India Shows Signs Foreshadowing Fascism

[Riddick]

Along with Narendra Modi's rise has come features on Umberto Eco’s classic list of “Ur-Fascism,” leading to concerns of an emerging India that may very well and all too soon be totally unrecognizable as the democracy it was... Heil Hindu!! FULL STORY

[Doka]

They are having a bad time of it, l hope our world will calm down a bit . I'm hard pressed to make any sense of any thing these days.

I have been watching this going on in India for a while. To help the poor by making them poorer, just doesn't seem right , but apparently "a fashionable " thing to do.


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The "Black Money" Backlash: These Are The Illegal Workarounds To India's "Cashless" Chaos

Over two weeks after India's abrupt demonetization of high denomination banknotes on November 8, the cash-driven economy still remains largely in a state of standstill, particularly the rural parts of the nation, where the government's attempts to restock banks with "new" cash (even with the use of army helicopters) have failed to re-normalize commerce. As a result, the local population of business owners, unable to spend or deposit their "sackfuls of large bank notes amid India’s crackdown on hoarding cash", is taking matters into its own hands, and as the WSJ explains, has started paying employees months of salary in advance, ringing up bogus sales and even buying gold they can smuggle overseas to get rid of stashed money or conceal its source.

The problem is that such workarounds are illegal and threaten to undercut the very premise behind Prime Minister Narendra Modi’s shocking move to cancel India’s highest-denomination rupee bills, which was meant to punish tax evaders and other criminals and bring more of the nation’s $2 trillion economy out of the shadows. As we explained previously, it was also meant to eliminate as much as $50 billion (or more) of the country's debt.

And, as the paper notes, if Mr. Modi’s unprecedented social-engineering project fails to net too many of the biggest tax cheats, he risks further incurring the wrath of Indians already frustrated with the pain and economic dislocation the experiment has brought about in its first two weeks.

According to some, Mody is already on the defensive: “Canceling these 500- and 1,000-rupee notes has caused inconvenience to you,” the prime minister said at a recent rally. “But some people’s whole life has been ruined—that is how I have punished them. Because they looted the poor, the middle class. They looted your money to run their business. That is why I launched this fight.”

On one hand, Modi's move was somewhat justified: as a mostly cash-based economy, it is relatively easy to engage in all-cash transactions which leave no trace, and thus lead to no taxes. Tax officials in India have for decades played testy games of cat-and-mouse with rich individuals and businessmen who accumulate wealth off the books and store it as real estate, jewelry, financial assets and cash stuffed in wardrobes. It also explains why India was, until recently, the largest imported of gold in the world (at least until China's recent ascent to the top spot).



the rest of the story, including link to previous articles

http://www.zerohedge.com/news/2016-11-2 ... less-chaos

[Riddick]

Demonetization: Been There, Done That, Got The Crisis. India’s recent withdrawal of high-value notes from circulation was an attempt to curb the shadow economy. But, writes Rahul Menon, a look at other countries that have demonetized in the past shows such moves usually damage trust and do long-term damage to the economy. FULL STORY

[Riddick]

Narendra Modi, Prime Minister of India, has an economic firestorm on his hands following his decision to ban the 500 and 1,000 rupee notes. In his monthly address on Sunday, Modi took his ambitions further with a call for a cashless society.

According to a translation by Reuters, Modi said, “I want to tell my small merchant brothers and sisters, this is the chance for you to enter the digital world.”

The ban has removed 80 percent of the country’s currency from circulation and brought commerce to a virtual standstill. But rather than backing up, it appears that Modi is doubling down. “We can gradually move from a less-cash society to a cashless society,” he told listeners.

The initial decision to ban the two notes is part of an effort to cripple a robust black market economy. Modi said that counterfeiting was rampant and claimed that the ban would aid in the fight against tax-avoidance, bribery and the funding of terrorism.

He admitted that “a 100 percent cashless society is not possible,” right now, but emphasized that he wants to set the wheels in motion.

Credit Suisse estimates that 90 percent of transactions in India are conducted in cash. Not only would a move towards a cashless society be a tough logistical hurdle but a cultural one as well. There isn’t really a strong install base for digital payment methods in India and people aren’t familiar with how to use them. Modi urged younger people who understand technology to teach the less-savvy.

While it seems likely that a move towards a cashless society would be an extremely long-term project, Modi has demonstrated his willingness to make bold decisions with immediately negative consequences. Even if dramatic measures are taken, digital payments bring a host of problems of their own—security breaches, privacy concerns and virtual black markets to name a few.

http://gizmodo.com/indias-prime-ministe ... 1789403344

[Riddick]

India Rupee Ban: Sporadic 'Day Of Rage' Protests Against Cash Ban

[Riddick]

Pulling India’s banknotes really amounts to expropriation - the taking of private property without the owner's consent by government or by one of its agencies, ostensibly for a purpose deemed to be in the public interest - and hits the poor while doing little to stop corruption. FULL STORY

[Riddick]

People held off buying vehicles in December after the Indian government scrapped more than 80% of the cash in circulation in November. Car sales plunged 19% in the month—the worst drop since December 2000—while sales of scooters and motorbikes, the core of rural mobility in India, fell 22%. FULL STORY

[Doka]

Would you think that India was just a "Test Site" ? I can only think it is somehow going to be REALLY bad for the people. As well as all the rest of those countries that signed up for the Hiltlery/Obama/Soros TTP, Global Dominance Plan. Those Countries are STILL signed! And it it is still going Strong! Who do you think is making the big stink about Trump.............Globalists !

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The Other 'Ban' That Was Quietly Announced Last Week

Most of the world is in an uproar right now over the travel ban that Donald Trump hastily imposed late last week on citizens of seven predominantly Muslim countries.

But there was another ban that was quietly proposed last week, and this one has far wider implications: a ban on cash.

The European Union’s primary executive authority, known as the European Commission, issued a “Road Map” last week to initiate continent-wide legislation against cash.

There are already a number of anti-cash legislative measures that have been passed in individual European member states.


The rest of this very eye popping article

http://www.zerohedge.com/news/2017-01-3 ... -last-week