Indian Government has No Estimation ever of Black Money in India
There is no official estimation of black money either before or after November 8 — the day government announced scrapping of old Rs 500 and Rs 1,000 notes, Indian Finance Minister Arun Jaitley said in Parliament on Dec 16.
“There is no official estimation of the amount of black money either before or after the government’s decision of November 8, 2016 declaring that bank notes of denominations of the existing series of the value of Rs 500 and Rs 1000 shall cease to be legal tender with effect from November 9,” he said in a written reply in Lok Sabha.
And You are very much aware that the Indian Government is not even sure how much counterfeit currency was rolling in India before Demonetization and how much rolling now.. All they have stated that the govt had been informed of a mint in Peshawar where only fake Indian currency notes are printed every year by which Pak pushes Rs 70 crore worth of fake currency every year into the Indian economy.
And according to RBI, there is only Rs 400 crore worth of counterfeit currency in India.
Then Why Demonetization?
According to the Indian prime minister, there are two objectives. One is (curbing) terrorist financing and counterfeit currency—and the second is that the black economy has become very large and it is the source of poverty and all the problems in India so we need to get rid of the black economy.
The question is—does demonetization overcome these two problems. As far as counterfeit notes are concerned, they are only 400 per million, which is very tiny. And according to RBI, there is only Rs 400 crore worth of counterfeit currency.
Total currency in circulation is Rs 17.5 lakh crore. It’s not even “oont ke muh me zeera”, as they say in Hindi. It’s negligible.
Terrorists need financing. So they print these fake notes and circulate it. But once they have given the money to another person, it’s circulating within the economy. So they have to print more and more money. That is what you have to stop.
And how do you stop that?
Not by demonetization, because there are state actors involved in counterfeiting. They can counterfeit the new currency notes also.
Then & Again Why all this Drama and Ho-Hoopla of Demonetization in India ?
The Answer has been already given by us in our post Indians towards Modern Slavery on 8th November, the day India announces Demonetization.
All this has been done for just one single objective “pave the path to Cashless Economy” just for the benefit of the Global Bankers who are now the Shadow Government in India along with some of the Super Rich and ultra powerful people.
The US has had acute trouble dealing with black money and dirty cash for over a hundred years now. Yet, not once has it declared its currency illegal since it began issuing notes in 1862. That is the strength of its financial system, on which the entire world relies.
But Indian Rulers have not only sold the Indians to the Global Bankers they also exposed the strength of its financial system as well the reliability of their own currency.
A currency note is a promise that must be kept, whatever the circumstances. This trust has also been broken in India.
Only to bring Cashless Economy in a Camouflaged way.
No Debates, No Discussions, No Public Opinion, No Bills…. Withot looking at the Drawbacks.
Mind you.. it’s not the Government but the Shadow Government going full throttle for Cashless Economy in India.
And Don’t be fooled.. You are always at risk in Cashless Economy and you will never be the absolute owner of your own wealth..There are a lot more things you need to know about Cashless System which will really make you cashless..
more to come…
Indians towards Modern Slavery
Demonetisation Loot And Plunder Says Manmohan Singh
The cash crunch may paralyse economic activities in India
Along with thanks and compliments to the sources for the shared data
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