Not the need to eliminate black money or counterfeit notes
For decades, Pakistan has been able to print Indian currency because the note design details were available with foreign companies. The new 500 & 2000 rupee notes are also being printed with the help of the same suspect – De La Rue (https://moralvolcano.wordpress.com/2013/10/15/rbis-4000-crore-rounding-off-error-scam/). So, it will not be long before Pakistan resumes printing Indian currency.
High denomination notes have been withdrawn in the past too but they were not successful in eliminating black money. The top political parties are the top beneficiaries of black money and hawala operations. It is unlikely that they will willingly seek to jeopardize the situation. With the new 2000 rupee note, Pakistan will have to print less notes. Politicians and other looters of the nation will find it more economical to hoard 2000 rupee notes.
Immediately after the withdrawal of the 500 & 1000 notes, banks sent SMS messages to their account holders to download their banking apps and use it to pay their bills instead of relying on cash.
This is the real goal of the withdrawal of the notes. Modi government wants everyone to start using the banking and shopping apps so that it becomes easy to spy on people. The American CIA is a founder/promoter of the Google corporation that makes Android mobile operating system. Most smartphones today ship with Android OS (operating system).
Android by default saves all app data to Google servers. This means they can recreate your banking login credentials and other transactions on their computers. Thus, Modi government is helping foreign intelligence agencies to spy on Indians. Android shopping apps are permission hoggers and easily gain access to personal information stored on the phone.
Another thing about the banking apps is that they are not secure. Most Indian banks are very new to technology and Internet. The quality of their websites is an indication of how good their mobile apps are going to be. (I am not in a position to comment on banking apps because I never install them or perform any financial transaction on a mobile.)
To make matters worse, wireless networks and routers are sitting ducks for bots and malware infections.
All this makes mobile a risky platform to perform financial transactions. But, cash is immune to all such problems. However, it can be counterfeited. The solution to counterfeiting is simple – just do not print high denomination notes. Pakistan has been counterfeiting 500 & 1000 rupee notes because RBI has outsourced the printing to foriegn companies. An Economic Times reporter has also brought attention to a serious scam involving the RBI in the printing of these notes, which may be the tip of an iceberg. The CBI has also mysteriously not been able to jail anyone except Telgi in the bond paper counterfeiting case. Telgi had used original paper and printing plates as the RBI security mint. Influential polticians such as Chagan Bhujpal (although caught in other cases) evaded jail.
The other problem of tax avoidance can only be solved by eliminating corrupt officials in the tax department, who have been put in place by corrupt ministers, who have been appointed by the Prime Minister. Hence, ultimately it is the Prime Minister who is the enabler of the black economy.
Withdrawal of the notes will definitely hurt cash hoarders but people with illegal riches would be smart enough to invest in offshore bank accounts and benami properties, both in India and abroad.
Forcing people to use Android banking apps makes them vulnerable to not only spying but also spyware attacks and identity theft. The reptilians in charge of the finance ministry are soaked in globalist talking points such as financial inclusion (debt trapping), monetization of agriculture (land grabbing) and all that VC-private equity terminology. No good can come off them. They don’t understand technology or security. They are institutionally corrupt and traitorous. They do not understand India and are unfit to serve the needs of its people.
This hurts daily wage earners and small businessmen who need/make cash payments on a daily basis. These illiterates can’t write cheques or use mobile phone apps. Banks have not even been able to give the first 4000 rupees to people. It will take them forever to finish KYC, documentation and give everyone bank accounts. Bank accounts are useless for illiterate, poor & old people. India is not some tiny European country. Our people need cash payments on a daily basis if they need to eat on a daily basis. Washington kool-aid crowd in the Finance ministry doesn’t understand this.
Modi faces nationwide riots if limits on cash withdrawals are not lifted. These limits are illegal and will be lifted by any Supreme Court bench. The government can place limits only if cash balances in individual savings accounts are identified as black money. A blanket ban on cas is unconstitutional.
On the to-do list of globalist stooges, not a unique Modi “masterstroke”
The CII (Confederation of Indian Industry) hailed it as a masterstroke, which is a testament to how poorly informed corporate India is or how servile it is to those in power. Many developed countries have abandoned high-denomination notes.