India Declares WAR On Cash, Goldsmiths Sell 1 Year Supply of Gold & Silver In 24 HOURS
SilverDoctors.com
November 10, 2016
The Indian government has demonetized 500 and 1000 rupee notes and these can only be used for 2 days at the shops, after which they can only be deposited at banks (and only with official gov’t ID).
The draconian move is a desperate bid by Modi to get rid of the cash from the black economy the money was used to purchase gold, and all the golds smiths in India have sold out of their gold stock in 2 days.
One year’s gold and silver demand sold in just 2 days…so when they will want to restock, there will be a massive demand coming for gold in next few weeks… – SD Contact Minesh, India
Submitted by Jeff Berwick:
The battle for a cash-only world is getting hotter. The latest battlefront? India.
The latest rupee news? Outrageous.
Prime Minister of India, Narendra Modi – beloved of Western elites for a variety of reasons – has just announced that all 500 Indian rupee Notes ($7.50) and 1,000 Indian rupee ($15) notes will no longer be considered legal tender. The 500 and 1,000 rupee, by the way, are the two largest denominations in India. Equivalent to the US banning the $100 and $50.
More: ATM withdrawals will be limited to 2,000 Indian Rupees ($30) for some.
The Reserve Bank of India and the post office also apparently decided that because of this “major task ahead” of them, that all commercial banks were shut down for the public on November 9th for a “bank holiday”.
We’ve covered the cash-confiscation trend in the past. It’s just one more brick in the wall of rising fascist barriers against free utilization of currency. In Europe, the 500 euro note is to be discontinued by the end of 2018, for instance.
That not-so-coincidentally is the year that The Economist magazine hinted would be the first year of a “world currency.” If so it will just be the culmination of what I’ve spent years predicting – a continued hyper-internationalism created by war, economic ruin and increasingly Draconian laws and regulations.
The Rest…HERE
