“Brace For Economic Disruption” SocGen Sees “Sharp Rise In Gold” As India Plans Cap On Cash Holdings
by Tyler Durden
ZeroHedge.com
Nov 19, 2016
India’s ‘de-monetization’ scheme has caused chaos across the nation, and while SocGen says the government’s plan may have some short-term success in curbing so-called ‘black-money’, investors should “brace for economic disruption” as Bloomberg reports the Indian government is considering a cap on cash holdings for individuals. As SocGen concludes, “people will now be more inclined to park their black income in gold rather than in currency.”
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