- Why all the urgent, rash, thoughtless, desperate … actions to ban cash in India? I don’t think Modi is a dumb idiot not realizing the consequences of his actions. He is under orders from the Illuminati to push forward with this reckless cash ban. The Synagogue of Satan is running out of time to prepare the way for the coming of the Anti-Christ. Banning of cash, going totally into electronic transactions is a pre-requisite for microchipping the sheeple with RFID ‘666’.
- India’s Prime Minister Has Singlehandedly Crushed the Economy with His Reckless Cash Ban
by Michael Krieger, https://libertyblitzkrieg.com/
Today’s piece should be seen as a bit of a followup to yesterday’s post, India’s Demonetization Debacle Highlights the Dangers of Monetary Monopoly. While yesterday’s piece was more philosophical/strategic in nature, today’s zeroes in on some of the devastating real world impacts of Narendra Modi’s insane and inhumane cash ban. It’s hard to overstate the damage this policy has done to India’s economy. Modi is quickly solidifying his place as one of monetary history’s biggest idiots.
First, let’s take a look at the destructive impact the move has had on India’s massive small businesses community. The Washington Post reports:
NOIDA, India — Over the past two years, this suburb of New Delhi mushroomed into a flourishing enclave of small cellphone manufacturers, attracting tens of thousands of workers from the countryside. Noida, known as the “handset hub,” was touted as a showcase for Prime Minister Narendra Modi’s pet “Make in India” initiative.
Then on Nov. 8, Modi’s government took a step that has jolted the bustling industrial quarter. It scrapped high-denomination currency, with a view, officials said, to curbing illicit wealth and the financing of terrorism. But the cash shortage triggered by the move has also curbed legitimate small enterprises. Many of Noida’s manufacturing units have slashed production by nearly half, and more than a quarter of the workers have gone back to their villages.