Monday, January 2, 2017

Re: [IAC#RG] PUBLIC NOTICE: India Against Corruption's stand on note demonetisation

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Dear Mr. Pandian

It is futile to discuss with brainwashed people (fools) who don't know the ABC of cash money and its important role in the economy, and who blindly swallow whatever is taught to them in their shakhas by even bigger fools lecturing about nation-building and corruption.

Anyway, let us try and teach them in simple language.

1) Paper money was invented by the Chinese, who also invented paper (Egyptians invented papyrus)..

2) China is India's biggest enemy after the USA. India did not invent anything except the ZERO.

3) In the 13th century 1 Chinese paper note was initially equal to 1 gold goin = 100 silver coins = 1,000 copper coins of Emperor Kublai Khan. These notes were issued to Italian traders like Marco Polo to be deposited / exchanged against Bankers in Venice and Florence so that they were safe from robers on the way.

4) It was a very good deal for the Chinese since they got valuable things from Europe against paper instead of parting with their gold or silver. Of course in those days good paper was even more valuable than gold since it was so rare initially.

5) After about 20 years when the Italian merchants sent their notes back to China for redemption, they were told your notes are now worth only 1 copper coin because our great Emperor Kublai Khan (Modi) has learned how to mass produce paper and while you were away he has being printing millions of these notes to finance his massive debt, massive army and the super massive babudom which mis-manages this mess.

6) When the Italian merchants further protested (like Nehru), the Chinese Emperor reminded them that China also invented gunpowder.

To be continued. ...

Paper money is only valuable if it is issued in limited quantities, for limited productive purposes and is redeemable for value.

On Mon, Jan 2, 2017 at 8:20 PM, "" <> wrote:
So. Srivastavji. The cat is out of the bag now. YOU are the root cause of all our present troubles. There are certain preconditions for a ' cashless ' economy. When I am talking to you on cell phone, if I incline my head 10 degrees, the voice is cracker. Internet has not reached 80% of our land mass, cell phone towers are made with lower and lower powers because birds can not breed with their interference. Without internet connectivity, no card can work. Bank accounts are hacked on a daily basis. Recently 32 lakh accounts are compromised. NSA, IITM, even Bill Gates accounts are hacked. What is the surety some bloke sitting in Moscow or Karachi doesn't hack into my puny account and clean up the balance. Or, the government decides to close the cash box on 9th & 10th
Nov. 2016, leaving me hungry and thirsty. Or floods at Mumbai knockout the banking master computer making my money only a piece of plastic. Or simply I failed to renew my card. What is my fate? Card transactions come with a service charge. Usually 5%. Where do I go for that extra money. Many sellers normally add an extra for card transactions. Your suggestion keeps in mind salaried class which is only 2% of the population. You have not taken into account the havenots and daily wage earners.
Small and marginal traders are not even considered. You can not forget that most of them fall below the tax net, as farmers or less than 2.5 lakhs earners. Whatever they receive as payment has suffered tax at least once. Most of the countries being cashless have a per capita income of at least 4 to 10 times of our PCI. Cashless is the luxury of the affluent. When we are penniless, how can we become cashless also. May be we can stipulate transactions above a certain limits be cashless. Incidentally, all corruption, all black money need not be in the form of currency. Regards.
from Holly2 Plus

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