How the demonetization of Rs1000 and Rs500 can flush out black currency from India?

Discussion in 'Politics & Religion' started by akki313, Aug 20, 2011.

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  1. #1
    I have seen many people posting on facebook and blogs about demonetization of Rs1000 and Rs500 to flush out black currency from India?

    But I don't understand this concept..

    Anyone?
     
    akki313, Aug 20, 2011 IP
  2. atvking

    atvking Active Member

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    #2
    They will simply change old bank notes for new and in this process they will tax the shit out of anybody who can not prove the origin of capital..it happened in my country years ago the mafia and the politicians simply purchased hard currency (USD EURO) and the banks changed the old notes for new for the exchangers...
     
    atvking, Aug 20, 2011 IP
  3. The Webby

    The Webby Peon

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    #3
    As atv said, demonetization on 1000 and 500 Rs notes will force people with those notes to change to smaller notes.
    So everyone with black money will have to come out in open, or their money is rendered useless paper.

    we don't need to demonetize them, even changing the format of note and requiring everyone with old currency to convert it to new currency will do the job as well.
     
    The Webby, Aug 20, 2011 IP