Armed Polite Society

Main Forums => Politics => Topic started by: Scout26 on November 17, 2016, 03:15:51 AM

Title: India Decides to get stupid.
Post by: Scout26 on November 17, 2016, 03:15:51 AM

And the 2nd most populous country in the world decides to destroy 86% of it's cash in one fail swoop.  :facepalm: :facepalm: :facepalm:

This could get very ugly, very fast....

http://www.bbc.com/news/world-asia-india-37983834

Title: Re: India Decides to get stupid.
Post by: Perd Hapley on November 17, 2016, 07:21:26 AM

"fail swoop"  :lol:

Title: Re: India Decides to get stupid.
Post by: Hawkmoon on November 17, 2016, 11:53:28 AM

Quote from: fistful on November 17, 2016, 07:21:26 AM

"fail swoop"  :lol:

Play on words?

Title: Re: India Decides to get stupid.
Post by: Brad Johnson on November 17, 2016, 12:17:30 PM

Making it illegal to own certain types of commonly circulated bank notes in an economy largely based on cash transactions? Can you say "Uprising" boys and girls?

Brad

Title: Re: India Decides to get stupid.
Post by: RevDisk on November 17, 2016, 01:07:07 PM

It sounds like a large percent of Indians do not use banks, and thus are significantly harder to tax. In an attempt to get more people to pay tax, they're discontinuing certain old bank notes for new bank notes only issued through actual banks.

I'm not sympathetic towards folks who illegal dodge taxes, but this will not end well.