Loading ...India pulled 86% of its cash out of circulation. It’s not going well.
“Many experts don’t even have faith that this is an effective way to counteract tax evasion. Basu says that most black money doesn’t take the form of cash held in india but is instead held in gold, silver, real estate, and overseas bank accounts.
Modi is using a very crude tool to crack down on black money. For many, the costs are likely to end up more tangible than the benefits.”
Comment: Anyone else see a rise in gold demand coming ? Brings a whole new meaning to “Whats in your wallet?”