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  #211  
Old December 15th, 2016, 08:24 PM
ashdoc ashdoc is offline
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Re: Run Black Money Run!

Government steps back from it's own stupid rhetoric of 'cashless economy' . From cashless to 'less cash'...

http://economictimes.indiatimes.com/...w/56001705.cms
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  #212  
Old December 16th, 2016, 06:24 AM
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Re: Run Black Money Run!

Quote:
Originally Posted by ashdoc View Post
Government steps back from it's own stupid rhetoric of 'cashless economy' . From cashless to 'less cash'...

http://economictimes.indiatimes.com/...w/56001705.cms
Those who thought cashless means no cash at all are stupid, not the government.
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  #213  
Old December 16th, 2016, 08:47 AM
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Re: Run Black Money Run!

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Originally Posted by sarv_shaktimaan View Post
Those who thought cashless means no cash at all are stupid, not the government.
Well said, there are so many people who do not understand the basics. Any calculation done on a faulty ground, the result is bound to be nothing but wrong. These are all relative terms and not absolute. Every child should know that in a poor, illiterate and gigantic country like India, it is not possible to have a cashless economy. Doesn't mean every effort shouldn't be made to move a needle towards less and less cash.

By the absolute logic, one should never do anything in this country and just let "chalta hai" go on.
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  #214  
Old December 16th, 2016, 10:26 AM
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Re: Run Black Money Run!

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Originally Posted by Jaggudada View Post
By the absolute logic, one should never do anything in this country and just let "chalta hai" go on.
Because of this chalta hai so many rapes are happening, if you dedicate a branch of police, public prosecutors to bringing rapists to justice within 6 months and no bail possible .. number of rapes will suddenly decrease dramatically.

Because of chalta hai we continue to hang on the foot board of the bus or train.
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  #215  
Old December 17th, 2016, 01:01 AM
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Re: Run Black Money Run!

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Originally Posted by Jaggudada View Post
By the absolute logic, one should never do anything in this country and just let "chalta hai" go on.
but what is the point in this demonetisation ? the real big fish who have hundreds of crores of black money have probably parked it in foreign countries .

i can't understand how the benefit of this demonetisation is going to trickle down to the common man . right now there is only pain as there is problem of getting cash in hand . in the short to medium term the economic growth rate is going to come down . the negative effect of this will be felt in the near future by the common man .

the modi government has given some nebulous hopes of the more distant future of the common people being brighter due to this demonetisation . but can someone explain as to how the common person is going to benefit because some moneyed people ( mostly upper middle class people , not the real rich people ) lost the value of their stored black cash ?

in fact , many people have already got hoards of new 2000 rupee notes . this i am judging from the teeming numbers of people who have got caught with these notes in crores of rupees in value---all new notes mind you .

right now the modi government is riding a wave of popularity mostly based on the jealousy felt by two classes of people---first , the salaried people whose tax gets directly cut from their salary when they get their salary and hence have always envied the businessmen and doctors who get their money without tax cut from it . second , the really poor people who have acute envy of how their bosses spend money like anything in cash while they struggle for basic necessities . but at some point reality will strike that these two classes are getting no benefit and the jealousy will be realised as pointless .
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  #216  
Old December 17th, 2016, 04:27 AM
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Re: Run Black Money Run!

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but what is the point in this demonetisation ? the real big fish who have hundreds of crores of black money have probably parked it in foreign countries .

Doctor Sahib,

There is moon out there which you can't reach so what do you do about it? Stop doing the things on the ground which are within your reach?

How is it going to help common man: When black economy is reduced, inflation goes down, it becomes a level playing field, criminality goes down, common people start affording the the things they deserve, infrastructure improvement. Many benefits. can't list them all here.

Many people have got hoards of 2K notes: Even when this Govt is street smart and they are immediately catching so many people, this is India and people will always try to dodge the system. Doesn't mean you shouldn't do these things or there is something wrong with the step. Can you think of any other govt which has been so actively involved in anything they do? Other Govts never get out of garibi hatana hai , secular/communal debate or Akhilesh/shivpal, sonia/rahool chootiyapa. This govt has been talking/doing something related to Governance ever since they came to power.

As long as Modi's intention truly remains to work honestly. (not worry about Ambanis, Adanis, Bachchans) This will eventually yield some very good fruits.

There needs some more steps, tax department should operate firm yet professionally.

My only concern is Modi's intention viz a viz crony capitalism. I also don't like mere dimag me ye chal raha hai, woh chal raha hai. Mai, mai..this destroys the team work and kills the motivation, one needs to be little modest about things. The rest will fall in place.

If you plant the tree, nurture the soil, create the right conditions, the fruit usually comes, why won't it come? It rarely fails.

Last edited by Jaggudada; December 17th, 2016 at 04:46 AM.
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  #217  
Old December 17th, 2016, 05:12 AM
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Arrow Re: Run Black Money Run!

Quote:
Originally Posted by Jaggudada View Post
Doctor Sahib,

There is moon out there which you can't reach so what do you do about it? Stop doing the things on the ground which are within your reach?

How is it going to help common man: When black economy is reduced, inflation goes down, it becomes a level playing field, criminality goes down, common people start affording the the things they deserve, infrastructure improvement. Many benefits. can't list them all here.
You got the metaphor/allegory/analogy wrong. What the Modi administration is doing/did is something like blowing up the entire house with explosives just to get rid of some cockroaches.

The problems this kind of demonetization creates is greater in magnitude than the benefits achieved from it.
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  #218  
Old December 17th, 2016, 08:12 AM
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Re: Run Black Money Run!

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Originally Posted by Ambernath View Post
The problems this kind of demonetization creates is greater in magnitude than the benefits achieved from it.
Only an audit 1 year later would tell us whether that is true. The worst is public suffering for some months which could result in lost GDP. that cold be made up by 'outside money' coming into the system. The tax collections could go up though.

Worst downside is one time inconvenience.

Docji, out of curiosity, has the number of patients increased for you.
I saw an FB post of a well off friend who got treated at apollo for a minor ailment and hada selfie with the barber there. Me thinks - It is just an outlet for his 500/1000 notes.
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  #219  
Old December 17th, 2016, 08:32 AM
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Re: Run Black Money Run!

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Originally Posted by sgars View Post
Only an audit 1 year later would tell us whether that is true. The worst is public suffering for some months which could result in lost GDP. that cold be made up by 'outside money' coming into the system. The tax collections could go up though.

Worst downside is one time inconvenience.

Docji, out of curiosity, has the number of patients increased for you.
I saw an FB post of a well off friend who got treated at apollo for a minor ailment and hada selfie with the barber there. Me thinks - It is just an outlet for his 500/1000 notes.
I am taking mostly 100 ₹ notes. I have made a collection of them in the post demonitisation days and now have been able to give change in 100 ₹ notes to anyone who gives a 2000 ₹ note. Of course new 500 ₹ notes are most welcome. But my clinic is not a government hospital to accept old 500 ₹ and 1000 ₹ notes.
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  #220  
Old December 18th, 2016, 05:56 AM
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Re: Run Black Money Run!

A legitimate activity can happen in cash as well as cashless mode. But an illegitimate activlity almost certainly happens in cash only.

So it can be said with a fair degree of certainty that putting curbs on cash will cause inconvinience to legitimate activities but deal a lethal blow to illegitimate ones.

Thus, terrorism, underworld, hawala (i still dont know exactly what that is and how it works), naxalism, "freedom struggle", mayawatism, mullayism and mumtazism etc have taken a hard hit.

So, demonetization has of course inconvenienced me. But for me (and for anyone who weighs things fair & square), the other fact far outweighs the incovinience caused.

Many have used all possible means to turn black into white (using jan-dhan accounts, distributing & depositing, exchanging on commission etc etc) and many are getting caught with huge cash in new & old currencies. But I feel these people and numbers are very insignificant (compared to the corpus gotten demonetized).

However, absolutely NO concrete measures were taken for reducing inconvenience to legitimate people, thats a fact. Everybody was left to fend for themselves. Black or white, rich or poor, legitimate or illegitimate.
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  #221  
Old December 18th, 2016, 12:34 PM
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Thumbs down Re: Run Black Money Run!

I know I will anger a lot of Modi bhakts and face their wrath and be called a Congressi, but this demonetization is a fantastic example of how to fuck things up.

Modi had a noble intention at heart and decided to demonetize. Great! Awesome! Clap Clap Clap

But the way the new RBI guidelines almost on a weekly basis (click on this google link and see the top 4 or 5 results)

I took the pains of reading all these ever changing and restrictive-by-the-day guidelines to banks set forth by the RBI. Its really a mind fuck!

For example, if you had 5 lakhs in your account prior to Nov 9th and then if you had a 'deposit' of 2 lakhs or more after Nov 9th in the account, then your account comes under intense scrutiny and you need PAN card etc for operating it. Fine. Assuming you have all white money, there is nothing to fear.

But the guideline further states that you can only withdraw Rs 10,000 in cash on a monthly basis!!

What the fuck!!!??

Mr. Modi, you are living in wonderland! Not everything is cashless and carrd based. What do you pay your bhajiwala vendor with? Do you expect him to have a PayTm or some such system? Or do you want us to go to higher priced malls only to buy our vegetables and grocery?

Problem is that Modi and his team thinks that by creating such a huge change with so many restrictions overnight will cure India of all black money ills. Idiots don't get it that when too much change and too many restrictions are put on forcibly things always get fucked up.

Look at how this demonetization is not fixing any corruption. Again Google for news about so many incidents of raids on people and bank officials hoarding new currency notes worth crores!

And all the bhakts who are jumping with joy at this demonetization are not realizing that they too will be fucked pretty soon with all these RBI guidelines when it comes to operating their accounts.

Team Modi is zero in managing anything. They are total failures at managment of post demonetization.


I know everyone on this forum and elsewhere is a far more intelligent person than me and you will have lots of arguments against what I am saying. I dont mind being called names or a Congress supporter, but I am not a blind follower. I liked Modi for his ideas and support him. I even support demonetization for rooting out black money, but the nonsense that is prevailing post demonetization could have been avoided with careful planning.

Anyway....
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  #222  
Old December 18th, 2016, 01:26 PM
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Re: Run Black Money Run!

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Originally Posted by echarcha View Post
But the guideline further states that you can only withdraw Rs 10,000 in cash on a monthly basis!!
i thought it was 24000 cash on a weekly basis .
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  #223  
Old December 18th, 2016, 01:50 PM
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Re: Run Black Money Run!

This is not looking good so far.
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  #224  
Old December 18th, 2016, 02:47 PM
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Re: Run Black Money Run!

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Originally Posted by echarcha View Post
I dont mind being called names or a Congress supporter, but I am not a blind follower.
Anyway....
What do you prefer - being called names or a being called a Congress Supporter

I had another one too that i used recently "You deserve to be in JNU"
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  #225  
Old December 18th, 2016, 06:04 PM
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Re: Run Black Money Run!

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Originally Posted by ashdoc View Post
i thought it was 24000 cash on a weekly basis .
24 is long gone now its 10 and that too at home branch if you withdraw from other branch then only 4000 for that week
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