dial_100 Posted September 18, 2018 Share Posted September 18, 2018 ^ It all came to light because of Demo. You dont be naive to believe that black economy was good for us. It was an initiative towards turning our economy into more cashless. You cannot put control on such things (as you mentioned above) until they are uncovered. To best of my knowledge and understanding, Demo was best thing happened to India. Lot of rich people ended up distributing their money using proxies. It all got documented. We uncovered that many bank officials allowed this money to flow in through some proxy accounts and subsequently withdrawn. I would say support the government and have another demo but this time have strict bank regulations, like taking Co-op out of equation for deposit for a short time. The filthy/corrupt again started building black/cash economy. They are only ones who complain about demo. If we dont cleanse this, it wont change automatically. It is simple thing to understand, dont need economics/finance knowledge. jusarrived 1 Link to comment Share on other sites More sharing options...
dial_100 Posted September 18, 2018 Share Posted September 18, 2018 12 hours ago, Singh bling said: Rahul Gandhi looks to me as genius when I look at IQ of Bhakts amazing. just because there are some illiterate are out there who support BJP doesnt necessarily mean you generalize. But we will give you that freedom. Enjoy RG as much you want. We are doing the same thing. We love his presence. Laaloo 1 Link to comment Share on other sites More sharing options...
FischerTal Posted September 19, 2018 Share Posted September 19, 2018 8 hours ago, dial_100 said: ^ It all came to light because of Demo. You dont be naive to believe that black economy was good for us. It was an initiative towards turning our economy into more cashless. You cannot put control on such things (as you mentioned above) until they are uncovered. To best of my knowledge and understanding, Demo was best thing happened to India. Lot of rich people ended up distributing their money using proxies. It all got documented. We uncovered that many bank officials allowed this money to flow in through some proxy accounts and subsequently withdrawn. I would say support the government and have another demo but this time have strict bank regulations, like taking Co-op out of equation for deposit for a short time. The filthy/corrupt again started building black/cash economy. They are only ones who complain about demo. If we dont cleanse this, it wont change automatically. It is simple thing to understand, dont need economics/finance knowledge. some people lost a lot of black money, thats why the undue hatred towards Modi. dial_100 1 Link to comment Share on other sites More sharing options...
jusarrived Posted September 19, 2018 Share Posted September 19, 2018 14 hours ago, FischerTal said: some people lost a lot of black money, thats why the undue hatred towards Modi. I have may own family members who have turned against modi for the same reason, some are fine cos they feel its easier being clean and pay taxes as most of their transactions have gone cashless. Link to comment Share on other sites More sharing options...
jusarrived Posted September 19, 2018 Share Posted September 19, 2018 22 hours ago, dial_100 said: ^ It all came to light because of Demo. You dont be naive to believe that black economy was good for us. It was an initiative towards turning our economy into more cashless. You cannot put control on such things (as you mentioned above) until they are uncovered. To best of my knowledge and understanding, Demo was best thing happened to India. Lot of rich people ended up distributing their money using proxies. It all got documented. We uncovered that many bank officials allowed this money to flow in through some proxy accounts and subsequently withdrawn. I would say support the government and have another demo but this time have strict bank regulations, like taking Co-op out of equation for deposit for a short time. The filthy/corrupt again started building black/cash economy. They are only ones who complain about demo. If we dont cleanse this, it wont change automatically. It is simple thing to understand, dont need economics/finance knowledge. Unfortunately aam aadmi is not capable of understanding this. Stupid fuks belive that if a fraud comes out during BJPs rule, it's BJPs fault. dial_100 and Switchblade 1 1 Link to comment Share on other sites More sharing options...
Singh bling Posted November 29, 2018 Share Posted November 29, 2018 (edited) Note ban was a massive, draconian, monetary shock: Modi's former economic advisor Arvind Subramanian https://m.economictimes.com/news/politics-and-nation/note-ban-was-a-massive-draconian-monetary-shock-modis-former-economic-advisor-arvind-subramanian/amp_articleshow/66859800.cms Demonetisation hit farmers badly, agriculture ministry takes 2 years to admit The Union agriculture ministry has admitted in a report that the note ban badly affected the farmers. https://www.indiatoday.in/india/story/demonetisation-hit-farmers-badly-agriculture-ministry-takes-2-years-to-admit-1393030-2018-11-21 Edited November 29, 2018 by Singh bling Link to comment Share on other sites More sharing options...
Trichromatic Posted November 30, 2018 Share Posted November 30, 2018 6 hours ago, Singh bling said: Note ban was a massive, draconian, monetary shock: Modi's former economic advisor Arvind Subramanian https://m.economictimes.com/news/politics-and-nation/note-ban-was-a-massive-draconian-monetary-shock-modis-former-economic-advisor-arvind-subramanian/amp_articleshow/66859800.cms Demonetisation hit farmers badly, agriculture ministry takes 2 years to admit The Union agriculture ministry has admitted in a report that the note ban badly affected the farmers. https://www.indiatoday.in/india/story/demonetisation-hit-farmers-badly-agriculture-ministry-takes-2-years-to-admit-1393030-2018-11-21 In the end it was small businessmen, daily wage earners and poor who had to suffer. Rich just swapped notes without any hassle. Under_Score 1 Link to comment Share on other sites More sharing options...
Trichromatic Posted November 30, 2018 Share Posted November 30, 2018 4 minutes ago, Under_Score said: Sad but true...the bank managers made tons of money swapping notes for their 'elite' clients while the poor people suffered. Even if they didn't make money, they always had exception for elite customers. Banks even did home delivery of cash for rich customers even during peak demonetisation without any hassle (much more easier than how people get cash even in non-demo period). That's how easy it was for them while common men were queueing outside ATMs for hours. Singh bling 1 Link to comment Share on other sites More sharing options...
rkt.india Posted November 30, 2018 Share Posted November 30, 2018 1 hour ago, Trichromatic said: Even if they didn't make money, they always had exception for elite customers. Banks even did home delivery of cash for rich customers even during peak demonetisation without any hassle (much more easier than how people get cash even in non-demo period). That's how easy it was for them while common men were queueing outside ATMs for hours. aisa nahi hai. there are plenty who lost a lot of money or had to deposit their money to other people's account and could not recover it back from them, mostly real estate black money. Real estate maafiyas were hit hard who usually dealt in cash. Link to comment Share on other sites More sharing options...
Trichromatic Posted November 30, 2018 Share Posted November 30, 2018 51 minutes ago, rkt.india said: aisa nahi hai. there are plenty who lost a lot of money or had to deposit their money to other people's account and could not recover it back from them, mostly real estate black money. Real estate maafiyas were hit hard who usually dealt in cash. Huh, saying that there are plenty is fine, but is that even significant change? Almost everything is back to the system. So far it's been only 1 thing - 1 year of hell for poor and small businessmen with claims of dividends I'm future for which timeline is only stretching. It's like "Hoga, kabhi na kabhi, kuchh na kuchh to Hoga". Link to comment Share on other sites More sharing options...
rkt.india Posted November 30, 2018 Share Posted November 30, 2018 37 minutes ago, Trichromatic said: Huh, saying that there are plenty is fine, but is that even significant change? Almost everything is back to the system. So far it's been only 1 thing - 1 year of hell for poor and small businessmen with claims of dividends I'm future for which timeline is only stretching. It's like "Hoga, kabhi na kabhi, kuchh na kuchh to Hoga". Isn't it good that money is back to system which was not the case before and money that was hoarded as black money before? Isn't it better that a lot more people are paying taxes now? Money has come into the system and govt has received taxes over it. This was the purpose of it. Switchblade 1 Link to comment Share on other sites More sharing options...
Singh bling Posted November 30, 2018 Share Posted November 30, 2018 1 hour ago, rkt.india said: aisa nahi hai. there are plenty who lost a lot of money or had to deposit their money to other people's account and could not recover it back from them, mostly real estate black money. Real estate maafiyas were hit hard who usually dealt in cash. Most of mafia at that time just changed business and started dealing in exchanging note even after 6 months after demo. One person asked me if i knew people with old notes , i know a man who will give good price , i said few of my relatives do have few thousands , he said not in thousand but crores. Link to comment Share on other sites More sharing options...
Singh bling Posted November 30, 2018 Share Posted November 30, 2018 24 minutes ago, rkt.india said: Isn't it good that money is back to system which was not the case before and money that was hoarded as black money before? Isn't it better that a lot more people are paying taxes now? Money has come into the system and govt has received taxes over it. This was the purpose of it. Cash to GDP ratio is now same as it was before demo , so where is money in the system? Link to comment Share on other sites More sharing options...
Trichromatic Posted November 30, 2018 Share Posted November 30, 2018 1 hour ago, rkt.india said: Isn't it good that money is back to system which was not the case before and money that was hoarded as black money before? Isn't it better that a lot more people are paying taxes now? Money has come into the system and govt has received taxes over it. This was the purpose of it. Purpose has changed regulars from start. Link to comment Share on other sites More sharing options...
mishra Posted November 30, 2018 Share Posted November 30, 2018 Indians are honest, law abiding, innocent people. So when government said no more black money, As a nation we turned it all into white money. However, for example Real estate prices have stalled. And thats good enough to say Demo has routed black transactions. So we are sticking with newly found white moniez jusarrived 1 Link to comment Share on other sites More sharing options...
Singh bling Posted November 30, 2018 Share Posted November 30, 2018 2 hours ago, mishra said: Indians are honest, law abiding, innocent people. So when government said no more black money, As a nation we turned it all into white money. However, for example Real estate prices have stalled. And thats good enough to say Demo has routed black transactions. So we are sticking with newly found white moniez Real estate price go through cycle. They were at peak in 2012 and then declined 20-30% upto 2016 Demo further declined them but from 2017 they are somewhat recovered. So sorry to say demo has nothing to do with long term pricing of real estate. Link to comment Share on other sites More sharing options...
mishra Posted November 30, 2018 Share Posted November 30, 2018 53 minutes ago, Singh bling said: Real estate price go through cycle. They were at peak in 2012 and then declined 20-30% upto 2016 Demo further declined them but from 2017 they are somewhat recovered. So sorry to say demo has nothing to do with long term pricing of real estate. i want to sell a flat in Noida. Prices hasnt increased since demo. Offered price is still lower then Demo. And nope. There isnt much cash part either. Link to comment Share on other sites More sharing options...
Clarke Posted November 30, 2018 Share Posted November 30, 2018 I have a feeling if NaMo publicly apologizes for DeMo, there will still be defenders of the move, however good it sounded in theory and bad it ended up in execution. Singh bling 1 Link to comment Share on other sites More sharing options...
eternalhope Posted November 30, 2018 Share Posted November 30, 2018 (edited) 24 minutes ago, Clarke said: I have a feeling if NaMo publicly apologizes for DeMo, there will still be defenders of the move, however good it sounded in theory and bad it ended up in execution. So true. The intent itself was not there. Once it was obvious this was heading for a failure, there was no course correction trying to use the opportunity towards moving to a cashless economy. Edited November 30, 2018 by eternalhope Link to comment Share on other sites More sharing options...
Singh bling Posted December 2, 2018 Share Posted December 2, 2018 Demonetisation had no impact on black money,’ says outgoing Chief Election Commissioner OP Rawat https://amp.scroll.in/latest/904216/demonetisation-had-no-impact-on-black-money-says-outgoing-chief-election-commissioner-op-rawat Link to comment Share on other sites More sharing options...
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