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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    India Economy Falls into Chaos – Dollar Rise in Huge Demand

    Lobo
    Lobo
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    Join date : 2013-01-12

     India Economy Falls into Chaos – Dollar Rise in Huge Demand Empty India Economy Falls into Chaos – Dollar Rise in Huge Demand

    Post by Lobo Fri 25 Nov 2016, 1:17 pm

     India Economy Falls into Chaos – Dollar Rise in Huge Demand India-Cash-Protest
    US dollars are soaring in premiums on the street. There is a serious risk that the government has shaken the confidence of the people to such a degree, that they trust the US dollar more than their own currency. Prime Minister Narendra Modi has come out an said the currency changeover could still take a few weeks and could lead to inconveniences, according to the magazine Brics. The Indian economy is a highly cash transacted economy far more so than the United States and Europe. The government has brought the economy to a virtually standstill. Food stores are close to closing because the customers have no money. Small and medium-sized enterprises have stopped functioning because the invoices are not paid for.
    When Japan would routinely devalue the outstanding currency in the same manner each time a new emperor took the throne, the population responded by using rice and Chinese coins. The Indian economy is turning to the dollar. Physical dollars are commanding a premium because they can politically trust the dollar and not their own currency.
    Indians are participating in protests against the the government simply cancelling the 500 and 1,000-rupee notes. This has unleashed real chaos in India and the experiment is proving to be a complete disaster, which is good news for the West. Literally, hundreds of thousands of Indians have stormed the ATMs trying to get cash, reports the Hindustan Times. They are trying to get their money out of banks. This has proven in many places to be just not possible as cash is in short supply.
    https://www.armstrongeconomics.com/international-news/india/india-economic-falls-into-chaos-dollar-rise-in-huge-demand/

      Current date/time is Thu 28 Mar 2024, 1:35 pm