Eventually Alex Jones will notice this story, as it is a real life manifestation of one of his fears.
In order to fight the corruption and tax evasion rampant in India, the government declared 500 and 1000 rupee notes worthless. 1000 rupees is a little less than $15 – but the average income in India is only about $1,500 a year.
People were given three days to spend the notes at hospitals and a few other things like train tickets, which has been extended by India Railways, probably so people are not stranded away from home.
Indians buy lots of gold for a reason. I worked for a while for a consulting company in the Detroit area owned by a man from India who seemed to spend a lot of time at the high end mall buying stuff at the jewelry store. Burying gold in your back yard does not create wealth for your country.
Glenn Beck is the only person I’ve heard talk about this on the radio or TV, and long before the India thing.
Of course. One of his biggest sponsors sells “rare” gold coins at a 50 % spread.
FDR outlawed private ownership of gold and shipped the gold over to Europe. Glenn’s sponsor will be glad to sell you some of them from the vaults in Europe.
One of the options during the window of opportunity was people could deposit the currency in a bank, flushing the money into view and putting people on the spot to explain where the money came from. $44 billion in cash flowed into the banks in 4 days
http://www.bloomberg.com/news/articles/2016-11-14/modi-raises-banknote-limits-as-banks-get-44-billion-in-deposits