Re:India's Misguided War on Cash
by gnipgnip on Tuesday November 22, 2016 @03:38AM
(#13012629)
There was also some grumbling about cracking down on household gold savings (now that the "Gold bond" has fallen flat on its face).
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There is no feasible way of doing it. Unless you pass laws to hold people at gun point and ask them to surrender all gold they have.
Beyond that the government did try some gold investment schemes, which were extreme flops.
With the current move I see gold buying at a never ending high in India.
It's really strange, considering that gold-smuggling has historically been the source of funding for assorted terrorist orgs.
Demonetization may turn out in hindsight to be a master stroke, but there are too many variables that are hidden.
There remains anonymous routes such as p-notes that are still open for "black-money" routing. Hawala is likely to be hit very hard by this. See Swamy's latest lecture,