Post by Eric Gajewski on Nov 13, 2016 14:37:07 GMT
TradCatKnight: Economic Crisis: "There's Chaos Everywhere" - Indians Angry As ATMs Run Dry After Cash Ban
The blowback from the world's latest strike in the war on cash is unraveling fast in India. This week's decision by PM Modi to ban some high-denomination banknotes (on the premise of fighting corruption) has left "chaos everywhere" according to one official who accused the prmeier of wreaking havoc on the poorest Indians. As Reuters reports, nearly half of India's 202,000 ATMs were shut on Friday and those that operated quickly ran out of the new notes as scores of people descended upon them.
tradcatknight.blogspot.com/2016/11/economic-crisis-theres-chaos-everywhere.html#more
The blowback from the world's latest strike in the war on cash is unraveling fast in India. This week's decision by PM Modi to ban some high-denomination banknotes (on the premise of fighting corruption) has left "chaos everywhere" according to one official who accused the prmeier of wreaking havoc on the poorest Indians. As Reuters reports, nearly half of India's 202,000 ATMs were shut on Friday and those that operated quickly ran out of the new notes as scores of people descended upon them.
tradcatknight.blogspot.com/2016/11/economic-crisis-theres-chaos-everywhere.html#more