Indian Prime Minister Narendra Modi has outlawed cash altogether in 75 cities. He already outlawed the 500 and 1000 rupee. This process of going cashless began at the end of last year.
This puts Indians in a difficult position. Cash accounts for 90 percent of transactions in India. The poor, which is most of the country, don’t have debit and credit cards.
The townships were actually selected on the basis of a recommendation by none other than Price Waterhouse Coopers (PWC) furthering the G20 agenda to stamp out tax evasion.
The goal is to extend the tax base. Only 1% pay any taxes at all in India.
Modi appears to be a pawn of globalists, however .
It might not work. There are plenty of ways to circumvent the crackdown, such as backdating bills. Nor does the move address the stock of illicit wealth, most of which is stored in assets like property and gold.
However if Modi follows with further radical moves, fear will be widespread. Moves could include a limit on personal holdings of gold or a crackdown on participatory notes, which are widely used to launder money and invest it back into the stock market.
It’s also causing a depression in the housing and sales markets, at least in the short term.
There is a wider, more global effort to desperately try to completely collapse the world monetary system. He who controls the cash, controls the people.
The Daily Bell suspects a coordinated global effort linked to the push to go cashless. It’s all about knowing where the money is and who owns it, in order to tax it, regulate it, “sanction” it, or confiscate it:
Without privacy, authoritarianism flourishes because it is impossible to build and expand private networks that would act as a deterrent . . . . A worldwide transparency regime virtually guarantees abuses and corruption from those in power.
This is a reason why the “cashless society” idea is such a bad one. When no one is able to use cash, financial histories will be easily available via electronic bank records.