Wednesday, November 16, 2016

Why India's "war on cash" matters


Libertarian sources are reporting heavily on India’s confiscation (or refusal to recognize as legal tender) of larger cash bills, as in this story on FEE, “India’s War onCash”. 
  

The government fears that people can hide income, assets and wealth from taxation with “off the books” cash transactions.  Good point.
  
Ultimately, it could lead to a fear that people will hoard cash (what about gold and silver) and not take any risks in investing.  They you get negative interest rates.

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