By Peter Koenig
On 8 November, Narendra Modi, the Indian Prime Minister, brutally declared all 500 (US$ 7) and 1,000 rupee-notes invalid. The final goal is speedy global demonetisation. Electronic money, instead of cash, allows the hegemon to control the entire western world, all those who are enslaved to the dollar monetary system.
A Financial genocide, if there was ever one. Death by demonetisation, probably killing hundreds of thousands, if not millions of people, through famine, disease, even desperation and suicide – because most of India’s money was declared invalid. The official weak reason for this purposefully manufactured human disaster is fighting counterfeiting. What a flagrant lie! The real cause is of course – you guessed it – an order from Washington.
On 8 November, Narendra Modi, the Indian Prime Minister, brutally declared all 500 (US$ 7) and 1,000 rupee-notes invalid, unless exchanged or deposited in a bank or post office account until 31 December 2016. After this date, all unexchanged “old” money is invalid – lost. Barely half of Indians have bank accounts.
The final goal is speedy global demonetisation. India is a test case – a huge one, covering 1.3 billion people. If it works in India, it works throughout the developing world. That’s the evil thought behind it. “Tests” are already running in Europe.
The Nordic countries, Sweden, Denmark, Finland, are moving rapidly towards cashless societies. Electronic money, instead of cash, allows the hegemon to control the entire western world, all those who are enslaved to the dollar monetary system. Meaning literally everybody outside the Shanghai Cooperation Organization (SCO) that includes, China, Russia, most of Central Asia, Iran, Pakistan and – yes, India is an apparent candidate to join the SCO alliance.
There was no limit set in rupee amounts that were allowed to be deposited in bank or postal accounts. But exchanges or withdrawals were limited the first two days to 2,000 rupees, later to 4,000 rupees, with promises to further increases “later on”. The restrictions have to do with limited new bank notes available. The new money is issued in denominations of 500 and 2,000 rupee-notes.
On 9 November, none of the country’s ATM machines were functioning. Withdrawing money was possible only from banks. Queues behind bank counters were endless – lasting hours and in some cases days. Often times, once at the teller, the bank was out of cash. Imagine the millions, perhaps billions of labor hours – production time and wages – lost – lost mostly by the poor.
About the Author
Peter Koenig is an economist and geopolitical analyst. He is also a former World Bank staff and worked extensively around the world in the fields of environment and water resources. He lectures at universities in the US, Europe and South America. He writes regularly for Global Research, ICH, RT, Sputnik, PressTV, The 4th Media, TeleSUR, TruePublica, The Vineyard of The Saker Blog, and other internet sites. He is the author of Implosion – An Economic Thriller about War, Environmental Destruction and Corporate Greed – fiction based on facts and on 30 years of World Bank experience around the globe. He is also a co-author of The World Order and Revolution! – Essays from the Resistance.