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  #226  
Old December 18th, 2016, 06:05 PM
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Re: Run Black Money Run!

And because of the limit there is shortage of cash as people are hoarding them.
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  #227  
Old December 19th, 2016, 03:11 AM
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Re: Run Black Money Run!

Quote:
Originally Posted by Jaggudada View Post
sonia/rahool
at least rahul gandhi has stood by the people who are expected to vote for him---muslims , christians , dalits etc .

this modi has backstabbed his own core constituency---the businessmen , traders , merchants etc who had voted for BJP for decades and who were dependent on cash for their business . the last person who backstabbed the people who voted for him was v p singh who unleashed mandal on the very upper castes who had voted for him , and even though the effect of his unleashment has been permanent he himself did not have a great political career after mandal .
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  #228  
Old December 19th, 2016, 06:13 AM
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Re: Run Black Money Run!

Quote:
Originally Posted by ashdoc View Post
at least rahul gandhi has stood by the people who are expected to vote for him---muslims , christians , dalits etc .

this modi has backstabbed his own core constituency---the businessmen , traders , merchants etc who had voted for BJP for decades and who were dependent on cash for their business . the last person who backstabbed the people who voted for him was v p singh who unleashed mandal on the very upper castes who had voted for him , and even though the effect of his unleashment has been permanent he himself did not have a great political career after mandal .
what the fuck they got by him standing up? You are opposing just to be different, I get it.

kya ghanta voted for decades.. how UPA ruled for 10 years then? Only 6 years of BJP rule before 2014, that too a coalition with god knows how many parties. Few state governments is all BJP has managed so far.

Nobody taught Indian traders how to do trade properly, how to keep books, bastards have been writing in diaries/notebooks, sometimes not even bothering to count cash. No mofo told them you have to keep credit card machines and take insurance.

Tell me one sector where any govt has done groundbreaking work, or set standards. Real estate and town development/planning is worst. When Chandigarh was created, all over India people should have been queuing up to follow the same model, yet you see haphazard mushroom like growth which yields disasters like Uttarakhand floods.

The model of most govts in India has been to loot and enjoy for 4 years and then in the 5th year, start making roads, start giving school buses, municipality goes to work. If people buy their crap they get another term or else the other party gets a chance to repeat the same for next 5 years.

Last edited by sarv_shaktimaan; December 19th, 2016 at 06:15 AM.
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  #229  
Old December 19th, 2016, 06:40 AM
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Re: Run Black Money Run!

But the demonetization has slowed life in Mumbai. You have money but you cant spend it freely,I now feel I am staying in Soviet Union,inspite of paying tax for all my income(tds) I dont have the freedom to spend it,I am forced to use cards,yes now I have to keep multiple cards bcoz you dont know which card wont work at any given time,to add to it my cash withdrawals are rationed,last thursday I withdrew 7K and today wanted 10K the bank clerk refused saying you can withdraw only 3k now bcoz you took 7k last thurday,I told him that was last week he said you cant withdraw more then 10K in 7days so it is this week only
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  #230  
Old December 19th, 2016, 07:47 AM
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Re: Run Black Money Run!

And Pappu is getting polished,40 min speech and looks like he has new speech writers now

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  #231  
Old December 19th, 2016, 08:59 AM
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Re: Run Black Money Run!

Quote:
Originally Posted by sarv_shaktimaan View Post
you are just trying to act different...
i am espousing the view of most doctors . many consultants have seen a drop in patients because they charge rs 500 at least and no one has new 500 rupee notes , especially in mumbai region ( i have heard they are available in delhi ) . like fools the medical community had backed modi only to see him backstabbing us .

my parents are totally uncomfortable with cards and they are used to dealing in cash . this is the problem faced by many old people . my parents don't know computers and are incapable of online payments .

all my earnings are in cash . but from now if i put my own hard earned cash in bank to show it for tax then i cant remove it in cash again...hell , my own money...sure i am angry .
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  #232  
Old December 19th, 2016, 09:11 AM
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Re: Run Black Money Run!

Don't take my view personally, I don't like doctors generally. First of all they act like they are not from earth, and show income of 10K per month, when some are earning that much every day. System is so bad, that hardly any doctors get debarred for malpractices. One chemist will not give you medicine without prescription, but the other guy across the street will if you give him 50 Rupees extra.

I may have related this previously on echarcha.com, we rented a 3 BHK from a cardiologist (MD from UK) in Bangalore, he had a huge safe in his house. He deposited only very little cash in Bank, would not issue receipts unless asked for medical reimbursement, and if he knew this he would prescribe the costliest drugs. In short, he was evading tax like everybody around (his chemists, etc).

The message from Modi govt is fall in line or face action, Modi don't care too much about power, BJP (previously Jan Sangh) has been out of power for most of it's existence.
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  #233  
Old December 19th, 2016, 07:20 PM
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Re: Run Black Money Run!

Quote:
Originally Posted by ashdoc View Post
at least rahul gandhi has stood by the people who are expected to vote for him---muslims , christians , dalits etc .

this modi has backstabbed his own core constituency---the businessmen , traders , merchants etc who had voted for BJP for decades and who were dependent on cash for their business . the last person who backstabbed the people who voted for him was v p singh who unleashed mandal on the very upper castes who had voted for him , and even though the effect of his unleashment has been permanent he himself did not have a great political career after mandal .
My charge is that Modi likes to be in limelight. He is image hungry and therefore it will be hard for him to desist people who are rich and famous. You are saying that he has back-stabbed people who had his back. This is all the better if he really is ruthless. Think about how cool it will be if he didn't care about Ambanis interest? We need someone like that, which I doubt.

You need someone who is not going to care for anything, anyone if the act is in larger public good. Then only things can change. Otherwise it is one step forward,two backward kind of deal.
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  #234  
Old December 19th, 2016, 09:20 PM
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Re: Run Black Money Run!

Quote:
Originally Posted by prajapati View Post
^^ Keep in mind, Ambanis are businessman, and more money does not mean necessarily that all are black money and now he is the No. 1 in BM lists. Also for an industrialists there remains Black in different category and it's particular area, where you can catch them,... 'Coz their reports and financial gain and loss, data and balance sheet, are prepared by many directors and highly professional lawyers and if he is doing intentionally wrong in few obvious area,.. it will be hard time for him,... to keep the mouth shut of such many sub directors and other high professional,.. and a leak may occur so quickly somewhere, someplace,...

Now, out of those 14.5 Lakh Crores birds flew out of the nest,...

Already deposits have crossed 13 lakh crores, hence they are trying to make it difficult for people to deposit more. Still political parties(biggest black money guys) have to deposit, Lets hope we don't cross the full amount.

If jaali notes will start coming in tons,.. Govt ko lene ke dene pud jaayenge,..

I'm fear lot of counterfeit notes entered in rbi already

As on today, some 3 lac crore of 500s and 1000 rupees notes are yet to come back to the banks. By the end of this month, this over all demonitisation exercise would have chucked out max 2lac crore of money out of this system.What was the target of RBI and modi when they started this exercise? How much money they wanted to make it invalid. will they happy with this 2 lac crore?:

No idea, what they are trying to achieve...Since, more money has come into the system than what they initially predicted/assumed, now Govt wants to save its face...so putting newer conditions so that people do not come and deposit more money....

Anyway, Govt has rolled out proper, effective and fool proof system to give red carpet welcome for the culprits to directly convert their old currency to BRAND NEW 2000 notes...Govt is very careful not to disturb the life of these kind of people who are actually very important...

I know you will ask me immediately,..
do you have the source link for the 13 Lakh Crore back in the system?

The last I checked, it was 12.44 lakh as on DEc 13th.

And the total worth of money which became invalid as on Nov 8th according to various estimates is: from 15 to 15.87 Lakh Crore INR.

If the total money which comes back into the system crosses 15 Lakh INR, then I think, there was more money printed than what is being accounted by RBI at all! Because the RBI Money supply reports do not take into account of this money in circulation and true to the fact, this means understating the liability of RBI, which is a very serious thing!

Demonetisation: Nearly Rs 13 lakh crore back in the banking system, say sources Nearly a month after Prime Minister Narendra Modi announced the government demonetisation drive, close to Rs 13 lakh crore worth the now invalid currency notes has been deposited into the banking system, sources told CNBC-TV18.

http://www.moneycontrol.com/news/cnb...ce=ref_article

I think this news is not authenticated: Only sources as per CNBC.
Because this news was posted on DEc 7th and on Dec 7th, the official release from RBI Dy Gov is:

The banks have received Rs 11.55 lakh crore as deposits of the demonetized high currency notes as of Tuesday

And on 13th DEcember this:
the central bank has collected Rs 12.44 lakh crore at banks in demonetized notes.

Because that possibly was the latest announcement from RBI. And I was really focusing on only RBI / FM / FS / RS announcements in this case, because all these 'sources' in TV/ media turned out to be too varying to the extremes.

And I am not saying that, it cannot have crossed 13 Lakh crore. All I am saying is, there is no official word on that yet!

Anyway, I am not sure, how much is the cost of demonetization!
And hence, whatever that does not comes back into the system, whatever it is, is it worthy of the whole cost of DM!!

Is 1 Lakh crore good enough? No Idea, especially, when taking into account lost man days in front of the banks, ATMs, and the extreme hardships, economic activity shrinking, etc

Some good things: Inflation down (But it is not a trend, it is just one time effect. So once the effect wanes off, things will again be on a upward trend).
Cooling of Real estate prices (This is one really overpriced sector. But those who bought with Loans are also at the receiving end now)

Even if we discount the cost of replacing the money, damage to the economy, loss of productivity costs...People IMO are furious to see bundles and bundles of new notes from few rich guys when they can't get a single Rs 2000 note for even medical purposes after all these desh bhakth sacrifice dialogues...

This question has been haunting me for a while, I hope you can answer

Their initial estimate of 3 lakh crores not to come back (unaccounted money) don't you think few of the top 100 businessmen have to be get caught. Till now not even a top 1000 businessman has been caught.

Note : I'm not even counting all the big political criminals.

Even those who are not much affected by DM also are peeved at the way the rich can shore up their conversion to the tune of hundreds of crores, when the common man cannot get their hands laid on for more 2500 Rs per time.

And the ones who are standing at the counters for days, how much they would be fuming!

Lets not make a mistake that, only the Shekar Reddies kind of people got their BM's converted. There are scores many, who are out of the long arm of the law. There are intelligent BM holders, who found ingenious ways like NGOs, Political parties, Trade activities, to conceal their BM status and converted it to WHite.

The long arm of the law only extends till the powerless and also according to the circumstances of the power situation!! All big fishes got to go scotfree now (at least those who have returned the favours via other ways)

Now, SS, Swami and Sgar paaji,..
I am not an authority on this, so please take my opinion with a pinch of salt.

To me, it looks like not all Businessmen / woman or the top ones are actually holding black money. Even if they hold, they are all siphoned off to Overseas! If they are all intelligent enough to run successfull businesses, then they very well knew how to escape the law of land, by concealing it overseas.

The target was local businessmen, who did not have the wherewithal to hide it overseas! The local Real estate barons, the mining guys, perennial gold stashers, the education mafias, and the running 'Opex' cash component of big businesses (Which are in black). The big level drug dealers, operators, sex traffickers, other illeagal businesses. The corrupt bureaucrats also.

Last but not the least, the election expenses cash of Political parties. Which in turn has got a way out by depositing into Accounts. But then the catch is this cash deposits on the Parties accounts will be tracked henceforth!

Its like this:

Businesses / big businesses which needs political primacy are the fountain of corruption. In that they give bribes to Operators, míddlemen. Politicos to get favours. But they themselves do not hold much of BM. Because when they have the option of having it all in white, there is no incentive for them to hold it in Black.

Lets not make the mistake thinking that all businesses are corrupt! Not all of them!! But most corrupt can be seen in Real Estate, jewellers, Mining, (Telecom till the auctions were formalized) etc!

Like Vijay Mallya, some businessmen save for the rainy day overseas(but borrowings from bank and increasing NPAs with shitty business plans). And some of them do it so by siphoning off fund from their businesses, thus duping their shareholders. Do you remember the 2009 Jan, Satyam story? Inflated books, cash siphoned off to Real estate and overseas holdings.!!

Income tax slab rejig, higher exemption limit on the cards
On the cards: a restructuring of tax slabs and increasing the income tax exemption limit from the existing Rs 250,000 to more than Rs 400,000 a move that would leave more money in the hands of people.
http://t.in.com/047t

Mr. Echarcha, what I see is,...
A catastrophic failure of demon and orchestrated support of cascading failures ..don't know where we are heading

There are two kinds of people who don't say much: those who are quiet and those who talk a lot.
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  #235  
Old December 21st, 2016, 04:04 AM
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Re: Run Black Money Run!

If more money has come in than expected, again as I said if the intent is genuine then Govt can now go back and scrutinize all the deposited money and see if there is any foul play and ask the big depositors to explain how did they earn that money.

2nd, most of the money has now come in banking system, so it should help from here on wards, again if we have good administration to maintain it.

3rd, take the next steps: reduce taxes, benami property, make it difficult for people to go outside banking systems on any transactions over 5-10K. Poor people, farmers, subziwalla can still transact in cash as their transactions are going to be less than above amount.

4th, political waste: No sense in just doing stuff which causes common man to get in line but all big fishes roaming Scott free, austerity in public life, starts with President, Prime Minister...not in words but in deeds.

5th, get rid of all Governors Post. Every constitutional post with a huge cost, not only while they are in office but till they are alive. President can run it and what do they do anyway including the President. This creates a society with too many sahibs and very people to freaking do the work. We want more and more people to do the work and less lecturebazzi.

6th, keep going till the system is reasonably cleaned.

Last edited by Jaggudada; December 21st, 2016 at 04:08 AM.
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  #236  
Old December 21st, 2016, 04:17 PM
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Re: Run Black Money Run!

Quote:
Originally Posted by prajapati View Post
Now, SS, Swami and Sgar paaji,..
I am not an authority on this, so please take my opinion with a pinch of salt.
Dont worry. we take it with a bag of salt.
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  #237  
Old December 22nd, 2016, 08:23 PM
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Re: Run Black Money Run!

Quote:
Originally Posted by ashdoc View Post
i am espousing the view of most doctors . many consultants have seen a drop in patients because they charge rs 500 at least and no one has new 500 rupee notes , especially in mumbai region ( i have heard they are available in delhi ) . like fools the medical community had backed modi only to see him backstabbing us .

my parents are totally uncomfortable with cards and they are used to dealing in cash . this is the problem faced by many old people . my parents don't know computers and are incapable of online payments .

all my earnings are in cash . but from now if i put my own hard earned cash in bank to show it for tax then i cant remove it in cash again...hell , my own money...sure i am angry .
Have you been accepting Cheques?
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  #238  
Old December 22nd, 2016, 10:45 PM
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Re: Run Black Money Run!

Quote:
Originally Posted by sgars View Post
Have you been accepting Cheques?
No. Not yet anyway.
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  #239  
Old December 29th, 2016, 07:08 PM
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Re: Run Black Money Run!

BJP was aware of all the problems of demonetization and congress got scared to implement it then after they listed the problems

The measure is ‘anti-poor’: When BJP opposed demonetisation during UPA govt

The BJP had opposed as “anti-poor” a move by the RBI in January 2014 to withdraw currency notes issued before 2005 and said the move will not address the problem of black money.
In power now, the BJP government demonetised Rs 500 and Rs 1000 currency notes on Tuesday and defended it as a move to deal with illicit wealth. Here is what it said then and now.
BJP spokesperson Meenakshi Lekhi in January 2014
• The idea is unexplainable as to why this has happened… the measure is strongly anti poor.
• The latest gimmick of finance ministry’s demonetization of currency notes before 2005 is basically an attempt to obfuscate the issue of black money that is stashed outside the country.
• The present government is not in a position to measure the correct quantum of black money, because those who have black money will actually convert it into new currency notes.
• The sufferers are the aam aaurat and aadmi; those who are illiterate, who have no access to banking facilities. They will be the ones who will be affected by such diversionary measures.
• People who have small savings and no bank accounts and their life savings will be targeted. The present scheme does nothing to remove black money from circulation.



http://www.hindustantimes.com/india-...sRS6q2rhJ.html
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  #240  
Old January 24th, 2017, 11:06 AM
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Re: Run Black Money Run!

Quote:
Originally Posted by sgars View Post
Have you been accepting Cheques?
Quote:
Originally Posted by ashdoc View Post
No. Not yet anyway.
Looks like many in Umrika still like checks

http://www.wsj.com/articles/go-ahead...day-1485277398
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