Quote:In a nation where 98 percent of consumer payments are still made in cash and about a quarter of the $2 trillion economy is unaccounted for, Modi’s pushing for electronic transactions to improve transparency. The latest move is estimated to more than double annual growth at payment companies.

Quote:And, yes, there are other “real” reasons as well. With cash increasingly becoming digitized, it makes it easier for the real criminals (government and central bankers) to exercise more totalitarian control in tracking transactions.

We won’t hear about these reasons in the mainstream media. Instead, we’ll be informed that people “aren’t interested” in cash or that cash is innately a mechanism of corruption.

Hopefully as this progresses, people will start to raise their voices in opposition. The idea that governments can track your every transaction and that you cannot hold cash in alternative forms of money such as gold and silver is extremely authoritarian.

Already, Indians are not going down silently. A letter to the Indian Banks’ Association (IBA), All India Bank Officers’ Association (AIBOA) and All India Bank Employees Association (AIBEA) stated that the decision to withdraw the high-value notes was taken without proper planning or preparation.

“A chaotic situation is prevailing at the bank branches and this is unbearable for both customers as well as bank employees and officers,” said S Nagarajan, general secretary of AIBOA and his counterpart at AIBEA, in the letter to IBA, the apex body of bank managements.

Plus, apparently there have already been some 25 deaths due to Indian demonetization in just six days after the decision. In the Bulandshahr, branch of Kailash hospital, owned by union culture and tourism minister Mahesh Sharma, a child died because the parents had only old currency notes. The hospital wanted them to deposit a Rs 10,000 cash advance for admission. Of course, the hospital has denied the charge.

Then in Surat, Gujarat, a middle aged mother of two committed suicide because she wasn’t able to buy rations to feed her family. The shops she used, refused to accept the old currency notes.

Governments like to tell you that their actions are for “your own good,” but it never works out that way. If governments ever really gain total effective control over money and your use, expect to be even more deeply impoverished than you already are.

Luckily there are other options.  Bitcoin is certainly one of them.  And, for this reason, we just released yet another book,