Quote:Global financial repression picks up steam, led by India. After declaring large denomination notes illegal, India now targets gold.

It’s not just gold bars or bullion. The government has raided houses, no questions asked, confiscating jewelry.

Quote:The chaos accompanying “demonetization” hasn’t eased up noticeably. It seems likely the disruption to the economy, especially in cash-centric rural India, will hit growth sharply for at least a few quarters. It’s tough to say for how long and by how much; we are in uncharted territory here and guesses have varied widely. But many analysts agree with former Prime Minister Manmohan Singh, who’s predicting the new policy will knock 2 percentage points off that world-beating GDP growth rate.

Demonetization was originally sold as a “surgical strike on black money” — the illicit piles of cash many rich Indians have accumulated out of sight of the taxman. It’s now clear the policy has been anything but surgical. Worse, uncomfortable questions are being asked about whether the complicated rules and exemptions that have accompanied demonetization have allowed black-money holders to launder most of their cash. Of late, Modi’s chosen to focus instead on demonetization as means of advancing a cashless economy.

Yet the idea of a war on unaccounted-for wealth remains central to demonetization’s popular appeal, which means Modi will have to find other ways to keep that narrative going. So the government has now begun to push income-tax officials to conduct raids on those who might be concealing assets in forms other than cash, such as gold.

There’s already enough fear of such raids becoming common again that the government felt the need to step in to quell some of the anxiety. That didn’t help much. The government “clarified,”  among other things, the rules governing when tax officials could seize gold: Nothing would happen “if the holding is limited to 500 grams per married woman, 250 grams per unmarried woman and 100 grams per male.” It also said that there would be no limits on jewelry “provided it is acquired… from inheritance.” Also, the “officer conducting [the] search has discretion to not seize [an] even higher quantity of gold jewelry.”

What this means, unfortunately, is that India’s income tax officers have just won the lottery. During a raid, they can, on the spot, decide whether or not to confiscate a family’s gold holdings. And remember, India has an enormous amount of gold — 20,000 metric tons, much of it inherited. (The rules governing simple searches are different, but few know that.) Rather than cleaning up tax administration, the government has handed tax officials more power than they’ve had for decades. The rich will pay what they need to escape harassment; the rest will suffer.

Quote:The name "Black Market" is used to create a negative connotation, bolstered by lurid stories of drugs, organs, and children being bought and sold. But in actuality, the black market is any transaction that occurs outside government monitoring and bank profiteering. If you sell your old computer on Craiglist and are paid in cash, leaving no record, technically that is the Black Market.

The goal here is not to curb the drug/organ/human trade but to force everyone into dependence on the banks to handle their commerce for them, with the banks charging ever higher fees in their monopoly, and governments taxing every single transaction.



Read more: www.whatreallyhappened.com http://www.whatreallyhappened.com/#ixzz4SHF4sd4L

BECAUSE MODERNIZATION OF THE INDIAN PEOPLE IS NOT WHAT THEY ARE AFTER BUT THE END OF CASH PERIOD..AND THE LOCK DOWN OF ORDINARY PEOPLE THE WORLD OVER.  INDIAN IS MERELY A TEST CASE, A PIONEER PROJECT OF HOW ITS GOING TO HAPPEN FOR/TO ALL OF US.

DONT YOU SEE HOW CASHLESS BENEFITS THE STATUS..HOW IT ANSWERS ALL THEIR PRAYERS AND DESIRES..YOU BLINE, CANTANKEROUS IMPSE > > > > >