A Request To All Black Money Acquirers

VU for awareness !
But Are u sure that above mentioned people will come here on DD for 2-3% savings?

@karansaxena

They won’t donate because they would be worried of getting caught/traced. And this was one of the objectives of this decision by the govt. Just because these notes are destroyed doesn’t mean the economy is subdued as RBI through various channels would have a statistics of the money in circulation. Also this money was as good as being torn and thrown into water as it was stashed away in some bunker/walls and where not. So let them burn and churn.

Your concept of economy is wrong. Actually, it is better that the notes are destroyed. The notes are not just printed as much as needed. The notes are RBIs liability and for every liability there is always an equivalent amount of asset to balance the books. So, if all the black money is destroyed/not returned to RBI then RBI will have access Assets which will result in record high dividend payment to GoI by RBI.

But donations is also a good option

Even roadside people not accepting them

@crazyspartan wrote:

Your concept of economy is wrong. Actually, it is better that the notes are destroyed. The notes are not just printed as much as needed. The notes are RBIs liability and for every liability there is always an equivalent amount of asset to balance the books. So, if all the black money is destroyed/not returned to RBI then RBI will have access Assets which will result in record high dividend payment to GoI by RBI.

But donations is also a good option

Cc: @ranjithsai01

They have washed themselves clean of all negative karma in Ganga. LOL!

@sherlock wrote:

VU for awareness !
But Are u sure that above mentioned people will come here on DD for 2-3% savings?

Voted up for awareness
But, Many of them won’t donate. Black money khud ko dusro sey jaadaa mahaan/Ameer bann ney k liye banaayaa hoga. Aur agar, ye paise gareebo ko dey dengey to ho saktaa hey dusrey log ameer ban jaaye.

@karansaxena wrote:

@crazyspartan wrote:

Your concept of economy is wrong. Actually, it is better that the notes are destroyed. The notes are not just printed as much as needed. The notes are RBIs liability and for every liability there is always an equivalent amount of asset to balance the books. So, if all the black money is destroyed/not returned to RBI then RBI will have access Assets which will result in record high dividend payment to GoI by RBI.

But donations is also a good option

Your concept of economy is wrong, the amount burnt will not be useful but the amount in RBI’s register will be shown as distributed and debt is shown in records. The amount can’t be recorded as burnt in register as the series is not known.

Cc: @ranjithsai01

That’s not the correct thing.Thousands of currency notes would be stashed away by black money hoarders which doesn’t mean that RBI would still consider them distributed and keep quiet about it. That would reduce liquidity to a very great extent so RBI always monitors the currency in circulation and tries to buffer it by introducing a percentage of it through new currency notes. If their statistics shows a spurt they would promptly withdraw the notes to make sure there is not excessive currency in circulation.

This has nothing to do with the various rates or other instruments such as OMOs which are used to contain the inflation.

@karansaxena wrote:

@crazyspartan wrote:

Your concept of economy is wrong. Actually, it is better that the notes are destroyed. The notes are not just printed as much as needed. The notes are RBIs liability and for every liability there is always an equivalent amount of asset to balance the books. So, if all the black money is destroyed/not returned to RBI then RBI will have access Assets which will result in record high dividend payment to GoI by RBI.

But donations is also a good option

Your concept of economy is wrong, the amount burnt will not be useful but the amount in RBI’s register will be shown as distributed and debt is shown in records. The amount can’t be recorded as burnt in register as the series is not known.

Cc: @ranjithsai01

I heard someone distributed their black money to daily wagers which imo is also not a good way. So there is actually no best way to do this.

And if you are aware there was some planned attacks by Pakistan using fake/black money which is why this decision was taken. I am sure even if someone has this kind of money will not go to government saying okay give me 9lakhs for each crore.

My father got 7.5 Lakh cash today to adjust in the business he runs and we definitely now know a person who has 250 crore in cash considering the fact that he has already availed 100 crores in the govt’s black money scheme.

Do you really think that kind of money is hard earned its always by wrong ways.

Economist don’t trust indian economy anyways and I am talking about 1.5 before when I came to know this. Indian Govt is not strong enough to give us security of even our money deposited in accounts and people are converting their cash in Gold/Dollars. I have too converted my money in $ and Gold.

@crazyspartan wrote:

Your concept of economy is wrong. Actually, it is better that the notes are destroyed. The notes are not just printed as much as needed. The notes are RBIs liability and for every liability there is always an equivalent amount of asset to balance the books. So, if all the black money is destroyed/not returned to RBI then RBI will have access Assets which will result in record high dividend payment to GoI by RBI.

But donations is also a good option

Yes I am aware that the currency notes are not printed as and when the need arises else we would see Zimbabwe economy in India. This operation is to make sure that there is no liquidity crunch due to hoarding of currency for longer periods of time. Check my above post please.

@sherlock wrote:

VU for awareness !
But Are u sure that above mentioned people will come here on DD for 2-3% savings?

These people live a leisurely life and nowhere bothered for even 10%

@karansaxena wrote:

@crazyspartan wrote:

Your concept of economy is wrong. Actually, it is better that the notes are destroyed. The notes are not just printed as much as needed. The notes are RBIs liability and for every liability there is always an equivalent amount of asset to balance the books. So, if all the black money is destroyed/not returned to RBI then RBI will have access Assets which will result in record high dividend payment to GoI by RBI.

But donations is also a good option

Your concept of economy is wrong, the amount burnt will not be useful but the amount in RBI’s register will be shown as distributed and debt is shown in records. The amount can’t be recorded as burnt in register as the series is not known.

Cc: @ranjithsai01

You are not understanding the point. Like you said amount in “RBIs register will be shown as distributed” but for every amount distributed an equal amount of asset will be placed in its vaults in the form of gold/bullion/foreign security so when the notes((liability) is destroyed the assets(gold//Bullion etc) becomes access thus benefiting RBI.

Here is a article about it: http://economictimes.indiatimes.com/news/econom...

@ranjithsai01 wrote:

@crazyspartan wrote:

Your concept of economy is wrong. Actually, it is better that the notes are destroyed. The notes are not just printed as much as needed. The notes are RBIs liability and for every liability there is always an equivalent amount of asset to balance the books. So, if all the black money is destroyed/not returned to RBI then RBI will have access Assets which will result in record high dividend payment to GoI by RBI.

But donations is also a good option

Yes I am aware that the currency notes are not printed as and when the need arises else we would see Zimbabwe economy in India. This operation is to make sure that there is no liquidity crunch due to hoarding of currency for longer periods of time. Check my above post please.

Exactly this drive solves this. The fact is all the currency of 500/1000 are zero now. So whatever govt has printed is nomore/nowhere valid. So if I burn, tear, or sell them to kabadi doesn’t even matters. As they are only going to print in the logical terms.

@anilenggworks77964 wrote:

@ranjithsai01 wrote:

@crazyspartan wrote:

Your concept of economy is wrong. Actually, it is better that the notes are destroyed. The notes are not just printed as much as needed. The notes are RBIs liability and for every liability there is always an equivalent amount of asset to balance the books. So, if all the black money is destroyed/not returned to RBI then RBI will have access Assets which will result in record high dividend payment to GoI by RBI.

But donations is also a good option

Yes I am aware that the currency notes are not printed as and when the need arises else we would see Zimbabwe economy in India. This operation is to make sure that there is no liquidity crunch due to hoarding of currency for longer periods of time. Check my above post please.

Exactly this drive solves this. The fact is all the currency of 500/1000 are zero now. So whatever govt has printed is nomore/nowhere valid. So if I burn, tear, or sell them to kabadi doesn’t even matters. As they are only going to print in the logical terms.

And afterall it’s different to say about theoretical economics and practical economic point of view in India,In practicality it is known to everyone that RBI wasn’t able to trace money which lead to tons of black money in India.

Handing money to the poor?

Why?

Why would anyone do that?

@karansaxena wrote:

@anilenggworks77964 wrote:

@ranjithsai01 wrote:

@crazyspartan wrote:

Your concept of economy is wrong. Actually, it is better that the notes are destroyed. The notes are not just printed as much as needed. The notes are RBIs liability and for every liability there is always an equivalent amount of asset to balance the books. So, if all the black money is destroyed/not returned to RBI then RBI will have access Assets which will result in record high dividend payment to GoI by RBI.

But donations is also a good option

Yes I am aware that the currency notes are not printed as and when the need arises else we would see Zimbabwe economy in India. This operation is to make sure that there is no liquidity crunch due to hoarding of currency for longer periods of time. Check my above post please.

Exactly this drive solves this. The fact is all the currency of 500/1000 are zero now. So whatever govt has printed is nomore/nowhere valid. So if I burn, tear, or sell them to kabadi doesn’t even matters. As they are only going to print in the logical terms.

Yes that’s what I meant to say, Government will be benefitted that’s for sure by this burning of notes, but what about common man? The benefit recieved by government would not necessarily be directed towards poor people. Hence, it could be Good to directly hand them over to poor.

And afterall it’s different to say about theoretical economics and practical economic point of view in India,In practicality it is known to everyone that RBI wasn’t able to trace money which lead to tons of black money in India.

You only think that providing them money would translate into good but that would be only temporary. Giving fish is a wrong way of upliftment and trying to provide them the means to catch it sustain-ably is the way to go. You don’t know how much of effect such free money would have on the labour pool. Govt won’t keep these benefits for itself and it will give it back in the form of tangible infrastructure which would help everyone.

Also it is not RBIs work to trace money and they only control the money. There are other agencies entrusted with it and RBI has it’s own ways to make sure those hoards of blackmoney stashed away under beds don’t affect the economy. Basic economics of money can’t be printed just out of thin air gets tweaked a bit at certain times. But our central bank has always stood the test of times in controlling it. So don’t doubt them a bit.

Let the unaccounted money die.. don’t recirculate it in whatever way – by giving it to poor or needy. Your approach just results in more currency than the actual accounted money (via the gold holding by RBI) pulling down the economy further. Burning it or getting caught & made accountable are the only correct ways of getting rid of this dirty money IMO

So back to the topic, I feel @ranjithsai01 should be our next PM!

The money that won’t return to RBI after the returning period is over will automatically be registered as ‘destroyed’ or ‘lost’ hence reducing the debt. As per my understanding.

That notes were FAKE
So no point donating/giving to poor ppl and giving extra tension to them.

sambhaal k rakhtey to kuch saalo baad 500 ka 5 laakh be meel saktaa hey
may be after few hundred years

So you are asking a thief to share his loot with poor and needy . Robin hood or what . It would be better if they give that over to the govt

@MovieSeeker wrote:

So you are asking a thief to share his loot with poor and needy . Robin hood or what . It would be better if they give that over to the govt

Giving to govt. is never a bad option, burning it is a horrible thing not from economic point of view but it itself is a disrespect to India as well as our father of nation Mahatma Gandhi whose image is also burnt with the note. At least something should be done to that.

@MovieSeeker wrote:

So you are asking a thief to share his loot with poor and needy . Robin hood or what . It would be better if they give that over to the govt

SRK, amir and being sallu ?

What u say @mahidada

Alternstifely u can send me black money up to 2.5l rs

Just because someone throws notes into river or burn them, our economy would no longer be poor… These are liquid assets created by government for the sake of our convenience to make trade happen smoothly

@karansaxena wrote:

@MovieSeeker wrote:

So you are asking a thief to share his loot with poor and needy . Robin hood or what . It would be better if they give that over to the govt

Giving to govt. is never a bad option, burning it is a horrible thing not from economic point of view but it itself is a disrespect to India as well as our father of nation Mahatma Gandhi whose image is also burnt with the note. At least something should be done to that.