Funny about the way how Modi is monkeying in his attempt to control black money, money hoarding, money laundering and of course (he said) to control terrorism. Let us look at some of my misconceptions about this Modi Bakwas.
1- Modi wants to surprise or catch off-guard those people who are indulging in the self-rule style (desi style) ‘drain of wealth’. This he did by declaring the ban of Rs 500 and Rs1000 at midnight. But he is catching the common people off-guard and not the neo-colonial political and corporate classes of India. For these classes this Modi jargon is no surprise at all. Why? Because preparing a brand new note of Rs2000 takes time, it cannot be done overnight (even walls have ears) so the Indian rich and neo-rich have nothing to worry about and no surprise at all. They can take it easy, their money is either back in India long time ago and has already transformed into other assets. Indian black money stacked in foreign banks is not coming back to India by way of conversion, that is, such money might have been back in India long time ago or continues to remains where it belongs.
2- What about the corrupt rich Indians who do not have the intention to bring back their corrupt wealth to India? How will Modi deal with that? What if such people bring that money in smaller fractions or make investment abroad either directly or through benami?
3- Indians have time till 31st December 2016 or even March to surrender all their Rs 500 and Rs 1000 currency notes. What if in case all black money from India have already arrived in India either in fraction or benami? Indian law as per the Foreign Exchange Management Act 1999 does allow monetary transfer internationally and there are institutions or national or international companies dealing with matters of monetary transfer. The Indian companies are Times of Money,Samachar Money, and the international companies are Western Union, Money Gram and there are online ways of transferring money through PayPal and others. So black money might have already arrived in India but they have not changed their colour.
So these arguments show that Modi is defending the money hoarders, not exposing nor taking away their money.
4-The saying that Indians can surrender their Rs 500 and Rs 1000 currency notes till December or March next year is a timing showing Modiji’s concerns for his colleagues. What is the point of ordering that the Rs 500 and 1000 currency notes will not have any legal tender from the 9 November 2016? Now let’s see the logic, I can still trade in my Rs 500 or Rs 1000 till the said date; it is up to the last receiver to surrender the said currency notes by that date. Mr Modi you might as well say that all you Indians who are taught to ‘see no evil ,hear no evil,speak no evil’ to surrender your Rs 500 and Rs 1000 by December 30/2016.That sounds better, but no you won’t say that simply because Uttar Pradesh election is on your agenda. Modi knows, Samajwadi Party knows, Congress party knows ,BSP knows,I know,the whole India knows that the election market is a capital intensive investment project
So Modiji is creating a panic of capital knowing that he rules India and maybe, just maybe ,UP election does not warrant the capital reinforcement from abroad.
5- Terrorism and the currency notes of Rs 1000 and Rs 500. Wow brilliant idea! Agreed that fake currency comes from Pakistan or even Bangladesh,but I imagine that by now those people who are engaged in printing fake Indian currency are busy printing the one hundred rupees notes or waiting for the blue colored Rs2000 notes. Help! Modi what would you do then? Do whatever you want to do but please not this Currency recall again.
Finally, this publicity stunt of Modi’s is another way of saying ‘sorry folks’ I cannot afford to make a strong anti corruption laws ,something like the Lokpal ,and I (Modi) cannot afford to expose my colleagues who are in different political parties or my comprador who are in different corporate houses or Administrative Establishment who are corrupt and have stacked illegal money abroad to be punished in any form .
“If you steal a chicken
You might be beaten to death
If you steal an office pen
There are loathe of IPC ,CRPC for you
If you steal an empire
You are the king”