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Originally Posted by pramodkumar Do you have money in hand to take care of expenses or are you ready to face things as they come by? |
Nope. I do not have cash at hand and plan to face things as they come.
I have a bundle of 1000 and 500 that I have collected from my family members so that only I will have to take the effort to get it exchanged. I will deposit it after a couple of weeks and make NEFT transfers to those whom I collected it from. The amount is small enough to not raise questions.
I will not withdraw money anytime soon even though I have three ATMs and two banks right opposite to my house. Let the ones who are in need of cash get it first.
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Originally Posted by pramodkumar This is not the first time such a move happened, it happened 3 times before in independent India |
Demonetization may have happened but was it in a similar fashion? I doubt it.
Look at the beauty of the move - an announcement made after all the banks closed for the day. A move that has been preceded by several steps that make it possible for a sudden demonetization.
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Originally Posted by pramodkumar The country is not at war |
We had to fight to get the ticket from the corrupt BMTC conductor and get a clean deal when buying property. We had to fight all alone.
Look at it now my friend. We are all up in arms against it now. The whole country. Hoarders are running like mice to keep what does not belong to them. Is this not war?
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Originally Posted by pramodkumar Isn't medical emergency a valid concern? |
It is by all means. No doubt.
And we have to do what ever we can to help those who are in need.
But is this something we can eliminate? Can we flush out the cancer in the economy without inconveniencing a single citizen?
I guess the answer is no. Had this operation been announced in advance the mice would have found a way to hide their cheese.
Since it is not possible, we must by all means help the folks in need, especially who have medical needs.
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Originally Posted by pramodkumar Most places that accept cards ask us to pay an additional 2.5%. |
Can we not pay the 2.5% extra in case of an emergency?
Isnt it a small sacrifice in the bigger scheme of things to pay 2.5% extra for a couple of days?
For Rs.1 Lakh it would amount to Rs.2500.
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Originally Posted by pramodkumar Hoarders might be shocked initially but most have done ingenious things to convert their hoards into gold.. |
Most??? Are you saying most have converted?
Friend I think this is not true. "Most" converting in 3 days?
Here is a piece of text I found on "statisticstimes" website :
"According to International Monetary Fund World Economic Outlook (April-2015), GDP (nominal) of India in 2014 at current prices is $2,049.5 billion."
Black money is estimated at 20% GDP. Are we saying that $408 billion has been converted to other form in 3 days?
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Originally Posted by pramodkumar Do you really think we have a choice? with the upper limit capped at 10k a week, I am sure people cant really go nuts withdrawing money |
We can but should not. We should refrain from hoarding new notes and let the ones who need it the most get it first. That and help those in need. Specially with respect to educating people about their options.
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Originally Posted by pramodkumar I lost my father last week, I cannot imagine about people who might loose their loved ones this week, imagine not able to conduct last rites just because the hoarders are to be shocked |
I am really sorry for your loss.
I do know that this shakedown can cause hardship to a lot of people, you included. And I am not going to argue with you on this front.
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Originally Posted by pramodkumar My only request to people like you is to stop rubbing salt on the wounds people have by saying we need to sacrifice and nation needs to sacrifice for a greater good |
This was never my intention and I stand nothing to gain from it.
But it has to be said that we do need to endure some pains for the greater good.
It is unfortunate that your situation is a lot worse that the majority.