InvestorsHub Logo
Followers 10
Posts 2095
Boards Moderated 0
Alias Born 05/14/2013

Re: None

Wednesday, 12/07/2016 6:56:48 PM

Wednesday, December 07, 2016 6:56:48 PM

Post# of 39534
Interesting times in India

India is attempting to advance an agenda of a cashless society. They have banned 500 and 1000 rupee notes and are currently raiding people's homes confiscating gold and jewelry. The 500 and 1000 notes account for 85% of the money supply. 500 rupees is equal to $7 USD.

Theoretically this would push the taxi industry into an app based payment structure as people will have to start paying with credit. We've been waiting for regulation of meters but banning cash could have the same effect.

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.