By Ankit Shah – Vivek Kaul’s Inner Circle (Germany) –
Pull out a currency note from your wallet. Read everything that’s written on it. Under the name of the issuer – Reserve Bank of India, you’ll read a guarantee – Guaranteed By The Central Government.
You will also find a signed promise by the central bank governor to pay the bearer the sum promised on the note.
But on 8 November 2016, India’s central government and central bank decided to break this guarantee and promise…under the garb of fighting black money, terror funding and counterfeit currency.
It’s a different matter now that the drastic measure is turning out to be a big blunder and neither the central government nor the RBI is willing to take full responsibility for the consequences.
But today’s Inner Circle issue is not about demonetisation…but an outcome of the doubts and uncertainties that a move like demonetisation creates.
It dents your trust in the money system. Suddenly, the paper notes that seemed so real and solid until now don’t evoke the same trust and confidence any more. If you have been a regular Inner Circle reader, you know how massively rigged the fiat money system is.
Your money is under the control of governments and central banks. What if were tell you that a massive technological revolution is underway…and it’s going transform not just the world of money…but EVERYTHING.