Rahul Mehta Gandhinagar LsCandidate
(1) Some lower middle class illiterates are getting royally robbed. They dont know how to fill bank form and bank deposit slip . They go to bank, ask some educated person to fill form, that persons writes a smaller amount and disappears with cash !!!
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eg an illietrate lower middle lady went to bank with her hard earned 100% white Rs 50000 . The helper wrote mere Rs 5000 in the deposit slip and form, and robbed remaining Rs 45000 !!!
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(2) Say Rich gives Rs 20 lakh of old notes to some dirt Poor, Poor will deposit it, RTGS to gold seller, and Rich will collect the gold. Rich will give say Rs 50000 to Poor. Now income tax department can chase Poor as much as they want. they will recover nothing from Poor !!! The testimony of Poor that he got cash from Rich and gave gold to Poor will have no value. For that matter, Poor can say that he got cash from Sonia Gandhi and gave gold to Rahul Gandhi (or put whatever leaders' names you want). And if deposit is Rs 2 lakh only or Rs 3 lakh for senior citizen or Rs 4 lakh for citizens above 80 years, then income tax dept cant legally do anything. IOW, via Poors, much of the old notes will get converted into gold. The income tax guys can in worst case harass the gold seller. But what he has done is 100% legal --- he sold gold via RTGS and he has all IDs.
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(3) At many places, the bank staff asked for two to three ID proofs !! So the staff will use second ID proof next day to recycle cash !!!
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eg Say I go to bank with Rs 4000 of old notes. The bank staff say asks for two ID proofs. Say I give two ID proofs. The bank staff can use one ID proof and give me Rs 4000 of new notes. And after 3-4 days, at some other bank or other post office, he can use my second ID to collect Rs 4000 of new notes for old notes of some Rich !!!
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(4) Some week of white economy wasted because there is no cash !!! Even Pani puri waala stalls are all empty !! Why? Because lets say a man has legal Rs 50000 and he was planning to spend it on say some activities. He has to postpone the spending. The spending was going to give Rs 100 to Rs 1000 to many. Now their income has stopped. These people were planning to but small items like paani puri or cloth or whatever. All that has stopped too,
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(5) Within 2 months, we will know if production of factories fell, and if they lost deadlines on export orders and / or local orders. The production can halt if one of the 100 activities needed depends on spot cash !!! Losing deadlines on export orders will be cost a lot in terms of reputation.
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All in all, many lower middle class men have suffered and their suffering will NOT come on paper or ever get documented because all suffering was in cash.
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All out of chaos !!! I dont know where people get such grand ideas from.
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Instead of sudden demonetatization, a far far better way of dealing with black wealth is to disclose names of ALL land owners with land they own !! With zero disruption of white economy, all black wealth hoarded in land will become public !!! And later all black land confiscations can start. But instead of publicizing land owners' names, SoMoKe and their 2.5 bit SoMoKe-andhbhagats want to chase currency notes, and disrupt white economy as well !!!