Rahul Mehta Gandhinagar LsCandidate

Going rate of gold in Ahmedabad - Rs 3800 per gram (for old Rs 500 notes) (no pan card needed)
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white rate with cheque - Rs 3200 per gram. Pan card needed for purchase above Rs 100,000
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So with mere 20% haircut, one can convert black cash in old notes into gold !!!
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What do gold sellers do? They deposit the cash in bank (no tax below Rs 250,000)
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IOW, black rupee is only getting converted in black gold with some 20% loss to BM holder and some 16% gain seller and gold selling middlemen keeping some 4% !! And Govt gets NOTHING in such deals. And nation lost all the productive time.
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And lets look at TOTAL statistics
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Gain in first round = notes that do NOT come back to RBI
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Now out of Rs 14,20,000 crore, some Rs 800,000 crore have come back in 20 days !! And there are 30 more days to do all gold exchanges.
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If 90% notes come back, then DIRECT gains will bne mere Rs 120,000 much below losses that GoI faced
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And income tax may gain some taxes. But how much? If deposits per person is below Rs 250,000 , then money income tax will gain will be peanuts, and will be after long costly legal exercises.
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And now black money hoarders will hold ONLY hoard gold. So gold imports will shoot up and further ruin forex situation.
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SOLUTION?
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Solution I propose is that forget this notebandi as some nightmare. It came and went, not much gains and much more losses.
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Pls focus on law-drafts like Right to Recall, Jury System, wealth tax, TCP = referendum, MRCM, deemed auction on sale of land, public disclsoure of all land ownership etc.