BLACK MONEY Swiss bank and other such off shore banks, i.e. in - TopicsExpress

BLACK MONEY Swiss bank and other such off shore banks, i.e. in Cayman Island, where these moneys are stashed, will not be easy to deal with. These Institutions are protected by their respective governments. They survived on these moneys. The money which is from the poor countries of the third world. Many countries have gone bankrupt because of the black money The amount of money the Indians have stashed away in these banks are just too much “in ZILLIONS” of rupees, to be ignored. Modi can do what Indonesia did in the 50s’ to wipe out huge amount of black money and counterfeits. Change the large denomination notes into a new more sophisticated notes and void the old one. Let people go to the bank and change the money. Set a time limit for this exchange. The United States introduced a new large denomination dollar notes with improved technology to make it more difficult to counterfeit. When it happens in Indonesia in the 50s, many Chinese (most of them were Chinese merchants) who were affected, ended up in mental asylum This is a humongous task. The amount involved is just too large to be ignored. It is a worthwhile undertaking.

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