Tuesday, December 18th, 2018 MST

Monthly Archives: November 2016

Modi paper money cancellation crushes gold

Tuesday last week, India’s Prime Minister Narendra Modi demonetized 86% of the money in circulation, except for special uses. Ostensibly, it was a move to check black money, i.e., counterfeit money, money that was gotten through graft or corruption and money on which taxes had not been paid. In the four trading days following the

A major danger of paper money: Rupees cancelled

The biggest problem with paper money is that it can be created at will; and history shows that whenever paper money is disconnected from gold, it is eventually printed until it is worthless.  Sometimes its destruction comes quickly,  some over decades. The second biggest problem with paper money is that it can be cancelled by