Why India’s Currency Debacle is a Lesson for Westerners

Macro

As Indian citizens struggle with the inevitable teething troubles that the demonetization episode has brought upon them, it is important to know that this shouldn’t seem like a remote threat to Westerners. It establishes a significant point – state-issued paper currency exists only at the acquiescence of the State. One verdict can make it totally worthless. Read on to know why this Indian chapter must be seen as a lesson (read: warning) by the Western civilization and also why the value of gold cannot be debased by government decree.

Read the original article here

“India’s Currency Debacle: “Consider It A Warning”

http://www.zerohedge.com/news/2016-11-22/indias-currency-debacle-consider-it-warning

 


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