A 2-year old memory in the eve of biggest demonetization (& It is not just about currency) and a Brigadier on the nation’s psyche


Message Received and commented.

[11/15, 22:14] CHANDRASEKAR A: Found this worth sharing

During world war II, Winston Churchill appealed to public of Britain only once to not to buy eggs as these would only be sent to warriors fighting war and since there was already shortage of eggs.

Immediately there were long queues of people outside shops of Britain, not for buying eggs but to return already purchased eggs lying in their home.

If we love our nation, it would put us on trial too. This time would pass away soon.

Let us have some patience .🙏🙏🙏
[11/15, 22:21]

Ganapathy Subramanian N: 👏👏👏 The same kind of national spirit is also exhibited by the common man of India, that is, the majority of Indians, in not minding the hardships faced by them in having to get their own money after hours of wait. Only the politicians and their paid servants, the unscrupulous professionals and businessmen whom money in dark suits well, are shouting through paid media to vent out their anger by false statements that they are talking for the common people. We as Indians have been gleefully accepting the untruth of our politicians and we have developed a very thick skin as to not to worry about the worthiness of people donning the seats of power. Change has to come from us, from our heart and mind. This is a grand swell occasion that such a change may become possible in our dear country.

It’s Not Just About Currency


Expert Take

Dhirendra Kumar CEO, Value Research

Nov 15 2016 : The Economic Times (Mumbai)

As the days pass and the dust around demonetisation starts settling, I can see among people I know that there are broadly three kinds of reactions. One, the inconvenienced yet happy; two, those who are seriously worried; and three, the utterly shocked, panicked and distraught. By numbers, this list is in descending order, with the last category being the smallest.

As far as I can see, the ruined category is filled with those whose whose money comes from illegal sources, such as bribery .In other words, their money is the proceeds of a crime and can therefore not be explained in any way . Moreover the proportion of their assets that are held as real estate and gold have also been effectively demonetised. This is something that a lot of commentators have either missed or are not convinced about.

However, those who hold vast amount of real estate as unaccounted wealth know very well that a huge chunk of the value has evaporated. It simply won’t be possible to do deals which have a large proportion of cash, or indeed to safely accumulate the new cash. Without this, the value locked in their assets will not be realisable till inflation has eaten away a large chunk of it.Make no mistake, they all know that at any point in the future, they could switch on the TV one evening, only to hear Narendra Modi’s voice ring out, “Bhaiyon aur behnon, aaj raat madhya ratri se…“ and their nightmare will be back.

Still, this category of people will get what they deserve. To me, the far more complicated question is that of the middle group. people from the small to medium scale. Till a few years ago, most of them used to pay nothing of either indirect taxes or income tax.Now, they do pay a bit but generally only a fraction of what they should be paying. The strange thing (strange to you and me, at least) is that many of them don’t consider themselves dishonest -this is just the way business of a certain type and scale is done in India.

How does this happen? I’ve observed this closely over the years and believe that it’s almost a cultural issue. Someone starts a business -a small store, or a trading business, or a small manufacturing assembly business. In the beginning, capital is hard to come by , profits are a struggle, and credit even more so. It’s a well-known fact that almost most credit in the Indian system is sucked up by governments and big enterprises. The idea of taking out money from the meager cash flow and giving it to the government sounds financially suicidal, and for many small businesses, it is. A good part of their competitive advantage is made up of not having to pay taxes. You may never have thought of it this way , but if someone’s competitors are not paying taxes, then they can’t pay taxes too. Everyone has to be dragged into the tax net simultaneously .Otherwise, those who become honest first will be driven out of business.

Meanwhile there’s an entire ecosystem to support your cash business, from suppliers and customers, all the way to the CAs and the tax officials and the investment avenue, which is little else except real estate. Everything functions smoothly , leaving the task of funding the government mostly to the salaried class and to indirect taxes.

There’s very little incentive to change, no disincentive and certainly no social stigma.No wonder so many of them actually sound like they’re protesting against some deep injustice when they complain about their cash problems, and in a strange way , it’s possible to sympathise with such people. It was a stable system, and one that was changing imperceptibly , if at all. It needed an out-of-the-box doer to realise that there was absolutely no way out except for some really strong shock treatment. There’s some chaos, maybe a lot of it for a while.

Courtesy : THE ECONOMIC TIMES 15.11.2016


A thoughtful write up by a retired army officer on Demonetisation* (Facebook share)

Wake up India, your enemies are watching you squirm and crib at every hardship you face.

Our enemies, especially China and its side kick Pakistan, are watching with extreme glee at the way some of our mainstream politicians and their foot soldiers are complaining and opposing any action of the Govt for the national good.

They are assessing your psyche as a nation.

Take it straight, we come across as a very soft nation, where the slightest inconvenience to our daily routine unsettles us and we hit the social media with bizarre allegations.

Our enemies must be thrilled and our friends, around the globe must be rather amused that this is a country, which cannot suffer any disturbance to their comfortable existence.

Now imagine if our enemies were to start a war on us which results in death, devastation and total disruption of lives. No railways, no metros, no ATMs and rationed food.

We’ll have our politicians going to town asking to wave a white flag instead of defending the nation at any cost. That’s because we as a country, especially the self serving politicians, would rather malign ourselves than be resolute in fighting till the last man, last round.

By the way the Communists did this in 1962, when the Chinese attacked us. They faulted the Govt of the day for inviting the wrath of Mao’s country. What a shame?

The slight disruption to our comfortable life, due to demonetization, has been shouted at from the roof tops of mainstream political party offices and with childish antics of a dynastic *”Heir Apparent”*.

Some politicians are behaving like *”fifth columnists’*’, ready to sabotage every genuine effort of the Govt, where as the common man is braving it out..

Damn it all, this is not Modi’s Govt. It is your Govt elected by a majority. If you want to pin Modiji down do it, but not at the cost of our nation.

Watch out, our enemies will take advantage of our weak psyche.

We have ourselves to blame, if we do not rise to be a super power, despite a surfeit of resources of all sorts.

By the way, I have stood in queues for over two hours a day for the last 3 days and got my allotted amounts exchanged/ deposited.

I had the misfortune to see men, who joined the queue a few minutes after me, tearing their hair and shouting at the bank manager for not letting them get their share before others. They behaved as if apocalypse is just a minute away.

This piece is written out of sheer frustration by an Indian, who has walked the earth of this country for more than six decades and who once donned the OG with pride.

It begs an introspection and reflection on why and how India could be colonised so easily for so long.

-Brig P Satish (Retd)

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