2 chapters across the catalog
India's Prime Minister Narendra Modi has demonetized 500 and 1,000 rupee notes, causing massive queues at banks and forcing millions to open digital accounts. Similar moves are being discussed in Australia, where UBS analysts suggest "turfing" the $100 bill. The hosts argue this is a global effort to eliminate physical currency, which will disproportionately harm the poor and increase government surveillance of all transactions.
India Banknote Withdrawal, Corruption and Cashless Society
A major news story from India involves Prime Minister Narendra Modi's sudden decision to withdraw 500 and 1,000 rupee notes from circulation to combat "black money" and corruption. The hosts discuss the resulting chaos and cash shortages, framing it as a move toward a "machine-led" cashless society. They predict similar moves will eventually happen in Europe and the U.S.
