Financial Chaos In India After Black Market Crackdown & Bank Note Ban
Josh Sigurdson talks with author and economic analyst John Sneisen about the recent developments in India as the country cracks down on the black market. There is currently a ban on the 500 and 1000 rupee notes as the black market which has helped India thrive over the past decades is targeted and regulated out of the market.
Something we’ve spoken about many times at WAM is the fact that the black market is the only existent free market. A market that thrives and allows good people with a good mind for business make a lot of money for themselves and their families, bringing competition and innovation to the top of the totem in India. Of course the government and the central planners do whatever they can to abolish that which is free and that which doesn’t benefit them, so the black market is being heavily undermined in India.
As always, one must remember that the government and the central bankers benefit massively off of the debt of the populace. The artificial economies and artificial markets perpetuate the problems they claim they’re there to solve.
John breaks down what the people of India are facing and what they should do next.
Stay tuned for more from WAM!
Video edited by Josh Sigurdson
John Thore Stub Sneisen
Graphics by Bryan Foerster and Josh Sigurdson
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