Josh Sigurdson talks with author and economic analyst John Sneisen about the trauma the Indian economy has seen as of recently as economic growth has slumped to its weakest point in Q1 2014.
While the growth is still rather high compared to many other countries, it’s a massive sign of the blowback following the vast 86% demonetization by Modi earlier this year.
Alongside the demonetization, Modi cracked down on black markets which led to many self sufficient free market businesses to shut its doors in the market place. Now those who were making the markets prosperous, are unable to bring that prosperity and the abundance of the free market is decimated.
There have been bank runs and panic as the demonetization sets in and many of the people of India are standing up in rebellion.
A centrally planned cashless society if incredibly dangerous to those who are forced by legal tender laws to use the digital currency.
If your money’s in the bank, it’s not yours, it’s the bank’s. If your money’s always going through the bank via legal tender laws, central planning and digital transactions, you never hold it, the government and banking system ALWAYS own your money and you are in perfect servitude to them. All of your transactions are tracked and you can’t properly try to make a living outside of the massive taxation and aggressive regulations.
These are all factors as India attempts to climb to the top of the food chain alongside the incrementally cashless China as the IMF pushes towards a global cashless society under the SDR.
India has also been pushing forward their Aadhaar system which utilizes retina and finger print scans.
John Sneisen breaks down exactly what’s happening and why you should be concerned.
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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