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The Indian Demonetization Disaster Explained

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First published at 15:03 UTC on January 23rd, 2017.

Corbett Report Extras

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SHOW NOTES AND MP3: https://www.corbettreport.com/?p=21501

On November 8, 2016, Indian Prime Minister Narendra Modi made a dramatic announcement on live tv: as of midnight that night, the 500 and 1,000 rupee notes would no longer be legal tender. I…

SHOW NOTES AND MP3: https://www.corbettreport.com/?p=21501

On November 8, 2016, Indian Prime Minister Narendra Modi made a dramatic announcement on live tv: as of midnight that night, the 500 and 1,000 rupee notes would no longer be legal tender. Indians would have to turn in their old cash for new notes in the coming weeks. This "demonetization" scheme was sold to the public as an attempt to rid the Indian economy of so-called "black money," but what was it really about? And what are the real consequences of this action? Today we talk to Satya Sagar of countercurrents.org for the Indian perspective on this startling event.

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Category	News & Politics
Sensitivity	Normal - Content that is suitable for ages 16 and over

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