Friday, January 13, 2017

Australia Looking To Follow India and Cancel Its Currency

News
The sudden cancelling of the India currency and rumblings that Australia will follow a similar path, has money changers refusing to accept $100 Australian notes. Australia's budgetary crisis, a huge mismatch between revenues collected and the promises of socialism that infects most major economies, is coming. A full out assault on the underground economy is viewed as the solution to finance infinite borrowing. Unfortunately, perpetual borrow as interest rates rise is a recipe for failure even if citizens of the world were taxed at 100%. History shows us that citizens will push back hard long before 100% is reached.

Headline: Indian money changers refuse to take Australian $100 bills amid currency crisis

AUSTRALIAN travellers in India are being unwittingly swept up in the country’s cash crisis.

The government’s shock move to scrap 500 and 1000 rupee notes at the end of 2016 sent Indians scrambling to exchange the currency, with queues forming outside banks across the nation.

Now, as Darwin-based fashion designer Emma Swan Das has discovered, the Australian currency has also been swept up in the chaos.


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Market-driven money flow, trend, and intermarket analysis is provided by an Insights key.