This subverse is for news from all around the world.
Be sure to check out /v/news as well!
Related Subverses:
/v/WarFollowing - Sub for all things relating to combat, terrorism, battle or war related news, stories, videos, etc. Also contains content related to dealing with war in daily life.
/v/USNews - For U.S.-central news
/v/WorldNews2 - Our less-moderated anything-goes subverse
Rules & Guidelines
[0] Removed
[1] Please report rule violations instead of debating them in the comments.
[2] News must not be older than fourteen days at the time of submission.
[3] User-editorialized titles are subject to deletion. State only the facts, not opinions or speculation.
[4] No spam, advertisements or ref-links.
[5] Removed
[6] Use correct capitalization in titles (i.e. no caps lock).
[7] Link the desktop version of an article, not its mobile version, and if you can search for an archive and link to that on https://archive.is/
[8] This should go without saying, but this is an English-language subverse. Posts and comments in other languages may be removed.
The spirit of these rules is to foster a community where dissent, free thought and open discussions are encouraged. All moderation activity should operate within this spirit.
Please do not post links in other subverses pointing to specific submissions or comments here. Cite the source directly if you are interested in the content.
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[–] ArsCortica 0 points 1 point 1 point (+1|-0) ago
From my own limited understanding, the demonetization in India was intended to to crack down on counterfeit bills and black market money, but even if that's the case, it backfired quite miserably. Simply removing two widely used bills from one day to the other in a country with more than one billion people was bound to create a nasty shockwave, even if banks were supplied with replacement cash.
[–] vastrightwing 0 points 1 point 1 point (+1|-0) ago
I'm not sure if this was unintended consequences or planned. Either way is bad. It could be a test like Cyprus. I tend to lean toward ineptitude. However, I don't know what the real outcome was supposed to be. Expect more capital controls to come in various forms as all world governments starve for assets. The U.S. is not immune to the malfeasance. Note zero interest rates. Later possible rate hikes causing massive inflation as the government struggles to pay the interest on its debt. I think the banking cartel is nervous and economies are on a death spiral that Noone knows how to control. You can only steal so much from the serfs before they strike back.