India is looking like the next Venezuela now, thanks to incompetent government as usual..
Things are getting critical in parts of India now, a country with 1.3 billion people that's around 20% of the world's population.
50% of them are so poor they don't even have a bank account, and the government has basically made them all outlaws and killed huge parts of the economy.
People aren't getting paid, and they can't work because they have to queue at ATMs all day, businesses have stopped trading, kids are dying in hospitals because they won't accept cash, shops are being looted for food, and there are riots in the streets:
For now the middle class are mostly unaffected, so it's easy for them to ignore the suffering, but fear and uncertainty are gripping the nation.
Even the new notes in circulation have already been counterfeited, so shops aren't taking them and trust is not going to return anytime soon. If they don't get a handle on this there will be food shortages within weeks, as fear spreads and people start hoarding anything of real value.
Looks like India is fast becoming the next Venezuela, all because of their government's incompetence and need for absolute control.
Well done Modi.