Why is India really banning cash?

India banning cash is just the latest social experiment from the central bankers - they don't care about the human cost, or even if the economy fails in the short term, which it is: http://www.atimes.com/article/indias-demonetization-takes-toll-major-sectors/

The media has brainwashed everyone about what a hero their PM Modi is, but no one has questioned the true purpose. Maybe because there's no such thing as an independent media anymore.

Incompetent as governments are, I don't think their primary motive here is tax evasion, counterfeiting or terrorism, as their solution is creating more damage than all of those problems - it's all about control.

I posted before how an ageing population and falling EROI is going to be deflationary - and the only way to combat this while maintaining control and preventing bank runs, is with negative interest rates.

This requires digital currency or everyone would hoard cash.

If they succeed in India without a popular revolt, expect to see similar moves in Australia, Europe, and eventually US. You only need to take out the big bills to remove most of the cash in circulation, as the small ones will lose purchasing value with time anyways, making it impossible to store wealth.

I watched a movie a few years ago called In Time, where in the 'near future' people are chipped at birth and live off time credits:

It's the ultimate form of negative interest rates where your 'bank account' runs down, and then you die if you are not deemed useful or productive enough to keep it topped up.

It also solves the aging problem, and this is really how it could play out in a technocratic future, where people are just resources to be managed efficiently.

I also saw a very interesting interview recently with Patrick Wood, who explains how technocracy is competing with (and slowly replacing) dying capitalism as the dominant global system of our time:

I have to do another post on technocracy because in my mind it's all tied in with climate change and the peak oil / finite world scarcity mentality, which creates a need for centralised control and fascism.

This is just one potential future of course that they keep pushing, I believe there is a better way.