India is the Guinea Pig for Electronic Money

As an observation, a lot of news pieces keep mentioning 2018 of late as a turning point for cash and a move towards either a new global currency or electronic currency. It’s a reminder of what The Economist put out in 1988:

 

 

QUESTION: Dear Marty,

What could be the true intentions of Prime Minister Narendra Damodardas Modi in India cancelling the currency overnight. I have been suspecting some foul in his demonetisation move but cannot correctly understand why he did it? Counterfeit currency, Black money, prevent terrorism all his publicised motives have been shown false. If this move is any kind of scandal and he has tarnished India image in long run or short run. Almost 90% analysts in India are saying it is a good move in the long run ( 2-3 years) and pain in short term. Is this correct? Continue reading