The horrifying truth about demonetization in India

KOCHI, India - April 17, 2019 - PRLog -- Worldwide, demonetization is done in order to curb counterfeit currency. Whereas, here in India, we have legalized them in billions since the counterfeits could not be detected properly and the RBI is forced to cover up this mother of all blunders.

The very fact that we were told that not more than Rs.5000/- would be allowed to be remitted halfway through and which was relaxed on widespread protest is one indicator that more money than legally printed had come back to the banks. The fact of the RBI refusing to divulge the demonetized quantity for over one and a half years, saying that counting was still going on is the other indicator, for just totalling the bank ledger balances could give the answer in a jiffy.

Was this the 3.6 lakh crore rupees of excess money that the government wanted as a gift from the RBI, recently? Or was this only a part of a bigger blunder?

If this is the truth, then we have devalued and destroyed our currency and the matter is grave.

These facts have been included in this song by Thomas Easaw and the YouTube link of the song is given below and the song video is self explanatory with lyrics.

https://www.youtube.com/watch?v=-eVFZhiqG74



Lyrics

Did we demonetize only to blunderously legalize counterfeit currency?

Now they say the RBI has much more money

Than the RBI requires for reasons, if any

How did this situation come to be?

Come to be?

Did we demonetize only to demonize the economy?

First, they said there were billions of counterfeit money,

Printed outside the country most illegally

Smuggled in and circulated extensively

Needed to be caught in its entirety

Was it because we couldn't or because there weren't any?

In the process of demonetization of money

Did more money come back than printed legally?

Did we legalize the counterfeit currency

also, blunderously?

That the RBI now has billions of excess money.

Was that why, we were told, we couldn't put more money

Than just a five thousand before it ended finally

Why did the RBI take years to clarify

As to how much came back as old currency,

Saying counting was still going on, when ledgers could tell that in a jiffy?

In the process of demonetization of money

Did more money come back than printed legally?

Did we legalize the counterfeit currency

also, blunderously?

That the RBI now has billions of excess money.

If it is so, how long can we cover up this fallacy

Akin to devaluing and destroying our currency?

How did this situation come to be?

Such blunder, blunder, most blunderously

Did we demonetize only to legalize counterfeit currency?