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View Full Version : Indians are under pressure to abandon the Indian rupee



kritikvernunft
11-18-2016, 10:16 PM
The Indian prime minister Modi is determined to force the Indian merchants and traders to deposit their commercial liquidity buffers into the riba/interest-infected Indian banking system. The retailers can no longer pay the wholesalers who can no longer pay the importers, unless they pay each other through the banks; which is something that none of them want.

Of course, the Indian trade system is better off holding commercial liquidity in bitcoin. The Indians are now paying $900+ instead of the international price of $750. Indians absolutely do not mind paying $150 more per bitcoin than anybody else on the globe:

https://news.bitcoin.com/india-payin...in-cash-crisis

By paying Indian companies for their exports, or Indian workers in the Middle East for their work, in bitcoin, it is currently possible to book super-profits, and do fifty-fifty on the gains, with the Indian counterparty. It is a one-way bet. It is currently possible to collect very tangible premiums to help Indians re-monetize their trade buffers into bitcoin, away from the riba/interest-infected Indian banking system.

The Indian prime minister Modi has created a huge currency shock that will indeed re-monetize the Indian trade system, but not into his new rupee notes or into the riba/interest-infected Indian banking system. The trust in the rupee note is gone forever. Modi's new rupee note is too inferior for anybody to consider it. The Indians want an alternative. The simplest one is bitcoin.

Just for bringing one, single bitcoin to India, today, you get paid a $150 fee. Take out US dollars, and then lather, rinse, repeat.
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