Amid social unrest and loss of faith in the nation's currency, India's economy has ground to a halt with its Composite PMI crashing by a record in the last month as demonetization strikes.
However, even more problematic is that Indians have validated 82% of bank notes rendered worthless by PM Modi, dramatically undermining the government’s estimate of unaccounted wealth in the economy. As Bloomberg reports,
Buy Silver - May Replace Gold as Preferred Money of India
Silver replacing gold as India's preferred investment option again after 100 years?
by Fergal O'Connor, Senior Lecturer in Finance, University of York
In what may be the latest example of unintended irony, shortly after the October 7 pound sterling flash crash, which saw the UK currency plunge by more than 9% against the dollar, falling from $1.26 to $1.14, in about 40 seconds - a historic flash crash in one of the world's most liquid currencies - we presented a forensic explanation of what happened in that minute when sterling plummeted in a bidless market from Citigroup.
Submitted by Daniel Cloud
“Donald Trump is either too incompetent to understand that his foolish phone call threatens our national security, or he’s doing it deliberately because he reportedly wants to build hotels in Taiwan to pad his own pockets.”
- (Democratic National Committee Spokesperson)