Submitted by Michael Shedlock via MishTalk.com,
Indian banks are fearful of running out of cash as lines queue up to withdraw money.
Bankers say they cannot cope with any sudden increase in demand, and warn against lifting cash withdrawal limits.
Submitted by Mike Krieger via Lberty Blitzkrieg blog,
With most global market closed for Christmas holiday, and traders taking the day and the week off, global stocks traded mixed in thin, subdued conditions as the dollar dipped against the yen, with the USDJPY sliding for a fourth straight day to 117, while the EUR was flat at 1.0450, taking stock of the US 10Y yield which closed lower on Friday.
Submitted by Jayant Bhandari via Acting-Man.com,
India’s Currency Ban, Part VII
This article continues right where Part VI left off (for earlier updates on the demonetization saga see Part-I, Part-II, Part-III, Part-IV, and Part-V).
Submitted by Jayant Bhandari via Acting-Man.com,
India’s Currency Ban – Part VI
India’s Prime Minister, Narendra Modi, announced on 8th November 2016 that Rs 500 (~$7.50) and Rs 1,000 (~$15) banknotes would no longer be legal tender. Linked are Part-I, Part-II, Part-III, Part-IV, and Part-V, which provide updates on the demonetization saga and how Modi is acting as a catalyst to hasten the rapid degradation of India and what remains of its institutions.