India’s Demonetization “Shock Therapy”: State Sponsored Financial Repression | Global Research - Centre for Research on Globalization
SRIDHAR CHAKRAVARTHI RAMAN: Critics of demonetisation were shouted down
as unpatriotic with the passionate fervor of McCarthyism. Donning the
mantle of a messianic prophet PM Modi exhorted the poorest of the poor
to move towards a cashless society. Cutting beneath the masochistic
hysteria of pain and national sacrifice whipped up by the propaganda
machine of corporate media and the Modi government, one discerns
fundamental flaws in the argument that demonetization eradicates black
money and counterfeit currency. It is as absurd as arguing that to
prevent bank robberies one has to completely shut down the banks.
