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James Wilson @jamewils
, 16 tweets, 5 min read Read on Twitter
Some #Demonetisation thoughts!

Many here asked me why I am not reacted to the latest RBI Annual Report which exposed DeMon as nothing but a perverted dream of a Tughlak.

First of all there was nothing surprising elements there for me!!
Then everyone was discussing the amount of 99% returned to the system! Some sigh of relief as our Urjit stop counting, but I don't get any evidence that he has stopped that!!

Because still we hear about old SBN notes are seized by agencies ;)
Annual Report 2017-18 of the RBI that Rs.15.311 trillion Specified Bank Notes was returned. While RBI in its AR in 2016-17 itself admitted that as of June 30, 2017, received Rs.15.28 trillion of SBN. 

Total SBN demotenised was Rs.15.44 trillion

99.2% vs 99.0% is a big deal?? 😉
Why it's not a surprise to me? Because I told you that this is going to happen when our Finance Minister to Attorney General to Economist wizards to Anchor cohorts to social media trolls were saying that Rs. 4-5 lakh crores will never return & the windfall will fill our treasury!
Please read my blog post on 20th December 2016, I said that after analysing the trends of SBN returned till 10/12/16. After that RBI stopped disclosure and fully devoted to counting mocking common sense of every sensible citizen of this great nation
decipherdemon.blogspot.com/2016/12/a-monu…
Okay, for the lazy Twitter crowd, I will give the screenshot of the penultimate paragraph where in I made it damn clear. My estimate was the amount returned by we Indians not included Nepal and Bhutan portion :)
So instead of disclosing the exact amount return to the system, the regime made RBI Governor a laughing stock, the Counting Patel was born!!!

Cohort media started new spin stories of digital revolutions and income tax base growth!!! All lies were peddled as Gospel to you!
That time I done a series of write ups in @thewire_in exposing these fake news peddled by the palace stenographers of the great Indian main stream media!

I will update these articles soon with updated data. But please read those old articles to understand the power of propaganda
This article was a clinical examination of whether India moved to the digital Utopia offered by the Emperor!! If you still have doubts look at CIC? It's now ₹19.4 trillion as of 7/9/18, we are back to pre-demon CIC/GDP ratio
thewire.in/business/digit…
The great IT growth story was busted through a series kf articles starting from this one!

Some still trust the propaganda that DeMon created miracles! Even Niti Aayog refuses to buy this poopaganda! 🤣

thewire.in/business/fact-…
Aww..This story forced the regime to issue a clarification!!!

But you cannot cover a lie with another big lie!

So it's easy to expose them!

thewire.in/economy/modi-c…
This story was followed up with another one!

Read this and understand what is really happening on the ground!!

thewire.in/economy/demone…
Next there was orgasams about a less CIC/GDP ratio followed by RBI Annual Report of 2016-17, no one bothered when cash was taken away from the system, Tughlaks were killing the golden goose!

So I was forced ask this then

thewire.in/economy/india-…
Nothing will prevent the Bureau Chief to peddle alternative truths!! He is a master orator who can mesmerise the Lyuten's cohorts wag their tales according to the biscuits thrown at them..

Oh boy! Now he is in competition with me, blog writing 😛

thewire.in/economy/tall-c…
Let him write blogs, his blogs will be peddled as Gospel by media's panna pramukhs!!

If you are getting windfall gains from all taxes, why they are looting you with petrol taxes? Where all this money goes? Which black hole?

Don't think and ask questions.

Coma is so alluring
Then my final piece on demonetisation was done for the FRONTLINE, on the anniversary issue on great Tuglakian experiment!

Let's read this comprehensive take too!!

frontline.in/cover-story/bl…
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More from @jamewils see all

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Imaginary savings!!!

They claim that record income tax collections, claim record GST collection, raised petrol tax to the high, Spectrum & Coal re-aunctioned & got lakhs of crores..

Still, they dont have money to pay the rent of leased aircrafts for PM's world tours.
Please listen to @databaazi, @iam_anandv and @digitaldutta. They all busted these lies regularly!!

Why GoI depends on world bank to sell their claims? Put the raw data on the public domain for scrutiny.
Also listen to @roadscholarz too. All these people are challenging these tall claims consistently here!!!
Read 8 tweets
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Most hilarious news of the day!!

That "chip" note, which claimed to end fake currency & kill black money is now going to have a premature death..

Even Tughluq cant stop laughing 🤣 theprint.in/economy/india-…
Now my prognosis:

Dont fall into the news that these notes are going to be withdrawn, they will stay there!!

RBI is in a dilemma with these ₹2000 notes, which used as a quick fix solution, yep, they are facing the proverbial situation of between devil with deep sea.
₹2000 notes was a quick fix solution during DeMon to replace ₹1000 notes, which are in circulation, numbering 6.858 billion, which constituted 38% of the total Currency in Circulation (CIC).

Why?

If you change the denomination, you should need only 3.429 billion ₹2000 notes
Read 25 tweets
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Let me rewind some of my columns on #DemonetisationDisaster

My last year's detailed take in @frontline_india on

"BLUSTER AS A POLICY"

frontline.in/cover-story/bl…
I concluded that article with the following observations

#DemonetisationDisaster
Of course, in that article I have given an estimate of how much currency is seized as black money due to #DemonetisationDisaster
Read 27 tweets

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Let’s start with the overall picture: in FY13, Total Debt & Liabilities stood at Rs16,339, which was 72.7% of GDP. This increased by a whopping 82.8% in five years to Rs29,861 to 86.8% of GDP in FY18.
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#Demonetisation #Notebandi
1. Thread. Today the Government will try to refute the idea that the RBI numbers on 99.3% of demonetised currency being deposited in banks does not mean Demo was a disaster. Remember the following and watch out for some false arguments as well. 1/n
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1/ Since PM Narendra Modi tweeted about the electrification of all the villages, a lot of idiotic tweets like this 👇🏼popped up.
Such fools must understand, this is not Modi’s achievement; but as usual, Modi claiming the paternity of someone else’s child.
2/ Rural electrification was going on in India since long. In 2005 April, the then UPA govt launched Rajiv Gandhi Gramin Vidytikaran Yojana (RGGVY) with the aim to electrify every village in India and give free electricity connection to every BPL family
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RBI has come with an excellent paper on the benefits of #Demonetisation - with undeniable facts and data and not rhetoric that has been offered by newly minted economists or stale shayari from the Congress stable. Consider some facts in next few tweets.1/10
Currency in circulation (CIC): CIC was down by 8% Y-o-Y as against 17.2% rise in previous year. So as of 27th Oct 2017, CIC was around 91% of pre-demonetization levels and actually 81% if same growth rate had continued in absence of demonetization. 2/10
Currency in circulation as proportion of broad money (M3) fell to 12.3% on 13th Oct 2017 as compared to 14.4% on 11th Nov 2016. The conclusions in RBI paper are thus significant. 3/10
Read 11 tweets

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