The new $500 rupee notes are reportedly defective:
In its hurry to meet the demand for new notes, the Reserve Bank of India has made major errors which can have serious consequences for the demonetisation exercise. The gaffe — RBI has printed two variants of the new Rs 500 notes.
According to a report in The Times of India, the newspaper has seen at least three case studies where the new Rs 500 note varied from each other. According to one customer quoted in the report, Gandhi’s face has a more than visible shadow. Apart from this, he has pointed to alignment issues with the national emblem and also serial numbers.
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Representational image. Reuters
Another Mumbai resident has told the newspaper that the colours of the notes he got were different. The report has cited one more such instance of variation.
Meanwhile, a RBI spokesperson has termed them as “printing defects” that have propped up because of “the current rush”. She has also said people can still freely use it for transactions or even return it to the central bank.
One thing is for sure: the same note with different features would mean confusion for the common man. It will be easy for the ‘experts’ in counterfeiting to cash in on this confusion.
How is the common man to know whether the Rs 500 note he has is indeed original or fake? It has to be remembered that the fake note circulation has been rampant in India despite the RBI’s frequent notifications on how to detect such notes.
Clearly, the awareness level among the general public about the security features of currency notes is very low. Notes with slight variations in features will only add to the confusion about the features.
Announcing the decision to withdraw Rs 500 and Rs 1,000 notes and issue new ones on 8 November, the prime minister had said that the move was aimed at destroying the counterfeit racket, ending terror funding and also stop black money generation.
If the haste has resulted in errors that will only facilitate counterfeiting, then it will kill the very objective of the demonetisation exercise.
[Lila: I beg to differ. It is very clear to me that the objective of demonetization was to attack and destroy the cash economy and facilitate further such attacks, requiring more and more digitalization and police state measures.]
Interestingly, the RBI had published on its site the security features of the new Rs 500 notes before the notes came into circulation.
It will be better for the RBI to find some practical solution to the problem before any damage is done.”
The defects in the news notes, added to the introduction of Rs 2000 note, as well as reports of new types of black markets emerging in relation to the note-ban, substantiate my theory that note-bandhi is a weapon OF the counterfeiters and of the black money of the global cabal.
It is intended to be used against economic and political opponents SELECTIVELY.
Thus, income tax raids have become a tool to crush selective mafias.
Most fascinatingly, THE ENEMY IS THE HINDU.
This underscores once again that the elevation of Hindi and Delhi is an elevation (by the global corporatists behind Modi) of language and location, but not of Hindu religion and culture.
It is an elevation of the middle-class Hindi- speaking constituency of the BJP , not of Hinduism.
The ban on notes was intended to crush the black money channels of the political and economic competitors of the globalists.
But, it was also intended, it seems, to facilitate money-laundering and counterfeiting by the current government and its friends, hence the repeated back-tracking and confusion; the defective counterfeit detection machinery; the pressure placed on the banking system.
We saw the same sort of selectivity during the 2008 economic collapse in the US.
At the time, what the major media termed a bail-out and transfer of toxic assets turned out to be a form of inter-bank cannibalism, with the tax-payer footing the bill.
Something similar is at work here.
I firmly believe that the notes being inserted now will be counterfeited and that will compound the confusion about numbers coming from the RBI.
The chaos will make the insertion of excess notes very easy.
We could then have massive inflation, despite inflation-targeting policies on paper.
This will be more economic and financial war…terror…brought to the aam admi in India.