It is important to know that after that, the largest banknote in India has only as much value as the smallest in Euroland.
On the one hand, this step by the Indian central bank could boost bank deposits, and on the other hand, this will increase the pressure on people to use electronic money. Of course, with this comes a much greater opportunity for monitoring. And what happens in India often comes to us with a time lag. The 2,000-rupee banknotes in question are worth about 23 euros. The largest banknote in India is the 500-rupee note, which is worth the equivalent of about 5.70 euros. India already launched a similar action in 2016, when all larger banknotes were declared invalid. And this was done with the extremely short warning time of just four hours. Then they had to be taken to the bank. Incidentally, Ajay Banga, a native of India and a "fighter" against cash, has been elected president of the World Bank.
If higher-value banknotes are withdrawn from circulation, this can also be seen as a form of demonetization. Similar efforts to those in India were made in Euroland in 2016, when the European Central Bank stopped printing 500-euro bills. Pressure from the U.S. was responsible for this; only the smallest euro bills were to be available. In India today, there is probably also the thought in the background that spending restrictions should not be circumvented with cash in the upcoming election. So money can become problematic, but this does not happen with gold and gold investments.
Among the promising companies that have gold in their projects is Victoria Gold - https://www.commodity-tv.com/ondemand/companies/profil/victoria-gold-corp/ -. The company is successfully producing gold at its Eagle gold mine in the Yukon.
In Ecuador lies Aurania Resources' - https://www.commodity-tv.com/ondemand/companies/profil/aurania-resources-ltd/ - exciting The Lost Cities gold-copper project. Exploration work is underway.
Current corporate information and press releases from Aurania Resources (- https://www.resource-capital.ch/en/companies/aurania-resources-ltd/ -) and Victoria Gold (- https://www.resource-capital.ch/en/companies/victoria-gold-corp/ -).
In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 - 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also applies: https://www.resource-capital.ch/en/disclaimer/
On the one hand, this step by the Indian central bank could boost bank deposits, and on the other hand, this will increase the pressure on people to use electronic money. Of course, with this comes a much greater opportunity for monitoring. And what happens in India often comes to us with a time lag. The 2,000-rupee banknotes in question are worth about 23 euros. The largest banknote in India is the 500-rupee note, which is worth the equivalent of about 5.70 euros. India already launched a similar action in 2016, when all larger banknotes were declared invalid. And this was done with the extremely short warning time of just four hours. Then they had to be taken to the bank. Incidentally, Ajay Banga, a native of India and a "fighter" against cash, has been elected president of the World Bank.
If higher-value banknotes are withdrawn from circulation, this can also be seen as a form of demonetization. Similar efforts to those in India were made in Euroland in 2016, when the European Central Bank stopped printing 500-euro bills. Pressure from the U.S. was responsible for this; only the smallest euro bills were to be available. In India today, there is probably also the thought in the background that spending restrictions should not be circumvented with cash in the upcoming election. So money can become problematic, but this does not happen with gold and gold investments.
Among the promising companies that have gold in their projects is Victoria Gold - https://www.commodity-tv.com/ondemand/companies/profil/victoria-gold-corp/ -. The company is successfully producing gold at its Eagle gold mine in the Yukon.
In Ecuador lies Aurania Resources' - https://www.commodity-tv.com/ondemand/companies/profil/aurania-resources-ltd/ - exciting The Lost Cities gold-copper project. Exploration work is underway.
Current corporate information and press releases from Aurania Resources (- https://www.resource-capital.ch/en/companies/aurania-resources-ltd/ -) and Victoria Gold (- https://www.resource-capital.ch/en/companies/victoria-gold-corp/ -).
In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 - 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also applies: https://www.resource-capital.ch/en/disclaimer/
