Explain to me exactly how anything becomes 'worthless'? INR 500 or 1000 still has the same value. No one's trying to take money away from people. It's just the physical instrument (i.e. banknote) that is useless. All this move does is encourage more people to use the banking system where their hard-worked-for money is:
1. Safer than sitting around in a poorly secured house
2. Able to earn them interest @ a minimum of 4% p.a. instead of sitting idle
No one is suggesting anybody go into debt to buy a house. They can still write a cheque or use a bank draft to buy that house 'in cash' if they wish. Do they really need to do this using bundles of banknotes in a briefcase / duffel bag? I agree there's a lot of inconvenience and confusion but the scale of the problem is immense. IMHO the long-term net losers in this are either people who have exploited the system intentionally, or those who are unwilling / unable to accept the transition to modernity.
To describe it as a disaster is a bit much. Yes there are long queues outside banks and a lot of ATMs weren't functioning for a while, but a 97% cash based economy in the 21st century is just ridiculous. I'm certainly no fan of the present government but this is the one good idea they've managed to come up with. There's a lot of considered opinion for and against the move, but here's my first person view.
1. You absolutely should not be able to buy a house or a car in cash - yet this is pretty much the norm across much of the country, more so in the secondary market where the amounts changing hands are larger. This means widespread tax evasion at every level, and an unfair burden on those who are part of the 'organised' economy and pay income tax (around 3% of the population).
2. India happens to have a rather annoying neighbour who has set up currency presses for the sole purpose of generating counterfeit Indian currency. Sure, they'll probably start printing the new notes as easily after a while but if the overall cash portion of the economy reduces, the impact of fake currency also does
3. People have inordinate amounts of cash lying around - and I'm talking regular average people. It's not because they have some lofty ideals about anonymity or government interference, just because they can't be bothered to use the banking system. If all that idle money (we're talking 10s of billions of dollars here) were put to work interest rates would drop, more resources for infrastructure building would be available and so on
In other news Trump considers declaring twitter a national communications utility and making it a government regulated utility guided by the first amendment, and then promptly kicks all the whiny bitches currently running it out on their asses.
These twits (pun intended) on the fascist progressive left wing can't behave as civil citizens, they will very quickly learn the difference between the minimal power a megacorp has vs the hard power that the leader of the free world has.
What does Angela Merkel have to do with any of this??
I think they meant to contrast metal roofs (poverty) with paved roads (more developed areas). It's quite clear from the picture even if you didn't bother with the actual article
There's a reason KFC is selling battery packs to poor (and hungry) people: Profit.
They might be hungry but are not likely to be poor! Not too many poor people eat at KFC in India. Fast food brands are positioned rather differently here.
"This is to announce Nexenta: the first-ever distribution that combines GNU and
OpenSolaris. As you might know, Sun Microsystems just opened Solaris kernel under
CDDL license, which allows one to build custom Operating Systems. Which we did...
created a new Debian based GNU/Solaris distribution with (the latest bits of)
Solaris kernel & core userland inside."
I live in Bangalore too and I recently signed up for a connection with Airtel that gives me unlimited downloads at night plus free phone service (limited) for about Rs. 700 ($ 15) a month. download speeds are pretty decent too.
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Explain to me exactly how anything becomes 'worthless'? INR 500 or 1000 still has the same value. No one's trying to take money away from people. It's just the physical instrument (i.e. banknote) that is useless. All this move does is encourage more people to use the banking system where their hard-worked-for money is:
1. Safer than sitting around in a poorly secured house
2. Able to earn them interest @ a minimum of 4% p.a. instead of sitting idle
No one is suggesting anybody go into debt to buy a house. They can still write a cheque or use a bank draft to buy that house 'in cash' if they wish. Do they really need to do this using bundles of banknotes in a briefcase / duffel bag? I agree there's a lot of inconvenience and confusion but the scale of the problem is immense. IMHO the long-term net losers in this are either people who have exploited the system intentionally, or those who are unwilling / unable to accept the transition to modernity.
To describe it as a disaster is a bit much. Yes there are long queues outside banks and a lot of ATMs weren't functioning for a while, but a 97% cash based economy in the 21st century is just ridiculous. I'm certainly no fan of the present government but this is the one good idea they've managed to come up with. There's a lot of considered opinion for and against the move, but here's my first person view.
1. You absolutely should not be able to buy a house or a car in cash - yet this is pretty much the norm across much of the country, more so in the secondary market where the amounts changing hands are larger. This means widespread tax evasion at every level, and an unfair burden on those who are part of the 'organised' economy and pay income tax (around 3% of the population).
2. India happens to have a rather annoying neighbour who has set up currency presses for the sole purpose of generating counterfeit Indian currency. Sure, they'll probably start printing the new notes as easily after a while but if the overall cash portion of the economy reduces, the impact of fake currency also does
3. People have inordinate amounts of cash lying around - and I'm talking regular average people. It's not because they have some lofty ideals about anonymity or government interference, just because they can't be bothered to use the banking system. If all that idle money (we're talking 10s of billions of dollars here) were put to work interest rates would drop, more resources for infrastructure building would be available and so on
In other news Trump considers declaring twitter a national communications utility and making it a government regulated utility guided by the first amendment, and then promptly kicks all the whiny bitches currently running it out on their asses.
These twits (pun intended) on the fascist progressive left wing can't behave as civil citizens, they will very quickly learn the difference between the minimal power a megacorp has vs the hard power that the leader of the free world has.
What does Angela Merkel have to do with any of this??
Unfortunately, the acronym NSA is already taken by another agency.
That would be unseemly.
I think they meant to contrast metal roofs (poverty) with paved roads (more developed areas). It's quite clear from the picture even if you didn't bother with the actual article
What kind of sandwich runs on thorium?
Here's one
There's a reason KFC is selling battery packs to poor (and hungry) people: Profit.
They might be hungry but are not likely to be poor! Not too many poor people eat at KFC in India. Fast food brands are positioned rather differently here.
Why is it so important to think on your feet for a software development position? You need to be able to think *at your desk*.
Actually you just need to be able to Google the answer.
A 5-stage ring oscillator is the hardware equivalent of a program that displays 'Hello World!'
...Cosmo Kramer came up with this one?
Bus station: Where the bus stops Train station: Where the train stops Work staion: ??
but then forty nine percent of people have a below-average IQ
Foccault's pendulum should definitely be in any top 10 list worth the name
start of a new meme? "In fundie kansas..."
with a sign on it saying "Beware of Leopard".
Don't forget to check out the Steganography demo (link at bottom of page)
Exactly. Electronic educational aids/toys have been around for ages. What does lookin like a robot have to do with anything?
nah, it's just another term for analogist[google.com]
In the UAE too i think - not sure
PWM is pulse width modulation
I live in Bangalore too and I recently signed up for a connection with Airtel that gives me unlimited downloads at night plus free phone service (limited) for about Rs. 700 ($ 15) a month. download speeds are pretty decent too.
try searching for Falun Gong.
Google lists the falundafa.org site as the first entry.
Accoona lists it somewhere midway down the page.