No longer was the American election of any consequence as the matter on hand. At exactly 8 pm, the PM (Prime Minister) of India, Mr N Modi announced that from midnight that day, the existing currency notes in the denomination of Rs 1000 and Rs 500 would no longer be accepted as legal tender. Within 48 hours fresh currency notes would be circulated with certain checks and balances in an attempt to flush out people holding large amounts of undeclared cash; "black money" as it is commonly called in India.
By 9 pm Indian time, social media was rife with updates, rumours, rants, videos and jokes. It was kind of amazing, that in less than 30 minutes of the PM concluding his speech so much creative quality content could be generated. There was true excitement. For the first time in Indian history, post independence, had a PM taken such a bold step in an out an out war on cash hoarders, criminals, counterfeiters, and indirectly terror. The timing of the event was no less than the armed surgical strike authorised by him last month, on the terror camps hosted by our neighbour Pakistan.
The night saw utter chaos in India as people scrambled to lose as many of the currency notes they could, wherever permissible.
The Indian 9/11 (9th November)
The Indian Nation was in for a twin shock, the first, Donald Trump had crossed the magic 270 to become the most unpopular President-elect in the history of the USA; the Bombay Stock Exchange dived 1689 points within minutes of opening. No one in India cared much for other news including oil falling nearly 3% to US$ 44.82 per barrel. Gas stations, grocery stores, medical facilities and banks had lines resembling Venezuela, as did the overnight inflation in gold, though reasons were different. Inconvenienced yes, but people were, by and large, supportive of the PM's move, as they were of Trump's victory, and I am not being sarcastic here. Even the developers of the 5 Trump Towers in India were smiling knowing that the expensive non-moving inventory would sell out in a few days now despite the attack by the PM on "black".
Don's victory is being attributed to the possibility of a surge in white votes going his way, and Modi is counting on the fact that people of his Nation will transact more with "white" notes (money). Don's exceptionally mature speech to work for all of America did not win him too many fans, looking at the number of protests on the street in his own nation. Modi's exceptionally well planned move now appears less and less potent in the way the community holding the largest amount of cash have reacted (or rather remained unumoved and/or unaffected). The common (non white) man is scared in America, as is the common (non white money) man in India, albeit for different reasons.
Will Don succed in making America "Great" again? Will Modi succed in making India "Great" again? I don't have an answer. I wasn't a fan of Trump or Modi, still 'am not, but I do have a lot of respect for their grit in doing what they set out to do, despite the odds. Best wishes to both the Men (Gentle - they cretainly are not) on what they have set out to do. I wonder if President Duterte has an endearing term for both of them. The world wants to know (said the way Arnav Goswami would).
Updated: November 9, 2016 12:49 IST
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