When Modi said that he was going to announce something important to the nation at eight, I thought, it could be only one of two things. That he wanted to do a review of Sultan of Delhi. Or that he was going to enter the Big Boss House. Instead he demonetized 500 and 1000 rupee notes, and it seemed that his election promise of depositing 15 lacs of black money in every bank account was coming true, except that it was not someone else’s black money in your account, which is what people thought, but your own black money in your own account, and this is what happens when you don’t go over the fine print.
Over the next few days, I have sought to write my two five hundred rupee notes about demonetization, but I have been told I should not, because I am a NRI, and what would I know. I was told this by the very same people who in India have strong opinions on Donald Trump and white privilege, and who refuse to accept Donald Trump as their president, perhaps because their president is Pranab Mukherjee. So I have decided to shut up, and also because I am not really an economist, and this, seems something that only specialists can be seriously expected to evaluate.