In this article for Acting-Man, I continue my analysis of India’s demonetization and the sharp rise in gold prices after the government’s attack on cash.

The cash ban is spreading chaos through India’s economy and institutions. What began as an assault on cash is now moving toward gold restrictions, capital controls, tax raids, and deeper financial repression. As trust in the banking system falls, gold remains one of the few forms of wealth Indians still understand and trust.

Read the archived article at Acting-Man via the Wayback Machine →