In this essay, I examine India’s announcement withdrawing the INR 2,000 note and why it should be understood as another form of demonetization.

The issue is not merely a currency note. It reveals the arbitrariness of the Indian state, the confusion of its bureaucracy, and the ease with which ordinary people’s lives can be disrupted by grand political gestures. India’s repeated interference with cash reflects a deeper problem: mistrust of citizens, hostility toward private wealth, and the state’s instinct to control rather than serve.