In this discussion with Maurice Jackson of Proven & Probable, I discuss the chaos unfolding in India after Modi’s demonetization and the growing restrictions around gold.

India’s cash ban is not creating reform. It is destroying commerce, forcing people into barter, empowering the state, and pushing ordinary Indians to protect themselves through gold and geographical diversification. The policy is exposing the fragility of India’s institutions and the dangers of giving arbitrary power to a corrupt state.

Watch the full discussion below:

Key Takeaways

• Modi’s demonetization is creating chaos across India’s cash-dependent economy.
• Commerce is breaking down as people are forced into barter and informal arrangements.
• The cash ban is expanding state power and pushing India further toward police-state behavior.
• Gold remains one of the few forms of wealth that ordinary Indians trust.
• Restrictions on gold and the rising gold premium show how people respond when confidence in currency collapses.
• Geographical diversification is essential when governments become more aggressive toward savings and private property.