[IAC#RG] VERY IMPORTANT NOTICE from IAC regarding note exchange

Dear Subscribers

After extensive discussions with fairly high levels of RBI today, IAC is making following suggestions for all HONEST / TAX-PAYING Indians

1) Utilise the across the counter exchange facility to exchange notes into Rs. 100, Rs. 50 and Rs. 10 series only  There is likely to be a HUGE shortage of these notes in future. Stand your ground and Do not get tempted into taking news series Rs. 500 and Rs. 2000 notes (I cannot share why here).

2) Stock up on coins.

3) The IAC is now taking the legal position that the recent action of Govt of India, allegedly for #IndiaFightsCorruption , fully exposes the BANKRUPTCY of the Banking sector and the BANKRUPTCY of the RESERVE BANK OF INDIA in particular.

3) In any civilised country there would have been a run on the Public Sector Banks by the common people. What this demonetisation actually amounts to is the REPUDIATION of the solemn promise made by each RBI Governor in turn to "pay the bearer the sum of Rupees one thousand on demand" this means that each RBI Governor is bound to give value of Rs. 1,000 on demand and not give just another meaningless piece of paper to keep the PONZI currency cycle going. The "value" of Indian coins is fixed in the Indian Coinage Act. which is why a Rs.1,000 coin "sells" for Rs. 10,000

4) So remember this - only accept OLD NOTES or OLD COINS as a temporary measure. Do not make the mistake of accepting shiny NEW NOTES for OLD as 'Alladin' did.

Sarbajit Roy

National Convenor

INDIA AGAINST CORRUPTION, jan andolan