The Death of Old Money

The sudden demise of the big 500 and 1000 rupee notes has brought mixed reactions like shock, surprise, fear or bewilderment. People are trying to cope with the fact that what mattered most to them has now become paper. This leads us to contemplate the value of money in our lives.

This is a time of uncertainty and the rumours are in plenty. But the writing on the wall is clear. Many will have to part with their ill-gotten money. Many people will have to part fully or partially with what has been serving them as security for that emergency or important event or even as a sleep mattress or wealth tucked away inside false ceilings, beneath floorboards, in garden sheds and inside cars.

As you try to come to terms with this reality, understand that with the changing seasons comes new growth. With the shedding of leaves, new sprouts will also make an appearance. You might feel unstable initially, but the foundation of growth from here onwards will be strong. Ultimately, how much do you really need to live? A bed, a roof and a vehicle at the most? Everything else is a comfort more in the mind than in reality.

Our mother earth has given us enough for every person’s need but not enough for our greed. This move to eliminate black money will lessen the yawning divide between the haves and the have-nots in this country. As more and more people operate legally, it will become a level playing field. In a competition between equals, only creativity and uniqueness will thrive. This will invite abundance and prosperity and ultimately growth.

As more and more businesses in the country become tax compliant and legal, there will be less fear and more gaining of power in doing business. Customers will have ease of payment as technology will come in. Bribery and corruption – the two great cancers in this country will go down or maybe eradicated for good. Less black money in the system will lead to a lowering of prices and more availability of goods and services. In the coming years, instead of thinking “how can I save money” businessmen will concentrate on “how can I earn money?”

In the coming weeks and months, we are going to experience deeper changes in the way things are run, but ultimately, once the transition has been made, the new order that emerges will be favourable for everyone.

My suggestion to you at this time would be this: refrain from panic and do not do anything silly out of desperation. If there is a time to practice detachment, now is that time. And pray for our Prime Minister. May God give him the strength and wisdom to help our country go smoothly through this transition.

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