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Indian snuffs and India's economy

So, I have been reading some disturbing stories at zerohedge about cash abolition in India grinding industry to a stop.

True? Not true?

How do these changes effect Indian snuff manufacturers? Perhaps our friends in India will enlighten us.

@perumalsnuff
@sixphoto

Comments

  • The entire Indian economy has been derailed badly
    People are still in shock .cash is scarce.
    More than 50% of population don't have bank accounts.
    75 % of people don't have cards
    We still are not sure how to proceed further
  • I am truly sorry to hear it @sixphoto . I understand that this is really hard on agricultural workers who are cash based. That is what made me wonder how it would effect snuff manufacturers.

    I am hoping things work out for the best for everyone.
  • Hmm. I hadn't followed this story, but I just read up on it. Amazing. In a cash based society where a huge number of people don't have bank accounts or cards, the government suddenly declares all the big notes to no longer be legal tender. People are allowed to exchange old notes for new ones, but the government didn't print enough to meet the demand. A hundred people or so have died while queuing, people turned away from hospitals because they can't pay. And we think we've got problems with an EU directive about snuff labels.
  • @lunecat, quite possibly. But I was talking specifically about the snuff directive.
  • @JakartaBoy I don't know about you, but I sort of take it for granted that I can pull out the plastic and pay for something local, or use it to order snuff from the UK. Sometimes it is hard to imagine that some places and people are strictly cash based.

    They claim that poorer people can use a mobile phone account to make transactions but I suspect a lot can't afford the phone itself.

    I have kept an eye on this because agricultural workers are greatly effected and this is the time of year when they would normally borrow money for seed, etc. A lot of Indian snuffs use Indian tobacco.
  • Yeah, I take it for granted most of the time. But I lived in Indonesia during "the crisis", when in a few months, the dollar went from about 1800 to 17500, so I've seen at first hand what happen when money suddenly becomes worthless. No one saw it coming, either. It just happened. Slightly different from India's demonetization, but even so. Money is only worth something because everybody believes it, and when they suddenly stop believing, it isn't pretty.
  • 1800 to 17500 is some serious inflation!

    At the moment, I am grateful the dollar-pound exchange rate is the closest to 1:1 that I can recall. It makes snuff a bargain for the time being.

    As for the India situation, I think I might just stock up on my favorite Indian snuffs.
  • Situation is tough right now. But things will settle down soon. Manufacturers like us are not much affected. Since it is a habitual product, our demand was decent.
  • @ Perumalsnuff Things ere not going to settle down to normal anytime soon.

     what was normal in the past will not be normal anymore.

    Cash is and will be scarce for a very long time.
  • I cannot believe i had not heard about this! Why not allow current use of high denomination bills until enough currency is printed? It seems simple though I seriously doubt it is
  • @Aamon They want cashless society. If everyone uses a bank card or a mobile phone account, it is much easier to tax and keep up with where money is. I gather this is to eliminate a black market-something no society has ever done. People will find a way around it.
  • @josephjames this is absolutely correct. I would hazard a guess that in the absence of a paper currency the black market will shift to a foreign paper currency or to a consumer product, much like cigarettes and freeze dried coffee become currency in prison. I may be wrong on the how of it but the black market will find a way.
  • @SandwhichIsles Venezuela is a great example. The government has tried to fix prices but people have to hit the black market for things like aspirin, diapers, just about everything. The black market prices are vastly higher in Bolivars and people use US dollars even though it is unlawful to do so.

    Governments have to make some effort to curb a black market, but a smart government will allow a part of it to function unmolested because it does help grease the economic wheels. In India's case, I have read that 98% of economic activity is in cash. It makes the decisions there unfathomable.
  • The EU doesn't have to @lunecat. The inhabitants don't reproduce and they are being supplanted by people from other regions of the world. It's a form of suicide.
  • @josephjames It would be suicide if the whole thing hadn't been the agenda of the eugenicist globalist elite since the beginning of the last century. I'll go back to my 'fake' news sites now, since any place that tells the truth (like zerohedge) has been deemed 'fake' by Obammunists and their EU cronies.
  • @SandwhichIsles I am trying to be very careful to follow forum rules about certain prohibited discussion. :D

    I will say that I am a long time reader of zerohedge myself. Fake news is the new buzzword for the same types who want to tell us if we can snuff, how much snuff we can buy, etc. I just ignore them.

    The United States hasn't suffered the fate of many nations because of the petrodollar. However, I am very much aware that the worm turns eventually. The US could be the next Japan, or the next Venezuela.
  • edited December 2016 PM
    @josephjames Yeah, I get a little hot-headed sometimes and run my mouth off topic, there's other forums for that. Sorry everyone. Anyway, your last post is spot on.
  • I gotta say, I did make some comments earlier that were more on economic issues than on snuff, so I can't blame anyone else for not following forum rules. I'll leave it at that.
  • @jakartaboy As long as we're all civil I think we'll all be fine. The people who frequent this forum, by and large, seem to me to be respectful contemplative adults that won't let a little colorful off topic conversation and speculation derail the good will we've all grown for each other. Anyway, back to the topics at hand.
  • @SandwhichIsles, I've told this story before but I remember running into the lawyer who represented my former wife in our divorce case at a pipe club meeting. Shaped like a beach ball, horrible dress sense. I was about to stride past him, but he invited me to sit and offered me a pipe full of a Dunhill vaper that I'd never tried. I couldn't resist, so I sat down. It was a great tobacco. We talked about meerschaums and vapers generally. He was a surprisingly okay bloke, if you stuck to tobacco and kept away from property settlements. I left convinced of the civilizing impact of tobacco and discussions there upon.
  • @JakartaBoy That is a great story. It makes me think of the 'peace pipe' aspect of smoking tobacco. You have certainly proven it.

    More pipe smokers and snuffers=a more peaceful world.
  • AamonAamon Member
    edited December 2016 PM
    I completely agree all forms of tobacco seem to bring all walks of life together. Especially Snuff and Pipe users. 
    I understand this has happened quite frequently historically, although due to banns and stigmas attached to tobacco users nowadays I have noticed this a whole lot more recently.
  • @ JosephJames   a nice article on the current state of affairs in India.Demonetisation has achieved nothing but have created opportunity for black marketeers to earn millions by exchanging old currency for new or gold.

    This govt.has really lost its credibility, there have been more than 50 alterations or new regulations ever since nov.8 ,note ban.

    IT deptt and CBI are let loose, raids are happening  every hour of the day a new currency or gold hoard is found.The general mood of the business has turned pessimistic.




  • @sixphoto I hope they will turn this around. I watched the videos in the article and was struck by the coconut farmers. It makes me worry for tobacco farmers and Indian snuff.

    I will be buying my favorite Indian snuffs for as long as they are available.
  • Indian public was looking for a strong leader ,instead found a Hitler !
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