This is the kind of thing that, if it surprises you, deserves to be digested over a long period of time.
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0 prosecution of bank fraud & assorted other crimes; normalization of changes like this; arbitrary rich-first policy.
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States consistently rule in favor of banks vs. their own citizens, implement monetary policies that squeeze the poor.
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Is a billionaire with their assets in offshore accounts going to care about the Rupee bill? Nah.
But the poor get crushed.
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The proposed motivation of fighting crime is a red herring. Multiple states have illegalized sane personal financial choices.
I guess you could argue this is policy rather than finance, but the problem is global so I don't see what else to call it.

