Black Slack:

I hope black is out since this refers to black money (money that is part of the underground economy in India that bypasses Government taxation). Recently the right wing Prime Minister of India suddenly announced that 500 and 1000 Rupee notes were no longer legal tender and had to be exchanged for new 500 and 2000 Rupee notes within a few days and only a maximum of Rs 250,000 could be exchanged. This would mean those persons with tens of millions of cash stashed away (black money) would lose their illegally gotten gains. Unfortunately not enough new currency notes were ready and the common people and many small businesses have been enduring many problems and long queues at banks and other financial institutions. While those with the most amount of black money that is stashed in offshore accounts will likely not be affected and a few powerful businessmen with close ties to the Prime Minister will likely not feel the after effects of this sweeping reform, the ordinary people are left to bear the burden of a hastily and secretly conceived action by a small coterie of leaders. While all black money may not be out, the Prime Minister and his government will certainly be out of office at the next election due to the backlash from the irate public.

Those in power have seen the wisdom of discontinuing only the two largest denominations of currency - Rupees 500 and Rupees 1000 - to be replaced with the new Rupees 500 and Rupees 2000. They are supposedly targeting individuals possessing black money in sackfuls of Rs 500 and Rs 1000 sewn into their pillows and mattresses and other recesses of their homes. Most of the black money is held abroad in tax havens in offshore accounts so their wisdom is open for debate.