रहिमन धागा प्रेम का, मत तोरो चटकाय.
टूटे पे फिर ना जुरे, जुरे गाँठ परी जाय

When Modi demonetized the 500/1000 rupee notes, he essentially went back on the promise written on those notes.

Those notes and in fact every note that you hold in your hand or wallet is just a fancy printed piece of paper which carries a sovereign promise.

A promise to honor the value printed on the note.

By going back on the sovereign promise Modi told the citizens that;

• The notes are just fancy printed pieces of paper with no intrinsic value and can be destroyed anytime by the government or by one man's foolish decision. 

• The Reserve Bank issuing these notes is not trustworthy to accept the notes when ever presented to it for honoring them. 

• The Banking system is thus based on these fancy printed pieces of paper is equally untrustworthy. 

• In one stroke Modi destroyed people's confidence in the Currency, Reserve Bank, Banking System and the Government of India.

This is the single largest fallout of the demonetization exercise.

It is said that trust takes years to build but can be destroyed in a matter of seconds.
That is exactly what Modi did on 08.11.2016. He destroyed the trust.

And therefore no one wants to hold on to currency any more, especially the higher value 2000 note.
Everyone is worried about what the maniac is going to do next.

Money with a Sword who takes a monthly Monkey Bath.