Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

EU-wide maximum limit of €10K for cash payments

consilium.europa.eu

Post reply on HN
Print view View original

141–150 of 915 posts

Re: EU-wide maximum limit of €10K for cash payments

#141

Post by tom_ »

tgv wrote: post #123
flandish wrote: post #24

Earlier quoted context omitted.

Get the boot out of your mouth. If cash is legal tender, then any amount is, by default, legal. This law makes it not fully legal tender (after amount X). It is disgusting. Stop pretending the government (any) has the “average” man’s best interest. Stop pretending they care.

That's not what legal tender means, and the expression "boot out of your mouth" is a new one to me. Perhaps you meant the more derogatory "foot out of your mouth"?

I assumed it would be to do with this: https://www.urbandictionary.com/define.php?term=Bootlicker - as in, you are being criticised for apparently siding with people that you should more correctly see as your oppressors.

It is always possible I have misunderstood the point too.

Re: EU-wide maximum limit of €10K for cash payments

#142

Post by RunSet »

tzs wrote: post #113
rapsey wrote: post #11

Earlier quoted context omitted.

Anyone can use that loophole it requires no special legal machinations.

That reminds me of the old argument that laws prohibiting same sex marriage or prohibiting engaging in homosexual sex do not discriminate against gay people since they prohibit both gay and straight people from marrying someone of the same sex or engaging in homosexual sex.

"The law, in its majestic equality, forbids rich and poor alike to sleep under bridges, to beg in the streets, and to steal their bread."

― Anatole France

Re: EU-wide maximum limit of €10K for cash payments

#143

Post by _-david-_ »

Havoc wrote: post #5

This one kinda makes sense to me. Can't really think of any good legitimate use cases for large amounts of cash. Closest I can think of say a bar or something similarly cash heavy getting cash and paying suppliers directly. (which is in itself problematic @ tax)

Here is an easy one. Paying for food when there are power outages.

Re: EU-wide maximum limit of €10K for cash payments

#144

Post by 127 »

This will improve democracy and freedom, how? Values both US and EU supposedly stand for.

Bad practices and horrible incentives happen throughout society. It's not just money laundering that's the problem. It's much easier to get wealth and power in exchange for your regulatory actions from powerful actors if you have more control on the citizens. It's much easier to extract wealth and resources from people who have less power over you. The less economic freedom you give people, the less they have incentive to create new wealth.

Stricter money controls will increase political corruption.

Re: EU-wide maximum limit of €10K for cash payments

#146

Post by stuckinhell »

I've noticed some similar in America recently. I've got friends who move 5-6 figure sums for various personal businesses, and their banks have been extra critical of their transactions. One bank got so annoying, that my friend tried to close the account, and couldn't! Lately hearing more and more stories about people getting de-banked, as been making me feel a little nervous.

In the cases of the banks and my business friends, I'm more worried the banks are extremely over leveraged and don't want to part with any cash (like 2008 on steroids).

- reposting this comment from another article on nigerian cash limits

Re: EU-wide maximum limit of €10K for cash payments

#148

Post by CharlesW »

stuckinhell wrote: post #146

I've noticed some similar in America recently. I've got friends who move 5-6 figure sums for various personal businesses, and their banks have been extra critical of their transactions. One bank got so annoying, that my friend tried to close the account, and couldn't! Lately hearing more and more stories about people getting de-banked, as been making me feel a little nervous. In the cases of the banks and my business…

I believe this has been the case in the U.S. since 2013: https://www.occ.treas.gov/topics/supervision-and-examination...

Re: EU-wide maximum limit of €10K for cash payments

#149

Post by merinofg »

peoplefromibiza wrote: post #134
woodpanel wrote: post #68

I just love how the grandstanding of European green-progressives of the past, when they positioned themselves as champions of privacy, completely flipped once they came to power. "Name one practical reason to pay amounts higher than 1.000€ in cash." – unknown progressive

> "Name one practical reason to pay amounts higher than 1.000€ in cash." it's 10.000 euros, you're off by an order of magnitude. Can you name one practical reason to pay more than 10k cash?

He is not. In Spain, for instance, it is already illegal to pay with cash costs above 1.000€ in any commerce. You are forced to buy it using a credit/debit card.

Re: EU-wide maximum limit of €10K for cash payments

#150

Post by buran77 »

collegeburner wrote: post #139
andai wrote: post #129

Earlier quoted context omitted.

It's to phase out cash. Can't be a good citizen unless every transaction is logged and monitored!

and in 5 years, you'll be using the great new CBDC! so the ECB can automatically remove your money to comply with negative interest rates!

By the time Madame Lagarde is done a lot of people will be praying to still have something in the bank to pay negative interest for.

With the current inflation €10.000 will be worth far less in the near future, and I'm certain the amount won't be updated yearly to account for that. This 10k "magic number" has stayed the same for a long time. This isn't about money laundering as much as about control over even relatively low value cash transactions.

Post reply on HN