Earlier quoted context omitted.
Americans aren't used banking systems that work.
I feel like we have decent banking here…?
Isn't it dangerous to give out your bank account number in the US, people can withdraw from it if they know it or something?
EU-wide maximum limit of €10K for cash payments
391–400 of 915 posts
Re: EU-wide maximum limit of €10K for cash payments
#392Earlier quoted context omitted.
Let's be honest for a second. There are very few instances where a person would ever 'need' to pay for something over €10k in physical cash?
Never bought a secondhand car have you?
I'm a relative old-timer, so have lived through plenty of times when electronic payments weren't commonplace, and have also bought a number of second-hand cars. I never used cash - I used banker's drafts, because I didn't want to be mugged and the untraceable cash to go missing. (And even then, they were all worth under €10k).
Re: EU-wide maximum limit of €10K for cash payments
#393Combine the limit of 10k with rampant inflation and 10 years from now you won't be able to buy a TV with cash, they won't update the limit based on inflation.
Re: EU-wide maximum limit of €10K for cash payments
#394This is obviously the first part of a major push to force us to use Central Bank Digital Currencies. Now that they are banning cash, we will be controlled like never before. This is the beginning of the end of freedom.
Where I live people in my generation have been primarily cashless at least the last quarter of a century, and yet we still significantly outrank the US in the freedom indexes, which isn't exactly a high bar these days, but still serves to underline that the typical American centrist argument that using primarily paper cash somehow improves freedom is wrong.
Re: EU-wide maximum limit of €10K for cash payments
#395Earlier quoted context omitted.
I think you are jumping the gun on freedom here. There are very few remaining instances in the region where people still pay large sums in cash. Transaction costs are so low (and mostly nonexistent) that cash remains in use either in very specialised circumstances or as part of “grey economy” activities.
WHO CARES if it "only has a few instances". I will never understand where people will say that having our right LITERALLY REMOVED somehow isn't eroding our freedom. It simply is, you are objectively less free now.
The uppercase tells me you have strong feelings about this and maybe I’m missing something obvious. Would you explain why my freedom will be diminished by this? I can still pay and buy whatever I want. It just happens faster and more secure.
Re: EU-wide maximum limit of €10K for cash payments
#396Earlier quoted context omitted.
Right. But that is illegal and in my view also immoral. If you want to change the law campaign for it. But breaking tax laws is not a victimless crime. You are freeloading/stealing from the rest of us.
It's impossible to make people vote to give themselves less money.
That’s factually incorrect. Cf most of Northern Europe for the past 60 years.
Re: EU-wide maximum limit of €10K for cash payments
#397Earlier quoted context omitted.
I would make the bold assumption that people paying over €10,000 for a used car in cash is a very rare situation.
What’s the alternative? Venmo or it’s equivalent, or a [certified] check? I’d prefer to still have the option of a cash payment, even if it’s one I’d rarely if ever utilize.
> What’s the alternative?
Just a bank transfer.
Re: EU-wide maximum limit of €10K for cash payments
#398Earlier quoted context omitted.
It's impossible to make people vote to give themselves less money.
That’s factually incorrect. Cf most of Northern Europe for the past 60 years.
Edit - ah, I think you mean politicians? My comment still stands though. I don’t know the polling in the US, but spending on social programmes in Europe is broadly inline with public opinion, so the insunuation of a democratic deficit is misplaced, at least here.
Re: EU-wide maximum limit of €10K for cash payments
#399Earlier quoted context omitted.
And 99% of the time people do that is because they’re moving banks and they leave with a cashiers check instead of cash.
So, to be clear, you can’t actually liquidate your account.
No, it’s that it is incredibly rare for someone to actually want to liquidate their account because the reason people do is usually to move banks and that use-case is better served with a cashier’s check. It’s not at all surprising that random branches don’t keep that much cash.
Re: EU-wide maximum limit of €10K for cash payments
#400This will affect maybe 0.001% of the population. No one drops a stack of 10K euro when they buy something, it just doesn't happen.
Whenever someone introduces new restrictions to freedoms, there is always someone who says, 'relax, it will affect only few people'. Rinse and repeat, and this way, piece by piece, all your freedoms will be taken away. Remember: Government is not your friend. It needs to be kept in check. Financial freedoms, untraceable transactions, etc help keep government in check. Yes, it allows crime. But guess what, when govern…
> Whenever someone introduces new restrictions to freedoms, there is always someone who says, 'relax, it will affect only few people'. Rinse and repeat, and this way, piece by piece, all your freedoms will be taken away.
Yes, now I don't have the freedom to drive over the speed limit. They took that away from me!