461–470 of 915 posts
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Latvia
So you think that Latvia, which has 8K EUR cash limit, is forced by be Germany and France to not allow cash payments over 10K EUR and you are dreaming of the destruction of EU so you can do above 10K EUR cash transactions? Are you counting on Latvia not enforcing its own laws for that? What’s your reasoning here?
This 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.
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?
You probably shouldn't finance a vehicle you can afford with current interest rates, and you may not want to give your debit card to a secondhand dealer for processing.
While I do have fond memories of paying less than $10k for a beater, those days may not be coming back. In 10 years, high-end phones and computers could easily fall outside that limit too.
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I’d imagine it’s fairly unlikely you’re paying cash for that large amount, most people would choose a more convenient form of transfer surely? How much time is wasted in these transactions just counting and verifying the money? Also what if lots of people decided to transact like this. It’s not like the banks have paper to back all your deposits, they’d need time to go physically print paper if it became that popular…
The solution is to make larger denominations, not ban cash sales. But then the government would give up power, so that isn't going to happen. US dollars say explicitly "THIS NOTE IS LEGAL TENDER FOR ALL DEBTS, PUBLIC AND PRIVATE", it would be ridiculous to say 'under $10000'. Once the government has control what's to stop them doing like China has proposed, and make your virtual currency have velocity, meaning if you…
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What were you saying "If cash is legal tender, then any amount is, by default, legal" meant? The only meaning of "legal tender" is that someone with a court judgment against you can be compelled to accept legal tender. It doesn't say anything about whether it's legal for you to use it in other transactions.
“ Legal tender is anything recognized by law as a means to settle a public or private debt or meet a financial obligation, including tax payments, contracts, and legal fines or damages. The national currency is legal tender in practically every country. ” https://www.investopedia.com/terms/l/legal-tender.asp I’m sorry my use of the word “legal” in the context of “legally acceptable tender” triggered this response. Yo…
This is false. You immediately provide an example that shows it's false:
> (You’re not trading a car for $value in meth or guns..)
The fact that cash may be provided to settle a debt, even when the creditor doesn't want it, does not mean that it's legal to transact in cash. Meth could be legal tender too, and in that case it would remain illegal to transact in meth.
> I’m sorry my use of the word “legal” in the context of “legally acceptable tender” triggered this response. You’ll have to forgive me: English is my first language.
As another native speaker, I'm sure you're aware that the phrase "legal tender" has no colloquial meaning or use, and while "tender" does, the colloquial meanings are restricted to senses having to do with gentleness or sensitivity to touch.
This 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.
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So you think that Latvia, which has 8K EUR cash limit, is forced by be Germany and France to not allow cash payments over 10K EUR and you are dreaming of the destruction of EU so you can do above 10K EUR cash transactions? Are you counting on Latvia not enforcing its own laws for that? What’s your reasoning here?
The law is stupid. Just because Latvia has a similar law doesn’t make it any less stupid.
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Americans aren't used banking systems that work.
I feel like we have decent banking here…?
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I’d imagine it’s fairly unlikely you’re paying cash for that large amount, most people would choose a more convenient form of transfer surely? How much time is wasted in these transactions just counting and verifying the money? Also what if lots of people decided to transact like this. It’s not like the banks have paper to back all your deposits, they’d need time to go physically print paper if it became that popular…
The solution is to make larger denominations, not ban cash sales. But then the government would give up power, so that isn't going to happen. US dollars say explicitly "THIS NOTE IS LEGAL TENDER FOR ALL DEBTS, PUBLIC AND PRIVATE", it would be ridiculous to say 'under $10000'. Once the government has control what's to stop them doing like China has proposed, and make your virtual currency have velocity, meaning if you…
Isn't this literally what inflation is?
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Maybe you do, but not all countries function as well as yours. I'm Greek, and I remember a few years ago when we could only withdraw 50 euros a day from ATMs. You're on the happy path, and wondering why anyone would complain when the path is so happy. The problem is what happens when that breaks down, and when that happens you definitely want to be able to use cash.
Thank you. "the happy path" is the best way to put it I have heard in a while. I genuinely feel that people having that level of naivete is the result of them living in a fairly stable country for far too long. Dear people who come up every time with their own version of "if you have nothing to hide you have nothing to fear", break your bubble sometimes, talk to your work colleague from outside of America (or "the we…
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> You wouldn't walk 200 miles on foot to go meet a friend when you had a car on the driveaway? Perfect example. I wouldn't do that, no, but I wouldn't want it to be illegal.
True but would you want it to be illegal if the vast majority people that did walk 200 miles on foot instead of driving, did it because they were doing it to get away with committing a crime?