Some countries like Denmark (starting 2020) have banned paying with the 500 Euro bank note. It's also no longer printed, but some 600 million of them still exist. I've seen a documentary where (I think it was Swedish police) would like to ban 200 Euro notes as well.
Cash payments above €3000 to be outlawed in Netherlands
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Re: Cash payments above €3000 to be outlawed in Netherlands
#22This is good for Bitcoin.
Re: Cash payments above €3000 to be outlawed in Netherlands
#23Let bring back gold payments! There are already some institutions that offer gold certificates: notes that represent gold stored in some bolt and collectable on demand.
It was a good idea all along and the reason that "gold back currency does not fit a growing economy" is BS if not properly substantiated.
Re: Cash payments above €3000 to be outlawed in Netherlands
#24Give it a decade or two of inflation, and that's cash effectively outlawed
In Canada, and I think the US we cannot cross the border with > 10k in cash (edit: more if you declare it as mentioned below). The law has been there for as long as I can remember, be I sure purchasing power of 10k has gone down by at least a factor of 4-10 over the life of the law. All regulation type laws need sunset clauses and all dollar amounts should be inflation linked. The government shouldn't be able to scam…
I think the law technically states that you have to declare, if you have more cash. It's not directly forbidden, is it?
Re: Cash payments above €3000 to be outlawed in Netherlands
#25Give it a decade or two of inflation, and that's cash effectively outlawed
In Canada, and I think the US we cannot cross the border with > 10k in cash (edit: more if you declare it as mentioned below). The law has been there for as long as I can remember, be I sure purchasing power of 10k has gone down by at least a factor of 4-10 over the life of the law. All regulation type laws need sunset clauses and all dollar amounts should be inflation linked. The government shouldn't be able to scam…
You can enter the US carrying as much money as you’d like. Can’t speak for Canada.
Re: Cash payments above €3000 to be outlawed in Netherlands
#26Give it a decade or two of inflation, and that's cash effectively outlawed
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Re: Cash payments above €3000 to be outlawed in Netherlands
#27Give it a decade or two of inflation, and that's cash effectively outlawed
In Canada, and I think the US we cannot cross the border with > 10k in cash (edit: more if you declare it as mentioned below). The law has been there for as long as I can remember, be I sure purchasing power of 10k has gone down by at least a factor of 4-10 over the life of the law. All regulation type laws need sunset clauses and all dollar amounts should be inflation linked. The government shouldn't be able to scam…
I think you can, you just must declare carring the cash if it's more than $10k.
Re: Cash payments above €3000 to be outlawed in Netherlands
#28Give it a decade or two of inflation, and that's cash effectively outlawed
Cash payments over (few) thousands are not permitted in the most/many EU member state already. NL are just catching the train. Greece has it as low as 500 Euro.
Re: Cash payments above €3000 to be outlawed in Netherlands
#29Some countries like Denmark (starting 2020) have banned paying with the 500 Euro bank note. It's also no longer printed, but some 600 million of them still exist. I've seen a documentary where (I think it was Swedish police) would like to ban 200 Euro notes as well.
The only reason the 500 Euro bank note exists in the first place was that the Germans wanted a replacement for their 1,000 Mark note.
(Apparently their reasoning was something along the lines of: what if you want to buy a car?)
Meanwhile in Singapore we have a 10,000 dollar note (which is worth about 6,800 Euro at the moment.)
Re: Cash payments above €3000 to be outlawed in Netherlands
#30Give it a decade or two of inflation, and that's cash effectively outlawed
In Canada, and I think the US we cannot cross the border with > 10k in cash (edit: more if you declare it as mentioned below). The law has been there for as long as I can remember, be I sure purchasing power of 10k has gone down by at least a factor of 4-10 over the life of the law. All regulation type laws need sunset clauses and all dollar amounts should be inflation linked. The government shouldn't be able to scam…
You can (of course) cross the border with more than $10k in cash. You have to declare it.