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If the endgame is to ban cash, what would be the back up plan for in case of war, solar flare* or other natural disaster? *electromagnetic pulse destroy electronic devices (no ATMs, card readers)
Why would someone need to pay for 10k in cash? Where does that cash come from? 60% of the times, it's money laundering every time.
edit: I suppose since I'm in EU and I'm only 30 I'm "used" to the 1k limit, while non-EU (or specifically USA) people might be grabbing their pitchforks.
If the endgame is to ban cash, what would be the back up plan for in case of war, solar flare* or other natural disaster? *electromagnetic pulse destroy electronic devices (no ATMs, card readers)
There are many similar restrictions on other countries. Here is a list for Europe: https://www.europe-consommateurs.eu/en/shopping-internet/cas... The equivalent of 3,000 - 4,000 Euro seems to be the norm.
Wow Greece has a limit of 500 euro, but: "There is no cash limit for car purchases" wth? EDIT: Also this something that I didn't know about the UK > With regard to the change, there are unlimited payments of £ 5, £ 2 and £ 1. Coins with a face value of 50p, 25p and 20p can pay amounts up to £ 10, with 10p and 5p up to £ 5 and with 2p and 1p up to 20p.
wth?
Cash isn't great, but some people don't use online banking - and in a private sale, only a fool would hand over their car keys to a stranger in exchange for a cheque.
(Of course, this was a much bigger issue 15 years ago - these days we have faster payments, and the vast majority of people can make payments from their phone.)
If the endgame is to ban cash, what would be the back up plan for in case of war, solar flare* or other natural disaster? *electromagnetic pulse destroy electronic devices (no ATMs, card readers)
It wants to control everything, even how we spend our cash and how.
Give 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…
The maximum limit for cash payments in Italy is 1000€, so 3k would still be a lot. Why would someone need to pay for 10k in cash? Where does that cash come from? 60% of the times, it's money laundering every time. edit: I suppose since I'm in EU and I'm only 30 I'm "used" to the 1k limit, while non-EU (or specifically USA) people might be grabbing their pitchforks.
For their own personal reasons. Purchasing a business, a vehicle, a property or other real/tangible asset, hush money, avoiding a lawsuit, and so forth.
> Where does that cash come from?
It doesn't matter. Why do you care where people get their currency from? Do you have a rash of mint or bank robberies or something?
There are many similar restrictions on other countries. Here is a list for Europe: https://www.europe-consommateurs.eu/en/shopping-internet/cas... The equivalent of 3,000 - 4,000 Euro seems to be the norm.