Earlier quoted context omitted.
They have a cocain problem there ...
Who said it's a problem?
Reporters get murdered and royalties get threats. Did some witness not also get killed?
Cash payments above €3000 to be outlawed in Netherlands
71–80 of 802 posts
Re: Cash payments above €3000 to be outlawed in Netherlands
#72Some 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.)
I think Switzerland and UAE also (with SG) have large notes, with some commitment to continue cash payments.
Strange bedfellows in the fight for freedom, but all welcome to the cause.
Re: Cash payments above €3000 to be outlawed in Netherlands
#73Can't read Dutch, but I'm pretty sure there is a version of "muh' terrorism!" in there.
mostly its "muh industrial scale illegal drug synthesis"
Firstly its a fucktonne of cahs sloshing around being laundered, which has a bunch of nasty petty crime sideffects. but also the literal tonnes of toxic waste that keeps on popping up everywhere.
Re: Cash payments above €3000 to be outlawed in Netherlands
#74The war on privacy continues.
Re: Cash payments above €3000 to be outlawed in Netherlands
#75We had a guy in Usti nad labem coming to Raiffeisenbank every few weeks and deposing money, approximately 4b usd in total. The bank was supposed to run due diligence but its Raiffeisenbank which does not seem to give a shit. I can sort of understand trying to limit cash when you see that the due diligence is mostly omitted. https://www.irozhlas.cz/zpravy-domov/smenarny-prani-spinavyc...
4 billion dollars! Supposing he carried a large army rucksack each time, full with 25kg of US $100 bills. That would be 2.5 million dollars a time, and it would still take him 1600 trips.
If he came "every few weeks" at 20 times a year, it would take him 80 years. A billion dollars really is a lot of money.
Perhaps he brought the money by wheelbarrow or car or container truck, or he dealt exclusively in €500 notes, so I suppose it's not completely unbelievable.
Re: Cash payments above €3000 to be outlawed in Netherlands
#76Won't this just encourage large transactions to go back to barter of other valuable items?
Eg. "I will swap you this $50k car for this $50k bag of diamonds"
Re: Cash payments above €3000 to be outlawed in Netherlands
#77There 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.
> Remember: A trader in the EU is not obligated to accept more than 50 metal coins for the same payment. I shall try and remember that.
Interesting. That's max 100EUR in coins
And I'm glad coins are more popular in Europe than in the US because those $1 notes take too much space
Re: Cash payments above €3000 to be outlawed in Netherlands
#78Give 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.
> Greece has it as low as 500 Euro.
Any source for this?
[EDIT] As pinted by other commenter:
https://www.europe-consommateurs.eu/en/shopping-internet/cas...
They also mention "There is no cash limit for car purchases. However, a change in the law is already being discussed in Greece.".
Re: Cash payments above €3000 to be outlawed in Netherlands
#79NL is just crazy with all the rules and all-around money, they have so much control over it that I have never seen that in any other place.
Re: Cash payments above €3000 to be outlawed in Netherlands
#80If 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)
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