331–340 of 802 posts
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.
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.
Apologies if that sounded rude but Its often that I see people claiming to be EU citizens or sympathizers dropping the most arrogant takes. To the point I prefer to browse this website after 7PM in my timezone to avoid "the EU-only HN time".
in italy is 1,000EUR for a while, similar in other EU countries with varying thresholds. I personally prefer how the UK does it or other countries where private individuals have no limit but if you have a commercial activity you must have some regulation in place > The consumers can make cash payments without any limits. > The traders, however, need to register themselves with tax authorities as 'High Value Dealers'…
No, it is 5,000 in 2023 and never was 1,000:
Earlier quoted context omitted.
Cash is money. Cash is immune to bank runs. If you have $10,000, then you have $10,000. If you deposit $10,000 in a bank, then you have $0 and a promise from a bank that has $1,000 and a promise (from somebody else) for $9,000.
So maybe we should fix fractional reserve instead of having an issue against cash? I would rather pay $10k with a bank transfer than having to carry that much on me.
Earlier quoted context omitted.
Wow, as someone from the US I always thought the $1 notes were far superior to the equivalent coins in other countries. I dislike having coins in my pocket, but already have a note or 2. Adding a couple more adds negligent space.
You ruin notes if you put them in your pocket. Coins you can just drop in the coin pocket on jeans. I wish the 1USD coin was more than a legal tender collector item. Maybe up to 2USD would be nice.
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.
> Why would someone need to pay for 10k in cash? The answer to this is very simple: none of your business. I take strong issue with the word "need." Why do you need that car? That television? That four bedroom house? Why do you need that bow and arrow? For sport, you say? Why not play some ball game instead? Why do you need a chess set when you can play digitally online without killing a tree? Why do you need those f…
It kinda is. Paying something $10,000 cash strongly suggests you’re buying something illegal, or you got this money illegally (not necessarily unethically, but still illegally).
That the only argument you can find is « it’s none of your business » doesn’t exactly play against this ruling.
I wonder what more this law is hoping to achieve? Stopping that one guy who buys 10 laptops with a bag of cash? The merchants are already required by law to report any transactions above a certain amount made by cash.. so it is nothing new.
If I sell my car on Marktplaats, I cannot accept cash? is that it?
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> They can't control the black market in drugs, what makes them think controlling a black market in cash, which is a million times more desirable, will be any more successful? Well, for one, they control cash production > It's not a lot of money, and given inflation, diminishingly so. This is targeted at law abiding smallholding farmers where roadside transactions are often done in cash and farmers everywhere have a…
>Do you have any actual example of that ? What transaction do small farmers need to do along roadside for thousands of eur ? As kid of small farmer I don't remember anything like that ever happening. While each transaction might be <3000, on a good weekend, I could see it totaling to be over that amount. At this point, would it be illegal for the farmer to show up to his bank to deposit 3001? Does the farmer now need…
Earlier quoted context omitted.
> They can't control the black market in drugs, what makes them think controlling a black market in cash, which is a million times more desirable, will be any more successful? Well, for one, they control cash production > It's not a lot of money, and given inflation, diminishingly so. This is targeted at law abiding smallholding farmers where roadside transactions are often done in cash and farmers everywhere have a…
>Do you have any actual example of that ? What transaction do small farmers need to do along roadside for thousands of eur ? As kid of small farmer I don't remember anything like that ever happening. While each transaction might be <3000, on a good weekend, I could see it totaling to be over that amount. At this point, would it be illegal for the farmer to show up to his bank to deposit 3001? Does the farmer now need…
Sounds good to me. It's hard to imagine anyone actually legitimately paying amounts like that cash these days.