431–440 of 802 posts
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.
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> 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…
> The answer to this is very simple: none of your business. 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.
Since when?
Maybe I just want to buy a handsome dog that won a show?
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You can deposit whatever amount you want into your bank account, they just might ask questions regarding where the money came from, and if you show that you sold products there's zero issues.
> show that you sold products there's zero issues well, there might be one small issue! how can you 'show you sold products'? after all, you sold them!! isn't the cash sufficient to show you sold products? hasn't it been sufficient for thousands of years?
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Right, but they don't control the distribution and transaction of cash. They may stop producing €500 notes—for example, but there is nothing they can do to stop these farmers or undocumented immigrants from bundling together >€3000 in smaller notes for use in paying rent, buying cars, or investments.
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Any sources which would substantiate this claim?
Won'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"
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.
Are Euros accepted in Denmark when the currency is the krone? I recognise that Denmark is part of the EU, but it has an opt-out for the Euro. Is it standard practice to accept Euros in general, be it 500 Euros or less in parts of the EU that have not adopted the Euro (eg. Sweden, Romania, the Czech Republic, etc.)?
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.
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Nice to see that there's no limit where I live which is Norway. Hopefully, there are no plans to introduce one.
The libertarian-minded tend to think that this kind of freedom is necessary to prevent government overreach and oppression, but in reality the bulk of the people making large cash transactions are either avoiding taxes (ripping off you, the taxpayer) or participating in organized crime (human trafficking, weapons/drugs/counterfeit black markets, etc). I would also argue that the only people making cash transactions t…
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I am confused by your post. What are some good reasons to allow cash payments above 3000 EUR?
I'm not a european but I do have an example. A few years back I purchased a project car in cash. I don't carry checks, who does anymore? And my bank would have given me grief trying to transfer an amount that large at once. I had tried before and it would trigger their fraud detection and give me headaches. Its good its there but can be a barrier when I'm just trying to buy something. So going to branch and withdrawi…
Easy as that, no need for checks or cash.
I personally think they should just legalize and regulate a lot of the drugs which would be much more effective. People use drugs anyway, they generally do it in a safe way, it makes no sense to keep it illegal, it leaves the whole market to crime.
Legalize, regulate, and charge fat taxes. The crime problems are a symptom of our ridiculous drug laws. If we don't solve the root issue, measures like these will not change anything.