51–60 of 136 posts
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Become a high class escort, where legal. Very high class. Accept only cash.
What is that responding to? The problem is how to safely spend/clean that much cash. You're describing how to accumulate cash, which makes the problem (in the parent comment) harder.
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Nontrivial to use. Still need to pass it to someone to convert fiat to crypto. Bitcoin is a public ledger, would be even easier to tie to him in some ways.
Trade the entire wallet, that isn’t registered to anyone’s name? Seems easy enough to move money illicitly with crypto
How does one even expect to use €20M of physical paper cash? You're going to get scrutiny from the government and/or financial institutions if you try to deposit it into a bank. I guess you'd "launder" it somehow, but does that even work anymore? Major purchases with cash put a giant government bullseye on your back these days. That is if you could actually make those purchases. I'd imagine most major purchases that…
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I refuse to patronize places that are card only. Not everyone can use electronic payments. New York and some other cities actually made it illegal, as it's discriminatory.
How on earth is requiring card payments discriminatory? Providing cash payment options is absolutely not free and implies extra risk on behalf of the business. Refusing to take part in the banking system is not worth penalizing businesses for. Let the free market work.
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I'd be happy just paying groceries with cash for the rest of my life tbh. Although I can imagine a lack of grocery shopping on anyone's bank account would be suspicious. But moving to a country where nobody knows you / nobody cares would be an option too. Of course, then you get the challenge of moving 20 million in cash abroad...
why? i never pay with card except for online purchases. i withdraw cash from an ATM. pretty much my whole withdrawal history on my bank account is ATM, rent and utilities and almost nothing else.
I doubt the person you're replying to thinks not a single person in the world pays cash at the grocery store, but I think it's reasonable to think that a lot of people do use credit cards at the grocery store (for points/rewards OR for actual credit; not to mention the convenience of not needing to have the cash on hand).
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What is that responding to? The problem is how to safely spend/clean that much cash. You're describing how to accumulate cash, which makes the problem (in the parent comment) harder.
You can put money in the bank as legal income and pay your mortgage with that.
Plus, there has got to be more critical information -- left out of the comment -- on how to get such a scheme to work. I highly doubt that most countries have left a massive hole in their anti-money-laundering systems that allows a person to simply claim to have massive transactions in cash with no (or easily fakeable) documentation.
How does one even expect to use €20M of physical paper cash? You're going to get scrutiny from the government and/or financial institutions if you try to deposit it into a bank. I guess you'd "launder" it somehow, but does that even work anymore? Major purchases with cash put a giant government bullseye on your back these days. That is if you could actually make those purchases. I'd imagine most major purchases that…
I’d probably “dig it up from my backyard because I’m a newly minted metal detector hobbyist” or something. If the bills were marked though I think your point is solid, it’s hard to make bad money clean. Find some millionaire to pay you your own money for a job or something, give them 10%? I guess you still need to launder the money somehow. Now I want to know how people can turn illegal cash millions into clean laund…
Earlier quoted context omitted.
I refuse to patronize places that are card only. Not everyone can use electronic payments. New York and some other cities actually made it illegal, as it's discriminatory.
How on earth is requiring card payments discriminatory? Providing cash payment options is absolutely not free and implies extra risk on behalf of the business. Refusing to take part in the banking system is not worth penalizing businesses for. Let the free market work.
1- you are on the secret unaccountable banking blacklist
2- you lack proper identity documentation
3- you are a fugitive from justice
Without a bank account, you can't get a payment card, and, in a cashless world, you can't buy food.
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The 500 euro bill hasn’t been produced since 2019. Apparently 25% of them were in circulation in Spain, despite the Spanish economy being only a fraction of the eurozone.
In the UK they heavily discourage even the £50 note (roughly €60/$63). We basically only use 5/10/20. Most shops won't take them and cash machines don't give them out. Which is pretty odd now given how high inflation got here for the last few years. Here's an article from 5 years ago saying that £50 notes were widely regarded as just used by criminals. https://www.bbc.co.uk/news/business-48993008
How does one even expect to use €20M of physical paper cash? You're going to get scrutiny from the government and/or financial institutions if you try to deposit it into a bank. I guess you'd "launder" it somehow, but does that even work anymore? Major purchases with cash put a giant government bullseye on your back these days. That is if you could actually make those purchases. I'd imagine most major purchases that…
All you need to do is make sure you have an actual phone number that someone can call to rent a car, and make sure your prices are outrageous. Give the job of answering the phone to your sister's kid, or your girlfriend.