This will affect maybe 0.001% of the population. No one drops a stack of 10K euro when they buy something, it just doesn't happen.
I bought a van for $11k in cash once.
EU-wide maximum limit of €10K for cash payments
311–320 of 915 posts
Re: EU-wide maximum limit of €10K for cash payments
#312Earlier quoted context omitted.
Let's be honest for a second. There are very few instances where a person would ever 'need' to pay for something over €10k in physical cash?
Horrible take. 10k is a pittance. Small business owners, farmers, people buying and selling vehicles, etc. It’s not a large amount of money. If you go down to the apple store and buy a couple well specced computers the bill is going to be over 10k.
So are you from Europe? Or do you know anyone in Europe who has made such a transaction in physical cash?
Re: EU-wide maximum limit of €10K for cash payments
#313Earlier quoted context omitted.
> The EU is an incredible boon to civil rights We don’t even have a true right to free speech. That puts us behind the U.S., because I struggle to think of a “civil right” that we have but Americans don’t. And before you pull “healthcare”, first of all, it’s got nothing to do with the EU, and secondly, in most EU countries the state-funded healthcare is so abysmal that everyone who can afford it still takes out priva…
> We don’t even have a true right to free speech. That puts us behind the U.S., because I struggle to think of a “civil right” that we have but Americans don’t. > And before you pull “healthcare”, first of all, it’s got nothing to do with the EU, and secondly, in most EU countries the state-funded healthcare is so abysmal that everyone who can afford it still takes out private insurance. So free speech is an EU matte…
> Also a much better political and judicial system - first past the post? Politically appointed judges?
Much better judicial system? What about not having jury trials is better?
Without having a jury that decides your fate makes the entire process political.
Politically appointed judges? That’s just federal, in the US most state judges are elected. The DA is an elected office. In virtually all european countries they are all appointed offices. Appointed by the politicians in charge.
Justice system in most EU countries absolutely sucks compared to the US. In several EU countries there’s no concept as double jeopardy, because the prosecution can appeal an acquital.
I’d much rather be a defendant in the US, than in any EU country.
> So free speech is an EU matter but healthcare is a local one? No, both are decided locally with limited EU oversight - e.g. the EU is trying to punish Poland and Hungary's free speech limitations.
ECJ explicitly stated that objectionable or hate speech can be banned. So yes, that made it EU matter.
As for the EU doing something about Polands and Hungary’s disobedience? They don’t actually seem to be doing anything, because the EU as an institution is completely impotent, and they can’t risk being tough on their member states, for the Union could actually disintegrate. UK proved that is, in fact, physically possible to leave the EU. So Hungary could do that too, and so could Poland.
Re: EU-wide maximum limit of €10K for cash payments
#314Earlier quoted context omitted.
I want to be able to pay for at least a year of rent without relying on a bank. I want to be able to pay for as much as possible without leaving any record with a third party if I don't want to. I also want to be able to take all of my money out of the bank and keep it for myself, and give it to whoever I want, whenever I want, without having anyone's permission to do so, or reporting that I have done so to anyone. W…
It's quite simple really. Because the vast majority of people that want to do those things, are wanting to get away with doing bad things and/or not paying their way correctly in society. You may be a rare outlier but there has to be precautions.
And someone decided once to put an explosive in their shoe, and now we all have to take our shoes off at the airport. At this rate, our future is looking extremely restricted.
Re: EU-wide maximum limit of €10K for cash payments
#315This will affect maybe 0.001% of the population. No one drops a stack of 10K euro when they buy something, it just doesn't happen.
Actually the 0.0001% will have absolutely no problem. They usually don't even own much to their own name.
This is among the measures intended for the 99%
Re: EU-wide maximum limit of €10K for cash payments
#316Earlier quoted context omitted.
Let's be honest for a second. There are very few instances where a person would ever 'need' to pay for something over €10k in physical cash?
Horrible take. 10k is a pittance. Small business owners, farmers, people buying and selling vehicles, etc. It’s not a large amount of money. If you go down to the apple store and buy a couple well specced computers the bill is going to be over 10k.
Large denomination Cash handling for legitimate businesses has been a hassle for a long time already. I’m not sure how many businesses want to handle large cash amounts.
You can’t even buy a car in cash here any more.
Re: EU-wide maximum limit of €10K for cash payments
#317I know someone in England who paid for their houses construction by going to an ATM and maxing out the cash withdrawal per card, putting the cash in a bin bag, and giving it to the builders on a daily basis. I don't believe it'd be realistically possible to stop this from occurring.
Your friend is lying to you. If you do this enough times, the bank automatically flags the account for money laundering. It's very basic and standard money laundering procedures. "I don't believe it'd be realistically possible to stop this from occurring." - It already happens and is already stopped so you're wrong on that one.
I know for a fact this happened and it was 2006/7 so nothing happened
Re: EU-wide maximum limit of €10K for cash payments
#318Can someone explain to me how this 10K EUR limit can be enforced? What will stop the launderer from selling an item/service valued at 1K to a thousand anonymous customers who paid with cash? Surely they're not going to demand KYC for every tiny cash transaction? If they aren't, I can't see a limit to the number of fake customers you can come up with. Or is this just meant for cases where the business is already under…
It prevents people with lots of dirty money from paying expensive-but-unregistered-goods (i.e. not cars and houses) with cash from law abiding citizen; if they want the expensive stuff, they'll have to either find some other dishonest businessman to sell it to them (might be hard, depending on what you're buying, and increases the risk of being caught) or deposit the money in a bank to pay for it electronically (which will raise flags since you are not officially earning that money)
Re: EU-wide maximum limit of €10K for cash payments
#319Earlier quoted context omitted.
> Bizarre how the EU is penalizing everyone in order to 'make it harder for criminals to launder dirty money'. It doesn't affect anyone. No one in Europe uses cash for anything more expensive than maybe 200 euros. Of course in some countries like Sweden and the Netherlands no one uses cash any more at all, and almost all ATM machines have been removed. I believe cash-only places are now outlawed. The reason for this…
> and the Netherlands no one uses cash any more In my one visit to the Netherlands I had to use cash because small places wouldn't take Visa/MC because it was too expensive for them. They had no problem accepting cash tho. Which Netherlands have you been to?
Visa/MC is not so widely accepted in smaller shops/stores. However, if you have a maestro debit card you basically have no need to carry cash. I live in Holland and never carry cash, even when going to food markets or when going out for far cycling trips to village areas. Only reason I carry cash (and I specifically have to go to the ATM for this) is when I go to my barber, of which it is obvious, they only accept cash so they can pay some of their employees under the table (something I don't really care about tbh).