Capital controls in a bad economy or to slowly remove cash from circulation? Article implies it is to move toward cashless society.
http://www.forbes.com/sites/jonmaton...ts-over-e1000/
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Capital controls in a bad economy or to slowly remove cash from circulation? Article implies it is to move toward cashless society.
http://www.forbes.com/sites/jonmaton...ts-over-e1000/
Spain already has those limits.
No, in France these controls are entirely about taxes (EVASION).
Cash deals make tax tracking hard.
http://www.spiralteppich.de/wp-conte...8/1000euro.jpg
http://www.testosteronepit.com/home/...to-france.htmlQuote:
Draconian Cash Controls Are Coming To France Tuesday, February 12, 2013 at 7:07PM
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So Ayrault trotted out his national plan, a 20-page document that outlined his all-out effort to go after any kind of behavior that could possibly deprive the government of those sorely needed euros. A seamless fit for France’s principle: squeeze hapless “fiscal residents” like lemons to get their last drop of juice—fiscal residents, because citizens or foreigners who live in France only part of the year and pay taxes in some other country escape income taxes in France.
Stuffed into that 20-page national plan is a draconian tool:
prohibiting
cash payments of over €1,000 per purchase.
The current threshold is €3,000.
It’s urgent. He wants to get the process started soon so that “a decree and legislative measures” can be finished by the end of 2013.
Two crisp 500-euro bills and a single coin: voilà, an illegal transaction.
OK, most cash transactions fall below that limit. But used cars, for example, might not. Between individuals, a cash transaction protects the seller. Otherwise, a trustworthy girl buys your car, signs the documents, hands you a check or initiates an electronic payment, and drives off. By the time you realize that the check bounced or that the electronic transfer didn’t go through, the car is on its way to Russia.
You want title to my rig? Stack the Benjamins.
I thought they did this last year?
All I have to say about this is this:
http://i.qkme.me/3t0rpu.jpg
No that was Italy: http://www.businessweek.com/magazine...-12082011.html
Sounds like a good place to pay cash for a house or a car.
Oh yeah, I forgot that those don't need a power source.
bump for 1.5 month old thread.
timing is interesting considering Cyprus developments and contagion concerns and bank runs.
http://www.telegraph.co.uk/finance/f...s-deepens.html
Primary contagion #1 is Slovenia...SO FAR.
Something Ron Paul said about capital controls come to mind. That man was ahead of his times.