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Thread: France moves to further limit cash transactions

  1. #1

    Default France moves to further limit cash transactions

    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/
    Last edited by devil21; 02-15-2013 at 04:17 PM.
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  3. #2
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    Spain already has those limits.

  4. #3

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    No, in France these controls are entirely about taxes (EVASION).

    Cash deals make tax tracking hard.
    "Like an army falling, one by one by one" - Linkin Park

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    Quote Originally Posted by Seraphim View Post
    No, in France these controls are entirely about taxes (EVASION).

    Cash deals make tax tracking hard.
    Yeah, that's what's it's all about.

  6. #5

    Default FRANCE to Cap Cash Transactions at €1,000



    http://www.testosteronepit.com/home/...to-france.html
    Draconian Cash Controls Are Coming To France Tuesday, February 12, 2013 at 7:07PM

    []

    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.


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    I thought they did this last year?

  8. #7

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    All I have to say about this is this:


    Last edited by hazek; 02-16-2013 at 01:10 PM.
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  9. #8

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    Quote Originally Posted by oyarde View Post
    I thought they did this last year?
    No that was Italy: http://www.businessweek.com/magazine...-12082011.html

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    Quote Originally Posted by swissaustrian View Post
    Got ya, thanks , hard to keep up with all this crap.

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    Quote Originally Posted by Confederate View Post
    Spain already has those limits.
    Unemployment should be 30 % by the end of March in Spain, nobody has any money

  12. #11

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    Sounds like a good place to pay cash for a house or a car.

  13. #12

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    Quote Originally Posted by hazek View Post
    All I have to say about this is this:


    "Power goes out, bitcoin user broke and unable to feed himself"

  14. #13

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    Quote Originally Posted by VBRonPaulFan View Post
    "Power goes out, bitcoin user broke and unable to feed himself"
    Or he can just use his smart phone.
    My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right, tend to be unwilling or unable to accept blame )

  15. #14

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    Oh yeah, I forgot that those don't need a power source.

  16. #15

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    bump for 1.5 month old thread.

    timing is interesting considering Cyprus developments and contagion concerns and bank runs.
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  17. #16

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    http://www.telegraph.co.uk/finance/f...s-deepens.html

    Primary contagion #1 is Slovenia...SO FAR.


    Quote Originally Posted by devil21 View Post
    bump for 1.5 month old thread.

    timing is interesting considering Cyprus developments and contagion concerns and bank runs.
    "Like an army falling, one by one by one" - Linkin Park

  18. #17

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    Something Ron Paul said about capital controls come to mind. That man was ahead of his times.






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