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Cash limits in EU
- Thread starter andres33
- Start date
Malta changed limit to 10,000 euros. Also I guess technically the UK has no cash limit but any business accepting cash transactions greater then £10,000 needs to register with HMRC as a high value dealer 
. The list goes on for other EU countries.
I think the EU restrictions on cash has nothing to do with crime. I think this guy explains the real reason best. We really are in the end game now with the levels of debt out there.
. The list goes on for other EU countries.I think the EU restrictions on cash has nothing to do with crime. I think this guy explains the real reason best. We really are in the end game now with the levels of debt out there.
I didn't watch your video yet but in my opinion there are 2 main reasons:Malta changed limit to 10,000 euros. Also I guess technically the UK has no cash limit but any business accepting cash transactions greater then £10,000 needs to register with HMRC as a high value dealer
I think the EU restrictions on cash has nothing to do with crime. I think this guy explains the real reason best. We really are in the end game now with the levels of debt out there.
- Goverments in the EU need more money cause the welfare is really really expensive (there was a study saying EU has 7% of the world population and has 50% of the world's welfare). This cannot go on forever cause the population is becoming every year older and they enjoyed great benefits in the past we'll never be able to afford in the future (but it's hard to accept, watch what's going on with the pension reform in France, so they just try to buy time!);
- Next step, after pushing people hard on a cashless society, there will be the tokenization of the currency and they'll be applying the negative interest directly on all the deposits; it's clear the monetary policy cannot do much more and we'll deal one day with the side effects of it (one for all: no yield for pension funds!) but the bank deposits are growing pretty everywhere and people just prefer to consume less and corporate to invest less, so they do need to try something out of the box.
The world simply cannot afford a recession nor an interest hike - it would be a disaster for both governments and (zombie) corporations - so it will be interesting to deal with this.
wow...is that a joke or is that for real?
They have gone mad in Greece. That means the Government will therefore monitor how and when you are spending your money to enforce this right? That is very scary totalitarian system. If this is how they plan on paying down their national debt then this is just another experimental model for other EU states to follow.
The end game is closer than I thought....GET OUT while you can. They will soon take everything you have if you try and leave or worse still tax you after you leave
.
About EURO tokenization, there is actually a paper I just found out: https://www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp2351~c8c18bbd60.en.pdf
Some of the benefits mentioned:
- overcome ZLB and go to negative rates
- helicopter money
- larger seignorage income to the state
lol
I remember when I went to europa-park in Germany. I used card to book online my accommodation for the weekend. First thing when I got to hotel they said they wanted to cancel booking and that I must pay cash and I will get a discount. He told me this was normal and he did it for 2 families in front of me in queue.
The Napoleon's soldiers was very well payed. A very very good salary. But the (obligated) condition was that they must to spend at least the half part of this salary. Evidently to make runing the economy of the empire. Bad or good idea, it was part of the activation of the economy in war time.
Greece don't invent nothing new
there is nothing wrong about joining the army voluntarily (not sure and saying it was the case you mentioned) and accepting the condition regarding spending
however being a Greek citizen is not a matter of choice and hardly comparable - if true it's an act of pure violence
Floating ideas about forced spending surely sounds desperate, but I doubt it will go through. There are simply too many practical obstacles to setting up a system like this, in a country like Greece.
It could even have the opposite effect: Some employers would start paying their employees a lower official salary, and the rest in cash. It is easy for restaurants, services & tourism industry, and already happens in many countries in Europe. The government would receive less even tax money, and people would have a lower electronic spending limit.
There are high earners who do not spend even 10% of their income, let alone 30%. They would find workarounds, such as buying bogus online services from abroad, etc., or just leave the country altogether.
It could even have the opposite effect: Some employers would start paying their employees a lower official salary, and the rest in cash. It is easy for restaurants, services & tourism industry, and already happens in many countries in Europe. The government would receive less even tax money, and people would have a lower electronic spending limit.
There are high earners who do not spend even 10% of their income, let alone 30%. They would find workarounds, such as buying bogus online services from abroad, etc., or just leave the country altogether.
I agree this would just breed resentment for government. They will soon have to work out they need to ban cash entirely to enforce it in reality. Then its game over and no escape from the system for Greeks.
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