Posted on 01/02/2022 5:21:37 PM PST by jcon40
I have warned that Europe is the epic center for the decline and fall of Western Culture and economic strength. While the US has not yet joined Europe, the Democrats are licking their lips and trying desperately to figure out how to kill cash forcing everything to be digital in search of cash. In Europe, 18 EU countries are now restricting the use of cash and they are desperately trying to terminate cash all for control and taxes. Now it is just presumed that paying in cash means you are engaged in money laundering for that definition has been expanded to just tax avoidance.
Once upon a time, Belgium had an upper limit of €15,000 for transactions in cash. In 2012, they lowered that to €5,000, and then in 2014, they brought it down to €3,000. Bulgaria has outlawed cash payments of around €5,100 euros (10,000 Bulgarian levs) since 2016. A proposed law that has been pending since 2017 will lower that to just €500. The central bank informed the politicians it would not comply with such a low limit. The politicians even went as far as the use of the 500 euro note would have been a punishable criminal offense.
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Maybe we should move to a currency that the government cannot control. Think I read something about this somewhere. ;)
It would be nice if we could go on the Gold Standard.
If only some messiah-like politician could arise and solve the world’s 🌍🌎 economic problems.
The Devil is in the details...
In China, there are entire shopping markets that refuse cash. The only way to pay is through electronic means.
(In Europe, 18 EU countries are now restricting the use of cash and they are desperately trying to terminate cash all for control and taxes)
Will that be right hand?
Or forehead?
(Note: it will NOT happen until the middle of the 7-years - that part for any Tribulation Saints)
Exactly
What if the net goes down? What if there is a natural disaster that takes out infrastructure in an area? Cash/precious metals can always be traded even without electronic devices.
They won’t care.
The unwashed can starve for all they care.
We are all expendable in their eyes.
Soon these loons will tel us that COVID is spread by handling cash.
Answer:
The Mark
“It would be nice if we could go on the Gold Standard.”
This is one of those yes and no things. If we were on the gold standard, what’s called the speed of money would be infinitely lower. I get paid a dollar. I pay it in rent, the landlord buys another house, the seller of the house buys a car, the car manufacturer pays his workers...etc. and so on. The faster the speed of money, the better everyone lives. The more dollars in circulation, the faster the money moves. The central banks have targetted about two percent inflation to keep the economies growing. The new money increases the amount of credit, so people can buy cars and houses. If there were only x amount of dollars there would be darned little credit as those dollars would move slowly. Now this great for savers. The money you saved twenty years ago would buy the same goods and services now as it did then. But you’d likely not have been able to save much as everything would be more expensive.
It’s a very complicated mess. The problem is that politicians have set the interest rates at zero so they can all have their cakes and eat them too. That means the money we saved before Obama doubled the supply and then doubled it again and then added 87 billion per month of quantitative easing...Then, covid came along and we’ve again increased the supply by 2/3rds. Total incompetence. It’s better to accept the downturn and then move on when the economy recovers. But nobody wants to be president when the economy is in the dumper.
All very confusing, I know I haven’t done a good job explaining. But, it would take a long long post.
“What if the net goes down? What if there is a natural disaster that takes out infrastructure in an area? Cash/precious metals can always be traded even without electronic devices.”
Oh please, enough with the doomsday/prepper talk. We all know that outages are only for a few days, at most. Spare us the ‘what if’s’.
Interesting story, though. My Puerto Rican friend’s mother was still living in her town in the old country (PR). She never trusted banks, even with FDIC insurance, so kept everything as cash. Then 2 hurricanes hit. Power was out at least 6 months, maybe longer (don’t remember). Guess what - it was an all-cash society there for those 6 months. She became the bank and loaned money to tons of people there (she knew them all, having lived her life there). All worked out fine for her and the locals there really, really, appreciated it. Not sure if I’d recommend going that far, but having a few months (minimum) of cash available only makes sense.
“ have warned that Europe is the epic center for the decline and fall of Western Culture and economic strength. While the US has not yet joined Europe, the Democrats are licking their lips and trying desperately to figure out how to kill cash forcing everything to be digital in search of cash. In Europe, 18 EU countries are now restricting the use of cash and they are desperately trying to terminate cash all for control and taxes. Now it is just presumed that paying in cash means you are engaged in money laundering for that definition has been expanded to just tax avoidance.
Once upon a time, Belgium had an upper limit of €15,000 for transactions in cash. In 2012, they lowered that to €5,000, and then in 2014, they brought it down to €3,000. Bulgaria has outlawed cash payments of around €5,100 euros (10,000 Bulgarian levs) since 2016. A proposed law that has been pending since 2017 will lower that to just €500. The central bank informed the politicians it would not comply with such a low limit. The politicians even went as far as the use of the 500 euro note would have been a punishable criminal offense.
Over in Denmark since July 1, 2021, any payment of up to about 2,700 euros (20,000 Danish kroner [DKK]) is allowed whereas the previous limit was DKK 50,000 since 2013. Prior to that, the limit was from 2006 was DKK 100,000 and once more they claim this is all about combatting money laundering and the financing of terrorism.
France, the origin of communist theory, has been trying to outlaw cash for years. Today, a cash payment limitation stands at €1,000 since 2015. That was lowered from a limitation of €3,000 which was implemented in 2010. In Greece, as of the end of 2016, the upper limit on cash was just €500. Here we have a government that was as corrupt as it could be and screwed the nation by entering a conspiracy with Goldman Sachs to manipulate their debt to enter the Eurozone. Hence, the government wanted to lower the limit to €300 which would have seriously disrupted tourism and even the ECB objected. The government has imposed laws whereby Greek taxpayers must prove that they spend at least 30% of their taxable income in electronic form. If you failed to prove that 30% of your income is spent by debit/credit card, you will have to pay a penalty tax of 22% on the difference.
In Italy, the government imposed a limit on cash transactions of €2000. However, as of January 1, 2022, the government has lowered that to €1,000 proving that money laundering is no longer drugs, but not paying taxes. Throughout Europe, these trends reveal that the pretend politicians who are supposed to “represent” the people, regard the people as criminals. They have used terrorism as the justification to go after every person in the country. This is why governments have been pushing for 5G to ensure the extinction of cash and to make all payment systems instantaneous.
In the Netherlands, the government moved to introduce a cash limit of €3,000 also claiming that this was intended to be “measures to combat money laundering and terrorist financing more effectively”. Spain introduced a law in 2012 on the prevention of tax fraud in Article 7 which forbids making cash purchases of €2,500 or more. That was lowered to €1,000 as of November 2021.
In Germany, there is no limit on cash payments for the purchase of goods. However, consumers who want to pay amounts that are greater than 10,000 Euro in cash, have to show their ID card and the merchant/vendor must document their name, place of birth, date of birth, and home address as well as their nationality.
Using terrorism, all European governments are hunting cash and PRESUME people who pay in cash are engaged in money laundering they now define as simply not paying taxes. I have been warning that part of the strength behind the dollar is the fact that (1) it has never been canceled, but (2) it is the cash reserve of the world with 70% of paper dollars circulating outside the United States as the hedge against their own governments.
I pay cash for most things. I suggest everyone continues to use cash and forego the cash back from credit cards.
You would do well to read Martin Armstrong daily, he has been a legendary forecaster.
“What if the net goes down? What if there is a natural disaster that takes out infrastructure in an area?”
“In a moment the twinkling of an eye”
Then the Mark.
pay cash for most things. I suggest everyone continues to use cash and forego the cash back from credit cards.
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Cash is currently trying to be abolished by our government. Read SB 3571, Fedcoin, backed by the demoncrats and Yellen and the Federal Reserve. The bill has quietly been advanced to the Finance closed door subcommittee.
Our city had this exact problem when a derecho (strong straight-line winds of 120 mph+) smashed up everything. The few places with food were taking cash. Your card would not work, so I have lived in the situation I described. It took more than 10 days to get everything back up.
By the way there was no escape, you could not drive. Trees and live power lines were covering the streets.
You must own a bunch of gold. Because if you don’t…you don’t want to be on the gold standard.
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