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France Moves in the Direction of Banning Cash
..........Written by Nathan McDonald (click for original)
Long has the government waged war on the privacy and freedom of its citizens. Government has an insatiable appetite for more power and control. This is ultimately how it expands itself and exerts its dominance and ability to tax / steal the wealth of its people.
Increasingly, governments are becoming more interested in the ability of its citizens to spend uninhibited amounts of money in the form of cash. Cash, although fiat, at least grants the ability of some privacy to its user and is typically readily converted into most other forms of fiat money.
Gold, which also holds these positive characteristics of cash, has already suffered under a long-term campaign by western governments, in which they have sought to discredit and label it as a relic.
Despite their best efforts, gold has persevered and will continue to do so in the future, as it cannot be readily printed into infinity by any one government who wishes to see its destruction.
Unfortunately, fiat money does not possess these qualities that gold possesses. Fiat can and has been in the past, printed into infinity. Inflation has ruined peoples lives and evaporated the savings of its holder, time and time again.
At least compared to the new emerging form of “electronic money” (i.e. debit cards, credit cards, online banking, etc.), cash at least still holds onto that one positive quality, which is the privacy it can offer its user.
Although, that may be set to change. Western governments around the world have turned their eyes in the direction of cash and are pushing forward with laws and regulations to restrict its use.
One country that is leading the charge against its people is France, who hide behind the illusion that the changes they are moving towards are simply an effort to combat terrorism. Again, “the war on terrorism” has become the common scapegoat that western governments have used whenever they are taking away privacy or ramping up control over its people.
Come September, France will begin more closely monitoring its citizens’ transactions and withdrawals of money. People will not be able to make cash payments of more than 1,000 euros in one transaction, this is down from the already low 3,000 euro limit.
Additionally, any withdrawal of more than 10,000 euros in one month will automatically trigger an investigation by the Tracfin anti-fraud and money laundering agency.
Furthermore, the ability to use cash will be further limited by the fact that in order to convert more than 1,000 euros into another currency, you will need to show a valid ID card. This threshold has plummeted from the previous 8,000 euro limit.
Prepaid cards, that have become increasingly popular over the years, will also be under scrutiny, as the French government clamps down on its efforts to “combat terrorism”.
Of course, this is all hogwash. Unfortunately, despite the French government’s best efforts, if a terrorist wants to gain access to funds, then they are going to do so. These laws and restrictions are going to do nothing to stop them. Rather, they are going to hinder even more of its peoples freedom to access and use their own money.
This is the true point of these changes. Western governments around the world have already taken similar actions, although not yet as severe as France. But don’t rejoice yet, more will be following suit.
Western officials know that the global economy is teetering on a cliffs edge. All efforts will be taken to keep their “cash cows” in place and to keep the current system flowing.
If citizens are able to convert their funds into precious metals, or another foreign currency, then governments cannot easily seize their funds in a time of crisis, similar to the bail-ins seen during the crisis in Cyprus.
For those that still have the ability to move your funds, purchase precious metals and diversify your risk and have not yet done so, ask yourself…what am I waiting for?
..........Written by Nathan McDonald (click for original)
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Real ID and electronic money only.
Only prophesied about 2000 years ago.
Spurious, it went from 20 to 35 per ounce. I think most that hold it will lose it in boating accidents until the next time it resets. May not be worth crap to me but my kids or grandkids will find themselves with a bit of money.
The mud-hutting Israeli’s started all the ‘Cashless’ stuff. Why Europeans cling to a Mud-God is beyond me.
It’s worse than the Africans from back in the day taking the religion of their masters.
Coming soon to a country near you.
Along with a 50% Capital gain tax on "collectibles" (i.e. gold).
So a person has a stash of Maple Leafs/Buffaloes/Krugerrands....
Gold goes to $4k @ ounce.
Illegal to sell for cash and if you sell by authorized means it's a 50% tax, a seizure by another name.
Sort'a the same as what happened in 1933 with executive order 6102. (In case you don't know gold ownership was declared illegal, gold was seized, cash paid $35/ounce, and then the offical value of gold was declared at $50/ounce.
So tell me please, all you goldbugs, how holding gold will pan out in the debacle to come (or already happening in France)?
Go long 1 gram ingots I guess.
Very simple.
I hold gold off shore and transact through a private company as gold can be turned into any fiat crap on earth and sent to me in a myriad of ways.
All backed by false invoices of course.
There are societal breaking points and there are personal. Coming to confiscate would be one for many.
Coming soon to a country near you.
Along with a 50% Capital gain tax on "collectibles" (i.e. gold).
So a person has a stash of Maple Leafs/Buffaloes/Krugerrands....
Gold goes to $4k @ ounce.
Illegal to sell for cash and if you sell by authorized means it's a 50% tax, a seizure by another name.
Sort'a the same as what happened in 1933 with executive order 6102. (In case you don't know gold ownership was declared illegal, gold was seized, cash paid $35/ounce, and then the offical value of gold was declared at $50/ounce.
So tell me please, all you goldbugs, how holding gold will pan out in the debacle to come (or already happening in France)?
Go long 1 gram ingots I guess.
Black and grey markets would proliferate like weeds and when the dogs for the State try to bust these operations, the people will rise up. Sort of like the hob in the Hunger Games. Hopefully all the PhD clones in D.C. can figure this out...
;-D
So true!
You can't sell cyber-cash to Christians who have read Revelations.
Not gonna happen.
Easy. Private exchanges for real property.
eg: "For $1.00 and other valuable consideration. . . "
Do I keep all my money in the bank earning 0.1%, and one morning I'm told I can't withdraw it (happened in 1933), or I can withdraw it but it buys 10% of what it did the previous Friday (happened almost every year in South America somewhere)?
St[d]evious crickets chirping.
He only gloats that no one has any failsafe option.
all true, but as gov.org goes so does gold. the short list has to be stuffs that can be used with an input of labor. anything else is a concept that can be siezed by gov.org. and if they try to sieze your labor, then that is the "final stand" one must take. because life without liberty is a life I will not live...
The western societies go more and more in this direction. Keep the sheeple's fiat funds in the system so you can control them. Just another form of capital controls that might delay the day of reckoning (and make it that much worse once the sheeple realize they been lead to the altar for slaughter).
Yanis Varoufakis: “Greece Will Adopt the Bitcoin If Eurogroup Doesn’t Give Us a Deal”.
http://greece.greekreporter.com/2015/04/01/yanis-varoufakis-greece-will-...
Now this is a development.
If Greece wasn’t broke, it’d be funny to see Greece’s “National Treasure” stolen from a rogue exchange.
More Sprott Money selling their book (of fear).
What about or which Givememint actions should we not fear?