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Greeks Told To Declare Cash "Under The Mattress", Jewelry And Precious Stones

Tyler Durden's picture


When earlier today we read a report in the Greek Enikonomia, according to which Greek taxpayers would be forced to declare all cash "under the mattress" (including inside) or boxes that contain more than 15,000 euros as well as jewelry and precious stones (including gold) worth over 30,000 euros, starting in 2016, we assumed this has to be some early April fools joke or a mistake.

After all, this would be merely the first step toward full-blown asset confiscation, conducted so many times by insolvent governments throughout history, once the government cracks down on those who made a "mistake" in their asset declaration form or simply refuse to fill such a declaration, thereby making all their assets eligible for government confiscation.

It was not a joke.

Here is the take of Keep Talking Greece, whose stunned response mirrors ours.

Cash "under the mattress" totaling more than 15,000 euro, jewelry and other valuable items such as diamonds and gemstones, should be declared to electronic system of tax authorities, Taxisnet, as of 1 January 2016. Next to properties and vehicles and shares, now the taxpayers will also have to declare their deposits. And not only that. They will have to fill if they rent bank lockers and if yes, also the name of the bank and the branch, even if abroad.

A joint ministerial decision issued by the Ministries of Justice and Finance indicates that taxpayers in Greece should add all their valuables into a new category of the tax declaration, the “Assets declaration.”

Specifically, the decision provides that:

    “Assets declarations” are submitted electronically and mandatory via Taxisnet.
      Starting date for the submission is 1.1.2016

Declared must be cash money if more than 15,000 euro and precious items if their total value exceeds 30,000 euro. These amounts apply cumulatively per household (husband, wife, underage children).

To facilitate the completion of the declaration, data from the income statements (E1 and E9) will be drawn automatically.

Note that this Assets declaration process will initially apply to lawmakers, journalists, public servants etc and is the rehearsal for the creation of the electronic property & assets register that will be extended to all taxpayers.

The new assets declaration form has a total of 56 pages.

The decision has been taken “in the context of support and development of the economy,” the ministers state.

Some thoughts

First of all, the ministerial decision will certainly support and help to growth the noble profession of accountants.

How can a bride know the value of the jewelry her parents-in-law gave as a wedding gift?

If the retail price of X valuable item was 10,000 euro in 2005, what is the value today?

And what will happen if one will not declare his assets? The tax authorities will raid the home and search under the mattress to find grandma’s ring?

Are you kidding me, Greek Syriza state?

PS we should note that this assets declaration was in plan before SYRIZA came into power. Not sure about what minister promoted this, I vaguely reckon it was form New Democracy. Or most likely it was a Troika’s idea in order to grab the so-called ‘black money’ that starts with 15,001 euro in cash and diamonds worth 30,001 euro.

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Tue, 12/01/2015 - 15:30 | 6861910 hedgeless_horseman
hedgeless_horseman's picture



Tue, 12/01/2015 - 15:33 | 6861921 Occident Mortal
Occident Mortal's picture

At least they still have the euro.

Tue, 12/01/2015 - 15:47 | 6862016 SILVERGEDDON

My tragic boating accident took all my wealth down to the bottom.

The tooth fairy leaves me a couple Eagles and Liberties on the pillow from time to time.

i been using the same tooth for 47 years. Tied a fish line to it so's i always reel it back in to go fishing for more dollars now and then.

Tue, 12/01/2015 - 15:50 | 6862028 VinceFostersGhost
VinceFostersGhost's picture



My tragic boating accident


A moment of silence please...


OK......that's enough.

Tue, 12/01/2015 - 16:00 | 6862048 hedgeless_horseman
hedgeless_horseman's picture



Your records show I purchased what and when?

See, here, officer.  This is a copy of the newspaper advertisement for the yardsale I had where I sold those guns, jewels, and coins for cash that I spent on taxes and health insurance premiums.  You know how it is?  Here is the tax receipt.

Sorry, sir.  Nice armored car!  Stay safe during all these confiscations. 

Have a nice day! 

Tue, 12/01/2015 - 16:02 | 6862091 pods
pods's picture

I have to now pay tax on my precious stones?

That is kind of sexist.


Tue, 12/01/2015 - 16:04 | 6862108 Soul Glow
Soul Glow's picture

Am I sexist for saying Merkle is a bitch?

Tue, 12/01/2015 - 16:08 | 6862133 Anonymous User
Anonymous User's picture

Having the EURO is their biggest problem. They missed the grexit train and going back to drachma, devalorizing it and skip on paying the banks back.

Now they're fucked. Greek STYLE. And no oil around to use as lube. Just scratchy sand, rocks and some dirty migrants if that helps in any way.


Tue, 12/01/2015 - 16:16 | 6862175 Save_America1st
Save_America1st's picture

The Tiny Dot...pass it on to the Greeks...maybe they will wake up and hopefully so will America and the rest of this fucked up world.




Tue, 12/01/2015 - 16:37 | 6862296 krispkritter
krispkritter's picture

So they're asking for a voluntary bail-in of Sealy Savings Banks?  Call me shocked!

Tue, 12/01/2015 - 16:47 | 6862342 mtl4
mtl4's picture

Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety.


This is just like the gun registries, anyone dumb enough to get in the database obviously has no idea of it's real purpose.

Tue, 12/01/2015 - 16:53 | 6862391 Mr.BlingBling
Mr.BlingBling's picture

Interesting how they never tell the truth about the so-called gun show loophole.  (The truth being that the only way to 'fix' it is registration of all weapons.

Tue, 12/01/2015 - 17:11 | 6862491 MagicHandPuppet
MagicHandPuppet's picture

If those greek folks don't rise up and throw the bums who support this treason in the pokey, they deserve what they are about to get.

Tue, 12/01/2015 - 18:00 | 6862753 JRobby
JRobby's picture

I love forms with a lot of places to write in zeros!

I am sure the compliance participation % of the Greek Citizenry will be worse than the tax collections %.

Tue, 12/01/2015 - 19:07 | 6863014 847328_3527
847328_3527's picture

Whne the Greek politicans hand over their Secret Swiss bank accounts, then the Greek people will hand over their mattresses.

Tue, 12/01/2015 - 19:18 | 6863062 coinhead
coinhead's picture

Nice to know sneaky Greeks can hide their money in Bitcoin and crypto-currency!  Crypto is teh tax-haven of teh 21st century!

Tue, 12/01/2015 - 19:46 | 6863187 pelican
pelican's picture

This is the same land of the of Spartins?  Hell, even Mericans would be buring shit down about now.

Tue, 12/01/2015 - 20:17 | 6863324 espirit
espirit's picture

Texas, Northern Arizona, Idaho, Montana, North Dakota.

All are looking mighty free right now.

Tue, 12/01/2015 - 20:50 | 6863480 Stuck on Zero
Stuck on Zero's picture

Do I have to register my 125m megayacht? Or the 12,000 sqm villa on Santorini?

Tue, 12/01/2015 - 22:47 | 6863897 Billy the Poet
Billy the Poet's picture

As Clemenza would say. "It's time to go to the mattresses."

Wed, 12/02/2015 - 02:55 | 6864529 Stainless Steel Rat
Stainless Steel Rat's picture

Our printing press says you owe trillions in capital gains for not having your savings devalued with the rest of everything... now be a good citizen and bend over for 'the investors'!

Wed, 12/02/2015 - 09:45 | 6865109 pmbug
pmbug's picture

Haha.. Greeks are such amatuers at this.  US authorities have laid the groundwork for confiscations without need for real justification.  They have the legal power to confiscate just about anything they want and then enjoy some margaritas.

Tue, 12/01/2015 - 22:57 | 6863928 August
August's picture

Do you realize that most of your posts here tend to discredit bitcoin users/investors?

Just askin'.

Tue, 12/01/2015 - 23:39 | 6864099 Lore
Lore's picture

Any bets that he lives with his parents?

Wed, 12/02/2015 - 09:47 | 6865115 kralizec
kralizec's picture

Did he trash the family Thanksgiving Day dinner table?

Wed, 12/02/2015 - 00:53 | 6864327 Antifaschistische
Antifaschistische's picture

I don't think this is a confiscation set-up...but I've been wrong a lot in my life, and I often overestimate the human spirit.

But this may be the Eurocrats who want an idea of how big the barter economy could be if they can determine how much portable, non-trackable, easily transferable wealth is sitting out there.  If the greek people on their own just decided to start using silver, or copper or 1/10th of an oz gold pieces for currency then the EUro would be screwed.

but...the Greeks are a people who I overestimated numerous times over the past 5 years.

Wed, 12/16/2015 - 19:56 | 6932755 Nomatrix
Nomatrix's picture

And soon they were without gold, precious stones and broke.

Tue, 12/01/2015 - 16:54 | 6862395 FreeMoney
FreeMoney's picture

In debt?

Step 1.  Identify all the low hanging fruit.

Tue, 12/01/2015 - 23:14 | 6864002 Stuck on Zero
Stuck on Zero's picture

Wait a minute. Governments tell us that gold is a 'barbarous relic' and worthless. Why would they want us to report it?

Tue, 12/01/2015 - 17:09 | 6862484 MalteseFalcon
MalteseFalcon's picture

So they confiscate all the money, precious stones and PMs.  Nothing gets reformed and all that is pissed away.

So now it's what?  Kidney confiscation?

Hang on to your guns.

Tue, 12/01/2015 - 16:37 | 6862300 DaveyJones
DaveyJones's picture

central bank + politician under thumb = country in the red

central bank + cash under mattress = monster under bed

Wed, 12/02/2015 - 08:27 | 6864859 Muddy1
Muddy1's picture

monster in bed, there fixed it, and she's happy

Tue, 12/01/2015 - 17:31 | 6862385 Urban Redneck
Urban Redneck's picture

The euro isn't the Greeks biggest problem.  The Greeks biggest problem is the representatives (fascist oligarchs) that the Greek citizens themselves vote to lead Plato's dream Athenian Republic.  When G Pap & Samaras presented too elite a face for the march of tyranny, they brought in Hopey Changey Tsipras to deliver.  

Only a thoroughly indoctrinated bunch of loons (or teabaggers) would believe that the tyranny of the 1% is more just than the tyranny of the 51%.  

There are only two options accept their slavery or overthrow their oppressors.  

Tue, 12/01/2015 - 23:37 | 6864083 Lore
Lore's picture

Here's a concept for consideration: SELF-RULE.

Wed, 12/02/2015 - 07:11 | 6864748 Ghordius
Ghordius's picture

show the way, show how it's possible. fact is that most who expose this view here... are at the very center of immense state power, like in the (relatively calm) eye of a hurricane

Wed, 12/02/2015 - 07:09 | 6864690 Ghordius
Ghordius's picture

+1 for "The euro isn't the Greeks biggest problem"

fact is that the EUR is not in the Greek's state or central bank power to devalue. this puts the EUR at the same level as gold, jewelry and precious stones... as this very article highlights

fact is that devaluation is form of partial default... at the cost of those who hold cash and creditors

fact is that if I lend to someone, and this someone partially defaults on his debts... well, I'm going to ask higher rates, next time, or refuse to lend at all

fact is that up to now all criticism of the EUR is based on a Keynesian view of how to centrally manage a national economy

so don't ask for a return of gold if you think that the EUR is the one and only problem of Greece, then for all purposes, the EUR is behaving in the same way as gold, for Greece

meanwhile, many Greeks are keeping their euros under the mattress, together with their gold, jewelry and precious stones... and the Greek state is trying to get some hold on them

tyranny is what behaves like tyranny

Tue, 12/01/2015 - 19:20 | 6863077 walküre
walküre's picture

+ 900,000 "official" and "refugees" from Deutschland

truth is this year alone came more or less 2,000,000 INVADERS


Tue, 12/01/2015 - 20:47 | 6863468 twh99
twh99's picture

Don't worry in 2-3 years the shit show will start all over again.  They haven't really fixed their economy so they are still spending more than they take in on pensions and useless government workers.

However by then Merkel will have benn replaced by someone else who will not be inclined to bailout the Greeks for a fourth time.

Tue, 12/01/2015 - 23:56 | 6864156 Theosebes Goodfellow
Theosebes Goodfellow's picture

~"The decision has been taken “in the context of support and development of the STATE'S economy,” the ministers state."~

"...and to the detriment of yours."

Sure sounds like all your base are belong to us.

Tue, 12/01/2015 - 17:16 | 6862536 BarkingCat
BarkingCat's picture

No, only blind for confusing it with a female.

Tue, 12/01/2015 - 18:50 | 6862940 bluskyes
bluskyes's picture

Your low opinion of dogs is noted. Expect a suit from your local SPCA.

Tue, 12/01/2015 - 19:17 | 6863057 glenlloyd
glenlloyd's picture

"Am I sexist for saying Merkle is a bitch?"

First I think you're going to have to prove Merkel is female...

Tue, 12/01/2015 - 22:51 | 6863915 KesselRunin12Parsecs
KesselRunin12Parsecs's picture

"Am I sexist for saying Merkle is a bitch?"


You're sexist for being a white male (which would also probably make you a racist, homophobic, & anti-semite)


So basically, unless you're Wanda Sykes, you'd better keep a lid on it.

Tue, 12/01/2015 - 16:04 | 6862111 hedgeless_horseman
hedgeless_horseman's picture



I have to now pay tax on my precious stones?

Not on purchases of gold coins over $1000.

The tax receipt could be for property taxes, paid in cash, to show use of proceeds.

Tue, 12/01/2015 - 23:44 | 6864114 AllMightyDollar
AllMightyDollar's picture

No California sales tax on gold and silver over $1500 - You pay the sales tax on $1499.99

Tue, 12/01/2015 - 16:08 | 6862129 Anonymous User
Anonymous User's picture

Don't wanna be a greek this time of year.

Tue, 12/01/2015 - 18:43 | 6862913 Bangin7GramRocks
Bangin7GramRocks's picture

You'll get this thick gold rope chain when you pry it from my cold, dead chest sweater!

Tue, 12/01/2015 - 19:20 | 6863074 messymerry
messymerry's picture


I have to now pay tax on my precious stones?

In your case, it would be a small tax, a very... small tax,,,


Tue, 12/01/2015 - 16:02 | 6862095 MANvsMACHINE
MANvsMACHINE's picture

What about credit card bills?  Do they want those too?

Tue, 12/01/2015 - 16:10 | 6862150 Ignatius
Ignatius's picture

Yes, they can be rehypothicated endlessly to 'back' a new currency.

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