Cash ban: Italy, now Spain?

By | April 25, 2012
This is not the best article to link as it is heavily biased, but it is shocking that other countries are quickly following suite. It also leads to a rather interesting condundrum:

Cash banned for transactions over 1000 ('criminal'). Debit cards banned for transactions over 1000 ('security'). Unless you have a special exception. So… what is left to pay with? Maybe peanuts, unless the recipients has a peanut allergy.

Not Just Spain: Cash Ban Spreads Around the World
A. M. Freyed | Global elites are trying to eliminate cash.

3 thoughts on “Cash ban: Italy, now Spain?

  1. Sophie Wrobel

    Ha. A rather creative 'workaround' in an offline discussion on this topic: Companies could offer an 'Instant installation payment' option, where an item is paid in multiple installations simultaneously. Say, 3000 in three 'installations' of 1000, on the condition of immediate payment in cash.

    Reply
  2. Paula Schell

    "Subject to scrutiny, the state will become increasingly intrusive, leading in turn to increased resentment.
    The Internet is a factor in this as well, informing people of how others feel about unjust legislation and the moves they are taking to counteract the worst of it.
    All of this has a deleterious effect on society. At some point such governmental actions become significantly counterproductive.
    The global elites – those shadowy dynastic families behind much of this mischief – may wish to continue this process to consolidate the world government they apparently seek.
    They are obviously not averse to provoking violence as it provides an excuse for further crackdowns and overt social and economic control. Time will tell if they are correct or are misjudging."

    And precisely there, is where the OCCUPY movement has (already) appeared and will continue to gain momentum. Frightening that the possibility of a new, possibly bloody, second American revolution may be just a little down the path. Ugh. Greed. It's not money that's the root of all evil — it's greed. And the greedy couldn't care less -they'll be the only ones who come out unscathed – depending on just how bloody it gets….

    Reply
  3. Peter Strempel

    Yeah, Sophie. This is a concern. What is required is a legal challenge on fundamental grounds, like constitutional law or some other statute that establishes a national currency as legal tender.

    The argument would be something along the lines that it is either legal tender or it is not; it can't be both, and restrictions on non institutional exchanges of currency are in fact restrictions on individual liberty and free trade, as well as mandated manipulation of currency markets.

    Unfortunately such challenges would have to be launched separately in each jurisdiction where the restrictions apply.

    Reply

Leave a Reply

Your email address will not be published.