posted on Apr, 22 2012 @ 06:56 PM
Originally posted by NeverSleepingEyes
reply to post by SilentThundersGF
your title is very misleading, it's a shame.
you needed some attention?
With an accurate title, like "Spain Bans Cash Transactions Over 2,500 Euros in business transactions" no one would pay attention to your post for
Spain isn't banning cash, Spain is trying to avoid fraud in business. I'm in business for over 20 years now. Never did I pay such an amount of money
Ugh. Actually, $5000 (equivalent) in cash is not that much for some people. But if you are from a country that frowns on cash use, or you have been
conditioned that holding cash is bad, I can understand why you have that view.
My friends from the Middle East all are used to making large payments in cash, of course, they came from countries that are not completely dominated
by leveraged fractional banks (of course, that is changing with the current wars...)
When I was younger, my cousin and I both saved are money in cash under the bed. When it came time for him to buy his first car, he paid that way.
Around that time I bought mostly stuff that was ultimately less useful than a car, but my first car I did pay for in cash.
For people who are well off, there are a number of luxury items that can be purchased for well over $5000, or 2500 euros. One rather well off student
I know, whose parents live out of the country running an international business, is lucky enough to buy bags, jewelry and other extravagant things
that are far over the $5000 limit. Not that I really care if she or people like her are affected.
The problem here is control.
Banks at one time were considered riskier than stocking your mattress or attic with valuables. Because of regulations and positioning, some people
don't even have the option of where they want to hold their wealth. And that... is the disturbing part.
No cash today, could mean paying the banks to hold your money tomorrow. If the dwindling interest paid on a person's
capital doesn't already
feel like they are taking your money....