My question was in reference to reader CNA (Cards Not
Appreciated) who commented ...
Hi Mish
I've been in Italy for a month. It's quite amazing how many
places ask you to pay cash. Even at hotels, they would like you to pay your
€1000+ bills in cash. And people 'wonder' why these countries always get into
trouble.
CNA
Cash Dinosaur
My belief is that cash is going the way of the dinosaur.
Just today we see another step in that direction.
France to Limit Cash Transactions
Via translation from El Economista, please consider France
Limits Cash Payments to 1,000 Euros
The French Government
will limit cash payments to 1,000 euros, compared to 3,000 euros today, a move
that will come into force in September to combat terrorist financing and money
laundering, in an announcement from Finance Minister Michel Sapin.
For non-residents (mainly tourists) the limit will drop from
15,000 to 10,000 euros.
Also, starting next year, banks will have to notify
authorities of any income or withdrawals of more than 10,000 euros per month.
Restrictions apply to suitcases with money or goods of value
like gold.
Yesterday, Today, Tomorrow
Yesterday the French cash limit was 3,000 euros. Today the
cash limit is 1,000 euros. Tomorrow (not in the literal sense as timing is
uncertain), cash transactions will be restricted to 100 euros, then banned
altogether.
The same applies everywhere, including the US..."
at
http://globaleconomicanalysis.blogspot.com/2015/03/cash-dinosaur-france-limits-cash.html#fFcvkV9iSXduCvll.99
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