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The war on cash continues, a dispatch from the German front
Central banks don’t like cash, particularly when they want to impose negative interest rates on a failing global economy. (If banks were to offer negative rates cash would provide a yield and as such few would put money in the bank. The central bankers are very afraid of this scenario because it takes control away from them.) Central governmental authorities don’t like cash either because they can’t track each and every transaction for tax purposes if people do business in cash. (It’s not about terrorism.)
In short the war on cash is a war on everyday people and their dignity.
(From The AP)
The German government is considering introducing a limit of 5,000 euros ($5,450) on cash transactions in an effort to combat money laundering and financing of terrorism.
Deputy finance minister Michael Meister said Wednesday that Germany would like to see a European solution, but could introduce a national limit if none is achieved, news agency dpa reported. He said “we can imagine a level of 5,000 euros.”
It should be noted that if the German government was actually interested in addressing terrorism it might want to consider whether relocating tens of thousands of Syrian (there are many nationalities) “refugees” (and many actually are refugees) within its borders makes sense. Many of these refugees come into the country with almost no review.
http://www.againstcronycapitalism.org/
Source: http://www.againstcronycapitalism.org/2016/02/the-war-on-cash-continues-a-dispatch-from-the-german-front/
