28.3 C
New York
Monday, April 29, 2024
HomeMarkets
MarketsPerspectives

How Long Before Cash is Banned?

By Ilene
0
54
psw-placeholder
psw-placeholder

Courtesy of Mish.

A regular reader who I trust 100% has been traveling in Italy for a month. She has this report on cash vs. credit cards.

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

Cards Not Appreciated

In essence, CNA just confirms two things we already know.

  1. Italy, Greece, and other club-med states want to crack down on rampant tax evasion.
  2. Businesses resist.

What's the Real Problem?

Is the problem really tax evasion, or is the problem that taxes are so freaking high on so many things, in so many ways, that everyone hides income every chance they can?

There are already limits on cash transactions. I wonder … How long will it take for cash transactions to be banned entirely?

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

 

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments

Stay Connected

157,304FansLike
396,312FollowersFollow
2,290SubscribersSubscribe

Latest Articles

Load more

Note: The material presented in this commentary is provided for informational purposes only and is based upon information that is considered to be reliable. However, neither PSW Investments, LLC d/b/a PhilStockWorld (PSW) nor its affiliates warrant its completeness, accuracy or adequacy and it should not be relied upon as such. Neither PSW nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance, including the tracking of virtual trades and portfolios for educational purposes, is not necessarily indicative of future results. Neither Phil, Optrader, or anyone related to PSW is a registered financial adviser and they may hold positions in the stocks mentioned, which may change at any time without notice. Do not buy or sell based on anything that is written here, the risk of loss in trading is great.

This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities or other financial instruments mentioned in this material are not suitable for all investors. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only intended at the moment of their issue as conditions quickly change. The information contained herein does not constitute advice on the tax consequences of making any particular investment decision. This material does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation to you of any particular securities, financial instruments or strategies. Before investing, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

Contact us: support@philstockworld.com

© Copyright - PSW, LLC.

2024
0
Would love your thoughts, please comment.x
()
x