Courtesy of Mish.
A few days ago I asked How Long Before Cash is Banned?
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
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