{"id":17328,"date":"2016-02-03T11:20:32","date_gmt":"2016-02-03T16:20:32","guid":{"rendered":"http:\/\/olduvai.ca\/?p=17328"},"modified":"2016-02-03T11:20:32","modified_gmt":"2016-02-03T16:20:32","slug":"germany-unveils-cash-controls-push-ban-transactions-over-e5000-e500-euro-note","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=17328","title":{"rendered":"Germany Unveils &#8220;Cash Controls&#8221; Push: Ban Transactions Over \u20ac5,000, \u20ac500 Euro Note"},"content":{"rendered":"<h3 class=\"title\"><a href=\"http:\/\/www.zerohedge.com\/news\/2016-02-03\/germany-unveils-cash-controls-push-ban-transactions-over-\u20ac5000-\u20ac500-euro-note\" target=\"_blank\">Germany Unveils &#8220;Cash Controls&#8221; Push: Ban Transactions Over \u20ac5,000, \u20ac500 Euro Note<\/a><\/h3>\n<p dir=\"ltr\">It was just two days ago that\u00a0<a href=\"http:\/\/www.bloombergview.com\/articles\/2016-01-31\/bring-on-the-cashless-future\">Bloomberg implored<\/a>\u00a0officials to \u201cbring on a cashless future\u201d in an Op-Ed that calls notes and coins \u201cdirty, dangerous, unwieldy, and expensive.\u201d<\/p>\n<p dir=\"ltr\">You probably never thought of your cash that way, but increasingly, authorities and the powers that be seem determined to lay the groundwork for the abolition of what Bloomberg calls \u201cantiquated\u201d physical money.<\/p>\n<p dir=\"ltr\">We\u2019ve documented the cash ban calls on a number of occasions including, most recently,\u00a0<a href=\"http:\/\/www.zerohedge.com\/news\/2016-01-23\/norways-biggest-bank-demands-cash-ban\">those that emanated<\/a>\u00a0from DNB, Norway\u2019s largest bank where executive Trond Bentestuen said that although \u201cthere is approximately 50 billion kroner in circulation, the Norges Bank can only account for 40 percent of its use.\u201d<\/p>\n<p dir=\"ltr\">That, Bentestuen figures, \u201cmeans that 60 percent of money usage is outside of any control.&#8221; &#8220;We believe,&#8221; he continues, &#8220;that is due to under-the-table money and laundering.\u201d<\/p>\n<p dir=\"ltr\">DNB goes on to say that after identifying \u201cmany dangers and disadvantages\u201d associated with cash, the bank has \u201cconcluded that it should be phased out.\u201d<\/p>\n<p dir=\"ltr\">On Tuesday we got the latest evidence that officials across the globe are preparing to institute a cashless \u201cutopia\u201d\u00a0<a href=\"https:\/\/global.handelsblatt.com\/edition\/354\/ressort\/finance\/article\/the-death-of-cash\">when Handelsblatt reported<\/a>\u00a0(in a piece called &#8220;The Death of Cash)\u00a0that\u00a0<strong>the Social Democrats &#8211; the junior partner in Angela Merkel\u2019s coalition government &#8211; have proposed a \u20ac5,000 limit on cash transactions and the elimination of the \u20ac500 note.\u00a0<\/strong><\/p>\n<p dir=\"ltr\"><strong><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user92183\/imageroot\/2016\/02\/02\/Euros_0.png\" alt=\"\" width=\"500\" height=\"321\" \/><br \/>\n<\/strong><\/p>\n<p dir=\"ltr\">Berlin is using a familiar scapegoat to justify the plan: the need to fight &#8220;terrorists&#8221; and \u201cforeign criminals.&#8221;<\/p>\n<p dir=\"ltr\">\u201cLimits on cash transactions would discourage foreign criminals from coming here to launder money,\u201d says a paper penned by the Social Democrats.\u00a0<strong>\u201cIf sums over \u20ac5,000 have to pass through traceable bank transactions, laundering would be severely hampered, it adds.\u201d<\/strong><\/p>\n<p dir=\"ltr\">&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Germany Unveils &#8220;Cash Controls&#8221; Push: Ban Transactions Over \u20ac5,000, \u20ac500 Euro Note It was just two days ago that\u00a0Bloomberg implored\u00a0officials to \u201cbring on a cashless future\u201d in an Op-Ed that calls notes and coins \u201cdirty, dangerous, unwieldy, and expensive.\u201d You probably never thought of your cash that way, but increasingly, authorities and the powers that [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[83,1035,4787,359,536,8019,12099,5432],"class_list":["post-17328","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bloomberg","tag-cash","tag-cash-ban","tag-germany","tag-money","tag-norges-bank","tag-op-ed","tag-physical-cash"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/17328","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17328"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/17328\/revisions"}],"predecessor-version":[{"id":17329,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/17328\/revisions\/17329"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}