James Li of 51/49 on youtube pointed out that it's illegal to use cash on purchases over 1000 euros in Europe. My biggest fear is the government's digital currency. They mandate that, then it's all over. Can't pay for the Racket if they can simply prevent you from buying it by flipping a switch. That will be end of everything. Comply or starve. Very 1930s Stalin.
We have a law that any cash transaction over $10,000 must be reported to the IRS. This was passed sometime around 1990 to catch "drug dealers". Since the law was passed the price of most things has at least tripled, but the 10K threshold still remains the same. Give it a few more decades and if your still able to use cash, merchants could be reporting a trip to the grocery store to the IRS. Why would the merchant report you? It's a felony not to report any cash transaction over 10K. I wanted to puke every time I had to report someone to the IRS. Many of those I reported had been stashing cash over a long period of time, saving up to make a large purchase. Some were small business owners from minority communities. I can't remember anyone giving off a drug dealer vibe.
That's a good point about the 10k law. I wonder how many "drug dealers" it caught, lol. The problem with blockchain currency is that I think there's a record for every transaction. No more reporting anything. They can just search the block chain. But you also raise a good point about the reason for the law. That's how digital/blockchain currency tied to your phone could be sold to the American people as a crime and or terrorism prevention tool.
It is even worse. Try going to the bank to get 5 $100 dollar bills to give one to each of your grandchildren. They ask you to fill out a form to record receiving that much money in hundreds. Now I go get them one at a time...
Russell Brand just did a very good review of the digital currency. Britain is already planning to use it to prevent kids from buying beer and confirm citizenship. https://www.youtube.com/watch?v=R-olfLz6AgE
It will be interesting to see what happens with the writers/actors strike. My advice, don't overplay your hand. At dusk here in rural Illinois the fireflies come out. And then I can watch Perry Mason reruns. Life is good.
Two years ago our baseball park in S.F. stopped allowing cash transactions. This should be illegal.
James Li of 51/49 on youtube pointed out that it's illegal to use cash on purchases over 1000 euros in Europe. My biggest fear is the government's digital currency. They mandate that, then it's all over. Can't pay for the Racket if they can simply prevent you from buying it by flipping a switch. That will be end of everything. Comply or starve. Very 1930s Stalin.
We have a law that any cash transaction over $10,000 must be reported to the IRS. This was passed sometime around 1990 to catch "drug dealers". Since the law was passed the price of most things has at least tripled, but the 10K threshold still remains the same. Give it a few more decades and if your still able to use cash, merchants could be reporting a trip to the grocery store to the IRS. Why would the merchant report you? It's a felony not to report any cash transaction over 10K. I wanted to puke every time I had to report someone to the IRS. Many of those I reported had been stashing cash over a long period of time, saving up to make a large purchase. Some were small business owners from minority communities. I can't remember anyone giving off a drug dealer vibe.
I maybe a little naïve.
That's a good point about the 10k law. I wonder how many "drug dealers" it caught, lol. The problem with blockchain currency is that I think there's a record for every transaction. No more reporting anything. They can just search the block chain. But you also raise a good point about the reason for the law. That's how digital/blockchain currency tied to your phone could be sold to the American people as a crime and or terrorism prevention tool.
It is even worse. Try going to the bank to get 5 $100 dollar bills to give one to each of your grandchildren. They ask you to fill out a form to record receiving that much money in hundreds. Now I go get them one at a time...
not sure of your bank-- I have no problem at mine
things that never happened. atms dispense 100s
Actually I think it’s only $3000 according to my credit union.
Russell Brand just did a very good review of the digital currency. Britain is already planning to use it to prevent kids from buying beer and confirm citizenship. https://www.youtube.com/watch?v=R-olfLz6AgE
History strongly suggests there will never be a completely foolproof method for preventing kids from buying beer.
LOL. True. But that's how it starts. "We're just going to help the kids. You're not against kids are you?"
Europe is planning to use it to suppress speech.
Right?! To me, it's yet another infringement of our freedom to make the choice on how to pay for things.
Yes, the national pastime is clearly off limits to those who can't afford a credit card, or God forbid, get paid in cash
It will be interesting to see what happens with the writers/actors strike. My advice, don't overplay your hand. At dusk here in rural Illinois the fireflies come out. And then I can watch Perry Mason reruns. Life is good.
This seems to miss the point. Alternative vendors who take cash or bitcoin could flout the authorities. I am only sort of TIC.