Spain Bans Cash (illegal, illegals, financial, government)

[All American NYC]

Spain Bans Cash Transactions Over 2,500 Euros ... Spain has outlawed the use of cash in business transactions in excess 2,500 euros in order to crack down on the black market and tax evaders. The motivations behind the push for digital currencies is exposed as Spain heads down the road of the Greeks in combating their sovereign debt crisis...........they are now banning all large cash business transactions. Why? So they can track the transactions and make sure that people and business are paying taxes. Being able to track the transactions is also aimed to combat the growing black market in Spain

For ballers it will be harder to make it rain in the club.

[AeroGuyDC]

That's a sure sign of financial desperation.

[RCCCB]

Originally Posted by AeroGuyDC

That's a sure sign of financial desperation.

It would make a lot of illegals go back home in their nation if they could not use cash in a gray market.

[Krazyone57]

Originally Posted by All American NYC

For ballers it will be harder to make it rain in the club.

LOL! That really made me laugh.

[Jaggy001]

Seems like a reasonable measure to me.

[EuroTrashed]

Originally Posted by Jaggy001

Seems like a reasonable measure to me.

Hitler seemed reasonable too to many people. It just meant they were stupid.

[pghquest]

Originally Posted by Jaggy001

Seems like a reasonable measure to me.

Tell me, if the reason for this is to crack down on those who are doing illegal activity, do you really think they will follow the law and not use cash?

[KUchief25]

Sounds more like their afraid of a bank run here coming soon with folks all wanting their dough back that was stolen and gambled away by the financial institutions. I don't think Germany has the dough to bail out Spain like they did Greece. This could get interesting very quickly.

[lifelongMOgal]

Originally Posted by AeroGuyDC

That's a sure sign of financial desperation.

Heck, its been happening in parts of the USA for a while now. Expect this to become the norm as the world moves toward digital currency exclusively (see Sweden).

[Frank DeForrest]

I cant wait until the government is able to track every transaction I make and find ways to tax me on them.