Is a Global Wide Cash Ban Coming?
Anyone who has been paying attention over the last four years knows the Europe is ground zero for Central Planning insanity.
Europe was created as a union with open borders with the open flow of capital. However, the elites have clearly demonstrated that they are willing to lie cheat and steal in order to maintain their agenda.
Case in point, Europe has already seen:
1) The implementation of border and capital controls during a crisis (2012-2013).
2) The confiscation of bonds or savings deposits to “bail-in” insolvent entities (Netherlands in 2011, Spain in 2012, Cyprus in 2013).
3) The implementation of Negative Interest Rate Policy or NIRP in which savings are taxed by banks (2014 until today).
Put simply, Europe is where Central Planners in the developed world first implement their policies to see if they can get away with them.
Which is why the following should be on everyone’s radar.
Proposal for an EU initiative on restrictions on payments in cash
As preventing the anonymity linked to cash payments is the main driver, the objective can be attained by restricting cash payments through an EU legislative instrument, and thereby forcing payments through means that are not anonymous (bank transfers, checks, etc.). But the same objective could also be attained by, while still allowing unrestricted cash payments, imposing a declaration to a competent authority. This would allow the continuous reliance on cash payments, with its benefits in terms of simplicity and cost.
Put simply, Europe is now proposing a potential “threshold” on cash payments for the EU as a whole.
Individual EU member countries have already passed similar laws: France has banned any transaction over €1,000 Euros from using physical cash. Spain has banned transactions over €2,500. Germany is now proposing banning cash from transactions of €5,000 or higher.
However, the above proposal marks the first such proposal for a cash ban that would exist across the entire EU.
As we have been stressing for the last few months, the elites war on cash is not over, by any means. If anything it’s about to intensify.
Indeed… we’ve uncovered a secret document outlining how the US Federal Reserve plans to incinerate savings.
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Chief Market Strategist
Phoenix Capital Research