# War on cash TFSA bad investment ?



## lonewolf (Jun 12, 2012)

Greece is now taxing money that is with drawn from ATMs.

Australia has started to tax money held in banks.

Something like 30% of government bonds in EU have negative interest rates.

France confiscating cash from tourists & its citizens if they are carrying above a certain amount.

Mexico 5 years in prison for large cash transactions

Spain bans cash transactions over 2500 euros

Israel, Sweden & Denmark are on the path to slowly eliminate all cash transactions.

City bank charging customers money if they hold large accounts ( I think that was also the bank in the United States that would not take cash to pay credit cards)

Bonds, stocks & real estate are all in perhaps the biggest bubbles ever. When they pop & drop 90% give or take a few percent having money in registered accounts most likely will be taxed. The bankers in bed with a few politicians is going to make it very hard for us to keep the money we have worked hard for away from them.


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## none (Jan 15, 2013)

Dumbest.

Post.

Ever.


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## supperfly17 (Apr 18, 2012)

Or...

Top 

CMF

Troll

Ever


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## Westerncanada (Nov 11, 2013)

supperfly17 said:


> Or...
> 
> Top
> 
> ...


No question. ...


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## gibor365 (Apr 1, 2011)

> France confiscating cash from tourists & its citizens if they are carrying above a certain amount.


 Holy s%$#! We're going to France in June ... how much I can take cash that it won't be confiscated?!


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## james4beach (Nov 15, 2012)

The new laws in France are actually pretty crazy. Residents of France may not make payments exceeding 1,000 EUR.

http://www.reuters.com/article/2015/03/18/us-france-security-financing-idUSKBN0ME14720150318

So it will no longer be legal to buy a car in France for 2,000 EUR. It really is a move by government to step up their level of control and monitoring of every transaction in society.


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## GreenAvenue (Dec 28, 2011)

The banks in Europe are not as out of control as they are here. So it's nonsense to state that you can't buy a car over 1000 Euro. Using a bank to transfer larger amounts of money can be transferred at no cost for consumers as here in Canada you get charged for every fart in the direction of a bank. Also: France has way a far bigger muslim population than any city in Canada. I think trying to keep a society in good standing with so many religions is something no one has dealt with in this country and is definitelly not 'actually pretty crazy'.


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## CalgaryPotato (Mar 7, 2015)

What is the goal of the legislation? To cut down on under the table transactions?


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## RBull (Jan 20, 2013)

^from the first 2 sentences. 



> France will step up monitoring of cash payments, withdrawals and small bank accounts to better fight against the financing of terrorism, Finance Minister Michel Sapin said on Wednesday.
> 
> Just over two months after Islamist gunmen killed 17 people in attacks against a satirical weekly and a Jewish foodstore in Paris, it is necessary to "fight against the use of cash and anonymity in the French economy", Sapin said.


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## lonewolf (Jun 12, 2012)

Eliminate cash the banks can go to negative interest rates & charge higher fees. Plus collect more taxes from under the table transactions. The move by Australia to tax savings I really do not like. Holding different currencies, gold & silver out side of Canada & moving to another country if things get stupid here might be an option people might want to possibly prepare for.


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## lonewolf (Jun 12, 2012)

Calgary potato the goal of eliminating cash is also to stop bank runs & use the money for bail ins.


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## dogcom (May 23, 2009)

Go back to the 1990's and say to people that central banks would bring in zero interest rates and start a massive QE program not once but multiple times. Add to that they are thinking of creating huge bond and stock market bubbles and would manipulate every market within their grasp to stop the appearance of inflation so the dollar wouldn't crumble because of their QE and ZIRP. 

The response from most forums would be worst post ever and conspiracy nut and so on.

The goal of the legislation, so they tell the public calgarypotato, may be to cut under the table transactions, but in reality they are setting us all up if they need us to be ransacked or controlled later. Look at how bad the police state is getting in the US because of 9/11 and those laws were set to counter terrorism but now those same authorities are now terrorizing there own citizens. Of course younger people living in the digital world have a hard time seeing things from what they are or could be but for those who have lived long enough they can see the potential threats and problems.


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## sags (May 15, 2010)

We are from the government...........and we are here to help you.


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## Eclectic12 (Oct 20, 2010)

dogcom said:


> ... in reality they are setting us all up if they need us to be ransacked or controlled later. Look at how bad the police state is getting in the US because of 9/11 and those laws were set to counter terrorism but now those same authorities are now terrorizing there own citizens...


I understand the point ... but at the same time, considering that if a cop decided to pull a US citizen over around the Gulf Coast and decided there were drug money involved - the local cops got a cut as well as the DA.

If the US citizen decided to fight it ... they had to put up a bond equal to what had been confiscated *in order to go to court.*


Or where an unreliable drug informant fingered a cop's house (neither the raiding cops nor the informant seemed to be able to find out that it was a cop's house) - they raided the house anyway. The cop told the news show that it was lucky their gun wasn't handy as the cops didn't identify themselves so that shooting would have broken out.

... and that's well before 9/11.


Or how about the CIA program that proposed that dropping LSD on enemy cities would be a great way to leave the assets intact while disabling resistance. Several Americans it was tested on died. Fortunately, the plan to have a full scale test on a Mid-West American city was scrapped by the higher ups (though it did piss off the program manager as "how are we going to know it works?").


So AFACIT ... "terrorizing there own citizens" is nothing new for US.


Cheers




Cheers


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## gibor365 (Apr 1, 2011)

> The new laws in France are actually pretty crazy. Residents of France may not make payments exceeding 1,000 EUR.


 and who gonna track it?! If somebody buying 3000 EUR car fro example?


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## james4beach (Nov 15, 2012)

Well by outlawing > 1,000 EUR cash transactions, they're just decreeing it illegal. I'm not sure how they will "track" it.

It's funny that all the countries bringing in anti-cash measures have flip flopped between justifications of money laundering and terrorism.

I don't like this anti-cash shift happening


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## gibor365 (Apr 1, 2011)

> It's funny that all the countries bringing in anti-cash measures have flip flopped between justifications of money laundering and terrorism


 Actually in Israel where terrorism is REAL thing, the anti-cash measures justification -> Tax evasion = 20% of GDP 



> I'm not sure how they will "track" it.


 It's just not feasible


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## dogcom (May 23, 2009)

Your right electric the crap in the US has gone on for a very long time. They just use big events as a means to bring in and pass bills they may not have been able to pass before the event whether it be real or a false flag.

James4beach the game plan I believe is to keep mentioning anti-cash ideas and slow implementations of measures to not use cash and over time we will accept the idea without much protest. Forum buddies have to remember they put in the time, earned their money and paid taxes on it and why is it the business of banks and the government what legal things you spend your hard earned cash on.


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## james4beach (Nov 15, 2012)

This movement has been happening in Canada too. Here's a 2012 blog post about anti-cash propaganda on the CBC
http://www.greatponzi.com/articles/20120416-anti-cash.html

The guest on CBC was talking about how only terrorists, prostitutes and drug dealers use cash. See? Bad people use cash. You're a good person, use an easy-to-trace credit card.


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## OhGreatGuru (May 24, 2009)

The published rationale by the French government is to fight terrorism/crime; but I suspect cutting down on the underground economy is also lurking somewhere. In any case, cash is the choice of criminals because it is untraceable, whether we like it or not. So if the problem is big enough, the innocent will have to suffer inconvenience in order to curb the guilty, just like airport security measures.

In my visits to western Europe I have also seen customers in stores handing over quite large amounts of cash; for purchases which in Canada would more often be dealt with by credit or debit card, if not cheque. I don't know if it is a cultural/sociological difference; or if the banking system and credit cards companies are charging fees that have discouraged the use of credit and debit cards.


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## dogcom (May 23, 2009)

Criminals will always find a way. These attempts are for us the innocent to be milked, exploited and controlled. 

On the roads they make their money getting us for speeding but the guy who breaks into a car gets nothing because he can't pay. Or the attempt to register guns was a headache for honest gun owners and the criminals of course don't register, not that I am for guns in any way.

Or politicians will legislate so they and their banks are safe from any future carnage but we pay for it. In the US and probably Canada you are just another investor in the bank with your deposits but the criminals who mess up and destroy the banks through derivatives are ahead of you in line. This of course makes forcing you to put your money in the bank all the better for them.


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## gibor365 (Apr 1, 2011)

> In my visits to western Europe I have also seen customers in stores handing over quite large amounts of cash;


 True! Especially I was surprised in Switzerland.... nobody excepts credit card.... even one their bigges!t supermarket chain (don't remember the name) and restaurants....!



> is to fight terrorism/crime


 imho, this is excuse... governments just want to track people and know everything about everyone...


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## james4beach (Nov 15, 2012)

Fighting terrorism is an excuse.

The government wants to control. It's all about control and power... the same reason they spy on your personal communications, track your border crossings, etc.

It's control. (Supposed) terrorism is a great excuse for all of this, including spying on your own citizens.


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## gibor365 (Apr 1, 2011)

james4beach said:


> Fighting terrorism is an excuse.
> 
> The government wants to control. It's all about control and power... the same reason they spy on your personal communications, track your border crossings, etc.
> 
> It's control. (Supposed) terrorism is a great excuse for all of this, including spying on your own citizens.


You just repeated what I wrote above, but in more academical style 

btw, another good example FATCA ... I've read article that spendings on implementation this "FUCTA" much much higher than projected income. So, it's pretty clear why it was implemented!


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## dime (Jun 20, 2013)

There's been quite a few articles about this type of thing lately. I think its because the average person has very little incentive to keep their money in a bank account any more. Any term deposit doesn't keep pace with inflation after tax. 

First remember the assets sized in Cyprus. Consider now how Greece is now following a similar path. A bank "bail in" is 
"A precedent was set for seizing bank accounts under the “bail in” doctrine in Cyprus, where people awoke one March 2013 morning to find their banks locked and ATM access to their accounts shut down. " 
http://www.westernjournalism.com/governments-next-tax-target-your-bank-account/
http://www.bloomberg.com/news/artic...otest-government-decision-to-seize-their-cash 
http://www.forbes.com/sites/stevefo...yprus-like-seizure-of-your-money-happen-here/

"There is no guarantee that deposit-holders would not be hurt if they had more money in the bank than the $100,000 guaranteed by CDIC."
http://www.cbc.ca/news/business/moo...o-negative-on-ottawa-s-bail-in-rule-1.2700128


French Finance Minister Michel Sapin has announced increased control of “the use of cash in France.”
http://cointelegraph.com/news/11420...ancial-instruments-including-cryptocurrencies


"Some JPMorgan Chase customers are receiving letters informing them that the bank will no longer allow cash to be stored in safety deposit boxes."

http://etfdailynews.com/2015/04/22/...-the-storage-of-cash-in-safety-deposit-boxes/
http://countingpips.com/2015/04/chase-cracks-down-on-cash-is-your-bank-next/

Imagine having $16,000 cash taken from you because the law thought it was 'suspicious' that you had that much cash. But you are not charged with any crime and do not get your money back...
"Under a federal law enforcement tool called civil asset forfeiture, he need never be arrested or convicted of a crime for the government to take away his cash, cars or property – and keep it. Agencies like the DEA can confiscate money or property if they have a hunch, a suspicion, a notion that maybe, possibly, perhaps the items are connected with narcotics. Or something else illegal."

http://www.abqjournal.com/580107/news/dea-agents-seize-16000-from-aspiring-music-video-producer.html


I think the world bankers are also concerned that the US velocity of money continues to drop. It's an important economic indicator, which is the frequency at which one unit of currency is used to purchase domestically- produced goods and services within a given time period. Why is this? I imagine that it's because the average person is holding onto any extra money they have, and not spending it. What do you guys think? What's causing the velocity of money to drop and is it related to our ultra low / negative interest rates and the 'war on cash'? 
https://research.stlouisfed.org/fred2/series/M2V/

For some reason it I wouldn't be surprised if suddenly I read it's illegal again for people to hold gold, unless you're a central bank.


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## dogcom (May 23, 2009)

http://www.maxkeiser.com/2015/05/martin-armstrong-reports-on-a-secret-meeting-in-london-to-ban-cash/

Bankers are starting to ramp this up in secret of course until they are ready to screw with us, after a financial crisis which is getting closer to happening. The next recession that the stock market finally has no choice to see, will usher in a collapse that will be far worse then 2008.


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## sags (May 15, 2010)

One doesn't have to be a conspiracy theorist to notice the trends.......from government spying on their citizens every move and conversation, to tracking their money.

Maybe it is all a big coincidence......a sign of the times, or then again...........maybe not.


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## OhGreatGuru (May 24, 2009)

VAT rates in Europe range from 15 to 27%. Most are 20% or higher. Credit card transactions provide a nice paper trail for auditors. I suspect the restrictions on cash transactions have as much or more to do with cutting down on tax evasion as security.


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