It is currently Mon May 29, 2017 8:53 am

All times are UTC + 1 hour





Post new topic Reply to topic  [ 43 posts ]  Go to page Previous  1, 2
  Print view Previous topic | Next topic 
Author Message
 Post subject: Re: Ban Cash Altogether.
PostPosted: Mon May 09, 2016 3:32 pm 
Offline
Site Admin
User avatar

Joined: Sat Jan 31, 2009 12:01 am
Posts: 4957
Location: St. Méard de Gurçon, West Dordogne
FWIW I just got back from London, where contactless payments were rife...

...Unless you're trying to use a French bank card. Neither of mine worked anywhere.

_________________
Andrew Rose


Top
 Profile  
 
 Post subject: Re: Ban Cash Altogether.
PostPosted: Fri Jun 03, 2016 5:12 am 
Offline

Joined: Tue Feb 03, 2009 12:08 pm
Posts: 1970
Location: Zurich and Suffolk
Now it is the UK's turn:

http://www.telegraph.co.uk/news/2016/06 ... e-unteara/


J


Top
 Profile  
 
 Post subject: Re: Ban Cash Altogether.
PostPosted: Fri Jun 03, 2016 8:55 pm 
Offline

Joined: Tue Feb 03, 2009 9:08 am
Posts: 2141
Location: Ardeche
2+2 = 5

There are no plans does not equal it will not happen.

I have no plans to die - point made I hope.

_________________
Andy


For every problem there is a solution that is simple, quick ..............and wrong.


Top
 Profile  
 
 Post subject: Re: Ban Cash Altogether.
PostPosted: Mon Jun 13, 2016 8:20 am 
Offline

Joined: Tue Feb 03, 2009 9:08 am
Posts: 2141
Location: Ardeche
Interesting to hear this morning that Walmart Canada are to cease accepting Visa cards because of the costs involved.

One swallow does not make a summer, but I think this does show the sort of pressures a cashless economy faces.

Equally I would not be surprised if this public statement is a move in a clash of giants (large supermarket chain versus large card company) to gain a better deal (Vexit anyone?).

_________________
Andy


For every problem there is a solution that is simple, quick ..............and wrong.


Top
 Profile  
 
 Post subject: Re: Ban Cash Altogether.
PostPosted: Fri Jan 27, 2017 5:38 pm 
Offline

Joined: Tue Feb 03, 2009 12:08 pm
Posts: 1970
Location: Zurich and Suffolk
Meanwhile back in the EU the threat to cash rolls on with the "Proposal for an EU initiative on restrictions on payments in cash" - dated 23/1/17 despite its URL

http://ec.europa.eu/smart-regulation/ro ... ons_en.pdf

Of course, it is phrased as countering terrorists / tax avoiders / paedophiles / criminals / <insert bogeyman here>.

However, when the next bank goes belly up the more depositors' money in the banks to be used in the subsequent bail-in the better.

J


Top
 Profile  
 
 Post subject: Re: Ban Cash Altogether.
PostPosted: Fri Jan 27, 2017 7:10 pm 
Offline

Joined: Sat Jan 31, 2009 2:29 pm
Posts: 9715
Location: Alpes-Maritimes
niemeyjt wrote:
Meanwhile back in the EU the threat to cash rolls on with the "Proposal for an EU initiative on restrictions on payments in cash" - dated 23/1/17 despite its URL

http://ec.europa.eu/smart-regulation/ro ... ons_en.pdf

Of course, it is phrased as countering terrorists / tax avoiders / paedophiles / criminals / <insert bogeyman here>.

However, when the next bank goes belly up the more depositors' money in the banks to be used in the subsequent bail-in the better.

J


It's an early stage proposal. I think the French legislation is probably more advanced.

Do you have a problem with legislation that stops tax evasion, money laundering and other criminal activities?


Top
 Profile  
 
 Post subject: Re: Ban Cash Altogether.
PostPosted: Sun Jan 29, 2017 11:35 am 
Offline

Joined: Sat Jan 31, 2009 11:04 pm
Posts: 910
Location: 46
DaveW wrote:
Do you have a problem with legislation that stops tax evasion, money laundering and other criminal activities?
Not at all however there are many perfectly legitimate reasons for ordinary folk to want to use cash for certain things.

Here's a hypothetical scenario for you: Imagine a member of your family suddenly found themselves in money trouble and desperately in need of a couple of thousand pounds to tide them over, then lets say that was money you had in the bank and were more than willing to gift to them.

Now think how miffed you would you be if the rules prevented you withdrawing that and simply giving it to them and that your only legal options were by cheque or some sort of electronic means both of which would leave a trail which in turn could potentially result in them paying up to 40% tax on it as unearned income ?

Giving it in cash would be evading that possibility but would it really be tax evasion in the sense that you are arguing, I think not.

There is also stuff like buying a second hand car where both for buyer and seller folding money will always be king and with a little fore though and planning that's likely to remain so regardless of any rules to the contrary.

Finally it's a rare individual indeed who can honestly assert that they have never so much as once cut a deal with somebody for cash so be very careful when climbing up onto that pedestal !

Sadly, and as in so many other fields of regulation, the rules often harm and inconvenience the innocent as much or more than the guilty who will always find alternative ways to conduct their nefarious businesses.

_________________
Anything found here will have been inserted by the site NOT me !


Top
 Profile  
 
 Post subject: Re: Ban Cash Altogether.
PostPosted: Sun Jan 29, 2017 12:13 pm 
Offline

Joined: Tue Feb 03, 2009 12:08 pm
Posts: 1970
Location: Zurich and Suffolk
DaveW wrote:
It's an early stage proposal. I think the French legislation is probably more advanced.

Do you have a problem with legislation that stops tax evasion, money laundering and other criminal activities?


Yes - when 1) it won't do what is intended and 2) the collateral damage is greater.

J


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 43 posts ]  Go to page Previous  1, 2

All times are UTC + 1 hour


Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Jump to:  



Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
greenmiles v1.1 designed by CodeMiles Team -TemplatesDragon-.