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Australia Bans Cash for All Purchases Over $7,500 (Jul 2019)
- mogoman 8y agoThey have similar limits in Europe already. Is this also the case in the US?
- runwerks 8y agoit is not.
- iamatworknow 8y agoTechnically in the US any transaction over $10,000 is supposed to be reported to the IRS (https://www.irs.gov/pub/irs-pdf/f8300.pdf https://www.irs.gov/pub/irs-pdf/f8300.pdf), but I'm not sure how strict enforcement is on that.
- tomohawk 8y agoDuring FDR's presidency, they confiscated all the gold (forced you to sell it at a fixed price to the US gov't) and required an IRS agent to be present when safety deposit boxes were opened. They also imposed price controls, imprisoning people who charged too much or too little for goods and services. There was a lot of bartering going on.
- vlucas 8y agoCurious. By "cash" do they mean only actual stacks of bills or all forms of "paper" payment like checks and cashier's checks too? Maybe not since those require a bank account and are traceable?
- Willson50 8y agoThe article says checks are allowed.
- superkuh 8y agoThe war on cash marches on. The limit will get lower and lower and eventually individuals will have no right to trade or enter into transactions as individuals. You'll always have to use a third party institution to pay for things. Paying yourself will be a crime and transactions will be at their whim. All economic activity will be surveilled and stored.
- teilo 8y agoThus encouraging the black market economy to transition to cryptocurrency even faster.
- bitconion 8y agoso... use bitcoins!
- tonyztan 8y agoOriginal post on this topic: https://news.ycombinator.com/item?id=17043340 https://news.ycombinator.com/item?id=17043340