Two great stories on Mexico today. The first comes from Forbes and highlights the most recent move toward the elite’s ultimate goal, a “War on Cash.” From the article:
For real estate transactions, cash payments of more than a half million pesos ($38,750) will be forbidden and, for automobiles or items like jewelry, art, and lottery tickets, cash payments of more than 200,000 pesos ($15,500) will be forbidden. The law carries a minimum penalty of five years in prison.
Two years in the making, the new law also requires notaries, real estate brokers, and other dealers to report the forms of payment for transactions above the respective limits. Financial institutions will also be required to report monthly credit card balances in excess of 50,000 pesos ($3,875).
Although it’s part of a global trend among governments, Mexico will still have a long way to go to catch up. Spain recently banned cash transactions above 2,500 euros and Italy banned cash transactions above 1,000 euros.
Think about this for a second. Five years in jail for using cash. Meanwhile, banksters and oligarchs rob trillions from the public throughout the world and as punishment they generally get promoted.
Joe,
ReplyDeleteIt's all about the government getting more and more control over the lives of its subjects, I mean citizens, under the guise of preventing criminal transactions.
They are just following the lead of the u.s. government. If an american deposits $10,000 in cash in the bank it is reported to the government by the bank. Its the law....Es la ley... The next step after the system has been set up for reporting will be to withhold tax from the money. Then you will be required to prove you don't owe this tax if you want to get it back..
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