We Are About To Witness A Major Move Toward A Cashless Society

The war on cash has just gone to an entirely new level.  When I heard that the European Union was planning to completely ban all cash transactions above 10,000 euros, I had a hard time believing it.  There are so many wild rumors flying around on the Internet these days, and so I wasn’t going to write about this unless I could confirm it.  Unfortunately, this particular rumor is quite real.

Under the pretext of fighting “money laundering and terrorist financing”, the European Union will be entirely outlawing all cash payments greater than 10,000 euros. 

The following comes from the official website of the Council of the European Union…

By limiting large cash payments, the EU will make it harder for criminals to launder dirty money. An EU-wide maximum limit of €10.000 is set for cash payments. Member states will have the flexibility to impose a lower maximum limit if they wish.

So this means that in some countries the upper limit could potentially be a lot lower than 10,000 euros.

But instead of framing it as a major move toward a cashless society, the EU is trying to claim that this is all about fighting terrorists. – READ MORE