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BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed

 
Anonymous Coward
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05/24/2010 10:40 PM
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BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed

Submitted by Tyler Durden on 05/24/2010 11:40 -0500

[link to www.zerohedge.com]
As part of its new austerity package, any cash transactions over 5,000 euros ( $6,188 ) will be banned in an effort to crack down on tax evasion, a government source said on Monday, reports Reuters. "Reducing the ceiling on cash transactions, which currently stands at 12,500 euros, forms part of the package of public sector hiring and wage reductions and spending cutbacks being prepared by Economy Minister Giulio Tremonti, the source said. The limit will also apply to cashiers' cheques." Yet another insolvent banking system comes to light, as all major transactions must occur within confines of Italy's financial institutions. We are confident this "simple" toggle will promptly fill Italy's empty tax coffers. Or not.


[link to wallstreetpit.com]

Last Edited by Mister Obvious on 09/11/2011 12:16 AM
Mujahid

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05/24/2010 10:56 PM
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Re: BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
mamma mia...

alone
Anonymous Coward
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05/24/2010 10:59 PM
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Re: BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
This is bad
Anonymous Coward
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05/24/2010 11:00 PM
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Re: BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
This is bad
 Quoting: Anonymous Coward 927592

And how is that?


Sounds like bsflag
Anonymous Coward
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05/24/2010 11:01 PM
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Re: BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
It is beginning.
Anonymous Coward
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05/24/2010 11:02 PM
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Re: BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
Yikes, I hope it's BS. But you know in the US I've heard that truncations of cash with banks that are 2,000 USD or more are registered and logged for review. Is this true?
Anonymous Coward
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05/24/2010 11:05 PM
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Re: BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
need coins!


Anonymous Coward
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05/24/2010 11:07 PM
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Re: BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
This is bad

And how is that?


Sounds like bsflag
 Quoting: Anonymous Coward 970043



Not having the freedom to pay cash for whatever you like if are lucky enough to have it.

Key word here - freedom
Anonymous Coward
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Australia
05/24/2010 11:19 PM
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Re: BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
who the hell transacts 5000 dollars at any 1 time?

fukn el.
Anonymous Coward
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Italy
05/24/2010 11:23 PM
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Re: BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
my personal 100 % italian bsflag for this

This stuff is simply false. Mr. Mafia - Camorra - P2 Masonic Lodge Commander in chief Berlusconi won't do this. BTW, in you go to the bank here and ask for 5.000 - 10.000 euros cash from your bank account the fuckers in the bank will tell you to come back in a couple of days. Then they give you the money. The bastards just don't have prompt cash.
Toad
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05/24/2010 11:24 PM
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Re: BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
I wonder if this news will hurt the markets?
Evil Twin

05/24/2010 11:29 PM
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Re: BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
who the hell transacts 5000 dollars at any 1 time?

fukn el.
 Quoting: Anonymous Coward 978949

I do. I paid $6000 cash for the last truck that I bought.
Anonymous Coward
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Italy
05/24/2010 11:32 PM
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Re: BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
the rest of the article it's true. But, guess what? Nobody here it's taking care or paying attention to this shit. Because hey...hey...hey...June 11 it's coming. Do you know what june 11 will bring? The starting of the World Cup!! Oh man, you have NO idea what happens in italy when the world cup starts......eheheh....
Anonymous Coward
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05/24/2010 11:32 PM
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Re: BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
i am sure this will really work.
all italians are great respecters of the law.
Anonymous Coward
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05/24/2010 11:33 PM
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Re: BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
read up on what's going on over there, because that's what will happen in the US by the end of the year.
ZTE

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05/24/2010 11:35 PM

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Re: BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
who the hell transacts 5000 dollars at any 1 time?

fukn el.

I do. I paid $6000 cash for the last truck that I bought.
 Quoting: Evil Twin



I took $10,000 out of my bank account a short while back. The look on the teller's face was priceless. But banks don't carry nearly as much cash as people think they do. So if you were going to withdraw a very large sum of money (6+ figures), then you'd have to wait for it anyway.
If you can justify killing one man, you can justify killing every man.

The Greatest Lie is the one never told, but assumed.

History isn't a measure of our successes, but the compilation of our mistakes.
Windsage4nli
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05/25/2010 12:06 AM
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Re: BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
OMG, this is huge news! This is pinworthy...!!

It's ITALY, ffs, not Nigeria. A civilized Western European nation, is taking draconian measures like this!! This is doom of a high order.

It won't be long now,,, I sure hope you guys are finished getting ready, cause it's HAPPENING!

OMG we are so f*cked! OMG OMG
ShadowFox

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05/25/2010 12:15 AM
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Re: BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
How are people gonna pay for some gears like guitars?
Anonymous Coward
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05/25/2010 12:23 AM
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Re: BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
who the hell transacts 5000 dollars at any 1 time?

fukn el.

I do. I paid $6000 cash for the last truck that I bought.
 Quoting: Evil Twin


Interesting that it is the withdrawals they are concerned about and not laundered deposits...
Anonymous Coward
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05/25/2010 12:49 AM
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Re: BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
goodbye euro hello sdr!
Anonymous Coward
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05/25/2010 01:02 AM
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Re: BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
How are people gonna pay for some gears like guitars?
 Quoting: ShadowFox

If tshtf, there won't be any $10,000 guitars. No guitar will be worth that much.
Werd
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05/25/2010 01:17 AM
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Re: BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
the rest of the article it's true. But, guess what? Nobody here it's taking care or paying attention to this shit. Because hey...hey...hey...June 11 it's coming. Do you know what june 11 will bring? The starting of the World Cup!! Oh man, you have NO idea what happens in italy when the world cup starts......eheheh....
 Quoting: Anonymous Coward 980779


Brazil all the way, doooom spankage on Italy, England and Germany... Argentina has nothing...
Werd
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05/25/2010 01:19 AM
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Re: BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
How are people gonna pay for some gears like guitars?

If tshtf, there won't be any $10,000 guitars. No guitar will be worth that much.
 Quoting: Anonymous Coward 913496


You have, obviously, never watched the movie: Six String Samurai ...
Anonymous Coward
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05/25/2010 01:27 AM
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Re: BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
i am sure this will really work.
all italians are great respecters of the law.
 Quoting: Anonymous Coward 980484



That was sooooo funny! rofl
Anonymous Coward
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05/25/2010 01:37 AM
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Re: BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
What´s the fuss, this has been procedure for many years allready in the EUSSR.
If you want to take out a large sum of money from the bank, you go back the next day and the next day to avoid their ridiculous "safety" procedures.
You are a tewwowist if you take out more than 5000 uero´s at once you see.
It think it was 4500 euro actually.
Matrix
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05/25/2010 01:43 AM
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Re: BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
If this is true, then they must be trying to keep the transaction lines less congested for when the big money moves. Can't have the sheep in the way, when the big boys need the bandwidth. Its just like the titanic, keep the third and second classes locked in the ship, so that the first class have full access to the life rafts.
Anonymous Coward
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05/25/2010 02:01 AM
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Re: BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
 Quoting: Anonymous Coward 862727






Believe it or not it has nothing to do with "European Austerity Package" and has everything to do with Italy being broke !!!

Totally broke !!!!!!!!!!!!!!
Anonymous Coward
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05/25/2010 02:38 AM
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Re: BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed





Believe it or not it has nothing to do with "European Austerity Package" and has everything to do with Italy being broke !!!

Totally broke !!!!!!!!!!!!!!
 Quoting: Anonymous Coward 980826

that´s funny
I thought it had something to do with a cashless society
Anonymous Coward
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05/25/2010 02:42 AM
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Re: BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
It's the second EU-country doing this. Firt GB, now Italy. Wait for the rest to follow.

I wonder how long it will take until ALL cash transactions are banned. It's much easier to follow the money if everything is paid via credit card.

Hi George Orwell, welcome NWO.

5a
Anonymous Coward
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05/25/2010 02:45 AM
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Re: BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
This news is true here u are the italian's one:

Ebbene, ora, questi provvedimenti saranno reintrodotti, senza che lo stesso Tremonti e l’intera maggioranza provino alcuna vergogna. La soglia della tracciabilità sarà ricondotta ai 5000 euro (ora è di 12.500) e sopra questa cifra sarà obbligatoria la fattura tracciabile.

[link to www.dazebao.org]
Anonymous Coward
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05/25/2010 02:54 AM
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Re: BRKG: Italy Banning Cash Transactions Over €5,000 As Latest European Austerity Package Revealed
It includes cashier's checks. How the hell does one buy a vehicle? 5000 euro won't be enough to buy a pair of jeans soon.