Cashless society, forced banking, and the War on Cash

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In many regions people are being forced patronize banks. This community is for that discussion regardless of which side of the war on cash you are on.

The war on cash is war on privacy.

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activistPnk

Europe limits anonymous cash payments to €3k and all cash payments to €10k (www.evz.de)

submitted 4 months ago* (last edited 4 months ago) by activistPnk to c/cash

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The EU has quietly imposed cash limits EU-wide:

€3k limit on anonymous payments
€10k limit regardless (link which also lists state-by-state limits).

From the jailed¹ article:

An EU-wide maximum limit of €10 000 is set for cash payments, which will make it harder for criminals to launder dirty money.

It will also strip dignity and autonomy from non-criminal adults, you nannying assholes!

In addition, according to the provisional agreement, obliged entities will need to identify and verify the identity of a person who carries out an occasional transaction in cash between €3 000 and €10 000.

The hunt for “money launderers” and “terrorists” is not likely meaningfully facilitated by depriving the privacy of people involved in small €3k transactions. It’s a bogus excuse for empowering a police surveillance state. It’s a shame how quietly this apparently happened. No news or chatter about it.

¹ the EU’s own website is an exclusive privacy-abusing Cloudflare site inaccessible several demographics of people. Sad that we need to rely on the website of a US library to get equitable access to official EU communication.

update

The Pirate party’s reaction is spot on. They also point out that cryptocurrency is affected. Which in the end amounts to forced banking.

#warOnCash

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[–] solo 4 points 4 months ago* (last edited 4 months ago) (1 children)

The Pirate party’s reaction is spot on. They also point out that cryptocurrency is affected.

It seems to me that decentralized wallets are not affected.

Also - and without wanting to undermine the importance of the posted input - these are coordinated policies due the European Central Bank effort to roll out the digital euro (which is the european version of a CBDC - Central Bank Digital Curency), potentially in Nov 2025.

First a digital ID needs to be launched and be widely adopted, so that your personal wallet is connected to it. For europe it's called eID. In this wallet will be stored the digital euros. What banks say is "don't worry, it's like your physical wallet, but on your phone". What banks and governments don't tell you is that unlike your physical wallet this digital one will not be controlled by you. Also there will be a 2-tier system of wholesale and retail CBDCs. As the WEF says:

A retail CBDC is used by the general public, while a wholesale CBDC is used for transactions between banks and other financial institutions.

Which means different rules for us people, and different rules for institutions by default.

To leave this on a positive note I would say that from the institutional side everything is being delayed worldwide for tones of reasons. From our side we can already do many things. For example using cash helps. using a crypto like monero through a decentralized wallet helps, delaying to obtain a digital Id (wherever this is possible) helps. And we learn as we go!

[–] activistPnk 1 points 1 week ago* (last edited 1 week ago)

From our side we can already do many things. For example using cash helps. using a crypto like monero through a decentralized wallet helps, delaying to obtain a digital Id (wherever this is possible) helps. And we learn as we go!

Yeah indeed we need more cash and/or cryptocurrency users. More speciifically, fewer bank users. It’s really a tough sell because people are so hooked on convenience. And I think that convenience is so powerful that it manufactures a good dose of bias that prevents the convenience zombies from absorbing anything bad news about banks. This is compounded with the addiction to Amazon.