Will it be inflation adjusted?
If inflation continues (financial repression to reduce debt and mitigate the aging population makes that likely), that 3000€ will soon be 1500€ in today's money and you won't even be able to by a mid range laptop with cash in 10 years.
At the current official 2.5% inflation it'll happen anyway after 28 years.
It's basically a cash ban over the next decades. Great news in the current private surveillance economy.
Belgium, France, and Spain all have had cash limits of €3k, €3k, and €1k respectively for some time now. And the US has a variety of reporting triggers set at $10k. None of those limits have been inflation adjusted. So indeed more and more people become subject to unwarranted surveillance as time moves further beyond 1984.
But then consider Germany. Germans are wise enough to understand what they give up when giving up cash, so while the EU law has little effect on Belgium, France, & Spain, Germans are getting fucked by the EU on this and AFAIK there is no inflation adjustment at the EU level either.
It’s a shit law but if we must have it I would like to see it indexed to postage costs, which has been going up by leaps and bounds. The cost of printing a page at the library has gone from 5¢ to 10¢ in the past year.. so that would be a good inflation index for this as well.
Germans might legitimately riot if cash is straight up outlawed, so that's why polticians have to resort to underhanded tactics like this.
Personally, I think barrels of Campbell's condensed tomato soup is the best inflation proxy, mostly because it's really funny:
And that's while top EU officials are still not being elected, and are in fact personally mostly shitty people and most likely very corrupt and with solid background of being in bed with dictatorships and cleptocracies.
Just let terrorists do the transactions so you can follow their cash flow. This is only hurting people who need to make some large down payment legitimately and now have to jump through hoops.
This is only hurting people who need to make some large down payment legitimately
Yes, this is intended
Chat control was beat. This can be too. Contact your MEP, let them know this issue is important to you: https://www.europarl.europa.eu/meps/en/home
Thanks for the link.
It’s important to note that chat control keeps getting reincarnated. So it’s an on-going fight.
It will also strip dignity and autonomy from non-criminal adults, you nannying assholes!
They are not assholes. They are in fact very smart and steadily moving towards their goal.
They are reducing applicability and efficiency of the means they themselves don't need. Their crimes are done the old-fashioned way, plus when you are a high-ranking official or a businessman or a politician, who'll even try to investigate you if you've done nothing clearly wrong?
By the way, I'm not saying it's a sign of some USSR 2.0 . Rather mafia becoming stronger. Well, look which people hold high posts in EU institutions. They are almost openly mafia tools.
They are not assholes. They are in fact very smart and steadily moving towards their goal.
They are reducing applicability and efficiency of the means they themselves don’t need.
You just described people looking after the interests of number 1 at the expense of others. We call them “assholes”. That’s the appropriate term for what you describe.
(btw, this is orthogonal to intelligence… there are smart assholes and there are stupid assholes).
The medicines or sex toys I buy is nobody’s business.
Seems like this is not an interesting topic to most of the voters. Based on the pirate party blog post this was already put in place mid march, way before the EU election days in june. Seems this did not leave an impact on most people, which will hardly ever handle that much cash anyway.
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