Mexico To Restrict Cash Transactions

Comments Off on Mexico To Restrict Cash Transactions

Another country has joined the list for limiting cash transactions by it citizens. Mexico has signed into law, a ban on large cash transactions carrying a minimum penalty of 5 years in prison.

Large Cash Transactions Banned In Mexico … Outgoing Mexican President Felipe Calderon has signed into law a ban on large cash transactions. The ban will take effect in about 90 days and it is part of a broader effort to control monetary flows within the country. Under the law, a Specialized Unit in Financial Analysis operating within the Attorney General’s Office will be created to investigate financial operations “that are related to resources of unknown origin.” 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. – Forbes

and as the Daily Bell put it

The power elite intends to lock down the world, it seems, in order to track every monetary transaction of any significance.

We wrote about this trend previously in “Spain Bans Cash.” Here’s an excerpt:

… As we have long predicted, the phony “sovereign debt” crisis in Europe is being used to justify all sorts of authoritarian measures.

…..

these national bans continually pressure more and more freedoms, including the freedom of shielding one’s wealth from prying eyes. And that’s just the point …

In the last 2 years the following countries have made similar restrictions.

Source: The Daily Bell

Cash Transaction In Italy To Be Banned Over €50 In Next 2-3 Years

Comments Off on Cash Transaction In Italy To Be Banned Over €50 In Next 2-3 Years

Back in January this year, Italy announced plans to limit cash transactions and also all credit card transaction had to be reported. Now it looks to push the limit even lower by possibly early next year the limit could be  as low as €50. Other countries have announced cash limits but none as draconian is this YET. How long before all cash transactions and we go full digital?

 Below is a google translate from Sudtirol News:

Rome – The technical Rome government wants to limit cash transactions in Italy.From 2013, citizens may pay amounts in excess of 50 euros only by credit or debit card. Dies hat der Ministerrat heute beschlossen. That the Council of Ministers decided today.

The measure is intended to reflect the money laundering and black money payments to clamp down.  Since July, the government has banned cash transactions over 1,000 euros.

Source: Suedtirolnews

EU To Ban Iran Oil, China to Benefit

Comments Off on EU To Ban Iran Oil, China to Benefit

As the EU prepares to ban oil imports from Iran, China is standing by to take up most of the spare capacity. As reported by Reuters today,

M. Qamsari, International Director of the National Iranian Oil Co (NIOC), told Reuters by telephone from Tehran shortly before the report on the EU stance emerged.

“We could very easily replace those customers,” said Qamsari. Some, but not all, of any displaced volume could move into China as well as other Asian countries and Africa, he said. Iran was unlikely just to store crude on tankers as that was only a short-term solution.

So how much goes to the EU.

Roughly 30 percent, or just under 700,000 bpd, of Iran’s oil steams west of Suez, he said. More than half that volume is shipped to Europe, roughly 200,000 bpd goes to Turkey and the remainder is routed into Africa.

The International Energy Agency estimates Iran exports about 450,000 bpd to the European Union.

Who is this really going to hurt? We can see from the statement below the European Consumer will suffer through higher prices. It’s always the people who suffer from these decisions.

The NIOC official said Europe’s longstanding buyers of Iranian crude – among them France’s Total and Italy’s Eni – have voiced concern about potential EU sanctions, but had yet to cut back on contractual supplies.

Any punitive moves by Brussels could cause European consumers to suffer through higher prices at the pump, he said.

When you break it down

EU impose ban => EU citizens suffer and China gets secure oil contracts.

Just BRILLIANT 😉

%d bloggers like this: