War on Cash – France planning ‘anti cash’ capital controls – Q3 2015

From Joseph Salerno via Mises Institute,

  • “Prohibiting  French residents from making cash payments of more than 1,000 euros, down from the current limit of  3,000 euros.
  • Given the parlous state of the stagnating French economy the limit for foreign tourists on currency payments will remain higher, at 10,000 euros down from the current limit of 15,000 euros.
  • The threshold below which a French resident is  free to convert euros into other currencies without having to show an identity card will be slashed from the current level of 8,000 euros to 1,000 euros.
  • In addition any cash deposit or withdrawal of more than 10,000 euros during a single month will be reported to the French anti-fraud and money laundering agency Tracfin.
  • French authorities will also have to be notified of any freight transfers within the EU exceeding 10,000 euros, including checks, pre-paid cards, or gold.”

Read more @ Zerohedge.com….

Leave a Reply

Your email address will not be published. Required fields are marked *