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Russia To Ban Cash Transactions Over $10, 000

Russia To Ban Cash Transactions Over $10,000

The government plans to slash the amount of cash in domestic trade

Viktor Kuzmin | special to RBTH
March 25, 2013 Viktor Kuzmin

Russia may ban cash payments for purchases of more than 300,000 rubles (around $10,000) starting in 2015. The move is expected to boost banks’ cash reserves and put a damper on Russia’s shadow economy. However, the middle class will most likely end up having to pay the price for the scheme.

Read more: http://rbth.ru/business/2013/03/25/russia_to_ban_cash_transa...

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deleted

posted in the wrong place. sry

Outlaw cash and only outlaws will have cash.

The rest of us will have junk silver and bitcoins.

A good question is just who

A good question is just who has $10000 laying around and just what are they buying with all these transactions above $10k?

Yea, I dont think there should be any restrictions on cash flow, but ya gotta admit that the average person typically isnt going to be using cash to pay for something that pricey.
I dont know how they think this will slow down blackmarket deals though. Interestingly, if cash somehow does become restricted to them, the blackmarkets will probably end up using thier own currency. haha The banking system etc probably really wouldnt like that.

To climb the mountain, you must believe you can.

We just had

our (1.5 acre)yard landscaped and sodded and it cost over 10G and we paid cash. We like to pay cash for large purchases because many businesses actually give a cash discount, they don't have to pay the cc processing fees and many times they pass that savings on to the customer but you have to ask.

Why is that a good question? Your question seems lame.

Who cares if someone has $10k cash laying around? Who cares what anyone buys with that money? Sitting on a bunch of cash and/or buying stuff with that cash infringes upon no ones life liberty or property so it's strange to me why you(or anyone else) would care what someone else does with their own property.

uh a nice used car costs

uh a nice used car costs $10k?

$10,000 cash?

Hello fincen.gov !

Fincen.gov also knows who made the airline shorts on 9/10/01.

They have the names.

All governments hate

All governments hate financial privacy. I remind you that here in the U.S., while you can engage in cash transactions above $10,000, such transactions have to be reported to the feds:

http://www.irs.gov/pub/irs-pdf/f8300.pdf