Posted May 4, 2015 by Martin Armstrong
France is the most socialist country in Europe; it always attacks anyone with money. France’s latest war on money is broadening to create a virtual lockdown on all assets. France is strengthening the control of cash payments drastically. Additionally, gold sales and movement of any tangible goods is to be reported.
The French Finance Minister Michel Sapin, has announced a drastic tightening of the use of cash in France. As the newspaper Le Parisien reported, citizens will be strictly monitored beginning September 2015 if they make payments in cash. Restrictions will include:
- A limit on cash payments will be reduced from 3,000 euros to 1,000 euros.
- Tourists can only pay up to 10,000 euros in cash, so far there were 15,000 euros.
- If a Frenchman wants to change money into another currency, it must still do to 1,000 euros without identification only. So far, French could buy foreign currencies for 8,000 euros.
- If a bank customer stands out more than 10,000 euros a month from his account, the bank must report the transaction to the Money Laundering Authority TRACFIN.
- Banks must inform the authorities of all cargo transfers within the EU that exceeds 10,000 euros. This regulation impacts checks, pre-paid cards, and even gold.
- The control of crypto-currencies like Bitcoin are set to be tightened drastically.
This is the economic tyranny we currently face. What is yours really belongs to them, as they see it. We no longer live in a democratic world. This is all about controlling the people to sustain their power. The French official reason for these measures is the “War on Terror”. In fact, it is the measure that we are witnessing around the globe because those in power feel it slipping away. This is not a War on Terror; it is a war against the people in the form of financial repression. It is still unclear whether other Euro countries will follow the example of Paris and its citizens in other countries to restrict the free private use of their money.