Austrian Minister Calls For a Constitutional Right To Pay In Cash
New submitter sittingnut writes: Bloomberg reports that Austrian Deputy Economy Minister Harald Mahrer has called for a constitutional right to use cash to protect their privacy. According to the report, Mahrer said, "We don't want someone to be able to track digitally what we buy, eat and drink, what books we read and what movies we watch. We will fight everywhere against rules," including caps on cash purchases. EU finance ministers at a meeting in Brussels last Friday urged the European Commission, the EU's executive arm, to "explore the need for appropriate restrictions on cash payments exceeding certain thresholds," " to crack down on "illicit cash movements."
Smart for them! Much smarter than today's geeks who want every penny tracked!
I don't respond to AC's.
If people can store cash in their mattress, you can't jack up negative interest rates and force consumers to spend like they should! The flow of money to the 1% would decrease slightly! Won't anyone think of the 1%?
I can't help but to see where a cashless society will only raise new black markets and increase crime. Nearly every form of prohibition brings additional criminal elements with it and a cashless society is a prohibitive society. Hopefully this gets real traction among other nations as well.
Now if the European Commission only had any respect for its member nations' constitutions...
Good. And, more specifically, the right to pay for things anonymously, much like you have the right to speak anonymously.
It isn't about thwarting justice. It is about forbidding government the tools of tyranny, including the ability to filch through your stuff and activities at will until they find something they can tag you, uppity person, with.
(-1: Post disagrees with my already-settled worldview) is not a valid mod option.
I was living in small apartment building that got sold to a corporation. A month after the manager moved out of his apartment and returned to Mexico, a corporate representative asked if I paid cash and had receipts for the last two months. I did and showed him the receipts. Turned out everyone paid in cash and had receipts. The former manager drove off with $10,000+ in rents that he supposed to deposit into the corporate account. After that we had to pay by check or money order.
The Minister probably realized that all the electronically transferred bribes^wcontributions they have been getting from various lobbies, special interest groups, etc. could be traced more easily than a bag of small unmarked bills..
Though even a bag full of cash can be traced to a fair degree by the serial numbers on the bills.
The idea that a law is needed for this just makes me wish the asteroid would hit the "reset life" button on earth already,,,
paypal is not a bank
That's not what I've been told when I worked at eBay/PayPal (years before the recent corporate split). Although not a bank per se, PayPal does fall under banking regulations. What that meant for the IT department was that we had to keep eBay assets and PayPal assets separate from each other. (Assets being anything with an asset tag such as laptops and monitors; cables, keyboards and mice were interchangeable.) Also, if you worked for PayPal directly and not eBay/PayPal, your credit record has to be much cleaner than average, no bankruptcies in the last ten years, and any adverse downward changes in credit score can result in immediate termination when your credit report gets periodically reviewed.
While I generally agree with him (less for privacy purposes and more for not paying a transaction fee to a credit card ever time), making it right would add a lot of potential problems to it. For example, what about online only transactions? Would Ebay or Spotify be required to somehow accept cash payments? I am all for companies not being forced to go electronic only, but I also wouldn't want to try and force every company to have to accept cash either.
"Information wants to be expensive" - Stewart Brand, the same guy who said "Information wants to be free"
What? Paying cash in a terraced place?
Linux is for people who don't mind RTFM.
In the UK they get handed out in airports - no ID is required. Spain is very different (as far as I know) since the Madrid train bombings.
Austria not Australia.
Isn't that the same? Kind of like Swaziland and Switzerland isn't it?