Cash Ban: Greeks Face “Permanent Cash Controls and Compulsory Use of Plastic Money”

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In a stunning move towards the elites' endgame of 'banning cash', Greek authorities unveiled stricter capital controls for civil servants and pensioners this weekend. By drastically limiting cash withdrawals and forcing the more 'controllable' compulsory use of plastic money, Greek authorities hope to stop tax evasion through the use of 'fake cash registers'.

 

As KeepTakingGreece.com reports,

A shock-measure: civil servants and pensioners will be subject to stricter capital controls than the rest of the Greeks. They will be able to withdraw only €150 per week – with the cash withdrawal cap being €420 per week – that is a total of €600 per month. The rest of their wage or pension they will have to spend by using debit or credit card.

The news fell like a bombshell on Saturday evening and spoiled the weekend of millions of Greeks. It will probably spoil the rest of their lives too.

Greek media revealed, that the Finance Ministry plans to impose such a measure in order to combat tax evasion, but of course, not the tax evasion committed by the civil servants and pensioners as this is not possible as the state deducts their share on tax before they receive wages and pensions but the tax evasion committed by business owners.

According to the Finance Ministry plan, civil servants and pensioners will be able to withdraw in cash only part of their wages and pensions and the rest will have to remain in their bank deposit account. This remaining amount they will have to spend only through the compulsory use of debit or credit card.

“The measure will affect 2.65 million pensioners and 600,000 civil servants,” notes newspaper To Vima that revealed the shocking plan.

The newspaper adds that with this measure, the compulsory use of plastic money, the business owner , whether a shop or a professional like doctor, plumber etc will not be able to evade taxes since all transactions will be recorded in the banking system.

The Finance Ministry reasoning behind this plan is first of all the assumption that the money – or large party of the money – it pays in wages and pensions is been used in real economy without receipt thus without Value Added Tax and tax revenues for the state.

“Every month the State and the pension funds pay for salaries and pensions of approximately €2.6 billion, that is €30 billion per year.  The salary or the pension comes into the bank account of the beneficiary, who can withdraw 420 euro per week due to the capital controls.

This cash money is being used for the purchase of goods or services “and a large percentage of these transactions does not bring revenues to the state as the transactions are being done without the issue of receipt or receipt are issued by so-called fake cash registers which are manipulated to show less revenues.

In this way, the state suffers revenue losses of approximately 15-20 billion euro per year due to not collection of Value Added Tax and income tax,” from businesses and self-employed.

With this measure the state calculates that it will receive in no time revenues from V.A.T. and will not miss a cent from income tax. The state expects to rapidly increase its revenues and “proceeds to future reduction of the tax rates of 8.500,000 taxpayers.”

The Finance Ministry apparently considers to exempt pensioners of over 75 years old from the measure as well as those living in remote areas where the use of plastic money is limited.

If the measure successfully increases the state revenues and does not puts obstacles in the operation of households, “it can be extended also to salaries of the private sector.”

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The plan revelation triggered an outcry and anger not only among the civil servants and pensioners but also among those not affected by it. But there is more...

Plastic money compulsory for new companies

Another measure is apparently under way in the fight of tax evasion.

“Companies that are founded from next year onward plus a range of sectors of the Greek economy will only be able to accept payment via debit or credit card, according to a plan being drawn up by the government.

 

The plan, which has yet to receive the final approval from the country’s lenders, foresees all new companies having to be equipped with point of sale (POS) terminals that can accept credit and debit cards. The same will apply to numerous professions like will include doctors, lawyers, electricians and plumbers, which are all professions where tax evasion is thought to be rife.”

 

(full article ekathimerini)

Also in this case, the ambitious legislator will create 2 businesses categories and exclude form competition the new companies as they will not be able to accept cash.

Who wins?

One has also to ask who wins from these measures except the state and the revenues it calculates to receive.

For sure the biggest winner are the banks: first of all, they will keep longer the amounts of pensions and civil servants salaries. It could be 1-1.5 billion euro per month. Secondly, because they charge 2 euro per transaction via debit or credit card.

100 Reasons To Shut Down The Federal Reserve

Alternate Title: How you are enslaved without your knowledge

December 23rd, 1913 is a date which will live in infamy.  That was the day when the Federal Reserve Act was pushed through Congress.  Many members of Congress were absent that day, and the general public was distracted with holiday preparations.Now we have reached the 100th anniversary of the Federal Reserve, and most Americans still don’t know what it actually is or how it functions.  But understanding the Federal Reserve is absolutely critical, because the Fed is at the very heart of our economic problems.  Since the Federal Reserve was created, there have been 18 recessions or depressions, the value of the U.S. dollar has declined by 98 percent, and the U.S. national debt has gotten more than 5000 times larger.  This insidious debt-based financial system has literally made debt slaves out of all of us, and it is systematically destroying the bright future that our children and our grandchildren were supposed to have.  If nothing is done, we are inevitably heading for a massive amount of economic pain as a nation.  So please share this article with as many people as you can.  The following are 100 reasons why the Federal Reserve should be shut down forever…  (Video and Text)

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The Constitution has been suspended since the time of reconstruction. As long as we are at WAR the Constitution is suspended. We have only had 22 years of peace in our entire history. We are under Martial Law and have been since April 23,1863 with the issue of General orders 100. If you truly want to fix things, we need a TREATY FOR PEACE FOR ALL WARS.

Read the Lieber Codes. The army generals know this. As of now we are under the velvet glove,but soon very soon we will be under the IRON FIST of government. Wait till they come to take the guns with U.N. troops. You can not fix it if you do not know what is broken.

Notes from "THE KISS OF DEATH"

Today in the nuclear weapons complex there are 10,500 contaminated sites, 2.3 million acres under DOE ownership, and 120 million square feet of buildings.  The 1995 high base cost, estimated by the DOE Environmental Management program, to clean up the environmental legacy is $350 billion. That excludes the Nevada Test Site, Hanford, the Savannah, Clinch rivers, and the Columbia river which are considered to be "national sacrifice zones" because the technology does not exist to clean them up.

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