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Could cash become criminal?
5 min readMay 20, 2020
Could cash ever become criminal?
I read an article on this a while ago and it’s not a ludicrous question.
Money has dramatically changed in my lifetime. Many of us keep some cash in our pockets but most of our money is “out there” in some form or another in a digital world.
Do you really even know how it all works or how it is tracked? Sure you get a statement each month but so what — Bernie Madoff’s clients had statements and Jon Corzine once said he :didn’t lose a billion and a half bucks” — “he can’t find it”.
- In 2010 Italy banned cash transactions over 5000 euros in the name of austerity.
- In 2011 Italy lowered that to 1000 euros.
- In 2012 Spain banned cash payments in excess of 200 euros.
On another side, big exchanges of money such as purchasing a home or payroll are handled by direct bank to bank transfers and direct deposits. Even micro payments are now handled digitally with things such as Square.
