Why Is Germany Eliminating Paper Money?

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Getting rid of paper money may help fight terrorism and even help prop up the banks—but is there a more sinister reason for these new financial controls?

Germany is considering abolishing the €500 note and introducing a €5,000 (us$5,600) limit on cash transactions. It is part of a plan proposed by Chancellor Angela Merkel’s partners in the Social Democratic Party to cut off terrorist financing in Europe. Banning the bills will supposedly help make people safer. In reality, it will do the exact opposite.

German Deputy Finance Minister Michael Meister told Deutsche Welle on February 3 that Germany would push these reforms at the European level. “Since money laundering and terrorism financing are cross-border threats,” it makes sense to adopt a European Union-wide “solution,” he said. But “if a European solution isn’t possible, Germany will move ahead on its own” (emphasis added throughout).

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Why the Euro Is Heading for an Earthshaking Crisis

Because the article has so many good points, a majority of it will be left up, as has been done here in rare cases.

Courtesy of The Trumpet:

 

And why the euro is incompatible with democracy

European leaders are in a panic. Greece’s banks are closed. Experts warn the global economy is under threat. And it all hinges on Greece’s place in the eurozone.

Fears of rioting and mass panic, dormant since the Greek fires of 2008, are rising again.

It shows just how fragile the eurozone is. In April 2014, the Greek government was able to borrow money on the normal financial markets at the relatively high, but not appalling, rate of 4.95 percent. As far as lenders were concerned, the euro crisis was over. Greece was no longer dangling over the edge of a precipice. Instead, it could borrow money just like any other normal nation. Continue reading