Lower interest rates, 50 yr treasuries, negative yield, BOOM...

[DFW]

31. I quite agree

And I doubt that Cyprus is technologically more advanced than the U.S. government.

Here in Germany, the legal limit of cash transactions that didn't have to be registered was €10,000 (similar to the $10,000 limit in the USA). Starting next year, the government is reducing that to €2000. The used car market here is huge, since German cars are usually well-made, and people sell their used ones for cash all the time. People drive four or five hours to see, test, and buy used cars in the €1500 to €10,000 range all the time. No one wants to wait around for a bank transfer to be credited or a check to clear, so these are often sold for cash. Any such transaction as of next year will be against the law. The reasoning given was "to combat money laundering," which is the biggest bunch of garbage imaginable. It's their excuse for everything, including eliminating the €500 bill from circulation.

The drug trade, huge here, launders its money (usually all in €10, €20 and €50 bills) by reporting huge turnover from video arcades (where no one ever visits) and out-of-the-way taxi companies who hardly ever drive customers. They report hundreds of thousands every week in turnover. The tons of small bills are deposited, duly reported, and presto! the money is legal. This was explained to me by an officer of the BKA (German FBI). But the politicians don't like to go after guys like that (they shoot back, kidnap family members of uncooperative politicians, etc.). So they go after the poor guy who wants to get €6000 for his fifteen year old Mercedes, which he himself bought for €9000 three years ago. Pretty courageous, right?