Israel bans large cash transactions, requires digital payments

[1srelluc]

Israel has just banned using cash for purchases larger than $1,700 and instead requires residents to use digital transfers or debit transactions. Prior to the decision, cash transactions were capped at $3,200.

Exemptions for private citizens are in place, which allows for exchanges of up to $4,360 in cash. In addition, charitable organizations and those trading with Palestinians who are not citizens of Israel are also exempt for a limited time.

Israeli officials have claimed that the new cash limit is to combat criminal organizations that rely solely on cash trades.

“We want the public to reduce the use of cash money. The goal is to reduce cash fluidity in the market, mainly because crime organizations tend to rely on cash. By limiting the use of it, criminal activity is much harder to carry out,” said Israel’s Tax Authority head Tamar Bracha.

The intended effect of the new law is to reduce the amount of physical cash on the market.

Israel bans large cash transactions, requires digital payments - The Counter Signal

Yet the right-leaning still support the leftists there because they kill Arabs on occasion.

Blah, Israelis are basically Arabs with better clothes, an older book, and a much better propaganda machine here in the US.

 

[TNHarley]

Thats dumb. And also not surprising.. considering the country...

 

[Gabe Lackmann]

Could Israel be ANY more creepy?

The vax shit...now this?

I am SURE there is nothing greater behind this...

 

[georgephillip]

Israel has just banned using cash for purchases larger than $1,700 and instead requires residents to use digital transfers or debit transactions. Prior to the decision, cash transactions were capped at $3,200.

Exemptions for private citizens are in place, which allows for exchanges of up to $4,360 in cash. In addition, charitable organizations and those trading with Palestinians who are not citizens of Israel are also exempt for a limited time.

Israeli officials have claimed that the new cash limit is to combat criminal organizations that rely solely on cash trades.

“We want the public to reduce the use of cash money. The goal is to reduce cash fluidity in the market, mainly because crime organizations tend to rely on cash. By limiting the use of it, criminal activity is much harder to carry out,” said Israel’s Tax Authority head Tamar Bracha.

The intended effect of the new law is to reduce the amount of physical cash on the market.

Israel bans large cash transactions, requires digital payments - The Counter Signal

Yet the right-leaning still support the leftist there because they kill Arabs on occasion.

Blah, Israelis are basically Arabs with better clothes, an older book, and a much better propaganda machine here in the US.

Biden may have used the Russian invasion of Ukraine as a distraction to instigate a similar move towards a cashless society in the US:

FACT SHEET: President Biden to Sign Executive Order on Ensuring Responsible Development of Digital Assets | The White House

"Explore a U.S. Central Bank Digital Currency ""(CBDC) by placing urgency on research and development of a potential United States CBDC, should issuance be deemed in the national interest.

"The Order directs the U.S. Government to assess the technological infrastructure and capacity needs for a potential U.S. CBDC in a manner that protects Americans’ interests.

"The Order also encourages the Federal Reserve to continue its research, development, and assessment efforts for a U.S. CBDC, including development of a plan for broader U.S. Government action in support of their work.

"This effort prioritizes U.S. participation in multi-country experimentation, and ensures U.S. leadership internationally to promote CBDC development consistent with US priorities and democratic values."

 

[Dekster]

Israel has just banned using cash for purchases larger than $1,700 and instead requires residents to use digital transfers or debit transactions. Prior to the decision, cash transactions were capped at $3,200.

Exemptions for private citizens are in place, which allows for exchanges of up to $4,360 in cash. In addition, charitable organizations and those trading with Palestinians who are not citizens of Israel are also exempt for a limited time.

Israeli officials have claimed that the new cash limit is to combat criminal organizations that rely solely on cash trades.

“We want the public to reduce the use of cash money. The goal is to reduce cash fluidity in the market, mainly because crime organizations tend to rely on cash. By limiting the use of it, criminal activity is much harder to carry out,” said Israel’s Tax Authority head Tamar Bracha.

The intended effect of the new law is to reduce the amount of physical cash on the market.

Israel bans large cash transactions, requires digital payments - The Counter Signal

Yet the right-leaning still support the leftists there because they kill Arabs on occasion.

Blah, Israelis are basically Arabs with better clothes, an older book, and a much better propaganda machine here in the US.

I am okay with a cashless society. I use very little of it now anyway.

 

[1srelluc]

I am okay with a cashless society. I use very little of it now anyway.

When are you going to get your chip installed into your forehead?

 

[Dekster]

When are you going to get your chip installed into your forehead?

It is in my debit card already, so what difference does it make. Just a matter of a few feet of geography.

 

[rylah]

Thats dumb. And also not surprising.. considering the country...

Well, for some even Musk is 'dumb'...considering the country.

 

[The Irish Ram]

I am okay with a cashless society. I use very little of it now anyway.

Really?
Virtual currency (not crypto) in your government controlled virtual bank wallet that the gov. automatically deducts from when they fine you for buying soda pop, gasoline, cigarettes, beef, air conditioning use, refusal to be vaxxed, lacking the proper weekly exercise, using private transportation...

That is what is coming. They are setting the system up now. And it fufills yet another 2,000 year old prophecy. You won't be able to buy one thing without the government knowing it.

 

[rylah]

Could Israel be ANY more creepy?

The vax shit...now this?

I am SURE there is nothing greater behind this...

In Israel the vaccines were a simple choice.
What's so creepy about digital currency?

 

[rylah]

When are you going to get your chip installed into your forehead?

So much 80's...

Okay, so the gadget in our pockets, is connected to what?

 

[rylah]

The experiment that reveals: This is what the Bank of Israel’s digital shekel will look like​

Last week, the Bank of Israel published the results of its digital shekel experiment. The road to adopting a digital shekel in Israel is still long, but the bank’s document provides a glimpse into the future of world money in general and the country in particular. However, even before diving into the digital shekel, it is worthwhile to fully understand the background behind promoting the project.

The original purpose of the crypto was to replace the financial system, and to establish an alternative economy. The idea was founded after the 2008 crisis in which, at least, crypto proponents claim, the system made irrelevant decisions and rescued the banks, which made failed investments in mortgage-backed securities – at the expense of citizens.

At the core of crypto is the principle of decentralization: users make decisions, not a small group. In addition, there is no access restriction – anyone can be part of the financial “game”. In the past decade, the cryptographic system has become popular, especially in developing countries where citizens have difficulty accessing the traditional banking system. Two factors that developed in it challenged the central banks of the world: the first is currencies that wanted to issue giant companies like Meta, and the second is the stable currencies that are pegged to the value of an existing currency like the dollar or the euro. These currencies, which are not as volatile as regular cryptocurrencies, have become popular, and their volume is growing.

The stable currencies are in fact a promise that the currency will be equal to the value of the currency attached to it at any given moment, and for that purpose reserves are needed. This launching point between digital currency value and real currency value has an impact on traditional money. It has been a catalyst for central banks to develop a national digital currency – CBDC (Central Bank Digital Currency), which will allow for fast transfers and remote payments, while sending the currency directly from wallet to wallet. Many countries around the world are currently experimenting with the CBDC, studying the benefits of the system and its dilemmas. This is followed by the Bank of Israel’s experiment, and these are the insights from it.

Read more-

TIme News

time.news

time.news

 

[Dekster]

Really?
Virtual currency (not crypto) in your government controlled virtual bank wallet that the gov. automatically deducts from when they fine you for buying soda pop, gasoline, cigarettes, beef, air conditioning use, refusal to be vaxxed, lacking the proper weekly exercise, using private transportation...

That is what is coming. They are setting the system up now. And it fufills yet another 2,000 year old prophecy. You won't be able to buy one thing without the government knowing it.

I find it funny that people think their transactions are some big secret to begin with. I mean sure bottom feeders like criminals and tax evaders might not like it, but it is no different than many of us already are doing. Our paycheck goes in direct deposit, our bills come up, our swipes and taps are recorded, our online transfers recorded etc etc etc. I've had the same $47 in my wallet for going on three months. It was $50 but I did splurge on a mcdouble one day and the cashier was a dodgy looking sort so I didn't want to give them my plastic

 

[evenflow1969]

Israel has just banned using cash for purchases larger than $1,700 and instead requires residents to use digital transfers or debit transactions. Prior to the decision, cash transactions were capped at $3,200.

Exemptions for private citizens are in place, which allows for exchanges of up to $4,360 in cash. In addition, charitable organizations and those trading with Palestinians who are not citizens of Israel are also exempt for a limited time.

Israeli officials have claimed that the new cash limit is to combat criminal organizations that rely solely on cash trades.

“We want the public to reduce the use of cash money. The goal is to reduce cash fluidity in the market, mainly because crime organizations tend to rely on cash. By limiting the use of it, criminal activity is much harder to carry out,” said Israel’s Tax Authority head Tamar Bracha.

The intended effect of the new law is to reduce the amount of physical cash on the market.

Israel bans large cash transactions, requires digital payments - The Counter Signal

Yet the right-leaning still support the leftists there because they kill Arabs on occasion.

Blah, Israelis are basically Arabs with better clothes, an older book, and a much better propaganda machine here in the US.

Lol, you move more than 3200 here in and out of your bank account the bank sends a love letter to the feds. Welcome to the world of big brother. We are already there also. And we went like sheep.

 

[Gabe Lackmann]

In Israel the vaccines were a simple choice.
What's so creepy about digital currency?

A simple choice of...get the vax or stay in your house and eat paint chips.

What is so creep about a fully digital currency?

An 'Off' switch perhaps?

Come on...think just a couple steps forward.

 

[The Irish Ram]

I find it funny that people think their transactions are some big secret to begin with. I mean sure bottom feeders like criminals and tax evaders might not like it, but it is no different than many of us already are doing. Our paycheck goes in direct deposit, our bills come up, our swipes and taps are recorded, our online transfers recorded etc etc etc. I've had the same $47 in my wallet for going on three months. It was $50 but I did splurge on a mcdouble one day and the cashier was a dodgy looking sort so I didn't want to give them my plastic

There is a big difference. Our bank accounts aren't hook directly into the Fed Reserve like our digital ones will be. There will be "swipes" that the government will decline because they don't think it is in your best interest. You balance is determined by your social credit score. Not as climate friendly as they'd like you to be? Deduction. Personal transportation instead of public transportation? Deduct. Use more than your share of electric? Deduct. Eat too much, fat ass? Deduct.
Big, Big difference.
They Government spending is out of control. They have to have access to your money in order to take your money. It is what they spend.... They are creating the new currency now. You won't need to swipe anything but your right hand...

 

[HereWeGoAgain]

I am okay with a cashless society. I use very little of it now anyway.

I dont like the idea of the government controlling how I make my purchases.
It's all about control. If I want to walk into a car dealership and pay cash thats my business not the governments.

 

[Dekster]

There is a big difference. Our bank accounts aren't hook directly into the Fed Reserve like our digital ones will be. There will be "swipes" that the government will decline because they don't think it is in your best interest. You balance is determined by your social credit score. Not as climate friendly as they'd like you to be? Deduction. Personal transportation instead of public transportation? Deduct. Use more than your share of electric? Deduct. Eat too much, fat ass? Deduct.
Big, Big difference.
They Government spending is out of control. They have to have access to your money in order to take your money. It is what they spend.... They are creating the new currency now. You won't need to swipe anything but your right hand...

You have too much faith in our government's ability or willingness to do this. Even if they were to try, we have that fool-proof all-american backstop to protect us---crooked judge who don't want to get caught.

 

[LA RAM FAN]

Thats dumb. And also not surprising.. considering the country...

exactly i was about to say the same thing,why am i not surprised?

 

[LA RAM FAN]

Thats dumb. And also not surprising.. considering the country...

Israle wants to keep track of its citizens is why they are doing that.