Now Mexico Bans Cash

Large Cash Transactions Banned In Mexico … Outgoing Mexican President Felipe Calderon has signed into law a ban on large cash transactions. The ban will take effect in about 90 days and it is part of a broader effort to control monetary flows within the country. Under the law, a Specialized Unit in Financial Analysis operating within the Attorney General’s Office will be created to investigate financial operations “that are related to resources of unknown origin.” For real estate transactions, cash payments of more than a half million pesos ($38,750) will be forbidden and, for automobiles or items like jewelry, art, and lottery tickets, cash payments of more than 200,000 pesos ($15,500) will be forbidden. The law carries a minimum penalty of five years in prison. – Forbes

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Dominant Social Theme: Terrorism must be combated by controlling people’s money.

Free-Market Analysis: What we consider to be the “phony” war on terror is the gift that keeps on giving to those who run our governments.

The phony war on drugs only adds to the rationales for telling people what they can and cannot do with their resources.

What is going on is a pattern, not a series of defensive moves taken out of desperation. The power elite intends to lock down the world, it seems, in order to track every monetary transaction of any significance.

We wrote about this trend previously in “Spain Bans Cash.” Here’s an excerpt:

… As we have long predicted, the phony “sovereign debt” crisis in Europe is being used to justify all sorts of authoritarian measures.

It is government pols that gladly borrowed what European banks threw at them. And somehow the upshot earlier this week is that Spanish citizens now lose the right to conduct many transactions in cash.

Spectacularly, the reports such as this one, excerpted above, don’t even both to hide the real point. The Spanish government wants to ensure that it can “track transactions and make sure that people and businesses are paying taxes.”

Of course, anyone who has visited Spain of late knows that the tax burden in Spain is onerous indeed, and is one reason that the truculent tribes that have co-existed uneasily with Madrid are again beginning to beat the drums of secession.

The taxes that the central government levies on small businesses especially are verging on punitive. But there are no apologies. The official position is one of unflinching demands.

And now Mexico is going the way of Spain. Always there is a justification. But the reality of the project is much broader and has to do with a power elite wish, apparently, to create a world government that is fully in charge of what people can and cannot transact. Here’s some more from the Forbes article excerpted above:

In 2010, Mexico instituted strict limits on foreign exchange cash transactions to $1,500 per person per month, which caused several cash dollar exchanges to withdraw from the business and had the effect of penalizing tourists.

Of course, US dollars are a huge portion of the actual paper cash that this effort is aimed at, but the Mexican peso is the 12th most traded currency in the world and by far the most traded currency in Latin America.

Reuters reported that, “Sales of drugs from marijuana to cocaine and methamphetamine in the United States are worth about $60 billion annually, according to the United Nations. About half of that amount is estimated to find its way back to cartels in Mexico.”

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