Sunday, July 1, 2012

Spain Limits Cash Transactions to its Citizens


By LUIS MIRANDA | THE REAL AGENDA | JUNE 27, 2012
The country of Spain, now completely under the control of Brussels central bankers, has decided to limit the amounts of money people can take out of cash machines and other transactions. The measure comes just after the government led by Mariano Rajoy decided to officially request a financial rescue of its banking system, a plan under which the country surrenders complete control of its sovereignty to the European central bankers who will funnel the money to Spain’s banks in an orderly fashion. This decision, said Rajoy, comes as the nation of Spain seeks to make the right decisions to ‘grow and progress’ in the middle of Europe’s financial collapse.
The government of Spain has already implemented several other measures to secure monies from the taxpayers such as the limits imposed on the amount people can withdraw from their bank accounts, reductions in the salaries paid to those who work for the government, cuts in the payments of pension funds, an increase in the retirement age, and other obligations imposed on Spain as conditions to receive the money with which its banks will be ‘rescued’. The main limitation to people who work with banks in Spain is the prohibition to carry out commercial activities that go over 2500 euros. This new limitation applies to both businesses and individuals.
According to FOREX News, the new rules imposed by the government in Brussels, also contemplate fines for people or businesses who do not report the existence of bank accounts outside Spain. The fine will have a minimum of 10,000 euros and people will be accused of trying to evade the payment of taxes over those funds. This is seen as another attempt from the bankers and the government of Spain to track down every single penny that individuals and businesses possess so that it can be easily taken away should they not comply with upcoming rules dictated by the European bankers. Spanish people had already begun moving their money to accounts outside the country in anticipation to their government’s intent to confiscate it in the future. Countries like the United States have also admitted publicly that the federal government will go after people who have moved their assets to other countries to avoid paying taxes on those earnings.

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