Spain, it’s getting harder and harder to love you.
The Spanish bureaucracy is already too unwieldy, slow, and confused. This measure makes it possible to dispossess anybody whether they even try to access their own money.
Crazy in Spain
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Clarissa's Blog 
I think at that point I would start filing these forms every day and withdrawing the maximum in cash as quickly as possible. Well that or have most of it converted to bullion (physical not paper) and have it shipped to you.
That is the sort of things I expect to see before a possible Black Monday type of event.
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Oh and on the last 3,000 write in something like “I am withdrawing in cash as I have complete faith that the government will manage to collapse the economy, thus I am leaving this bank to its fate. Good-day.”
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First, they have gigantic blackouts that nobody has still managed to explain. Now they are barring people from accessing their own money. One has got to ask, what the bloody butt cheek is going on?
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“blackouts that nobody has still managed to explain”
when explanations are politically inconvenient they are notoriously hard to find….
What about the trains, there were different possible explanations given then too. Has any real explanation been offered?
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None that I know of. With socialists in power, it’s a mystery why this didn’t happen sooner. A more inept bunch of absolute idjits cannot be found.
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“barring people from accessing their own money”
Most likely theory is trying to crack down on the gray economy caused by insane Spanish over-regulation.
Rather than trying to non-insane regulations they’re gonna double down on enforcement (I sense a culture of bribes taking its place).
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Also something that just came to mind. A bank is not an investment like a stock portfolio, it quite literally is a place for our money to be stored. Everything else is services provided by the bank or incentives to store said money.
So knowing that, that is the case, what reason does the Spanish Tax Agency, or in the US, the Dept. of Treasury offer as their explanation of why we are limited on how much of our money (already taxed in the case of the US) from the banks in which we use to store our money.
If this money were from programs like Food-stamps or what have you, they might have a case in wanted to know what its being spent on. However if I want to withdraw 100K and spend all of it on cheese-its and possibly a down-payment on an old German WWII Panzer 1 tank, then I will damn well do so as its my money, that I spent huge chunks of my life acquiring.
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I’m also completely shocked that they demand an explanation. Is the money I made not really mine? It’s beyond wrong. Governments should fall for this kind of thing.
The excuse they give is that this is to prevent terrorism. The same government that filled the country with God knows what kind of people is preventing citizens from accessing their own money. I’m so mad v
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Have you never tried to take out a few grand from a US bank? They totally ask. I don’t know if it’s legally required, but they do, and it’s been this way for… (thinking) at least eight years.
I mean, could be drugs, could be terrorism. Could be every single working stiff who’s ever had to buy a used car from some guy on FB…
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“tried to take out a few grand from a US bank? They totally ask.”
I think the justification there is trying to prevent their customers from losing their money to scamsters…. in that sense, I actually approve.
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I can see that. I’ve never been on my way to do anything sketchy with the money, so I tell them the truth: I’m buying a used car. It still felt weird and invasive though, because as Clarissa points out: it’s my money.
Would probably approve if it was required for anybody who appeared to be over 65.
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Asking is one thing. Being legally required to file paperwork in advance is very different.
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If you take out more than $10,000 in cash, the US the bank will ask about it and report it to the government. They also look to see if you’re withdrawing amounts in such a way to get under the limit.
I don’t get why governments who make big noises about cracking down on crime, organized or not, even have crypto as acceptable currency, or have leaders with their own cryptocoin, but a first or second order effect of these regulations is to differentiate classes of people by how liquid and traceable their assets are, regardless of the amount.
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More than $10K and the bank will report is not similar to over $3K and you have to file paperwork in advance.
I’ve had dealings with the Spanish bureaucracy and the likelihood that the paperwork you file will be lost, misplaced or disappeared into the ether is quite high.
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“dealings with the Spanish bureaucracy and the likelihood that the paperwork you file”
I was under the impression, maybe mistaken that bribes were not a big part of Spanish culture… (at least not in comparison with a lot of Latin American countries or some others….). This law maybe seems like a way to try to introduce institutionalized bribery.
Neoliberalism has morphed into scamming as a way of life so smoothly that many failed to notice….
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SA had massive investments in Russia and China. People have pretty much ditched Russia at this point, which makes China the most important investment destination.
https://en.m.wikipedia.org/wiki/Prosus
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