More reasons why hard assets are becoming wealth:

War On Cash Intensifies: JPMorgan Chase To Prohibit The Storage Of Cash In Safety Deposit Boxes

April 22nd, 2015

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Some JPMorgan Chase customers are receiving letters informing them that the bank will no longer allow cash to be stored in safety deposit boxes.

The content of a post over on the Collectors Universe message board suggests that we may be about to see a resurgence of the old fashioned method of stuffing bank notes under the mattress.

More capital controls as France declares war… on cash

March 24, 2015

French paper Le Parisien didn’t mince words in the headline: “La chasse au cash est lancee”. Basically ‘hunting season on cash is launched’.

Under the auspices of fighting terrorism, France’s Minister of Finance, Monsieur Michel Sapin, has rolled out a series of eight new restrictions aimed specifically at minimizing the use of cash.

Among the new restrictions is a prohibition of making more than 1,000 euros in cash payments (down from 3,000 before).

Large cash withdrawls exceeding 10,000 euros per month will also now be monitored and reported to the French authorities.

HSBC imposes restrictions on large cash withdrawals

By Bob Howard Reporter, Money Box

• From the section Business

HSBC customers requiring large cash withdrawals may be asked what they want the money for

Some HSBC customers have been prevented from withdrawing large amounts of cash because they could not provide evidence of why they wanted it, the BBC has learnt. 

Feds Urge Banks to Call Cops on Customers Who Withdraw $5,000 or More

War on cash intensifies

Image Credits: Todd Kravos via Flickr.

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The Justice Department is ordering bank employees to consider calling the cops on customers who withdraw $5,000 dollars or more, a chilling example of how the war on cash is intensifying.

Louisiana Makes It Illegal To Use Cash To Buy Used Goods

 Louisiana businesses are suddenly discovering a new law that flew under the radar during the last legislative session:
Cold hard cash. It’s good everywhere you go, right? You can use it to pay for anything.
But that’s not the case here in Louisiana now. It’s a law that was passed during this year’s busy legislative session.
House bill 195 basically says those who buy and sell second hand goods cannot use cash to make those transactions, and it flew so far under the radar most businesses don’t even know about it.