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2 years ago I sold several gas-powered toys in person, paid in cash, and I decided to take $10k in cash to the bank. The bank insisted that I explain how/why I was depositing so much cash. I was offended, they stated that they are obliged, by law, to record certain amounts.
About the same time, my coworker tried to buy a car, he had $50k in cash for the down payment (he was believing it would impress during negotiations) and the dealer wouldn't accept his cash (he ended up writing a check) because the dealership didn't want that much cash on premises.
It seems the "powers that be" would prefer we stick to EFT and move away from cash.
They did this in China, end result is that everyone's money is under constant scrutiny by the government, and they can even suspend your accounts for any reason to teach someone "a lesson"
About the same time, my coworker tried to buy a car, he had $50k in cash for the down payment (he was believing it would impress during negotiations) and the dealer wouldn't accept his cash (he ended up writing a check) because the dealership didn't want that much cash on premises.
It seems the "powers that be" would prefer we stick to EFT and move away from cash.
They did this in China, end result is that everyone's money is under constant scrutiny by the government, and they can even suspend your accounts for any reason to teach someone "a lesson"