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 Cash Transactions Banned by Louisiana

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PostSubject: Cash Transactions Banned by Louisiana   Sat Oct 15, 2011 9:12 pm

Louisiana Law Firm wrote:
Anyone, other than a non-profit entity, who buys, sells, trades in or otherwise acquires or disposes of junk or used or secondhand property more frequently than once per month from any other person, other than a non-profit entity, shall be deemed as being in the business of a secondhand dealer. ” The law then states that “A secondhand dealer shall not enter into any cash transactions in payment for the purchase of junk or used or secondhand property. Payment shall be made in the form of check, electronic transfers, or money order issued to the seller of the junk or used or secondhand property…

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FleurDeLis
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PostSubject: Re: Cash Transactions Banned by Louisiana   Sat Oct 15, 2011 9:15 pm

Why is that?
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PostSubject: Re: Cash Transactions Banned by Louisiana   Sat Oct 15, 2011 9:31 pm

FleurDeLis wrote:
Why is that?

Why are they doing it? Apparently it is so it will be easier for police to keep track of stolen goods. If they catch someone breaking this law, they can slap a fine on the individual or business. In that aspect, it is a way to bring in revenue to the state. Naturally, by making those transactions electronic, it allows them to keep track of almost everything someone owns.

A side effect of that law, in its entire stupidity, it gives incentive to use silver and gold coins.

Frankly, I don't see how it is legal because what it does is makes U.S. currency invalid in certain aspects of commerce. Likewise, depending on how the concept unfolds, it could condition people for a transition to a completely digital currency.

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PostSubject: Re: Cash Transactions Banned by Louisiana   Sat Oct 15, 2011 10:03 pm

This is ridiculous ... I mean I get the tracking of stolen goods is somewhat needed but how much control do they want to impose? Most second-hand items are not high-end and the people who buy them often don't have bank accounts, much less credit cards. And it does invalidate regular currency ... that will pinch the market in the butt.
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PostSubject: Re: Cash Transactions Banned by Louisiana   Sun Oct 16, 2011 8:47 pm

I dunno, my note has something printed on it that says:

"This note is legal tender for ALL debts, public and private."

I'm sure the federal government may have something to say about this state law.
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