Mexico to deter cartels…by making cash illegal?

Well, not exactly illegal….you just can’t use it to really buy anything. Why didn’t we think of that?

Mexico targets money-laundering with plan to limit cash transactions
Courtesy The Washington Post

“Legislation introduced by the Calderon administration would make it illegal to buy real estate in cash. The new laws would also limit the purchase of vehicles, boats, airplanes and luxury goods to 100,000 pesos in cash, or about $7,700. Violators could be sentenced to five to 15 years in prison.”

Got that? You cannot buy anything costing more than $8k with cash….would this complicate YOUR life?

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