No More Briefcases Full of Cash

"Mexico passes anti-laundering cash purchases ban":

"MEXICO CITY (AP) — Mexico's Senate passed a bill Thursday banning large cash transactions as part of an effort to fight money laundering that experts estimate may amount to around $10 billion per year in Mexico.

The bill forbids buyers and sellers from giving or accepting cash payments of over a half million pesos ($38,750) for real-estate purchases. It also forbids cash purchases of more than 200,000 pesos ($15,500) for automobiles or items like jewelry and lottery tickets.

The fact that the law took two years to move through Congress illustrates the sensitive nature of such rules in a society where small businesses and retailers, as well as gangsters, have long conducted many of their transactions in cash........

http://news.yahoo.com/mexico-passes-anti-laundering-cash-purchases-ban-235351226--finance.html

Well-----We will be getting screwed by the US and Mexico as far as what we will be able to do with our money. Go Figure!

CheenaGringo wrote:It also forbids cash purchases of more than 200,000 pesos ($15,500) for automobiles or items like jewelry and lottery tickets.

Blowing 200,000 pesos on lottery tickets in one pop is so common in Mexico it has to be addressed in a law?