The trend towards using terrorism as the excuse to shutdown money and to monitor the general public continues. Authorities are looking closely at eliminating paper money altogether, which would have the benefit of preventing bank runs. This trend is being introduced in France come September, where it will become illegal to purchase anything with more than €1000. Also, the French lower house has taken a long stride towards mass surveillance, overwhelmingly approving a bill that could give authorities their most intrusive domestic spying abilities ever, with almost no judicial oversight.
This type of surveillance in France will be to carry out the bulk collection and analysis of metadata similar to that done by the NSA in the USA, which could not stop the Boston Bombings or the recent attack upon their own facility. They will also be able to request a right to put tiny microphones in rooms or on objects, such as cars and computers. They will also be able to place antennas to capture telephone conversations or mechanisms that capture text messages. Everyone is fair game to be tapped.
The real problem is the use of these laws to track money for taxes. As I reported, a staff member went to a meeting in Luxembourg taking the train from Zurich, which passed through France. The French Finance Police go on the train to look for anyone carrying cash, even if they are not stopping in France. This has nothing to do with terrorism – it has everything to do with just stealing money to prop up a failing government in the West.
