500 Euro notes are called Bin Ladens in Spain

Interesting editorial.

http://www.typicallyspanish.com/news...cle_4702.shtml

stonej wrote:

Interesting editorial.

http://www.typicallyspanish.com/news...cle_4702.shtml

The nickname "Bin Laden" for those notes is funny. :-) Apart from that,
this kind of money laundering seems to be a big problem in Spain indeed,
particularly with real estate transactions.

Don't know if Spain has already put the EU directive 2005/60/EC
regarding money laundering into national law; judging from the article
you posted, they may have done that just now. According to that
directive, any payment of more than ¤15,000 (cash or not, in one or more
transactions) is not "anonymous".

Christian

(from the article)
"My bank manager today offered me a 12 ¤ coin. I thought he was joking,
but it seems that a special coin has been minted with Christopher
Columbus as its head. Now that DNA has confirmed the explorer¹s bones
are indeed in Seville cathedral, it seems that everything in Spain is
finally being put in its place."

So if the ¤500 is a "Bin Laden", will the ¤12 be a "colon"?

In article .com,
stonej wrote:

http://www.typicallyspanish.com/news...cle_4702.shtml

At my favorite Bank of America in Long Beach CA, the vault teller was processing a ¤500
note exchange as she was getting ready to get my Golden Dollars and Twos.

I would like a strap of those.....


http://search.ebay.com/_W0QQfgtpZ1QQ...shreadv ector
--
"""Remove "zorch" from address (2 places) to reply.
http://www.sirius.com/


"Christian Feldhaus" wrote in message
...
stonej wrote:

Interesting editorial.

http://www.typicallyspanish.com/news...cle_4702.shtml

The nickname "Bin Laden" for those notes is funny. :-) Apart from that,
this kind of money laundering seems to be a big problem in Spain indeed,
particularly with real estate transactions.

Don't know if Spain has already put the EU directive 2005/60/EC
regarding money laundering into national law; judging from the article
you posted, they may have done that just now. According to that
directive, any payment of more than ¤15,000 (cash or not, in one or more
transactions) is not "anonymous".

Christian

In article Slime Lowlife writes:
(from the article)
"My bank manager today offered me a 12 ¤ coin. I thought he was joking,
but it seems that a special coin has been minted with Christopher
Columbus as its head. Now that DNA has confirmed the explorer¹s bones
are indeed in Seville cathedral, it seems that everything in Spain is
finally being put in its place."

So if the ¤500 is a "Bin Laden", will the ¤12 be a "colon"?

There is a difference. You may spend that EUR 500 note everywhere in the
EU, you would have a problem with that EUR 12 coin. If they accept it
they will use it as if it is EUR 12 only, and you will have been ripped
off (because you probably payed much more for it).
--
dik t. winter, cwi, kruislaan 413, 1098 sj amsterdam, nederland, +31205924131
home: bovenover 215, 1025 jn amsterdam, nederland; http://www.cwi.nl/~dik/

Dik T. Winter wrote:

If they accept it they will use it as if it is EUR 12 only

Actually the Spanish ¤12 coins can be obtained at face value. (The other
Spanish collector coins, ¤10, ¤50, etc., are proof-only issues and
cannot be had at face.)

But unlike the "real" euro coins, ie. circulation pieces and ¤2 commems,
all those collector coins are legal tender in the issuing member state
only. Kind of defeats the purpose of a common currency, but then again
such coins are hardly ever found in circulation anyway.

Christian

? "Christian Feldhaus" ?????? ??? ??????
...
stonej wrote:

Interesting editorial.

http://www.typicallyspanish.com/news...cle_4702.shtml


The nickname "Bin Laden" for those notes is funny. :-) Apart from that,
this kind of money laundering seems to be a big problem in Spain indeed,
particularly with real estate transactions.

Don't know if Spain has already put the EU directive 2005/60/EC
regarding money laundering into national law; judging from the article
you posted, they may have done that just now. According to that
directive, any payment of more than ¤15,000 (cash or not, in one or more
transactions) is not "anonymous".

I don't know if this is indeed a 2005 directive but here in Greece I
remember that even at the time of the national currency (that's pre-2002) if
I wanted to make a deposit of more than 4.000.000 drh (=11,739 euros) I had
to present my ID and my data were recorded on the deposition slip. Maybe
this is one of those (rare) cases where the national law was faster than the
EU directives:-)

--

E' mai possibile, oh porco di un cane, che le avventure
in codesto reame debban risolversi tutte con grandi
puttane! F.d.A

Coins, travels and mo http://pg.photos.yahoo.com/ph/golanule/my_photos
http://gogu.enosi.org/index.html

Christian

In article writes:
Dik T. Winter wrote:

If they accept it they will use it as if it is EUR 12 only

Actually the Spanish ¤12 coins can be obtained at face value.

Well, I did not know that. Ready for my list of most-wanted coins?
No. Only when I find one in circulation...

But unlike the "real" euro coins, ie. circulation pieces and ¤2 commems,
all those collector coins are legal tender in the issuing member state
only. Kind of defeats the purpose of a common currency, but then again
such coins are hardly ever found in circulation anyway.

Sometimes you will find them. That is how I obtained the Dutch silver
10 gulden coins. But defeating indeed. Much more defeating is it that
every country is allowed to issue EUR 2 commems each year. I already
have 28 different EUR 2 coins. Within a few years there will be 23
EUR 2 commems each year... Germany has now gone to an issue of state
EUR 2 pieces. I could suggest a good plan for France with its 90+
departements. The difference with the US is of course that the US
needs only ten years with five issues each year. Germany already needs
sixteen years to complete the program. France would have a good 90
years to go.

I think the EUR 2 commem program has gotten out of hand. The Olympic Games
coins from Greece and Italy were (in my opinion) a good idea, really
international affairs. Germany could have done similar with the WC
football. But with the Finnish EU-enlargement issue it did go wrong already.
Much better would have been a commem issued by *all* countries for that
occasion (a truely European coin). There are many more coins that could
have been better issued as either a coin from all countries, or as a barely
circulating coin (of another denomination) from a single country.
--
dik t. winter, cwi, kruislaan 413, 1098 sj amsterdam, nederland, +31205924131
home: bovenover 215, 1025 jn amsterdam, nederland; http://www.cwi.nl/~dik/

Hi all.

The problem in spain is the underground economy. Every quarter, the
companies should make a declaration of the invoices issued to customer worth
of more of 3.000 euros.

Many payments (mainly real estate) have two pays: one, according with the
invoice, and another one without invoice. I can buy many things without
taxes, so the 500 euros notes are the best way to skip taxes.

A brief example: Let imagine that I want to buy an apartment. I'd checked an
apartment near my apartment, two blocks away:
http://www.fotocasa.es/detalle/detal...eble=114528355

458.000 euros, I'm sure I'll pay less than 300.000 euros for taxing
purposes, and the rest in 500 euros notes skipping the law!!!!

Don't get surprised, th ereal state in spain is very expensive. My parents
have an apartment (140 m2) worth of 1 million euros in the downtown of
Madrid!


"gogu" escribió en el mensaje
...
? "Christian Feldhaus" ?????? ??? ??????
...
stonej wrote:

Interesting editorial.

http://www.typicallyspanish.com/news...cle_4702.shtml


The nickname "Bin Laden" for those notes is funny. :-) Apart from that,
this kind of money laundering seems to be a big problem in Spain indeed,
particularly with real estate transactions.

Don't know if Spain has already put the EU directive 2005/60/EC
regarding money laundering into national law; judging from the article
you posted, they may have done that just now. According to that
directive, any payment of more than ¤15,000 (cash or not, in one or more
transactions) is not "anonymous".

I don't know if this is indeed a 2005 directive but here in Greece I
remember that even at the time of the national currency (that's pre-2002)
if
I wanted to make a deposit of more than 4.000.000 drh (=11,739 euros) I
had
to present my ID and my data were recorded on the deposition slip. Maybe
this is one of those (rare) cases where the national law was faster than
the
EU directives:-)

--

E' mai possibile, oh porco di un cane, che le avventure
in codesto reame debban risolversi tutte con grandi
puttane! F.d.A

Coins, travels and mo http://pg.photos.yahoo.com/ph/golanule/my_photos
http://gogu.enosi.org/index.html

Christian

In article , Dik T. Winter wrote:

In article Slime Lowlife
writes:
(from the article)
"My bank manager today offered me a 12 ¤ coin. I thought he was joking,
but it seems that a special coin has been minted with Christopher
Columbus as its head. Now that DNA has confirmed the explorer¹s bones
are indeed in Seville cathedral, it seems that everything in Spain is
finally being put in its place."

So if the ¤500 is a "Bin Laden", will the ¤12 be a "colon"?

There is a difference. You may spend that EUR 500 note everywhere in the
EU, you would have a problem with that EUR 12 coin. If they accept it
they will use it as if it is EUR 12 only, and you will have been ripped
off (because you probably payed much more for it).

Ah, this was actually a pun. The monetary unit of Costa Rica is the
colon, & I think some other Latin American countries (El Salvador?)
used to call their currencies by the same name. Named after
Christopher Columbus as well. So, when I saw the news of Spain issuing
a brand-new coin, in an odd denomination, honoring the sailor, I
thought that this might make for a new denomination: ¤12 = 1 colon.