ISRAEL MOVES CLOSER TO CASHLESS SOCIETY FOLLOWING LATEST LEGISLATION

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Israeli new shekels, reverse side, a business background

Assessment: Regardless of the excuses for going cashless, Israel and the world are preparing for the government Antichrist. When he comes he will have only 7 years to ‘devour and trample the earth’ (Daniel 9:23) …

A new Israeli law will go into effect on Monday prohibiting cash payments of over $1,760 (6,000 New Israeli Shekel NIS) in cash or bank checks for transactions between a person and a business. The ceiling for transfers between private individuals will be $4,400 (NIS 15,000) instead of the current amount, almost $14,700.

Since January 2019, Israeli businesses and consumers have been subject to limits on cash payments under the Law for the Reduction in the Use of Cash. Previously, the use of cash up to $3,200 could be used in business deals. The ceiling for car transfers will remain the same at nearly $14,700.

“He causes all, both small and great, rich and poor, free and slave, to receive a mark on their right hand or on their foreheads, and that no one may buy or sell except one who has the mark or the name of the beast, or the number of his name.” Rev. 13:16-17 

 

The reason behind the new law was explained by Tamar Bracha, who is in charge of executing the law on behalf of Israel’s Tax Authority, to The Media Line.

“We want the public to reduce the use of cash money,” Bracha said. “The goal is to reduce cash fluidity in the market, mainly because crime organizations tend to rely on cash. By limiting the use of it, criminal activity is much harder to carry out.

According to Globes, there will be a grace period of two years before the Tax Authority starts imposing fines on those who engage in cash deals of up to almost $2,500.

Read More @ Israel 365 News HERE

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