French government tightening cash transaction controls

In first signs of currency crunch pre-shocks and associated government overreaches, here comes a headline from troubled Europe:

France Plans To Prohibit Cash Payments Over €1,000

France becomes the latest as Prime Minister Jean-Marc Ayrault plans to erect new controls on cash transactions in order to tighten up tax collection and meet the country’s optimistic budget deficit target of 3% of GDP. The government needs euros and they need some fast.

In the government plan labeled “Fight against fraud,” France’s fiscal residents would see the cash transaction limit decrease from €3,000 to €1,000 per purchase.

Uh-oh.

No, seriously this reads like a big warning. It calls for an even bigger increase of overly bloated and dysfunctional government bureaucracies. All the while absolutely no solution for the root cause of ailing currency crisis is even part of proposed remedy.

As ridiculous and "across-the-ocean" this may sound to American populace, it is in fact a strong warning of an impending tsunami on these shores. Such "tightening controls" are exactly what await here, as no real solution for deficit reduction has ever been discussed by US Congress and Executive Branch during the "debt ceiling" circus. The level of discussion during that circus was of the level of "whether to curtail proposed spending increases from 20% to 19%".

There are strong historical precedents for such dishonesty, for example in the collapse of the Roman Empire. This script has played out with an eerie familiarity before.