OMG, less than a week before the general election on May 13, COMELEC released a resolution to prohibit depositors to withdraw 100,000 pesos (US$2,500), or its equivalent in any foreign currency from their bank deposits as well as to transport or possess more than 500,000 from May 8 (today) to May 13 (election day). Encashment of checks and conversion of any monetary instrument into cash exceeding 100,000 pesos are also prohibited. The poll body said the prohibition would cover banks, finance institutions, quasi-banks, pawnshops, remittance companies, and similar institutions. Exempted from the transportation of money will be farmers, merchants, and businessman traveling to and from Manila, and other business destinations “in their ordinary course of their business”. COMELEC will deputize Banko Sentral ng Pilipinas to implement the money ban.
The moment I read the news about the money ban, I have already thought that this is a crazy idea to stem the problem of vote buying and selling during a week before elections. COMELEC was naive enough to think that money alone is the source of evil of having mediocre but famous candidates to be elected to serve the constituents of a particular area. COMELEC never realized that during the final week before the election or during the election day itself, money transactions will be always ongoing because people paying goods, dues, and services at any amount does not recognize when to or not to pay, unless people stops paying for it, which is impossible as every transactions in daily lives have prices that needs to be paid.
I think COMELEC should be blamed, in case a patient dies due to an illness or an accident because loved ones cannot able to deposit money, let alone paying hospital bills that may worth 100,000 pesos or above.
This is an example of naive thinking that banning something to stem problems during elections or anything problems in our daily lives do assure an orderly society during a specific time. Generalizing things as a cause of societal problems is an insane thinking. Everyone else have different purpose to use something like money or guns, whether for good or bad, but addressing societal problems should not resort to condemn a particular thing as a cause of a problem, rather COMELEC and the government itself in general should address the root cause of vote buying that are the flawed personalistic political system and monopolistic economic system where voters especially in the lower class rely on politicians who are wealthy that could promise them a money during elections to alleviate their hunger in exchange of their votes.