Thursday, Jun 21, 2007
Lets change subject quickly!
BBC News: Bank acts on £5 note distribution
And your point being?
Posted by cheekie charlie @ 03:40 PM (150 views) Add Comment
20 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. sovietuk said...
"During his speech, Mr King also praised Chancellor Gordon Brown for his contribution to a "remarkable decade for the British economy".
2. dohousescrashinthewoods said...
Yes, does rather smack of "hey everybody, look over THERE!"
3. royston said...
Maybe the MPC thinks by giving everybody more fivers, they can afford big mortgages. I sorry to have to break this to you, guys - it doesn't quite work like that!
4. Orwell said...
The reason is simple: More £10 notes in circulation equates to more credit and more credit eqauls more profit for the banks!
Dooooh!
5. Richard Burton said...
More likely the inflation he has presided over means that fivers are pretty much worthless...
6. Matt said...
Remember devaluation..?
Something afoot here in the medium term.
7. denzil said...
What struck me as amazing was the report stating that the average withdrawal from a cash machine (I hate the term ATM)
is £100.
I guess I must be a simplistic Somerset bumpkin because I only draw a tenner at a time and with that I can get completely tw**ed on the local farmers scrumpy.
8. Afrobaggie said...
That's what stood out for me too Denzil! Who draws an average of £100? Twenty or thirty quid maybe...
9. paul said...
I'm with you there denzil. I wish I could get tw**ted on a tenner. That's what living "dahn saaf" does for you.
10. japanese uncle said...
"the average withdrawal from a cash machine (I hate the term ATM) is £100."
What percentage of such money is cashing thru credit card, rather than genuine withdrawal? That is the question.
11. Ah-so said...
Why do people need £100? A credit card and £50 should last you for ages.
I would like more fivers. I hate being given about 8 pound coins in change.
12. Northernlad said...
if you ask me the whole 'missing' fiver thing has been going on for years! Why is this just been reported now?
There's a conspiracy behind it.
13. mike said...
News posters need to learn to read..
http://www.housepricecrash.co.uk/newsblog/2007/06/blog-lets-print-some-money-4770.php
look familiar??
14. deepak said...
The idea is to slow inflation, lessern the flow of money in the economy.
So if you need a fiver, you take out a fiver.
But if you need a fiver and take out a 10 then you will end up spending it as well.
Hence more circulation of money and higher inflation.
Did you know that the person who installs and maintains the ATM gets commission on the money withdrawn from the ATM. Hence it is in the interest of the ATM owner to only put in higher denomination notes so that they make higher commission.
15. Neil9327 said...
I remember in the 1980's my father would always get £50 in fivers out of an old fashioned Lloyds bank cashpoint machine
That was in the days when a fiver was a proper bank note not the puny bookmark like strips that they are these days.
16. paul said...
Now that's an interesting take on the issue, deepak.
Of course, it won't work precisely because of that commission structure. Can you enlighten us any further deepak? This sounds very interesting ....
17. shipbuilder said...
I always take out about £100 from my local cash machine every once in a while and buy most stuff in cash. I hate the idea of my bank or anyone my bank sells the info to having a detailed account of both my movements and purchases. In addition, with a debit card it's too easy to 'fire and forget'. Call me old fashioned or a paranoid conspiracy theorist if you wish.
18. mrmickey said...
It all started going down the tubes when employers stopped paying their staff in cash. Now you must have a bank account to get paid, the bank can then screw you on charges encourage people in to debt slavery and generally shaft the general public. Also you can have your account drained by all and sundry at the press of a button if you have direct debits set up on the account.
19. denzil said...
shipbuilder you old fashioned paranoid conspiracy theorist ;-)
Got to admit I seldom draw out anything more than £20 from the cash machine because anything bigger than that gets put on my Amex Platinum which gives me a good cash back rate. Yes they can profile me but they also could realise that their cash back amount was what bought my new ipod. So as well as music I can look at my ipod knowing I did not pay for it which gives me huge satisfaction.
20. Osti said...
Ah, the student day long gone when withdrawing 10 or 20 pounds only. These days it is 100 or 200 pounds weekly. My the most trusted measure of inflation is how much escorts charge. In central london 10 years ago it was 60-90 hour. nowadays it is 150-200 /hour