Hitchens On Polymer Bank Notes

[pjw]

http://hitchensblog.mailonsunday.co.uk/

So we are to get horrible slithery plastic banknotes. I’ve used them in Australia and I can tell you, you won’t like them.

This is to stop them wearing out so fast. I don’t mind the tatty notes. I mind the way they lose their value so quickly. If they could find a way to stop that, I’d be keen

Yup - it's the value that wears out, owing to monetary shenanigans - much faster than the paper itself wears out.

[Eddie_George]

http://hitchensblog.mailonsunday.co.uk/

Yup - it's the value that wears out, owing to monetary shenanigans - much faster than the paper itself wears out.

I've used them in Australia, they're not so bad. Why is everyone getting worked up about this? There are far more important things for journalists to investigate in this corrupt isle.

[StainlessSteelCat]

Why is everyone getting worked up about this? There are far more important things for journalists to investigate in this corrupt isle.

Which is why we are being told to be worked up about it.

If they introduced them tomorrow without prior announcement I suspect many wouldn't even notice.

[campervanman]

I thoughtthe Australian plastic notes were a pretty good reflection of Australian society. Shiny and glossy on the surface but lacking substance and a bit tacky. They should go down well in the UK.

[SleepyHead]

I mind the way they lose their value so quickly. If they could find a way to stop that, I’d be keen.

That's the cause of most of the ills our society faces. But it's not ignorance of inflation that causes it, it's greed and corruption by the people in charge of this country.

[winkie]

.....cash costs....therefore they may start charging 5p to use it?

[Alba]

.....cash costs....therefore they may start charging 5p to use it?

No..............it costs to dispose of anything plastic, so there will be a 5p charge at check out!!!

[winkie]

No..............it costs to dispose of anything plastic, so there will be a 5p charge at check out!!!

Awah....that will be 10p ....5p for the bag and 5p to pay with cash......

Edited September 15, 2013 by winkie

[Guest TheBlueCat]

I've used them in Australia, they're not so bad. Why is everyone getting worked up about this? There are far more important things for journalists to investigate in this corrupt isle.

Agreed, we have them in Canada too and they're fine. It even saved me some money when I accidentally machine washed a few - they came out entirely unscathed unlike the paper ones which would have been ruined I expect.

[wonderpup]

Any truth to the rumor that the new plastic notes have those changeable digital numbers on allowing extra zeros to be added to the currency from a control panel in Carney's office?

So at the press of a button your 50 quid note becomes a 500 quid note?

[Executive Sadman]

In another article the lib dems bemoan how the NMW is worth less now than in 2006, and blame it on companies.

W

T

F

How is it companies fault they and the BoE have decided do debase the currency so that in 2009 a litre of unleaded fell to 80p and today its 140p?

They dont call it the inflation tax for no reason. Hits the poor most too. Nice one Clegg.

[Executive Sadman]

I've used them in Australia, they're not so bad. Why is everyone getting worked up about this? There are far more important things for journalists to investigate in this corrupt isle.

If its such a non-issue, forget journalists, why are politicians bothering about it?

How many complaints do you think your MP has had about the 'paper construction of banknotes'?

Why arent they spending their time on issues people actually care about.

If ever politicians do something that isnt vigorously publicly lobbied, you can bet there is some kind of nefarious issue behind it. Maybe Gidiot has shares in the producer of these abominations.

[Habeas Domus]

Polymer banknotes cost 50% more to produce, but because they last longer plastic works out 25% cheaper, but this only works if inflation stays low enough that they don't need to print larger denomination notes during the 10 year lifetime of the plastic - the Zimbabwe billion dollar notes were all printed on paper.

[Eddie_George]

Polymer banknotes cost 50% more to produce, but because they last longer plastic works out 25% cheaper, but this only works if inflation stays low enough that they don't need to print larger denomination notes during the 10 year lifetime of the plastic - the Zimbabwe billion dollar notes were all printed on paper.

It's okay, if we do go hyperinflationary, just print (or would it be mould) more money to pay for the extra printing. Jobsagoodun.