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Uncle_Kenny

£50 Notes To Be Taken Out Of Circulation

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Big story which has been picked up by the telegraph with little fanfare. The new issue of bank notes will not include the fifty.

http://www.telegraph.co.uk/news/2016/06/02/plastic-5-notes-featuring-sir-winston-churchill-that-are-unteara/

In my opinion this is massive. Continuing a trend to undermine cash, people's financial privacy and further entrench low/negative interest rates.

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I haven't used a £50 note for years, but was expecting them to come into more common use with inflation.

Do you use £50's much? Does anybody here? And if so what for?

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Big story which has been picked up by the telegraph with little fanfare. The new issue of bank notes will not include the fifty.

http://www.telegraph.co.uk/news/2016/06/02/plastic-5-notes-featuring-sir-winston-churchill-that-are-unteara/

In my opinion this is massive. Continuing a trend to undermine cash, people's financial privacy and further entrench low/negative interest rates.

Yes , there does seem to be a growing desire among the political class to ban cash.

http://www.zerohedge.com/news/2016-02-03/germany-unveils-cash-controls-push-ban-transactions-over-%E2%82%AC5000-%E2%82%AC500-euro-note

Presumably they are all to aware of the ultimate effect of all this money printing and are hoping to have banned cash by the time we need wheelbarrows full of it to buy a loaf of bread.

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I haven't used a £50 note for years, but was expecting them to come into more common use with inflation.

Do you use £50's much? Does anybody here? And if so what for?

I've paid for many things with £50s - from cars and hotels to school fees. But also, just for a day to day shopping or a tank of petrol. When I was car-free, card-free, and doing a lot of travelling, I used £50s a lot.

I've also used them as an alternative to keeping money in banks. Which I continue to do.

I suppose in future, I'll have a more bulging wallet for shopping and be using bitcoin for stored value.

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I haven't used a £50 note for years, but was expecting them to come into more common use with inflation.

Do you use £50's much? Does anybody here? And if so what for?

Money, its really cheap, until you need to earn it.

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Do they have 50 notes?

50s, 100s, 200s and 500s.

Although they started moaning that the larger denoms were being used nefariously

https://www.theguardian.com/business/2016/feb/12/eu-finance-ministers-call-for-restrictions-on-500-euro-note-crime

Vote brexit to retain control of our money! Oh wait... :lol:

Cheap shot I know, sorry.

Edited by 24 year mortgage 8itch

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Cash for little things, the electronic or rather credit for big and questions for paying in collections of notes at the bank.

Big brother has a threshold under which he is not interested and the banks would love to skim more transactions, however small they are.

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....well known they want to eventually do away with cash.....said this ten years ago.....drip, drip.......we know what you're doing. ;)

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The new fivers are smaller and remind me of Disney dollars. The see though plastic is a bit of a fad so I would expect fthem to be spent a little more quickly than they are now.

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Big story which has been picked up by the telegraph with little fanfare. The new issue of bank notes will not include the fifty.

http://www.telegraph.co.uk/news/2016/06/02/plastic-5-notes-featuring-sir-winston-churchill-that-are-unteara/

In my opinion this is massive. Continuing a trend to undermine cash, people's financial privacy and further entrench low/negative interest rates.

Well, we can't be making it easy for people to hold large amounts of their wealth as cash outside the banking system and with no oversight or control from the proper authorities now, can we?

Just make sure that the general population has little option but to hold their wealth exclusively as bank credit then get on with negative interest rates and freezing the assets of anyone who makes trouble. Banksters happier and richer, the government happier and more powerful, the population less free than ever (a constant trend over the last few decades).

Edited by Sour Mash

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When £50 notes came into circulation you would see many of them about, now very rarely see them, maybe they reduced the print run?.....what is more noticeable is the time a certain design of note stays in circulation, very regularly change the design....could it be they do not want people hoarding?.....hoarding is something more will likely to do when interest rates are almost zero....... ;)

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This is a nasty development. I use £50s the whole time - have 7 in my wallet currently.

Of course, removal of the £50 won't stop people from keeping cash outside banks. You'll just need a bigger briefcase or holder, that's all.

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This will be a problem for all the black market dodgy builders out there who are paid in cash. A home owners turning up with to pay the Polish builders £3k bill in tenners is a bit of a pain.

I hope Scotland keeps its £100 notes. I try and stock up when I go there (also stock up on the plastic £5s. Everyone I give them to in Engerland tells me they are going to keep them/put them on their wall)

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Never liked the £50 notes pain in the ass to spend most of the time you're standing there whilst the person at the till does 1001 checks to confirm its real, or calls the manager to check it maybe that's just me

but whilst in europe had no issue with spending €50 or €100 notes

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There is a big difference between real cash money, the stuff you can hold in your hands that say the words 'promise to pay the bearer on demand' to on screen digital money......I am sure there are people on here that can explain the difference. ;)

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50s, 100s, 200s and 500s.

Although they started moaning that the larger denoms were being used nefariously

https://www.theguardian.com/business/2016/feb/12/eu-finance-ministers-call-for-restrictions-on-500-euro-note-crime

Vote brexit to retain control of our money! Oh wait... :lol:

Cheap shot I know, sorry.

Vote remain and you'll be using euros anyway

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There is a big difference between real cash money, the stuff you can hold in your hands that say the words 'promise to pay the bearer on demand' to on screen digital money......I am sure there are people on here that can explain the difference. ;)

Isn't paper money "pretend" also....

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It's a non-story. The bank's position hasn't changed -they haven't made a decision yet because they only bought out a new £50 recently. The Telegraph is going down hill.

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This is a nasty development. I use £50s the whole time - have 7 in my wallet currently.

Of course, removal of the £50 won't stop people from keeping cash outside banks. You'll just need a bigger briefcase or holder, that's all.

why would anyone want to keep an inflating piece of paper under their mattress, which could be outlawed by decree at any moment?

get some bitcoins or gold and then you have some real money.

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The admission comes after months of speculation about the note's future, following calls from leading bank bosses and financial experts to scrap it.

They're not desperate again to keep the plates spinning by flushing out cash savings from the system AGAIN, are they?

Also suits the long term goal of totally stuffing any chance of independence from bank money in the form of electronic currency and the ability of banks to charge for deposits on accounts rather than give interest.

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It's a non-story. The bank's position hasn't changed -they haven't made a decision yet because they only bought out a new £50 recently. The Telegraph is going down hill.

the bank's position has changed, they are stopping the 50s. That's a huge story, given they have also talked about eliminating cash.

where have you been?

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