Ah-so Posted June 4, 2016 Share Posted June 4, 2016 As I am neither a criminal or a builder, I do not need £50 notes. They are a hassle to use anyway. I accept that it might be useful to store a bit of cash at home in case of some banking upset - an IT collapse might be the most likely cause. But the amount I would have, I am unlikely to run out of room if it is in £20s as opposed to £50s. Quote Link to comment Share on other sites More sharing options...
South Lorne Posted June 4, 2016 Share Posted June 4, 2016 Good point, guess it depends on what you are buying. Anyway, I'm way ahead of you, as I do have a stockpile of £2s but the £10 and £5s I've spend down because of the new ones coming! Going to have to start spending the £20s soon. ...think a few flintstones and natural springs would be better than worthless pieces of paper when the need comes..... Quote Link to comment Share on other sites More sharing options...
Tapori Posted June 5, 2016 Share Posted June 5, 2016 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. I guess they'll always need cash for some things Quote Link to comment Share on other sites More sharing options...
justthisbloke Posted June 5, 2016 Share Posted June 5, 2016 I guess they'll always need cash for some things Which is why the powers that be want cash banned. It makes untaxed economic activity much more difficult. Of course, in reality, you'll end up with some sort of underground alternative currency. But the divide between the illicit economy and the approved economy will be much greater. Quote Link to comment Share on other sites More sharing options...
SpectrumFX Posted June 5, 2016 Share Posted June 5, 2016 Which is why the powers that be want cash banned. It makes untaxed economic activity much more difficult. Of course, in reality, you'll end up with some sort of underground alternative currency. But the divide between the illicit economy and the approved economy will be much greater. It's probably fair to say that the powers that be are over represented in their use of drugs and prostitutes compared to the general population. There'll always be some sort of mechanism left for illicit transactions off the radar. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted June 5, 2016 Share Posted June 5, 2016 As I am neither a criminal or a builder, I do not need £50 notes. They are a hassle to use anyway. I accept that it might be useful to store a bit of cash at home in case of some banking upset - an IT collapse might be the most likely cause. But the amount I would have, I am unlikely to run out of room if it is in £20s as opposed to £50s. You have fallen for the propaganda, hook, line and sinker and are even spreading the word. Quote Link to comment Share on other sites More sharing options...
SpectrumFX Posted June 5, 2016 Share Posted June 5, 2016 You have fallen for the propaganda, hook, line and sinker and are even spreading the word. If they started putting them in cash points as standard, then everybody would be using them without any quibbles in a matter of months. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted June 5, 2016 Share Posted June 5, 2016 If they started putting them in cash points as standard, then everybody would be using them without any quibbles in a matter of months. Indeed. Quote Link to comment Share on other sites More sharing options...
winkie Posted June 5, 2016 Share Posted June 5, 2016 At least with cash you are in control of it, if you waste or lose it that is down to you......technology you have no control over, may have 'money' but might not be able to touch, withdraw, spend or swap it.... Quote Link to comment Share on other sites More sharing options...
Arpeggio Posted June 5, 2016 Share Posted June 5, 2016 This thread led me to think that money is (supposed to be) a translation of value. The paper or coin itself is not worth much, but represents value. An electrician won't want to be paid in plumbing services if they do not need plumbing at the time, and vice versa. A gold coin on the other hand is worth in itself. Gold is on the up. I bought at the bottom. I've been screwed on another investment though. I'm no expert. There's a town in Cornwall called Totnes, with its own currency. Go Totnes! Quote Link to comment Share on other sites More sharing options...
bristolhunter Posted June 5, 2016 Share Posted June 5, 2016 This thread led me to think that money is (supposed to be) a translation of value. The paper or coin itself is not worth much, but represents value. An electrician won't want to be paid in plumbing services if they do not need plumbing at the time, and vice versa. A gold coin on the other hand is worth in itself. Gold is on the up. I bought at the bottom. I've been screwed on another investment though. I'm no expert. There's a town in Cornwall called Totnes, with its own currency. Go Totnes! Gold merely represents value, the same as a coin or a note. If a person isn't willing to accept it, if it's worthless to them, it's of no more use than a coin or a note. Plumbing services, or bricks, or tools, or food, have intrinsic value because they 'do' something. Gold merely sits there as a representation of value. Totnes is in Devon. Bristol (Bristol) and Brixton (London) also have their 'own' pounds. They're pegged at 1:1 with Sterling, and can only be spent at some businesses in the local area. Quote Link to comment Share on other sites More sharing options...
evetsm Posted June 5, 2016 Share Posted June 5, 2016 (edited) 02 Gold merely represents value, the same as a coin or a note. If a person isn't willing to accept it, if it's worthless to them, it's of no more use than a coin or a note. Plumbing services, or bricks, or tools, or food, have intrinsic value because they 'do' something. Gold merely sits there as a representation of value. 02 Totnes is in Devon. Bristol (Bristol) and Brixton (London) also have their 'own' pounds. They're pegged at 1:1 with Sterling, and can only be spent at some businesses in the local area. gold is the most liquid commodity. it has constant marginal utility. because gold has more properties required of money than any other commodity. gold is portable, durable, fungible, divisible, non counterfeitable, not common like sand, not consumed by industry, desirable. more than any other commodity. list them and see for yourself. try carrying oil in your pocket in meaningful denominations. diamonds are not fungible, not readily divisible. platinum is all consumed by industry. tulips are not durable. salt is ubiquitous. paper is counterfeitable. etc etc. gold is money. bitcoins may be even better money. we shall see. Edited June 5, 2016 by evetsm Quote Link to comment Share on other sites More sharing options...
bristolhunter Posted June 5, 2016 Share Posted June 5, 2016 Yes, I'm aware why it's used as money. But that's merely a list of why it's used as money, not a demonstration that it has worth in itself. It's a good natural coin, not something of use (unless you're particularly into bling). Quote Link to comment Share on other sites More sharing options...
Tapori Posted June 5, 2016 Share Posted June 5, 2016 Interestingly BitCoin has doubled in value from last year. Also, remember that Cash Rules Everything Around Me - CREAM, get the money, dollar dollar bill y'all. : That'ts why they don't like it for the reasons raised in this thread. Digitisation leads to greater scrutiny from banks and prying by the Intelligence services and HMRC, and it's why they hate anonymous BitCoin style currency's. But cash will always be around because elites need to buy things off the radar sometimes. I will miss the 50. Someone will start a petition. Quote Link to comment Share on other sites More sharing options...
Rigged Posted June 5, 2016 Share Posted June 5, 2016 I can see people no longer wanting to work cash in hand if they have to get 5 20s as opposed to 2 50s. Game set and match the government. Quote Link to comment Share on other sites More sharing options...
evetsm Posted June 5, 2016 Share Posted June 5, 2016 [quote name="bristolhunter" post="1102951144" time you admit that it's money and then you say it has no worth!? it's worth is as money! people are willing to demand a commodity that makes great money. Intrinsic value is the most misunderstood principle in economics IMO. if people demand something it has intrinsic value. value is only determined if someone is willing to demand it. the intrinsic value of gold is for it's money properties. Quote Link to comment Share on other sites More sharing options...
Bora Horza Posted June 5, 2016 Share Posted June 5, 2016 I can see people no longer wanting to work cash in hand if they have to get 5 20s as opposed to 2 50s. Game set and match the government. That's short-term thinking. Once the £50 is gone, it softens people up to the eventual removal of the £20 note and so on. Quote Link to comment Share on other sites More sharing options...
Inoperational Bumblebee Posted June 5, 2016 Share Posted June 5, 2016 You'd think they'd remove the smaller denominations first. We've still got a one pence piece; what use are they apart from filling up a jar in the spare room? Quote Link to comment Share on other sites More sharing options...
Rigged Posted June 5, 2016 Share Posted June 5, 2016 That's short-term thinking. Once the £50 is gone, it softens people up to the eventual removal of the £20 note and so on. See what you're getting at but no one used 50s for day to day usage anyway. Only time i use them is to take on holiday so my wallet isn't overflowing. Quote Link to comment Share on other sites More sharing options...
Rigged Posted June 5, 2016 Share Posted June 5, 2016 You'd think they'd remove the smaller denominations first. We've still got a one pence piece; what use are they apart from filling up a jar in the spare room? They were good for weighing 1/8 of solid back in the day. Quote Link to comment Share on other sites More sharing options...
Arpeggio Posted June 5, 2016 Share Posted June 5, 2016 Gold merely represents value, the same as a coin or a note. If a person isn't willing to accept it, if it's worthless to them, it's of no more use than a coin or a note. Plumbing services, or bricks, or tools, or food, have intrinsic value because they 'do' something. Gold merely sits there as a representation of value. Totnes is in Devon. Bristol (Bristol) and Brixton (London) also have their 'own' pounds. They're pegged at 1:1 with Sterling, and can only be spent at some businesses in the local area. Of course I agree that plumbing etc has value and would hope to not give any impression I was saying otherwise! I just meant that a plumber could use money to pay an electrician who doesn't happen to need any plumbing done at that time. Quote Link to comment Share on other sites More sharing options...
bristolhunter Posted June 5, 2016 Share Posted June 5, 2016 [quote name="bristolhunter" post="1102951144" time you admit that it's money and then you say it has no worth!? it's worth is as money! people are willing to demand a commodity that makes great money. Intrinsic value is the most misunderstood principle in economics IMO. if people demand something it has intrinsic value. value is only determined if someone is willing to demand it. the intrinsic value of gold is for it's money properties. Your error is in ascribing it properties beyond that of money. The paranoid loons buy gold because they think in societal breakdown, it will allow them to preserve purchasing power. If the £2 coin in your pocket won't buy you food, the stash of bullion in your vault probably won't either. I'm not going to be wandering around post-collapse saying "well, I'll take that random hunk of metal as a store of value in exchange for goods and services, but formal currency designed for that purpose? Pish off". Quote Link to comment Share on other sites More sharing options...
bristolhunter Posted June 5, 2016 Share Posted June 5, 2016 That's short-term thinking. Once the £50 is gone, it softens people up to the eventual removal of the £20 note and so on. Hardly. The £20 is in regular daily use. The £50 isn't. Quote Link to comment Share on other sites More sharing options...
Bora Horza Posted June 5, 2016 Share Posted June 5, 2016 Hardly. The £20 is in regular daily use. The £50 isn't. Depends on what you think the endgame is: 1. The £50 note isn't used and therefore is superfluous. 2. This is the first step in abolishing physical cash, enabling the introduction of negative interest rates/more interference from the Government. The 1st I have no problem with, the 2nd I find rather alarming. Quote Link to comment Share on other sites More sharing options...
SpectrumFX Posted June 5, 2016 Share Posted June 5, 2016 This thread led me to think that money is (supposed to be) a translation of value. The paper or coin itself is not worth much, but represents value. An electrician won't want to be paid in plumbing services if they do not need plumbing at the time, and vice versa. A gold coin on the other hand is worth in itself. Gold is on the up. I bought at the bottom. I've been screwed on another investment though. I'm no expert. There's a town in Cornwall called Totnes, with its own currency. Go Totnes! I'm under the impression that "job for a job" is actually very common. If no money changes hands and it's just friends doing favours for each other, then there's no tax paid. Quote Link to comment Share on other sites More sharing options...
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