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TheCountOfNowhere

I'm regretting keeping all my cash in old fivers under the bed now

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An odd title for a thread, but a serious point.

You wake up one day and the rules have been changed, the establishment can choose to make all of thing X worthless while making thing Y priceless.

If you'd stuck all your money under the bed in £5 notes you might well be wondering why you did that.

What I am trying to say is....dont put all your eggs in one basket....I';d imagine the only basket most people have is a house.

 

 

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6 minutes ago, TheCountOfNowhere said:

What I am trying to say is....dont put all your eggs in one basket....I';d imagine the only basket most people have is a house.

 

 

EEK are you saying properdee is not a binary direction investment!

Be serious!

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7 minutes ago, GreenDevil said:

EEK are you saying properdee is not a binary direction investment!

Be serious!

Property isn't an investment at all, it's a shelter from the elements.

The rules making it an investment can be changed tomorrow, as they have for BTLers.  I do hope they've not put all their money in old fivers under their bed, too.

 

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6 minutes ago, interestrateripoff said:

Better off risking it with gold sovs. It would be much more difficult to make gold worthless.

Paper money is too easy to make worthless.

Might as well buy a house, you'll keep 50% of what you put into it...if you can work for 20-30 years to pay off the mortgages....which aint a given in the current environment.

Difficult times, difficult to know what to do and who to trust.

The politicians are lying, the bankers are lying, people are getting desperate, people are going to vote for the torys me thinks.  Looks like it will take the SNP to collapse things now....

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I expect alot of Indians lost out big when the Indian gov abolished the R500 note earlier this year. Imagine if the US tried a similar stunt with the USD...carnage.

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11 minutes ago, Wayward said:

I expect alot of Indians lost out big when the Indian gov abolished the R500 note earlier this year. Imagine if the US tried a similar stunt with the USD...carnage.

Easily done.

 

They British government did it with the £1 and the £5 and no one has twigged, £10s and £20s coming next I'd wager.

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How much longer will there still be fivers and other rounded note numbers that can still be stored under a bed or stored anywhere......only numbers on a screen....now you see it, then you don't.....no longer touchy feely?;)

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12 minutes ago, TheCountOfNowhere said:

Easily done.

 

They British government did it with the £1 and the £5 and no one has twigged, £10s and £20s coming next I'd wager.

Some time this year for the tens I believe. Might all be a problem for the reasons given, but on the other hand if they'd never done anything similar we'd have notes that anyone could run off loads of on a photocopier.

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5 minutes ago, winkie said:

How much longer will there still be fivers and other rounded note numbers that can still be stored under a bed or stored anywhere......only numbers on a screen....now you see it, then you don't.....no longer touchy feely?;)

Yeah, that'll be the last staw for me, gold gold gold.

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50 minutes ago, winkie said:

How much longer will there still be fivers and other rounded note numbers that can still be stored under a bed or stored anywhere......only numbers on a screen....now you see it, then you don't.....no longer touchy feely?;)

 

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1 hour ago, TheCountOfNowhere said:

Property isn't an investment at all, it's a shelter from the elements.

Yet all investments are property. 

Funny how we use words isn't it?  I'm sure it's all just a coincidence. 

Edited by DrBuyToLeech

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2 hours ago, TheCountOfNowhere said:

Easily done.

 

They British government did it with the £1 and the £5 and no one has twigged, £10s and £20s coming next I'd wager.

Twigged, how do you mean twigged?

There was massive publicity both times.

 

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2 hours ago, TheCountOfNowhere said:

Property isn't an investment at all, it's a shelter from the elements.

well it should only be shelter but tptb use it as the mechanism to keep us busy working and creating wealth for them...

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10 hours ago, TheCountOfNowhere said:

They British government did it with the £1 and the £5 and no one has twigged, £10s and £20s coming next I'd wager.

 

They've already done it once with the old £20 Elgar notes back in 2010.

 

My Mum had a couple of grand in emergency money in those old £20 notes and had a lot of hassle getting them banked. One bank flat refused to take them and another asked lots of questions about money laundering before eventually accepting them.

 

After that, I decided to stick to Sovs for my emergency hoard.

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The government could declare Britannias and Sovereigns no longer legal tender and or impose vat on sales. We don't have €500 nor R500 notes. Though they might create a small confiscation of value both those could continue to be traded on their physical value just not as easily. 

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4 minutes ago, Blod said:

The government could declare Britannias and Sovereigns no longer legal tender and or impose vat on sales. We don't have €500 nor R500 notes. Though they might create a small confiscation of value both those could continue to be traded on their physical value just not as easily. 

China tried and failed with declaring coins illegal tender.

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13 hours ago, TheCountOfNowhere said:

An odd title for a thread, but a serious point.

You wake up one day and the rules have been changed, the establishment can choose to make all of thing X worthless while making thing Y priceless.

If you'd stuck all your money under the bed in £5 notes you might well be wondering why you did that.

What I am trying to say is....dont put all your eggs in one basket....I';d imagine the only basket most people have is a house.

 

 

Funny you say that - an RAC bloke changed my front discs and pads at the side of the road after a break pad literally fell off.  Anyhow we got chatting and were talking about savings and pensions, he started on about how his sister was a hair dresser and had kept cash, mostly fivers since she started and it was basically her pension.  I did warn him at the time that new plastic notes were coming.

Remember unless they say otherwise, you can always change old money at the Bank of England even if it's not legal tender - I promise to pay the bearer on demand.  I've never tried nor do I know anyone who has.  It would be interesting to know what background checks they do when someone comes in with a briefcase full of 50's.

I do have some cash with cashier receipts when I took it out - nothing overly large but anything you can do to spread the weight of the change ahead will be important IMHO

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2 hours ago, Blod said:

The government could declare Britannias and Sovereigns no longer legal tender and or impose vat on sales. 

Just put them in your pocket and travel out of the country. You can hold £10,000 in each pocket with ease. A shoebox can hold £1million in gold +.

Edited by Errol

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8 minutes ago, Errol said:

Just put them in your pocket and travel out of the country. You can hold £10,000 in each pocket with ease. A shoebox can hold £1million in gold +.

If things get that bad that £10,000 in each pocket might turn into £100,000 by the time you arrive.

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16 hours ago, TheCountOfNowhere said:

An odd title for a thread, but a serious point.

You wake up one day and the rules have been changed, the establishment can choose to make all of thing X worthless while making thing Y priceless.

If you'd stuck all your money under the bed in £5 notes you might well be wondering why you did that.

What I am trying to say is....dont put all your eggs in one basket....I';d imagine the only basket most people have is a house.

 

 

You know you can just take all the old £5 notes to the bank and they will exchange them for you (give you new £5 notes)? That is what I did anyway.

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