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Bank of England loses track of £50bn of banknotes


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Perhaps a hunt down the back of the nations sofa's could save us. Seriously this is a lot of cash and it has shot up this year, under people's mattresses?

https://www.theguardian.com/business/2020/dec/04/bank-of-england-criticised-for-losing-track-of-50bn-of-banknotes

Edited by debtlessmanc
wrong title!
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  • debtlessmanc changed the title to Bank of England loses track of £50bn of banknotes
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A very weird article. Why in fuk should the bank be able to trace where people are spending their own goddamn money? It is none of the government's business.

If you think we are sleepwalking into 1984, you are very wrong. We have been there for years and these McLeftist subhumans love it.

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At least someone has some backbone

"A spokesman for the Bank said: “It is the responsibility of the Bank of England to meet public demand for banknotes. The Bank has always met that demand and will continue to do so. Members of the public do not have to explain to the Bank why they wish to hold banknotes. This means that banknotes are not missing.”"

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A very weird article. Why in fuk should the bank be able to trace where people are spending their own goddamn money? It is none of the government's business.

If you think we are sleepwalking into 1984, you are very wrong. We have been there for years and these McLeftist subhumans love it.

Fraud and counterfeiting is an obvious concern.

As for 1984? The door's wide open but you'll never leave!

 

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Their money to do as they will, nobody had said all types of money should be stored in a bank or similar......promise to pay the bearer on demand, more than can be said for many other storage places.......why are the money printers all of a sudden so concerned?;)

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I didn't realise the BoE even tried to keep track of cash that was issued!  How can they?!  The surprise to me isn't that they have "lost" most of it but that they think they know where the rest is.  Unless it's in a bank regulated by the BoE how would they know....?

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Interest rates from cash in the bank is zero, lots of people working from home during the day so risk of being burgled massively reduced. We are living in uncertain times and banks can’t be relied upon 100% of the time, why not have a months expenditure at home in cash, provided you have it?

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I didn't realise the BoE even tried to keep track of cash that was issued!  How can they?!  The surprise to me isn't that they have "lost" most of it but that they think they know where the rest is.  Unless it's in a bank regulated by the BoE how would they know....?

One would hope they know how many banknotes they are printing. Each has a serial number.

It's not like they are churning this stuff out willy nilly and dumping it wherever they can.

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At least someone has some backbone

"A spokesman for the Bank said: “It is the responsibility of the Bank of England to meet public demand for banknotes. The Bank has always met that demand and will continue to do so. Members of the public do not have to explain to the Bank why they wish to hold banknotes. This means that banknotes are not missing.”"

 One the radio a guy said on average it's only £100 per person. Bugger all. 

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 One the radio a guy said on average it's only £100 per person. Bugger all. 

Well the population of the UK is 60 million odd.

And they said that there is 50 billion missing.

So in my rough maths that makes it more like about £1000 per person, provided "per person =population of the UK" which is what you might reasonably expect.

Still, its not huge. Let's hope you guy wasn't the one in charge of maths at the BOE.

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Interest rates from cash in the bank is zero, lots of people working from home during the day so risk of being burgled massively reduced. We are living in uncertain times and banks can’t be relied upon 100% of the time, why not have a months expenditure at home in cash, provided you have it?

Why not indeed.....nothing to lose, not as if will earn any interest on it in a bank, banks might even start charging a fee for looking after it?.......cash is has always been legal tender afaia.

Most people are not into money laundering, are tax evaders, or into drugs or the like......they are just living, working and spending the money they earn in the way they have always done......... Tptb now want to take the few choices have always had away, so that some can capitalise from it.......nobody asked that cash be replaced with numbers on a screen or digital currency...that has no stability and no guarantee, price only dependant on trust and uptake.....;)

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There is always a queue for the self - service checkout at my local Morrisons. Not because there are no available machines, but because 60-70% are 'Card Only'. It's quite an absurd sight for a long queue to available checkout machines, and it always amazed me how many people still only used physical cash with either no credit/debit card or a preference to use physical cash even if it means queuing. 

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There is always a queue for the self - service checkout at my local Morrisons. Not because there are no available machines, but because 60-70% are 'Card Only'. It's quite an absurd sight for a long queue to available checkout machines, and it always amazed me how many people still only used physical cash with either no credit/debit card or a preference to use physical cash even if it means queuing. 

Plus money is covered in filth and germs.

https://time.com/4918626/money-germs-microbes-dirty/

Edited by Gigantic Purple Slug
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Plus money is covered in filth and germs.

https://time.com/4918626/money-germs-microbes-dirty/

They would say that, any reason to do away with it......then would have full power and control.....will know how every person spends their dosh, what shops they frequent, where they are, who they give money to.......anyway you can't catch anything by holding it, virus doesn't pass through hands......soon if not careful we will have no general immunity to anything......far too much cleansing and sterilisation....we will all end up being vunerable to all kinds of bugs.;)

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Hilarious how the powers that be are getting nervious about people stockpiling money while the economy burns to the ground.

 

The best way to win is by not taking part.  Ask anyone from generation x and that's what you'll probablybe told.....lol. ;)

Stockpiling money must be a right pain anyway.

Don't they change the notes every few years ? There was one time a few years back where they seemed to change the 20 pretty quickly - I assume it was because someone had produced a good forgery in large quantities.

If you stash loads of banknotes then don't you have to change them to keep them current ?

 

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They would say that, any reason to do away with it......then would have full power and control.....will know how every person spends their dosh, what shops they frequent, where they are, who they give money to.......anyway you can't catch anything by holding it, virus doesn't pass through hands......soon if not careful we will have no general immunity to anything......far too much cleansing and sterilisation....we will all end up being vunerable to all kinds of bugs.;)

Here's an example that you might be able to comprehend.

People sneeze into their hands. That passes virus onto their hands. Then they use their handles to handle notes. which passes onto the notes. Then they pass the notes to the cashier. Then then notes go into the till. And then from the till back into your hands. and then after the virus transmits to your hands you touch your face. And then the virus gets in.

It's not rocket science. It's why at good sandwich bars they should always replace the gloves after handling money. It's because money is a major transmission mechanism for viruses and bacteria, along with stuff like hand rails and door handles. Watch them. Google "anti microbial cash drawer".

 

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Stockpiling money must be a right pain anyway.

Don't they change the notes every few years ? There was one time a few years back where they seemed to change the 20 pretty quickly - I assume it was because someone had produced a good forgery in large quantities.

If you stash loads of banknotes then don't you have to change them to keep them current ?

 

All old bank notes hold their value forever. 

Fair enough, that value these days is fook all in real terms.

 

"I Promise To Pay The Bearer On Demand".............................???.....What exactly.........???

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Here's an example that you might be able to comprehend.

People sneeze into their hands. That passes virus onto their hands. Then they use their handles to handle notes. which passes onto the notes. Then they pass the notes to the cashier. Then then notes go into the till. And then from the till back into your hands. and then after the virus transmits to your hands you touch your face. And then the virus gets in.

It's not rocket science. It's why at good sandwich bars they should always replace the gloves after handling money. It's because money is a major transmission mechanism for viruses and bacteria, along with stuff like hand rails and door handles. Watch them. Google "anti microbial cash drawer".

 

All good in my book, keep your immune system fighting fit as nature intended. Over sanitation has led to an explosion is allegies.

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Why in fuk should the bank be able to trace where people are spending their own goddamn money? It is none of the government's business.

It does not say that the govt does want to know.  The Commons Public Accounts Committee is an amalgam of from all parties.  I doubt that many people in govt or in opposition give a poo.  

 

 

The best way to win is by not taking part.  Ask anyone from generation x and that's what you'll probablybe told.....lol. ;)

HI SJL - So why do you work then ?? 

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