I think the further South you go, the more likely it is to happen. When I first moved up, I was going back to visit my then fiancée still living in rural Lincolnshire, and generally it was only the big supermarkets that could be relied on to always accept Scottish notes.
Opposing digital currency.
- Thread starter User00035
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shakey jake
Well-Known Member
most small shops and pubs dont take 50s.
i hate taking cheques as payment. bank transfer is easy. cash is far riskier to take. not sure i can see a down side to digital currency.
i hate taking cheques as payment. bank transfer is easy. cash is far riskier to take. not sure i can see a down side to digital currency.
I was at a village event last night. Big marquee, great band.....big flash of lightning and the card machine at the bar stops working as the powers gone off. Equally the tills at the shops and garages will have gone down. Cashless is great until it goes wrong...and it does go wrong. Luckily I had some cash so no beer shortage for me.
Bo Diddley
Well-Known Member
A similar thing happened last year while I was in ScrewFix, my simple order of woodscrews came to a little less than £40....the staff wouldn't let me leave 40 quid in cash and walk out of the door, another guy wanted to pay cash and be on his way as well
, they just couldn't work without the computer screen in front of them.
Rasputin
Well-Known Member
You’re confusing being a consumer and a business they are not the same but also equally symbiotic.
Firstly as a business digital makes sense instant payments, audit trails no storing of cash on prem etc for those transacting high value tickets it will make no difference and similarly for those doing thousands of micro transactions the time savings on reconciliations makes up for it.
But here’s the kicker if we get fully embedded into digital currencies especially those controlled by government then ultimately you can get shafted. The payment companies charge a % on their pass through which ultimately have to balance up against interest rates and other macro themes. These percentages have always been super low but if the economy tanks they could and likely would raise their rates and there’s nothing a retailer could do about it if their system broke etc.
Conversely as a consumer your behaviour is tracked to an even greater extent it is now, you can’t spend said cash so what do you do with it but put it in the bank all of which is under government control. The government has now in one fell swoop total control over you. Just look at what that scumbag Trudeau did in Canada to the truckers.
This is a very slippery slope which will ultimately lead to even more misery.
norcan
Well-Known Member
Unfortunately, small-time tax-dodging and money-laundering of that sort pales into insignificance compared to the schemes of the wealthy elite, and they’re not even subtle about it:
Why is London money laundering capital of the world?
An expert on corruption studies and Central Asia politics in a webinar on Wednesday talked about 'why London is the money laundering capital of the world' and said, "there is a lack of political will to tackle this issue..."
markj1
Well-Known Member
Unfortunately, small-time tax-dodging and money-laundering of that sort pales into insignificance compared to the schemes of the wealthy elite, and they’re not even subtle about it:
Why is London money laundering capital of the world?
An expert on corruption studies and Central Asia politics in a webinar on Wednesday talked about 'why London is the money laundering capital of the world' and said, "there is a lack of political will to tackle this issue..."www.helsinkitimes.fi
True. London is awash with big foreign money flooding in from China, Turkey, Egypt, etc (and before, from Russia). Not to mention Gulf countries.
These are wealthy people who live in non-democratic countries where the regime can simply take your money away from you. There's no right-to-private-property enshrined in law, and there are no independent courts to enforce the law anyway.
Whether these people can be called 'the elite' is another matter, I would hazard a guess that government officials and businessmen from in non-Western countries who suddenly come into great wealth aren't related to Mother Teresa of Calcutta (ahmmm....)
I will leave you with an image of the car park outside the Park Lane Dorchester hotel in London (where 'the elite' like to stay):
If you accidentally crash your car into the hotel's car park and write off these two cars, your insurer will be looking at a £2m payout...
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David Barker
Well-Known Member
I only take cash and most of my colleagues are the same. I will ask my window cleaner if he has a card machine when he comes as he takes cash. Cash is King in my book.
markj1
Well-Known Member
....and BTW, the two cars on the photo are (almost certainly) uninsured. Motor insurance isn't mandatory if you're wealthy enough to afford a payout in the event of an accident. Seriously. Most wealthy Gulf people don't use insurers and don't buy motor insurance for their cars.
Bo Diddley
Well-Known Member
I suppose when you have Black Gold on tap you need not bother with the little things in life
norcan
Well-Known Member
I would genuinely struggle to think of a definition of “elite” that doesn’t include those with enough capital to use London properties as money-laundering instruments.
Ranger6555
Well-Known Member
My mistake, I was told this many, many years ago. Just checked and you are correct
BenBhoy
Well-Known Member
I have had this happen twic recently & that's what I did, explained to them how ridiculous it was that they wouldn't take my cash, and then left. Let's not become digital slaves.
You soon will. Read up on it, these things are NOT done for your benefit. Oh yeah, its easier but every penny spent by YOU is scrutinised and categorised digitally. It is possible for your spending to be limited for one thing over another. If its done in China its 99% not a good thing…..
Well put and all true fact. Trudeaus action should be a warning to every westerner but it wont be. We are sleep walking into a truly state controlled society
Onearmedbandit
Member
A Central Bank Digital Currency mean total control for the government. That could be turning you are bank account off. Or making sure you can only buy 1 tank of fuel in a week.
Cash can not be tracked or controlled.
It also mean interest can applied to an individual. The situation......
You sell your house and you have £100,000 in "your bank account" or "CBDC account". The government want you to spend that money within 24 hours (to stimulate the local economy. tho you wish to wait to buy another house when prices drop. They can apply negative interest to your account every hour over 24 you keep that money. That means ever hour you lose... 5% until it is all spent. That is the level of control the government will have.
We are told that the next world issue will be a hack or something like that. If a the Rick is so high, they why does the government want everything to be online. Also with a CBDC everything will be a "tokenised". Your house, car that is paid off, money you earn, money invested etc. It is all kept on a single ledger easily spent and very very easy to lose.
Also have a read of bank bail in laws after northern rock went under. Anything over £85k in an account if a bank goes under that money is gone. You get given "shares" in the bank that just went under. The shares are worth bugger all.
I don't care about politics, all of them are **** heads. I don't want any bureaucrat or government jobs worth having the power to delete me because I said something wrong or something they don't like. Or most of all. Due to their utter and complete INCOMPETENCE.
I HOPE THIS HELPS
Onearmedbandit
Member
A Central Bank Digital Currency mean total control for the government. That could be turning you are bank account off. Or making sure you can only buy 1 tank of fuel in a week.
Cash can not be tracked or controlled.
It also mean interest can applied to an individual. The situation......
You sell your house and you have £100,000 in "your bank account" or "CBDC account". The government want you to spend that money within 24 hours (to stimulate the local economy. tho you wish to wait to buy another house when prices drop. They can apply negative interest to your account every hour over 24 you keep that money. That means ever hour you lose... 5% until it is all spent. That is the level of control the government will have.
We are told that the next world issue will be a hack or something like that. If a the Rick is so high, they why does the government want everything to be online. Also with a CBDC everything will be a "tokenised". Your house, car that is paid off, money you earn, money invested etc. It is all kept on a single ledger easily spent and very very easy to lose.
Also have a read of bank bail in laws after northern rock went under. Anything over £85k in an account if a bank goes under that money is gone. You get given "shares" in the bank that just went under. The shares are worth bugger all.
I don't care about politics, all of them are **** heads. I don't want any bureaucrat or government jobs worth having the power to delete me because I said something wrong or something they don't like. Or most of all. Due to their utter and complete INCOMPETENCE.
I HOPE THIS H
The Risks Of Central Bank Digital Currencies
Jun 16, 2021 // Central banks around the world are considering whether to issue a central bank digital currency (CBDC). While the potential gains are enormous, there remain numerous and as yet imperfectly understood challenges which must first be met.
www.diplomaticourier.com
This might help people to understand what no cash means. What they will replace it with.
Onearmedbandit
Member
This is a good article on the dangers of no cash and what they will replace cash with.
If I was rich enough, I would be buying physical gold and silver. The stuff that hurts if you drop it on your foot.
Rake Aboot
Well-Known Member
Almost correct
They must either have insurance or (as many people cannot get insurance , royal family etc) they must put up a bond large enough to cover any payout.
I think it’s with Loyds but not sure.
Bo Diddley
Well-Known Member
Thanks for the link, all interesting stuff.
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