Pound at all time low? Well that was a lot of fuss about nothing...

The point Neil Oliver made but got dismissed out of sight. Be aware of your fate.
His point about cash is king rather than your account being dismissed at a stroke if your not aboard with present day thinking, hasent been addressed but I'm sure it will be.
 
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gant said:
Neil Oliver.....
His point about cash is king rather than your account being dismissed at a stroke if your not aboard with present day thinking, h
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This is true and is actually happening, albeit on a small scale. PayPal recently froze the account of the Free Speech Union because it didn’t agree with its politics. PayPal also froze money donated to the protesting Canadian truckers earlier this year because it didn’t agree with their politics.

Is it right for a bank to be judge and jury on how you spend your money?

Use cash as much as possible. If you find a shop that won't accept cash ask them what they plan to do should the Internet stop working. If they still say no take your business somewhere else.
 
andy11 said:
It isn't new money, it cannot possibly be. The manipulation of the numbers of £s on paper only reduces the buying power of all other £s in circulation, so your £10k, whilst new to you, will be made up of price rises of goods and services in the economy at a later date, hence - what people don't realise - money printing is inflation.
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The Bank of England disagrees with you.

Plus you seem to completely misunderstand how the economy actually works. You seem to think £s circulate around the economy forever; they don't.
 
Mottie said:
So it’s at an all time high since last week then.
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That's like your previous comparisons:
"find a product from EU, in my local Sainsburys, on a Tuesday morning, before 0900, in aisle 3, (excluding the freezers) that is in short supply."
 
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gant said:
The point Neil Oliver made but got dismissed out of sight. Be aware of your fate.
His point about cash is king rather than your account being dismissed at a stroke if your not aboard with present day thinking, hasent been addressed but I'm sure it will be.
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He hasn't really thought the 'cash is king' thing through, has he?
You want to store all your wealth (if you have any) in physical cash? Fair enough. Couple of questions:

. where are you going to store it?
. are you happy with the security of your storage arrangements
. how will you transport it?
. are you happy with the security of your transport arrangements.

Let' say, for example, you decide to buy a new car for £10k or whatever. Will people really be comfortable travelling with and then handing over that amount of cash?

They are the same problems faced historically by gold, silver etc. as means of exchange and stores of wealth. The problems were overcome by initially using silver/goldsmiths (which pretty much morphed into banks) and using promissory notes and accounting rather than having to store and lug large amounts of commodities.

andy11 said:
This is true and is actually happening, albeit on a small scale. PayPal recently froze the account of the Free Speech Union because it didn’t agree with its politics. PayPal also froze money donated to the protesting Canadian truckers earlier this year because it didn’t agree with their politics.

Is it right for a bank to be judge and jury on how you spend your money?

Use cash as much as possible. If you find a shop that won't accept cash ask them what they plan to do should the Internet stop working. If they still say no take your business somewhere else.
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Paypal is a private 'payment processing' company and has the right to transact or not with anyone it chooses. I agree with you regarding the political interference in corporate affairs (well, it's actually the other way around) but if you don't want to use paypal, then don't.

Again, I share your concerns around privacy, security etc regarding the banking system. Problem is, if you want to use £s then you are pretty much tied into using retail banks.

EnochP said:
We are mostly uneducated and clueless about money in the uk as you can tell by the amount of people who believe printing more bank notes solves the problem.
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That is undoubtedly true.
 
wellyfish said:
EnochP said:
We are mostly uneducated and clueless about money in the uk as you can tell by the amount of people who believe printing more bank notes solves the problem.
They might start to understand when they are paying for a pint of milk with a wad of notes
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That is undoubtedly true.
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Hold on.

You are the very person that said we can just keep creating as much money as we want.

Remember ? Utopia !
 
carmanmemoranda said:
Hold on.

You are the very person that said we can just keep creating as much money as we want.

Remember ? Utopia !
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Hold on.

Your comprehension skills haven't improved since the last time, have they?

'We', as in the general public, aren't legally allowed to create £s at all. Govt can (and does) create as many £s as it wants to; all it has to do is get parliament to authorise the spending.

I'm pretty sure you won't understand it but, anyway, read what I posted here.
 
wellyfish said:
Hold on.

Your comprehension skills haven't improved since the last time, have they?

'We', as in the general public, aren't legally allowed to create £s at all. Govt can (and does) create as many £s as it wants to; all it has to do is get parliament to authorise the spending.

I'm pretty sure you won't understand it but, anyway, read what I posted here.
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We. As in the country.
I believe if we the public print our own its forgery.

Anyway I thought you were not engaging with me any more.

You are still in Utopia. I dont believe in that
 
wellyfish said:
Let' say, for example, you decide to buy a new car for £10k or whatever. Will people really be comfortable travelling with and then handing over that amount of cash?
Click to expand...
We bought a new Ford Focus in 2006 and paid in cash as we had been paid cash for the sale of our previous car plus I had a bit of cash in the house to put towards it but they called someone down from the accounts department to count and mark (with one of those marker pens) every single f'king note with the sales manager and salesman watching. It was a bit of a ball ache. Ten years later we bought a used Range Rover from a main dealer. I took out a £10k loan from LR finance (which was the minimum amount you could borrow) as they were running a promotion giving two years full LR warranty and two years free servicing if you took out a loan from them. The loan went through in about ten seconds at the sales desk and I paid the balance on my debit card. A much quicker transaction.

* I hate loans but the only stipulation to keep the 2 year free warranty and servicing deal was that you didn’t pay the loan off in full before 6 months had passed so I paid the majority of it off and left a couple of hundred quid owing and the payments dropped to something like £18 a month which I paid off after the six months had passed.
 
wellyfish said:
Nah, I've been consistent throughout.

You seem to have taken against my explanations so, out of interest, can you tell us your explanation of govt fiscal ops?
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Has I have said before....

Why dont you just tell us. Saves us all getting it wrong . And you can show us how clever you are
 
Mottie said:
We bought a new Ford Focus in 2006 and paid in cash as we had been paid cash for the sale of our previous car plus I had a bit of cash in the house to put towards it but they called someone down from the accounts department to count and mark (with one of those marker pens) every single f'king note with the sales manager and salesman watching. It was a bit of a ball ache. Ten years later we bought a used Range Rover from a main dealer. I took out a £10k loan from LR finance (which was the minimum amount you could borrow) as they were running a promotion giving two years full LR warranty and two years free servicing if you took out a loan from them. The loan went through in about ten seconds at the sales desk and I paid the balance on my debit card. A much quicker transaction.

* I hate loans but the only stipulation to keep the 2 year free warranty and servicing deal was that you didn’t pay the loan off in full before 6 months had passed so I paid the majority of it off and left a couple of hundred quid owing and the payments dropped to something like £18 a month which I paid off after the six months had passed.
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Imagine buying a house or a business with cash.
 
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