Preparedness for when

Frugalsod

Blue_Doggy wrote: »

Did anyone see that Andy Haldane of the Bank of England proposed recently (at the end of last week) both negative interest rates and the abolition of cash with the stated intention of making possible for the banks to get their sticky little mitts on our hard-won gold.

http://www.telegraph.co.uk/finance/economics/11875529/We-musnt-ban-cash-or-inflate-the-pound.html refers. I first spotted it in the FT on Saturday, (https://www.ft.com/cms/s/.../7967908e-5ded-11e5-9846-de406ccb37f2.html‎) where the cash-grabbing intention was clearer, but the article is now behind the FT pay-wall.

Just as you've been saying!

The problem is that this shows that the central banks and governments have absolutely no idea what they are doing. It shows that they have no understanding of what is really happening because they are only looking for increased activity when government falls in spending are decreasing all activity.

The fact that negative interest rates will be the equivalent of an additional tax on most people is also lost on them.

Well spend any spare money on pitch forks they will definitely be needed.

moneyistooshorttomention

Blue_Doggy wrote: »

Did anyone see that Andy Haldane of the Bank of England proposed recently (at the end of last week) both negative interest rates and the abolition of cash with the stated intention of making possible for the banks to get their sticky little mitts on our hard-won gold.

http://www.telegraph.co.uk/finance/economics/11875529/We-musnt-ban-cash-or-inflate-the-pound.html refers. I first spotted it in the FT on Saturday, (www.ft.com/cms/s/.../7967908e-5ded-11e5-9846-de406ccb37f2.html‎) where the cash-grabbing intention was clearer, but the article is now behind the FT pay-wall.

Just as you've been saying!

Oh yes....I saw it okay and thought "Guy has got a death wish then....:cool:". No way Hosea....:cool: (where is a foot put firmly down smilie then when you need it?).

COOLTRIKERCHICK

If the government etc start playing silly boogers with trying to make us a cashless society then. Then they will be able to trace every transaction.. As they were saying a few years back they wanted people to DOB in work people who paid cash etc..

[Deleted User]

We'd turn to bartering CTC, let them try to trace our traded jars of jam and bags of spuds! Mind you they might be able to trace pickled onions and garlic mightn't they?

jk0

They mentioned in the Telegraph that people would just start using dollars or Euros in place of pounds, or maybe barter.

I'd guess those currencies would be changed to cashless in short order if not at the same time.

Can you imagine going to a car boot sale with Turkish Lira?

COOLTRIKERCHICK

MrsLurcherwalker wrote: »

We'd turn to bartering CTC, let them try to trace our traded jars of jam and bags of spuds! Mind you they might be able to trace pickled onions and garlic mightn't they?

I could barter with our pigs, but then that might be a big no no with what has been published about Cameroon lol

moneyistooshorttomention

There IS a plus side to a cashless economy - down to the fact that there are parts of Britain that function to an astonishly high extent on a "cash in hand/black economy" basis and people who don't live in a part of the country that operates a LOT on that basis simply wont realise just how prevalent it is. That is - until they move to one of them...and realise that there is a bit of a mindset of a substantial proportion of the people somehow not quite identifying themselves as part of Britain as a whole...

That is one of the "levers" that the Government has to hand as a way to possibly affect the rest of us and push for this cashless economy they would like - ie because there is this weakness (that is positively entrenched in some areas).

The Government aren't total fools (a long way towards....but not quite there...:cool:) and they must know that fact.

The question is as to what to do about it - and I would personally argue that everywhere in the country should be on "normal footing" (ie tax is paid as due) - but I'm blowed if I could say how to get from point A (huge Black Economy) to point B (everyone paying tax as per due).

It would help a lot to weaken any Government arguments as to why we should all go cashless though if someone could think of a way to deal with this....:cool:

COOLTRIKERCHICK

I think this is when local groyps/ communities will start producing their own local currencies/ I.o.u type notes etc

Frugalsod

COOLTRIKERCHICK wrote: »

I could barter with our pigs, but then that might be a big no no with what has been published about Cameroon lol

Yes there are already some sick jokes about that incident. :beer:

moneyistooshorttomention

There are a few "local currencies" already and I tend to think they are a good idea personally.

BUT...parts of Britain that (to a large extent) don't seem to regard themselves as part of Britain and operate to a very large extent on a conventional currency basis BUT not declaring much of it to tax are a very different scenario.

I am remembering the stuff back (many years back) when the, then, Government was busily sequestering the funds of various Unions and many ingenious ways of dealing with this were being thought up - BUT, as one Union Official said to me "We have to be visibly 'whiter than white' or it wont work and we will lose our own money we are busily finding ways to deal with". I agreed with him...