Scottish Bank Notes!

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If you're on the red, you'll be fine.

Don't let small minds and a lack of education in others spoil your day.

Now . . . Have another glass
My biggest problem is unbeknown to me my mother brought £500 in Scottish Notes with her, I am considering a visit to her Bank to Deposit it all and draw a more suitable amount for her to keep in her purse!o_O
 
Why do you think that?

The UK’s bizarre, not really “free” retail banking is just a national oddity unrelated to moving pieces of paper around.

Banks make more money from card payments: usually 0.3% but often as much as 2.5%.

And then there’s the £2.5 billion that the banks take from customers in overdraft fees every year. An excellent reason to encourage thoughtless card usage.

(I get at a couple of free transatlantic flights and a couple of return golf flights from my card use each year. There’s a lot of money washing round from card usage.
Maybe you are right. My thought was that at least with cash in circulation there is an option not to keep money in a bank. Might not be desirable but there is still an option.
 
Maybe you are right. My thought was that at least with cash in circulation there is an option not to keep money in a bank. Might not be desirable but there is still an option.
Cash is definitely still crucial.
 
Maybe you are right. My thought was that at least with cash in circulation there is an option not to keep money in a bank. Might not be desirable but there is still an option.
One of the oddities about cash is that the less we “spend it,” the more we hold bank notes. All the Central banks are bemused about the amount of cash that seems to disappear as soon as they print it.

There’s about £50 billion in cash “missing:” printed but no-one knows where it is.

Bank of England criticised for losing track of £50bn of banknotes | Bank of England | The Guardian

This reminds me: I must check behind the cushions of the sofa this weekend.
 
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One of the oddities about cash is that the less we “spend it,” the more we hold bank notes. All the Central banks are bemused about the amount of cash that seems to disappear as soon as they print it.

There’s about £50 billion in cash “missing:” printed but no-one knows where it is.

Bank of England criticised for losing track of £50bn of banknotes | Bank of England | The Guardian

This reminds me: I must check behind the cushions of the sofa this weekend.
May explain why my bed is 6 feet off the ground 🤪
 
May explain why my bed is 6 feet off the ground 🤪
Yes, it's a shame the €500 note has gone out of use. Makes life more difficult.

A million Euros weighs just a couple of kilos, which makes it easy to pop in the glove compartment or next to the spare wheel.

But store a million in twenties and you're on your way to filling the boot of the car.

When the ECB brought out the €500 note in 2002, they knew exactly what they were doing by "trumping" the old $100 bill.



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Yes, it's a shame the €500 note has gone out of use. Makes life more difficult.

A million Euros weighs just a couple of kilos, which makes it easy to pop in the glove compartment or next to the spare wheel.

But store a million in twenties and you're on your way to filling the boot of the car.

When the ECB brought out the €500 note in 2002, they knew exactly what they were doing by "trumping" the old $100 bill.



View attachment 141367
The 500 Euro note is not universally accepted due to its association with money laundering, indeed, Denmark has banned its use.
 
The 500 Euro note is not universally accepted due to its association with money laundering, indeed, Denmark has banned its use.
The "Bin Laden" (€500) note stopped being produced in 2019, purely because of the global problem of counterfeiting.

It was replaced with the new €200 note.

There's some amusing stuff about Pablo Escobal's problems with burying $100 and €500 notes. I'll fish them out.
 
Yes, it's a shame the €500 note has gone out of use. Makes life more difficult.

A million Euros weighs just a couple of kilos, which makes it easy to pop in the glove compartment or next to the spare wheel.

But store a million in twenties and you're on your way to filling the boot of the car.

When the ECB brought out the €500 note in 2002, they knew exactly what they were doing by "trumping" the old $100 bill.



View attachment 141367
You can get a fair few (€25,000) in an empty fag packet in your shirt pocket as well.

Years ago when living in Skiathos I did a plumbing job and the guy gave me a €500 note at 5pm on a Friday!!
Middle of winter, no banks or shops open.
 
There's some amusing stuff about Pablo Escobal's problems with burying $100 and €500 notes. I'll fish them out.

Pablo Escobal was the 7th richest man in the world with a net worth of $50 billion. (Back in the day when a billion was a lot of money).

He generated $420 million a week in cocaine sales because he supplied 80% of the world's cocaine. (For some reason his boys didn't take Barclaycard.)

It's alleged that Escobal kept $30 billion in notes buried.

To keep everything tidy he spent $2,500 a month on elastic bands.

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There’s about £50 billion in cash “missing:” printed but no-one knows where it is.
Potentially all profit for the treasury.

Especially in these days of "can you show this money is from a legal source, or we will confiscate it" if the holder (I don't use the expression owner as the promise to pay the bearer on demand doesn't really apply) attempts to pay into a system where it can then be used to buy the bigger, desirable stuff like property, fast cars and loverly boats.
 
Have we gone to plastic notes so the London institutions can wash it again and again?
 
There’s about £50 billion in cash “missing:” printed but no-one knows where it is.

Bank of England criticised for losing track of £50bn of banknotes | Bank of England | The Guardian

This reminds me: I must check behind the cushions of the sofa this weekend.

It may not all be notionally tucked away under mattresses or in jars in a cupboard.

There may well be a significant portion being circulated and used in transactions that are simply not visible to BoE or government.

As an example - there is a huge unofficial influx of people into the UK. People without NI numbers and tax and official status and without UK bank accounts. Lots of small businesses running on cash. And even the odd larger business happy to discount and accept cash.

Some businesses that run legitimately on cash won't like using banks because they can end up paying to bank larger amounts. They'll be inclined to trade with other suppliers and customers in their supply chains who use cash. And some less legitimately If they can stay outside VAT and play games with PAYE, employers' NI then their money will go further in terms of effective income. And cash circumvents red tape and minimum wage in some situations by making employees invisible to the system.

There is an assumption that cash is something used by traders. But one might speculate how much housing in London is illicitly sublet? Chances are there are chains of rental transactions occurring in cash.

Then there is cash abroad. An example of that might be weddings and gifts. Sterling is a hard currency. In some parts of the world its easy to change with street money changers.
 
It may not all be notionally tucked away under mattresses or in jars in a cupboard.
There may well be a significant portion being circulated and used in transactions that are simply not visible to BoE or government.
As an example - there is a huge unofficial influx of people into the UK. People without NI numbers and tax and official status and without UK bank accounts. Lots of small businesses running on cash. And even the odd larger business happy to discount and accept cash.
Some businesses that run legitimately on cash won't like using banks because they can end up paying to bank larger amounts. They'll be inclined to trade with other suppliers and customers in their supply chains who use cash. And some less legitimately If they can stay outside VAT and play games with PAYE, employers' NI then their money will go further in terms of effective income. And cash circumvents red tape and minimum wage in some situations by making employees invisible to the system.
There is an assumption that cash is something used by traders. But one might speculate how much housing in London is illicitly sublet? Chances are there are chains of rental transactions occurring in cash.
Then there is cash abroad. An example of that might be weddings and gifts. Sterling is a hard currency. In some parts of the world its easy to change with street money changers.
For sure: black economy, illegal drugs, gold / jewellery, wealth transfers across borders, and even simple generational wealth transfers within countries, as "inheritances" are passed down in anticipation of the inevitable day.

We're a long way from the days when Cilla Black's husband baked a loaf in England containing the payment for her first Spanish villa: those exchange controls have long gone, but only to be replaced by other shenanigans. A glance at the gold price since Russia's invasion of Ukraine soon tells a story of how money has been moved to avoid the formal financial controls.

Nothing unique to Sterling, the Dollar and Euro relish the problem on a larger scale. Despite popular rumour, the UK can be fairly transparent, compared to the EU and States, despite all the offshore territory "workarounds."

(My interest is not because I've been a "poacher" in that black economy - I was a "gamekeeper" in a previous existence. Big ticket stuff, not builders and employees on the black)
 
One of the oddities about cash is that the less we “spend it,” the more we hold bank notes. All the Central banks are bemused about the amount of cash that seems to disappear as soon as they print it.

There’s about £50 billion in cash “missing:” printed but no-one knows where it is.

Bank of England criticised for losing track of £50bn of banknotes | Bank of England | The Guardian

This reminds me: I must check behind the cushions of the sofa this weekend.
And that's what scares 'them' ...they have no frucking idea where over 50 billion is , that is why they are pushing for a cashless society . Once they have rounded up the 'missing' money they will be in control as long as they do not print any more.

I am not a luddite with a tin foil hat , far from it , I work internationally and have not been paid in cash...ever. But I still like to have a bit floating around.
 

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