Has "electronic money" made us lose sight of value?
- Thread starter subbytna
- Start date
you requested I look at your post? I've replied to your post...The Bank Of France was founded by a Scottish Gambler who was on the run for murder in England and who later caused a serious financial crisis in France.... Started issuing more paper money than the bank could back up in coinage and suffered a run on the bank from opponents.
Associate
Not if you've got a brain.
Well, doesn't it prove why so many in the UK are in debt, struggling to pay bills, living beyond their means? It's not exactly a small percentage.
so who owns it if it's private?
no one actually owns it per say
members of the regional federal reserve banks are stockholders in their particular regional fed - they each get one vote to appoint the directors of the regional reserve bank. This has seemingly lead to confusion on the internet where numpties come up conspiracy theories about this arrangement.... frequently the Rothschild family is cited as secretly controlling the Fed
Not as much as... £16,650!
Had to pay 6 months up front on a 5 bed house a few years ago, and the only way we could pay it and move in on the day we wanted was cash deposit in branch. You can imagine how nervous I was walking over the road from the Natwest to the HSBC to deposit it!
Was like a brick of £50s.I know, my question was sarcastic to the other poster.
People confuse that the 12 regional fed banks are just part of the FED, not the whole of the FED..
anyways, ppl cant be bothered to learn things from the source/wikipedia so they'd rather listen to crazies on the internets..
Relatively speaking, we have much too much money in this country. Nobody needs a Titan-Z, or £1000 watch, or a yacht.
I find it quite perverse (and I'm not immune from my own criticism here) that we can indulge in such luxury when we know how much poverty exists elsewhere.
However I am also convinced that we are not at fault for the problems that exist elsewhere. Countries that exist in perpetual poverty do so largely thanks to their own governments and rampant corruption.
However as I've gotten older, the idea of spending money on luxuries has come with an ever-increasing sense of guilt. Guilt that I'm simply lucky to have been born here, and don't really deserve such a lifestyle, compared to others in less well-off places.
I find it quite perverse (and I'm not immune from my own criticism here) that we can indulge in such luxury when we know how much poverty exists elsewhere.
However I am also convinced that we are not at fault for the problems that exist elsewhere. Countries that exist in perpetual poverty do so largely thanks to their own governments and rampant corruption.
However as I've gotten older, the idea of spending money on luxuries has come with an ever-increasing sense of guilt. Guilt that I'm simply lucky to have been born here, and don't really deserve such a lifestyle, compared to others in less well-off places.
I understand that the issuer is Halifax. With the Clarity card, Halifax is effectively waiving their opportunity to add any charges to any foreign transactions, with the exception of cash withdrawals. It is certainly an awesome credit card (I have one too), although I now use my cashback Amex when paying for business expenses when abroad, as the company covers all the extra fees and I get cashback.
Caporegime
I'm taking a Cash Passport card to France tomorrow, 490Euro cost 407.00
Soldato
Doesn't make a difference to me but I get your point.
I manage my money exclusively online and always have done but I keep track of everything so despite never seeing the cash I've always been fully in tune with what I was spending, and on what so it doesn't feel any less valuable to me.
Note though - spending abroad is cheaper on a card, AND loads of cards give you cashback, PLUS interest free spending meaning you can save/invest the money you'd have had to spend otherwise.
Using cards for an average person probably nets you £500-£1000 a year for FREE so I can't recall the last time I ever used cash.
I manage my money exclusively online and always have done but I keep track of everything so despite never seeing the cash I've always been fully in tune with what I was spending, and on what so it doesn't feel any less valuable to me.
Note though - spending abroad is cheaper on a card, AND loads of cards give you cashback, PLUS interest free spending meaning you can save/invest the money you'd have had to spend otherwise.
Using cards for an average person probably nets you £500-£1000 a year for FREE so I can't recall the last time I ever used cash.
Soldato
This is why we take cash out at the start of each month to cover general spending and food - makes us spend far more carefully than if we used a card.
![[TW]Fox](/data/man-of-honor/2009.png){kind=avatar}
That spend on a clarity card would have been a tenner less.
And no ripoff involved when you don't spend it all and need to change it back.
Man of Honour
What makes it more interesting to me is that I am well aware that it's utterly irrational because cash isn't any more real than plastic...and I still do it. Cash is a token, no more (or less) real than a number on a screen that's also a token. Look on a bank note - it even says on it that it isn't money. It's a promissary note that you can exchange for money - "I promise to pay the bearer on demand the sum of <x> pounds". Although you can't actually do that because money itself is also just a token. Even when money was agreed weights of metal considered to have inherent value it was still just a token. It was just that the token itself had some value, mostly to make faking it more difficult. Money is just standardised barter tokens. It doesn't really matter if it's pieces of gold, silver and copper, shells, cheap metals coloured like gold, silver and copper, pieces of paper or numbers held in a computer. I know that...but tokens on pieces of paper still seem more real to me than the same tokens in a computer.