Same £50 pays off villages debts

Start it again with a student owing 90K and having absolutely jack **** to their name.

Might need a time machine to close that loop. And a willingness to be scammed for 90k if all their education amounts to nothing.
 
mattyg said:
Hi guys

Anyone know the explanation regarding the anti cashless system.
There was a thing on twitter a while back explaining how the £50 note paid of everyone's debt..

Not the one going round now about the £50 note still being worth £50.
It was more along the lines of A pays B. B pays C. C pays D etc. So the £50 paid off £1000's worth of debt...

It was trying to show how it just doesn't work like that
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I personally believe that U.S. Americans are unable to do so because, uh, some . . . people out there in our nation don't have maps and, uh, I believe that our, uh, education like such as in South Africa and, uh, the Iraq, everywhere like such as, and, I believe that they should, our education over HERE in the U.S. should help the U.S., uh, or, uh, should help South Africa and should help the Iraq and the Asian countries, so we will be able to build up our future, for our children thank you

NbdVBt0.jpg
 
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I remember seeing this, let’s assume this earning is under the threshold so no tax, it’s the debit card fee being skimmed off the transaction that it illustrates.

So £50 will mean £49.50 or something after fees (I forgot what the UK fees are), as an example. And if you take that £49.50 and spending using card again there is fees skimmed off.

Of course there will be no fees if paid using Bank Transfer.

The argument is that the fees with cash can also be applied as a business for dropping cash into the bank. I think a lot of them charged a fee. Although I don’t know the exact amount. Or with cash transactions you will have to also spend time keeping it safe and also sort and file, basically time spent on it and as a business, time is money.
 
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[FnG]magnolia said:
I personally believe that U.S. Americans are unable to do so because, uh, some . . . people out there in our nation don't have maps and, uh, I believe that our, uh, education like such as in South Africa and, uh, the Iraq, everywhere like such as, and, I believe that they should, our education over HERE in the U.S. should help the U.S., uh, or, uh, should help South Africa and should help the Iraq and the Asian countries, so we will be able to build up our future, for our children thank you

NbdVBt0.jpg
Click to expand...

That poor girl, she's still not lived that down :D
 
I posted and ran last night after some very nice Amarone della valpolicella


Raymond Lin said:
I remember seeing this, let’s assume this earning is under the threshold so no tax, it’s the debit card fee being skimmed off the transaction that it illustrates.

So £50 will mean £49.50 or something after fees (I forgot what the UK fees are), as an example. And if you take that £49.50 and spending using card again there is fees skimmed off.

Of course there will be no fees if paid using Bank Transfer.

The argument is that the fees with cash can also be applied as a business for dropping cash into the bank. I think a lot of them charged a few. Although I don’t know the exact amount. Or with cash transactions you will have to also spend time keeping it safe and also sort and file, basically time spent on it and as a business, time is money.
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This is whats doing the rounds at the moment.


Why should we pay cash everywhere with banknotes instead of a card ?
- I have a £50 banknote in my pocket. Going to a restaurant and paying for dinner with it.
The restaurant owner then uses the bill to pay for the laundry.
The laundry owner then uses the bill to pay the barber.
The barber will then use the bill for shopping.
After an unlimited number of payments, it will still remain a £50 value, which has fulfilled its purpose to everyone who used it for payment and the bank has jumped dry from every cash payment transaction made.
BUT
IF I come to a restaurant and pay digitally via Card,
- the bank fees for my payment transaction charged to the seller are 3%, so around £1.50
( and so will be the fee of £1.50 for each further payment transaction )
-for the owner re laundry or
- payments of the owner of the laundry shop,
- or payments of the barber etc.....
Therefore, after 30 transactions, the initial £50 will exist at only £5, and the remaining £45 has become the property of the bank … thanks to all of the digital transactions and fees!
Use it or lose it folks…
Once it’s gone we won’t get it back!
Cash is king!
Click to expand...
 
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