tag:blogger.com,1999:blog-5623537812609722663.post7691515528761892099..comments2024-03-29T08:01:51.705+00:00Comments on The Pub Curmudgeon: The cash machine stopsCurmudgeonhttp://www.blogger.com/profile/02558747878308766840noreply@blogger.comBlogger29125tag:blogger.com,1999:blog-5623537812609722663.post-49507657832990319202020-04-26T08:55:22.041+01:002020-04-26T08:55:22.041+01:00I have to say that five weeks of being "encou...I have to say that five weeks of being "encouraged" to use cards for everyday transactions has made me much less conscious of how much I'm actually spending. It's all too easy just to put something extra in the trolley without any immediate consequences. If you are living from hand to mouth it's easy to see how this would make managing your money harder.<br /><br />There was an exception last night as I got some fish and chips from the chippy for the first time during lockdown and paid with cash as their card machine was out of order. This was the first cash I had spent since Sunday 22 March.Curmudgeonhttps://www.blogger.com/profile/02558747878308766840noreply@blogger.comtag:blogger.com,1999:blog-5623537812609722663.post-85110621674918118542020-04-13T00:32:19.608+01:002020-04-13T00:32:19.608+01:00Excellent post. Thank you very much.
Agree with ...Excellent post. Thank you very much. <br /><br />Agree with all you have said. As baseball fans say of a home run, 'You've hit it out of the park.'<br /><br />Cash is king.churchmousehttps://churchmousec.wordpress.com/noreply@blogger.comtag:blogger.com,1999:blog-5623537812609722663.post-40520671667618926202020-04-12T12:51:54.275+01:002020-04-12T12:51:54.275+01:00Yup.
What's even more amazing is Remoaners qui...Yup.<br />What's even more amazing is Remoaners quite happy that MEPs do not have to provide receipts for their expenses which are never audited yet somehow think the Brexit vote was all down to corruption.Professor Pie-Tinnoreply@blogger.comtag:blogger.com,1999:blog-5623537812609722663.post-74333146171259165522020-04-12T12:32:57.648+01:002020-04-12T12:32:57.648+01:00What about him. I was pointing out that the Prof ...What about him. I was pointing out that the Prof was guilty of one of the fallacies of illicit transference: arguing from the specific to the general. :-)dcbwhaleyhttps://www.blogger.com/profile/02585310584555592882noreply@blogger.comtag:blogger.com,1999:blog-5623537812609722663.post-12796197032147145592020-04-11T14:56:26.875+01:002020-04-11T14:56:26.875+01:00Ah, but how about Old Fred who's paid off his ...Ah, but how about Old Fred who's paid off his mortgage? And they may want to just put enough through the bank to give a convincing impression of being an entirely legit business.Curmudgeonhttps://www.blogger.com/profile/02558747878308766840noreply@blogger.comtag:blogger.com,1999:blog-5623537812609722663.post-80008733106710649722020-04-11T14:05:53.384+01:002020-04-11T14:05:53.384+01:00I have met plenty of tradesmen who insist on a pay...I have met plenty of tradesmen who insist on a payment through their bank. As young Will said to me after building a wall: "If my bank can't see that I am making a decent income I will have f**k all cjance of getting a mortgage"dcbwhaleyhttps://www.blogger.com/profile/02585310584555592882noreply@blogger.comtag:blogger.com,1999:blog-5623537812609722663.post-10616733688514825692020-04-11T14:02:13.633+01:002020-04-11T14:02:13.633+01:00Much of what we take for granted today was conside...Much of what we take for granted today was considered impossible only a few generations ago.<br />As Arthur C Clarke once said: "If an elderly but distinguished scientist says that something is possible, he is almost certainly right; but if he says that it is impossible, he is very probably wrong." dcbwhaleyhttps://www.blogger.com/profile/02585310584555592882noreply@blogger.comtag:blogger.com,1999:blog-5623537812609722663.post-83781533831513080802020-04-11T13:59:09.716+01:002020-04-11T13:59:09.716+01:00If cashless is so good why do so many retailers re...If cashless is so good why do so many retailers refuse to accept it for sums below £5 or £10?<br />dcbwhaleyhttps://www.blogger.com/profile/02585310584555592882noreply@blogger.comtag:blogger.com,1999:blog-5623537812609722663.post-26615587997119173882020-04-10T12:30:21.787+01:002020-04-10T12:30:21.787+01:00Gold has proved a pretty reliable store of value f...Gold has proved a pretty reliable store of value for millennia, and I don't see that changing any day soon. Just a pity it's not possible to access some of the former eastern areas of the Third Reich at present...Curmudgeonhttps://www.blogger.com/profile/02558747878308766840noreply@blogger.comtag:blogger.com,1999:blog-5623537812609722663.post-50085033748127591272020-04-10T12:18:52.832+01:002020-04-10T12:18:52.832+01:00Gold is likely going to maintain it's rarity
h...Gold is likely going to maintain it's rarity<br />https://wtamu.edu/~cbaird/sq/2014/05/02/can-gold-be-created-from-other-elements/<br />Cooking Lagerhttps://www.blogger.com/profile/02830924433230427226noreply@blogger.comtag:blogger.com,1999:blog-5623537812609722663.post-44522980810833920642020-04-10T11:31:26.596+01:002020-04-10T11:31:26.596+01:00Which is another thing that would become much more...Which is another thing that would become much more difficult without cash. Last year I was in a branch of a well-known chain restaurant, and asked about adding a tip to my card payment. The waitress (who had actually given particularly good service) replied that it would be better to give it directly to her, so I did in cash.Curmudgeonhttps://www.blogger.com/profile/02558747878308766840noreply@blogger.comtag:blogger.com,1999:blog-5623537812609722663.post-23737355170259593112020-04-10T11:29:28.163+01:002020-04-10T11:29:28.163+01:00Yes, if you have no alternative but to use cashles...Yes, if you have no alternative but to use cashless payments, the best way to handle it is to put your "beer money" and similar daily spends through a separate account or card from your main current account. Curmudgeonhttps://www.blogger.com/profile/02558747878308766840noreply@blogger.comtag:blogger.com,1999:blog-5623537812609722663.post-66570679785119742272020-04-10T11:10:22.963+01:002020-04-10T11:10:22.963+01:00Until about five years ago it was not that difficu...Until about five years ago it was not that difficult to find a bank account that paid more than inflation.<br /><br />The problem with using a commodity such as gold as a standard is that there is no guarantee that gold will remain a rare commodity. Aluminium was worth over a $1000 a kilo in 1850 yet was less than one dollar a kilo in 1900 after the Héroult/Hall process.<br /><br />dcbwhaleyhttps://www.blogger.com/profile/02585310584555592882noreply@blogger.comtag:blogger.com,1999:blog-5623537812609722663.post-35459547656631954242020-04-10T10:17:00.759+01:002020-04-10T10:17:00.759+01:00You take away cash and you take away the black eco...You take away cash and you take away the black economy.<br />And without a black economy this country would grind to a halt.<br />I've yet to meet a tradesman who wouldn't do a foxer for cash and I've built a few things over the years.<br />A feller likes a bit of walking around money.It makes him feel slightly less worthless.<br />Mind you my kids have the right idea.<br />They have a main bank account and then one of these new start-up jobs called Starling which they use for their day to day drinking.They top this up at the Post Office with cash drawn from their main bank account.<br />The idea is meant to be that when they eventually approach the main bank for a loan or mortgage the pen pushers won't have a clue how big a pisshead they are.<br />They'll go far.Professor Pie-Tinnoreply@blogger.comtag:blogger.com,1999:blog-5623537812609722663.post-22908185506600044602020-04-09T21:48:53.843+01:002020-04-09T21:48:53.843+01:00I always tip with cash.
Don't trust management...I always tip with cash.<br />Don't trust management.Doonhamernoreply@blogger.comtag:blogger.com,1999:blog-5623537812609722663.post-27605747904656298652020-04-09T09:26:22.420+01:002020-04-09T09:26:22.420+01:00Negative interest rates has to be one of the dafte...Negative interest rates has to be one of the daftest fears yet. They’re already here & have been for decades. At least since 2008. It is easier to manifest them in the retail market by maintaining savings rates below inflation rates. Ya’ll already paying the bank to store your value & it don’t matter if you do stick it under the mattress. It is more straightforward in the wholesale markets to just set negative rates that retail customers never access.<br /><br />For anyone unaware, google the Nixon Shock. It's interesting. The end of gold convertibility. The end of Bretton Woods, the birth of the Petro dollar. When Nixon defaulted on US debt, made a deal with the Saudis for dollars to be the global unit of account for oil in return for the protection of the US military and maintained the dollar as the global currency without a direct commodity convertibility.<br /><br />Cash is nothing more than debt. Debt that will never be settled, just circulated. It doesn't matter whether the token is a picture of Her Maj or numbers on a screen. The next daft conspiracy is that a central authority is monitoring your transactions. Google programmable money. It doesn’t require an authority to control you. You can place the transactional rules in the token itself. The tech exists.<br /><br />If you really are fearful of these conspiracies the answer isn’t to maintain a system of exchanged paper debt tokens, it’s to return to commodity money with no counter party risk. That stash of gold.<br /><br />Cooking Lagerhttps://www.blogger.com/profile/02830924433230427226noreply@blogger.comtag:blogger.com,1999:blog-5623537812609722663.post-40406733521786799062020-04-09T07:07:52.479+01:002020-04-09T07:07:52.479+01:00It is unfortunate that the way that usually seems ...It is unfortunate that the way that usually seems to have been adopted for cashless payments is charging transactions directly to people's main current accounts, which is the very worst option for helping people manage their money.Curmudgeonhttps://www.blogger.com/profile/02558747878308766840noreply@blogger.comtag:blogger.com,1999:blog-5623537812609722663.post-72954507393966978032020-04-09T07:05:26.773+01:002020-04-09T07:05:26.773+01:00Millions of people who have payment cards never us...Millions of people who have payment cards never use Internet banking, let alone have a banking app. The only thing for which I've ever seen a "digital receipt" is the Wetherspoons app, where I pay via PayPal.Curmudgeonhttps://www.blogger.com/profile/02558747878308766840noreply@blogger.comtag:blogger.com,1999:blog-5623537812609722663.post-88479442633367223572020-04-08T23:20:59.448+01:002020-04-08T23:20:59.448+01:00You generally don't need one - your banking ap...You generally don't need one - your banking app will give you a digital receipt as soon as the transaction is complete. Problem being people who have just got to grips with a contactless card and maybe online banking, let alone a banking app on a smartphone they don't have. Few businesses that do contactless pay for the printers that give an itemised receipt, as opposed to the transaction receipt. electricpicshttps://www.blogger.com/profile/09144970068645280352noreply@blogger.comtag:blogger.com,1999:blog-5623537812609722663.post-33332284692574622382020-04-08T19:22:18.710+01:002020-04-08T19:22:18.710+01:00The worst macro economic effect of the total disap...The worst macro economic effect of the total disappearance of cash would be ability of the banks to set negative interest rates. If all your money had to be in bank rather than in a box under the bed then the banks could, by setting negative rates, cream a little of your money away every month. <br />And central government would see this as an ideal way of encouraging economic activity. After all if your money is loosing 5% of its value every year better to spend than save.dcbwhaleyhttps://www.blogger.com/profile/02585310584555592882noreply@blogger.comtag:blogger.com,1999:blog-5623537812609722663.post-30284000561659094782020-04-08T12:53:57.214+01:002020-04-08T12:53:57.214+01:00Agreed. You are often looked at with incredulity i...Agreed. You are often looked at with incredulity if you're audacious enough to ask for a receipt.Paul Baileyhttps://www.blogger.com/profile/09678639237696546268noreply@blogger.comtag:blogger.com,1999:blog-5623537812609722663.post-49811560237095317452020-04-08T10:28:06.009+01:002020-04-08T10:28:06.009+01:00There is an alternative to dirty virus laden debt ...There is an alternative to dirty virus laden debt tokens issued by a central bank and regularly debased with a false promise to pay the bearer on demand.<br /><br />It doesn't have to be a centralized electronic ledger managed by a network of private banks. wikth a plastic card, phone or smartwatch as the front end.<br /><br />Money was not invented by banks or governments or Kings, it was invented by free men seeking a unit of account, medium of exchange and store of value.<br /><br />That pile of Nazi Gold you sit on was once considered money. Cryptography offers a decentralized electronic ledger under no overall control.<br /><br />You can take your pick. What is money is simply an agreement between people.Cooking Lagerhttps://www.blogger.com/profile/02830924433230427226noreply@blogger.comtag:blogger.com,1999:blog-5623537812609722663.post-15001926825784561282020-04-07T23:56:42.577+01:002020-04-07T23:56:42.577+01:00Retailers, including pubs, like cashless for a num...Retailers, including pubs, like cashless for a number of reasons. Easier reconciliation of takings, cheaper to pay the card handler than paying cash into the bank, not having lots of cash on the premises and consequent lower cash on premises insurance premium, not having to take cash to the bank or pay for collections and less risk of employee theft. The downside is that card machines and systems fail from time to time, and you risk alienating people who only pay with cash. Most operators are sensible and while encouraging cashless, still accept real money. Hopefully the rush to avoid cash due to Coronavirus will be negated by the need to accept as much business as possible once normal service is resumed. electricpicshttps://www.blogger.com/profile/09144970068645280352noreply@blogger.comtag:blogger.com,1999:blog-5623537812609722663.post-30626115441620135102020-04-07T23:10:04.821+01:002020-04-07T23:10:04.821+01:00"...reconcile this to the statement at the en..."...reconcile this to the statement at the end of each month, but if there are dozens of cups of coffee and rounds of drinks on it, this becomes completely impractical"<br /><br />Especially if you are not issued a receipt with those transactions, which seems to be the default option with contactless payments.Andy.noreply@blogger.comtag:blogger.com,1999:blog-5623537812609722663.post-80751302555136510172020-04-07T22:22:15.070+01:002020-04-07T22:22:15.070+01:00Good to hear from you, Paul! Stay safe in these tr...Good to hear from you, Paul! Stay safe in these troubled times and thanks for the link back to your blogs.Paul Baileyhttps://www.blogger.com/profile/09678639237696546268noreply@blogger.com