Literally the only risk mitigation provided specifically by cash is that it can cover you for a handful of days in the event that the electronic infrastructure crashes. So yes, it’s useful to have a bit of cash for emergencies. And I don’t care how much everybody goes cashless — if the infrastructure crashes then all those shops will immediately revert back to taking your cash with pleasure. Unless you’re going to keep literally thousands in cash in your house, though, your personal ability to mitigate this threat by holding cash is limited. And then you have the much bigger risk of being burgled.
The end of cash?
- Thread starter danny la rouge
- Start date
emanymton
A cat politely sat on the flaming gardener.
If the infrastructure crashes to the point where you might need thousands tucked away, I think we might have bigger issues to worry about and the cash won't be worth much.
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Serge Forward
Just enjoyin' my coffee.
It's possibly a product of conspiraloons... if so, stopped clock and all that. It's
moochedit
I'm not feeding seagulls
It definately smells a bit conspiraloony. I'd put..er.. money... on the writer being into 5g vaccine chips...the wef....etc etc.
Serge Forward
Just enjoyin' my coffee.
Fixed.
Elpenor
Dancing as fast as I can
Only possibly?
Well, it is a fact that the Bank of England has a unit that's looking into the introduction of a Central Bank Digital Currency, or the "Digital Pound" as they choose to call it.
Which is not the same as saying that the government intends to introduce one. I suspect they would run a mile from such a policy, given the public furore a few years ago when the banks were planning to phase out cheques, when the government stepped in and forced a U turn.
It is also a fact that the House of Lords Economic Affairs committee looked into the question of CBDCs a while ago and published a report that made clear they had deep reservations:
Which is not the same as saying that the government intends to introduce one. I suspect they would run a mile from such a policy, given the public furore a few years ago when the banks were planning to phase out cheques, when the government stepped in and forced a U turn.
It is also a fact that the House of Lords Economic Affairs committee looked into the question of CBDCs a while ago and published a report that made clear they had deep reservations:
moochedit
I'm not feeding seagulls
Not used one for years myself but i guess some people may still use them.
I suspect usage is highest among the elderly Tory core voters.
Treorchy's cash machines running out after bank branches close
More than 20 bank branches have closed in Wales in 2024, leaving demand high for those that remain.
www.bbc.co.uk
I'm not an entrepreneurial genius, but I think I can spot one obvious solution easily within the business' own scope to implement that would mean they could stop turning down custom.
PR1Berske
Alligator in chains by the park gates.
Install a LINK cash machine inside the store.Treorchy's cash machines running out after bank branches close
More than 20 bank branches have closed in Wales in 2024, leaving demand high for those that remain.www.bbc.co.uk
I'm not an entrepreneurial genius, but I think I can spot one obvious solution easily within the business' own scope to implement that would mean they could stop turning down custom.
lazythursday
Averagely-Known Member
One of those ones with hefty charges just to really piss off non-cash customers?
PR1Berske
Alligator in chains by the park gates.
Plenty of shops have free ones. Wilko did in town before it closed.
NoXion
Craicy the Squirrel
I've never paid for anything using a cheque, ever. It's like the financial equivalent of the carbide lamp. We have powerful and efficient LED lights now.
Puddy_Tat
naturally fluffy
at least some co-op shops do as well
The majority of LINK machines are free to use. Not sure why a non-cash customer would care about cash machine charges?
lazythursday
Averagely-Known Member
I just remember with some fury the local shop where I used to live that didn't take cards and housed a cash machine with the highest charges I've seen anywhere...
Pickman's model
Starry Wisdom
Which have their own problems
UnderOpenSky
baseline neural therapy
You can't keep warm with one when stuck in a cave?
PR1Berske
Alligator in chains by the park gates.
I used to pay rent with a cheque book. God knows the legality of that.
lazythursday
Averagely-Known Member
I paid the deposit of my first house with a credit card cheque. Happy days of cheap housing and lax financial controls.
Pickman's model
Starry Wisdom
I was thinking more of the issues with wildlife
NoXion
Craicy the Squirrel
I'd have thought lighting of any kind would present issues on that front.
liquidindian
Hello
Or money you'd have in three days.I used to love cheques and being able to spend money I didn't even have
Puddy_Tat
naturally fluffy
i can't see any reason that paying by cheque would be / have been illegal. broadly speaking, it's up to the organisation / person receiving the payment whether they will accept a certain form of payment, but if they were happy with it, can't see why not.
one job i had (very small firm, 1989-ish) used to pay wages by cheque, which was a bit of a pain in the tail.
moochedit
I'm not feeding seagulls
I'm sure it's perfectly legal to pay a landlord by cheque (or cash or any other payment method). Only thing making it ilegal is the landlord not declaring it for tax but thats the landlords responsibility not the tenents.
emanymton
A cat politely sat on the flaming gardener.
I don't understand why paying rent by cheque is any different to other types of payment?
It would have been pretty common at one time I'd think.
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