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Here in Portugal as well, this country is very divided. Old people usually pay with cash only, while the young embrace the latest payment methods, It reflects the general digital divide in society. Cash is analog and old-skool
I don't get it. If your card isn't accepted, you can just go to the ATM and get some cash. If you're worried that the bank can trace your movements, you can as well follow me on the street. Follows the same pattern anyway. And the banks are so huge, that if they are breached the sh*t will hit the fan big time. Banks are pretty much the safest virtual platform.
If you are worried about your privacy, the first step is not to download apps like Tinder, Foursquare or any other tracking your movements, or not using adblock + ghostery on your Internet browser. Or any kind of "premium bonus" cards at your favourite grocer, or any membership cards. Or visit suspicious porn sites, using a GPS navigator in your car or even using a cell phone. All are a 100 times easier to track than superhyperdiddly bank transactions.
I can empty my bank account, throw my phone, bus card and computer into the river and bike into the sunset with being able to simply disappear from the earth. Can you?
I don't get it. If your card isn't accepted, you can just go to the ATM and get some cash. If you're worried that the bank can trace your movements, you can as well follow me on the street. Follows the same pattern anyway. And the banks are so huge, that if they are breached the sh*t will hit the fan big time. Banks are pretty much the safest virtual platform.
hmm, you can't withouth cash.
I'm not really worried about my privacy, I know there are several other ways to trace my movements. Why I use cash in stores is more a personal preference/ habit... but banning cash completely just means a loss of freedom to me, one step closer to 1984.
hmm, you can't withouth cash.
I'm not really worried about my privacy, I know there are several other ways to trace my movements. Why I use cash in stores is more a personal preference/ habit... but banning cash completely just means a loss of freedom to me, one step closer to 1984.
Fair enough. GPS is though more a step closer to 1984.
Same here, I don't trust electronics. I have witnessed repeatedly how someone's card was not accepted at the check out. In that case they start to look for other cards in their wallets/purses, or even for some remaining cash. Meanwhile the frozen stuff in my cart is melting
Even perfect card payments tend to take longer than cash payments. And there is that depressing silence as everyone is waiting for the feedback from the bank, feels like an eternity.
One time I was halfway around the world and my credit cards didn't work because I had failed to notify my banks that I would be traveling overseas. Not a good feeling. Another time, some internet cable to Asia had been cut and my USA bank ATM card didn't work one weekend. Again, not a good feeling.
If you're smart, you'll have some sort of a back-up plan.
And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name. Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.
Revelation 13:16-18
Thanks you for this. Now I don't feel so bad about working with dogmatic Muslims.
It depends of the country, Europe is not an homogeneous entity. France is not a cash society, Before the euro, the highest bill in France was the 500 francs bill. It is less €80 and this banknote is was uncommon.
It is countries like Germany or Italy that are very cash societies.
I made a table of the value of the highest banknote in the national currencies expressed in Euros. For 6 currencies there was a relatively rare banknote which I put on the right side of the table
255.65 € Deutsche mark 511.29 €
247.89 € Belgian franc
226.89 € Dutch guilder 453.78 €
168.19 € Finnish markka
123.95 € Luxembourgish franc (primarily used Belgian franc)
76.22 € French franc
72.67 € Austrian schilling 363.36 €
126.97 € Irish pound
60.10 € Spanish peseta
51.65 € Italian lira 258.23 € (introduced 500k lira note less than 4 years before changeover)
49.88 € Portuguese escudo
29.35 € Greek drachma
...
144.81 € Lithuanian litas
142.29 € Latvian lat 711.44 €
46.59 € Maltese lira
41.73 € Slovenian tolar
34.17 € Cypriot pound
31.96 € Estonian kroon
33.19 € Slovak koruna 165.97 €
As you mentioned 500 French francs at 6.55957 FF/Euro = 76.22€ . Obviously Germany and the Netherlands were used to banknotes that were worth ~€500 and they wanted to retain that denomination. But all the banknotes together for all the future Euro zone countries in the year 2000 were worth €380 billion. In 2001 €110 billion in banknotes were turned in as individuals prepared to hide money from tax collectors before the changeover.
By the end of the year 2015 just the €50 Euro notes circulating were worth over €400 billion.
Value of circulating banknotes at end of 2015
€5 €8.8 billion
€10 €23.3 billion
€20 €68.8 billion
€50 €419.9 billion
€100 €214.5 billion
€200 €41.4 billion
€500 €306.8 billion
In 2000 the value of all the drachma banknotes was about €9 billion. I saw that €50-€60 billion was taken out of Greece last year and put in bank accounts in other Euro countries. At the beginning of July 2015 Greek banks were supposed to be down to their last 500 million euros. The government clamped down capital controls limiting ATM withdrawals to €60 per day. I wonder how easy that would have been to get that amount of money out of the country in the days of the drachma .
Quote:
Originally Posted by svenM
Mind these words:And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name. Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six. Revelation 13:16-18
You don't know what that means. Paper (fiat) money didn't exist when that was written. When credit cards became more common, that bible verse was cited. If Sweden is trying to eliminate most of their currency (they are down to about US$700 in banknotes per person today), but that doesn't mean Sweden is more vulnerable to the beast. The USA is circulating well over a trillion dollars in Benjamins. Do you think that if we reissue the $500 and $1000 banknote that the country will be free of global currency manipulation?
Back in the 19th century as paper currency was becoming more commonplace, there was a proposal to print an expiration date on the banknotes. Even back then, they understood about the government's desire to keep money moving.
Last edited by PacoMartin; 08-23-2016 at 06:42 PM..
Why are Europeans willing to give their freedom away so easily? Once there is no cash, you can be broke with the click of a mouse. At that point, you are fully owned by your government. You would be well advised not to be so trusting.
Aside from that, what happens in times of natural disaster, war, power failures?
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