Brexit never? Britain can still change its mind, says Article 50 autho

pnewortham

Forum Patron
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To a certain extent, that happened here - during the bank closure and capital controls, an electronic Greek Euro effectively became lower in value than any other Euro because you could not send it out of the country, even though it still appeared on my bank statement as a normal Euro.

Would not surprise me to see your prediction come into being - it certainly won't benefit us at the bottom of the food chain, that's for sure.
South Africa too. Sort of. Certainly in terms of realising the value of your money and getting it out of the country.
 

Sepp Blatter

Liz Truss Groupie
Patron
South Africa too. Sort of. Certainly in terms of realising the value of your money and getting it out of the country.
Yup - once there are restrictions, problems arise.

I remember that there were investors here offering to buy Greek Euros from people for less than face value, knowing that they could sit on them until the controls lifted, paying for them in standard Euros held outside the country.

For some Greek businesses who had to pay foreign suppliers etc., they had no choice but to take the hit. A ridiculous situation.
 

LostinSpace

Exile
Staff member
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I get a new credit card every year.

My season cards are always bought with a 0% purchase card and paid off during the 10 months of the season.

You have to make them work for you.
The 0% is never zero though, the “handling charge“ is higher than a savings acc interest rate.
 

northender0602

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I am very wary of electronic money after the EU showed that it would happily stop you taking out your own money or even seize it from your bank account.

Much prefer cash - but, they brought in laws stating that some transactions have to be by card/electronic. Seems to be the way things are going.
I would never buy into crypto currency/ bitcoin stuff don’t know what the difference is but flick a switch and you are wiped out is how I see it.
 

northender0602

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You could imagine that the 'cash' you believed you had in the bank could in future get treated like bonds where the statement you receive through the post specifies the bond value, but lower down you see a lesser surrender value. With the central bank determining on any day what market value adjustment plus charges they would apply to cash withdrawals.
That’s it, it’s going under the bed
 
OP
raefil

raefil

Dolly Patron
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It really, really didnt have to be like this.

Brexit is one big fuck up, not because it couldnt have worked, it could have, but because of the Tories.


Its not going to work until we get a govt that understands negotiation is about compromise.
 

pnewortham

Forum Patron
Patron
You could imagine that the 'cash' you believed you had in the bank could in future get treated like bonds where the statement you receive through the post specifies the bond value, but lower down you see a lesser surrender value. With the central bank determining on any day what market value adjustment plus charges they would apply to cash withdrawals.
It's an interesting point this, a bit like when you sell your gift vouchers online, you might be offered £7, but never the full £10.

Slightly different than the situation for real cash, but it does show that the face-value of the thing is really just a notional idea.
 
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