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PanHAM
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RE: 500€ Bill Could Be Eliminated

Thu Feb 18, 2016 12:34 pm

Quoting N1120A (Reply 49):
German privacy laws aren't going to allow them to do much data mining.

The customers allow that themselves, signing the contract conditions unrestricted. Especially those Lemmings who take up rebate Cards are happy suckers.

Eliminating cash would make them even more vulnerable
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N1120A
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RE: 500€ Bill Could Be Eliminated

Thu Feb 18, 2016 12:40 pm

Quoting PanHAM (Reply 50):
Especially those Lemmings who take up rebate Cards are happy suckers.

Loyalty cards are much more insidious for data mining purposes.
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MD11Engineer
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RE: 500€ Bill Could Be Eliminated

Sat Feb 20, 2016 12:27 pm

An article about how the abolishment of cash as a state guaranteed currency would make the population completely dependent on the commercial banks, which would then have a monopoly on monetary transactions and could impose fees as they wished (in German):
http://www.tagesspiegel.de/meinung/b...nsystem-ausgeliefert/12990202.html

Jan

Edit: Link made workable

[Edited 2016-02-20 04:45:21]
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larshjort
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RE: 500€ Bill Could Be Eliminated

Sat Feb 20, 2016 12:30 pm

Quoting MD11Engineer (Reply 52):
An article about how the abolishment of cash as a state guaranteed currency would make the population completely dependent on the commercial banks, which would then have a monopoly on monetary transactions and could impose fees as they wished (in German):

Another issue is when the card systems breaks down. That happens at least a couple of times a year here in Denmark where you cannot use cards, some times for up to 8-10 hours. There is a push in Denmark to go cashless, especially from the merchants.
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Tugger
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RE: 500€ Bill Could Be Eliminated

Sat Feb 20, 2016 4:12 pm

Quoting fr8mech (Reply 42):
teach the kids about fiscal reprehensibility.

  I think this is about all many people teach their children (in the USA at least).   

Quoting N1120A (Reply 51):
Quoting PanHAM (Reply 50):
Especially those Lemmings who take up rebate Cards are happy suckers.

Loyalty cards are much more insidious for data mining purposes.

But how else will you get free miles or cash back etc? People like free stuff, and they never seem to understand the truth in "when something is offered for free YOU are the product".

Tugg
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HALtheAI
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RE: 500€ Bill Could Be Eliminated

Sat Feb 20, 2016 7:36 pm

There's a great article in the NY Times from a decade ago on North Korean counterfeiting: No Ordinary Counterfeit. A quote from the article: "He recalled looking at the back of a $100 supernote under a magnifying glass and noticing that the hands on the clock tower of Independence Hall were sharper on the counterfeit than on the genuine."

The US $100 bill was redone a few years ago in order to try to foil them.
 
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Aesma
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RE: 500€ Bill Could Be Eliminated

Sun Feb 21, 2016 1:36 am

Quoting MD11Engineer (Reply 52):
An article about how the abolishment of cash as a state guaranteed currency would make the population completely dependent on the commercial banks, which would then have a monopoly on monetary transactions and could impose fees as they wished (in German):
http://www.tagesspiegel.de/meinung/b...nsystem-ausgeliefert/12990202.html

Jan

Edit: Link made workable

The thing that will prevent banks from doing this is not the existence of cash, it's the existence of competition between them.
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777Jet
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RE: 500€ Bill Could Be Eliminated

Sun Feb 21, 2016 5:28 am

In a few more years, after refugees have taken over the EU, nobody will need the 500€ bill because very few people will have that much money   
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tommy1808
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RE: 500€ Bill Could Be Eliminated

Sun Feb 21, 2016 7:21 am

Quoting Tugger (Reply 54):

But how else will you get free miles or cash back etc? People like free stuff, and they never seem to understand the truth in "when something is offered for free YOU are the product".


:D
Best regards
Thomas
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ikramerica
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RE: 500€ Bill Could Be Eliminated

Sun Feb 28, 2016 6:19 am

Quoting N1120A (Reply 49):

I'm overstating nothing. Places where I use cash don't want large bills. For me carrying even $50s is problematic.

The only time I have larger bills is to pay tradesmen who prefer cash. As long as I get a receipt I don't care why they prefer cash...
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Pellegrine
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RE: 500€ Bill Could Be Eliminated

Sun Feb 28, 2016 7:28 am

To me in the USA $100 is not very large at all. Sometimes when I go shopping I spend 5k or more. Sometimes I like to use cash. I mean if I go to Neiman Marcus a pair of casual cotton shorts might be $200, a pair of linen ones $500. They sell Brioni suits, furs, casual and dress shoes easily from $500-$2,000 each. Yeah I use debit/credit cards, but all cash spending isn't illegal. A nice dinner out with three friends can cost upwards of $1,000. More than 15-20 bills in my billfold makes it feel stuffed.
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MD11Engineer
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RE: 500€ Bill Could Be Eliminated

Sun Feb 28, 2016 8:31 am

Tomorrow I'm going to sign the renting contract for a small flat in FRA, due to me having a new job.
The landlady already told me that she wants the deposit (about 1000 Euros) in cash. Of course I will insist on a receipt. She, on the other hand HAS the money the moment I give it to her, unlike a cheque, which can bounce, or a credit card payment, which can be cancelled. Besides the fact that she most likely doesn't have the facilities for using a card.

Jan
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ikramerica
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RE: 500€ Bill Could Be Eliminated

Thu Mar 03, 2016 5:57 am

One reason small restaurants don't want $100 bills is because if it is fake, they are out the food PLUS the change they make. If they are paid with a bad $20 all they are out is the food.

Quoting MD11Engineer (Reply 61):

In USA you usually use cashier check or cash for this too.
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tommy1808
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RE: 500€ Bill Could Be Eliminated

Thu Mar 03, 2016 6:20 am

Quoting ikramerica (Reply 62):

In USA you usually use cashier check or cash for this too

In Germany we usually use Kautionssparbücher for that, a savings bank book that still belongs to you, if the landlord withdraws money, the bank informs you, and you can't withdraw without having the book and a form from your landlord.

Since the 70s and the RAF cash transactions with appartments tingle terrorism senses. Renting is probably the only area where Germans on average don't like cash.

Best regards
Thomas
Well, there is prophecy in the bible after all: 2 Timothy 3:1-6
 
PanHAM
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RE: 500€ Bill Could Be Eliminated

Thu Mar 03, 2016 7:39 am

That is, in Enmglish, a savings account for the rent deposit with limited Access. The booklet in fact remains with the tennant but he cannot withdraw the Money withour written consent of the landlord.Safest way to di it. If you pay cash for a rent deposit, which is usually 3 months rent, you may never see the Money again. But, in today's market, you may not have a Chance to avoid cash.
Was Erlauben Erdogan!!!
 
IMissPiedmont
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RE: 500€ Bill Could Be Eliminated

Fri Mar 04, 2016 9:44 am

And also, cash is the most secure thing you can have - because you know what happens when somebody else gets his hands on the cash. A (credit) card, on the other hand, depends on the PIN code, the implementation of its security, if signatures can be falsified...you can't be totally sure what happens when you lose the card. If it was "secure" as cash, you would not need to call the card's issuer's customer service to have the stolen card voided.

And this may be the funniest thing I will read this month. I hope it was a joke. Please say it was a joke.
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Kiwirob
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RE: 500€ Bill Could Be Eliminated

Fri Mar 04, 2016 7:42 pm

Forget this just eliminate cash altogether, there's no need for anyone to use cash, I'm almost entirely cash free and have been for 15 years or so. You don't need to use cash in Norway or New Zealand, I've not come across a retailer in either country who doesn't take cards regardless of the purchase price.
 
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Dreadnought
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RE: 500€ Bill Could Be Eliminated

Fri Mar 04, 2016 10:08 pm

Quoting kiwirob (Reply 66):
Forget this just eliminate cash altogether, there's no need for anyone to use cash, I'm almost entirely cash free and have been for 15 years or so. You don't need to use cash in Norway or New Zealand, I've not come across a retailer in either country who doesn't take cards regardless of the purchase price.

And what if, for whatever reason, your account is blocked? Your bank has been caught doing some hanky panky and investigators shut down all accounts while they sort it out - it's happened before. Or your ex-wife has convinced a judge to freeze your assets for some reason. That's happened too. Or there is a national liquidity crisis - ask the Greeks. Or the IRS decides that they don't like you and orders your accounts locked up - that's been documented thousands of times where your assets are frozen, and you are coerced into a bad deal with the IRS, just to keep from being left out on the street penniless.

As a rule in my family, since at least my great-grandparents' time we have always had a habit of keeping enough cash/gold in a safe at home to be able to live for at least a few months (including rent payments etc) if the need arrives. We call it "Fuck You Money". If such a situation did arise, we'd at least have a few months to sort things out.
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Kiwirob
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RE: 500€ Bill Could Be Eliminated

Sat Mar 05, 2016 9:24 am

I'm not concerned by any of the above, I don't live in the US, I've never heard of any of that happening in Norway where I do live. Cash is an outdated concept the sooner it's gone I think the safer we will always be. It's a bit difficult being a criminal when there is no cash.

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