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To: EBH

is this a step towards replacing currency altogether?

If the old notes are no longer legal tender, that sure is a strong incentive to deposit into the bank, or spend it.


2 posted on 09/25/2022 8:46:49 AM PDT by Dilbert San Diego
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To: Dilbert San Diego
is this a step towards replacing currency altogether?

It is step towards flushing out the underground economy. Drug dealers, gangs, and the occasional "I don't trust the banks" hoarders will have to exchange their paper notes for the new polymer ones, which will then raise the issues of "where did you get £$100,000 in £50 notes?

5 posted on 09/25/2022 8:51:04 AM PDT by Yo-Yo (Is the /Sarc tag really necessary? Pray for President Biden: Psalm 109:8)
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To: Dilbert San Diego

They are going to a polymer note? Seems odd, but maybe a transition step to gain trust?


6 posted on 09/25/2022 8:51:52 AM PDT by EBH ( 1776-2021 May God Save Us.)
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To: Dilbert San Diego

How many people will be robbed by the Bank’s action?
These types of actions are designed to punish people who don’t trust banks and governments so keep significant money at home.


7 posted on 09/25/2022 8:53:46 AM PDT by hoosierham (Freedom isnt free)
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To: Dilbert San Diego

“Polymers, known for their flexibility, are an important ingredient in many plastics. The Bank of England said polymer notes tend to be cleaner. They are also water resistant and harder to fake because the laborious manufacturing process is likely to put off counterfeiters”

https://www.washingtonpost.com/world/2022/06/24/uk-banknotes-paper-polymer/

Isn’t plastic made from fossil fuels?


8 posted on 09/25/2022 8:54:33 AM PDT by V_TWIN (America...so great even the people that hate it refuse to leave)
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To: Dilbert San Diego

no, they’re getting rid of the paper versions for the more durable polymer version

i’m sure there’s also more security features in the polymer version.

in the US, the federal reserve, a private non-govt agency, is considering crypto as a replacement for physical cash, which is currently printed by the treasury. this would be a replacement of decentralized currency in favor of a centralized, fully tracked, fully controlled, currency.

(this should never be allowed and would be unConstitutional)


21 posted on 09/25/2022 9:25:03 AM PDT by sten (fighting tyranny never goes out of style)
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To: Dilbert San Diego

is this a step towards replacing currency altogether?

******************************************

Probably not, I remember reading somewhere the America was the only country that has never canceled any of their currency.
When we make new bills, the old ones are still good. I guess that is why we are the reserve currency,


32 posted on 09/25/2022 10:01:24 AM PDT by kara37 ( )
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To: Dilbert San Diego

I would imagine if the US did the same with $100 bills, there would be a lot of problems from around the globe.

You want to hurt the drug trade? Make their stashed currency worthless.


39 posted on 09/25/2022 10:56:12 AM PDT by Vermont Lt
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To: Dilbert San Diego
There are real banknites being issued. Money is plastic but real money.


Of course Charles will replace his mum on any new money
45 posted on 09/25/2022 1:01:43 PM PDT by BigEdLB (Let’s go Brandon!)
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To: Dilbert San Diego
I think you can exchange paper for polymer one-for-one.

Paper on the left, polymer on the right.

46 posted on 09/25/2022 1:48:40 PM PDT by Lonesome in Massachussets (Forsan et haec olim meminisse iuvabit.)
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To: Dilbert San Diego

No, old obsolete notes have always had their legal tender status removed once sufficient new notes have been issued. This is nothing new.

Be a sad day for me when the final banknote featuring Queen Liz is removed from circulation a few years down the line.


49 posted on 09/25/2022 5:27:58 PM PDT by sinsofsolarempirefan
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