Sunday, 27 October 2019

Be careful what you wish for.


Back in the 80s, being paid was an exciting day. Usually Thursday or Friday, and at a specific time in some companies. You would stand in line, or some would be handed out on the shop floor, a brown paper envelope with your hard earned cash inside.The first thing you would do is count it, just to make sure they got it right,then, the list. 

£11 save for mortgage
£6 food
£1.70 bus fare
£1.50 gas
£1.10 elec
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£21.30
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That leaves £6.20 to have a beer, or a take away, or maybe a new T-shirt? I would have to go down to the bank to deposit some of that to cover the direct debits.Back then, a beer was 70p, a mortgage was £45pcm, and the average house cost just 11k. Moving towards the 90s, the companies offered those who wanted it, the chance to have your wage paid directly into your bank. The old hands were against it, and wanted money in their hands, they did not want their wife to find out how much they were spending on beer.The younger generation were excited by the thought of getting their hands on a cash card.The older generation said cash is king, and don't let them take it from you,possession is nine tenths of the law.

After this country has made 1000s of banking millionaires, I think the old guys had a point. Power corrupts, and seeing billions in front of their eyes, and having the power, the bankers robbed the public. This would never have happened if we were paid in cash.

I hear talk of moving towards a cashless society? This would give them ultimate power, and that scares me.

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