The money we use is not legal tender

[Aspergers_Aspie]

The money we use where I live is not legal tender, here is why. I wonder if everyone knows this

 

[Outdated]

I never knew Scotland had it's own notes, I just always assumed they were using Pounds Sterling. And they're still made of paper too which would make anyone not aware of them very suspicious. Most modern countries these days use plastic money, Australia started the trend and we now print the bank notes for about a dozen other countries including the UK and Europe.

 

[Judge]

Shucks, and to think I was saving this bad boy for a rainy day!

 

[Dagan]

No system of money works outside of just a societal belief that it does. Same goes with all rules, laws, etc. Belief is the ultimate (and only true) enforcement of anything "working."

If everyone would finally, suddenly just wake up tomorrow and stand firm that they alone should decide their worth and what everything else should be worth, everything about money systems would crash.

Stocks are even worse because that's nothing but "projected worth" that happens to get "insured" by a financial institution to back it up. Literally all of the numbers of up and down worth that you can see daily with stock markets are seriously just what people do or don't believe it's worth from one minute to the next.

Worse is when you realize that the only folks who enforce (with guns, badges, authority, etc.) any forms of class and wealth...only do so because they are getting "paid" to do so.....meaning that they have bought in hard and believe it more than most. Those are the most dense and most dangerous of them all - those who enforce the nonsense. All of it coming down to the core fact that the elites believe no one else will do any work (for them - that benefits primarily them) unless there is reward (being forms of profit - ie...money). It's nonsense, though. Humans are inherently bound to always do something out of stress in the first place, and if the depression and struggle of class systems and wealth ladders would go away, a crap ton of depression, struggle and negative stress would go away resulting in people actually getting out and doing more. It's incredibly simple. If you want people to work...doing anything at all...don't make them hate it. You still want folks to know what they're doing and talking about correctly, of course, so there would still be proper learning, but do away with debts, stress, class systems and elitism to even be able to do whatever job, and I contend most everyone will want to do them. You want more teachers? Don't make them lower than a doctor. You want more true leaders? Don't make a system full of mistrust, back stabbing, lying, cheating, popularity contests (voting/campaigns) and then some to even partake. Etc. Etc. Etc.

It's really, really stupid, and yet the few of us who hate it are still forced to abide by it because of the masses who like to claim how woke they are...and are honestly just in comas. It's among the greatest insults to intelligence and therefore among the greatest of annoyances.

 

[Judge]

A much simpler explanation, without any political barbs:

"As it stands, businesses throughout the UK are free to choose what form of payment they accept.
There's no Bank of England rules or laws governing what they have to accept - that's why, since the pandemic, some cafes, restaurants and retailers no longer take physical cash whatsoever, they're not obliged to.

The short answer is it is up to them, as businesses outside of Scotland within the UK can decide whether or not they accept Scottish banknotes as a form of payment."

https://www.thisismoney.co.uk/money...Three-shops-refused-Scottish-20-recently.html

​

 

[Outdated]

No system of money works outside of just a societal belief that it does. Same goes with all rules, laws, etc. Belief is the ultimate (and only true) enforcement of anything "working."

Although this is true to a degree, having a legal definition of "money" and a legal framework surrounding it makes a big difference.

"As it stands, businesses throughout the UK are free to choose what form of payment they accept.
There's no Bank of England rules or laws governing what they have to accept - that's why, since the pandemic, some cafes, restaurants and retailers no longer take physical cash whatsoever, they're not obliged to.

Australia is different. Many situations have popped up in recent decades where businesses try to refuse cash and our government steps in and restates the laws loudly and clearly so that everyone understands.

In Australia our money is Legal Tender by law and businesses have no choice but to accept cash if it is proffered. There are exceptions made for some specific business models, ecommerce is a huge part of our economy, but for the most part businesses are obliged to accept cash. Employees can also demand that they be paid in cash if that's their preference.

 

[Judge]

In the US, retail clerks cannot refuse legal tender, (including coins or currency), as payment for debts unless there is a specific state law that allows them to do so.

Seems to me some time back I heard about a defendant who lost a lawsuit and chose to pay the plaintiff in change. Awkward....with a hefty amount of money due the plaintiff. Then again there have been defendants like OJ or DT who simply never pay what they owe, legal tender or not.

 

[Outdated]

Seems to me some time back I heard about a defendant who lost a lawsuit and chose to pay the plaintiff in change. Awkward....with a hefty amount of money due the plaintiff.

We have laws around that too and businesses can refuse payments made in such a way as to be "vexatious". In other words they don't have to accept hundreds of dollars worth of 5 cent coins. Or, they can accept the payment but charge the payer for the time it takes to count said coins.

 

[Misery]

No system of money works outside of just a societal belief that it does. Same goes with all rules, laws, etc. Belief is the ultimate (and only true) enforcement of anything "working."

If everyone would finally, suddenly just wake up tomorrow and stand firm that they alone should decide their worth and what everything else should be worth, everything about money systems would crash.

Stocks are even worse because that's nothing but "projected worth" that happens to get "insured" by a financial institution to back it up. Literally all of the numbers of up and down worth that you can see daily with stock markets are seriously just what people do or don't believe it's worth from one minute to the next.

Worse is when you realize that the only folks who enforce (with guns, badges, authority, etc.) any forms of class and wealth...only do so because they are getting "paid" to do so.....meaning that they have bought in hard and believe it more than most. Those are the most dense and most dangerous of them all - those who enforce the nonsense. All of it coming down to the core fact that the elites believe no one else will do any work (for them - that benefits primarily them) unless there is reward (being forms of profit - ie...money). It's nonsense, though. Humans are inherently bound to always do something out of stress in the first place, and if the depression and struggle of class systems and wealth ladders would go away, a crap ton of depression, struggle and negative stress would go away resulting in people actually getting out and doing more. It's incredibly simple. If you want people to work...doing anything at all...don't make them hate it. You still want folks to know what they're doing and talking about correctly, of course, so there would still be proper learning, but do away with debts, stress, class systems and elitism to even be able to do whatever job, and I contend most everyone will want to do them. You want more teachers? Don't make them lower than a doctor. You want more true leaders? Don't make a system full of mistrust, back stabbing, lying, cheating, popularity contests (voting/campaigns) and then some to even partake. Etc. Etc. Etc.

It's really, really stupid, and yet the few of us who hate it are still forced to abide by it because of the masses who like to claim how woke they are...and are honestly just in comas. It's among the greatest insults to intelligence and therefore among the greatest of annoyances.

Yeah that's pretty much how I feel about it all as well.

Not something I usually talk much about. The resulting "conversations" usually end with me taking a bunch of Advil. What with the headaches and all.

If someone could just invent a freaking teleporter or whatever I could use to get off this stupid planet, that'd be A+ indeed, thanks. Like really someone build a Tardis or something.


On the note of "legal tender", come to think of it, I cant remember the last time I used paper cash for much of anything at all. Heck, when was the last time I even saw any? Not counting the random ones I occasionally find wedged in the back of a drawer or something.

Everyone just wants these stupid cards now.

To be fair though, I've only been to a store like once since March, so....

But even before that, barely any use of actual paper cash for many years now.

 

[Mary Terry]

I always have wads of cash in my wallet but I mostly use a credit card for all purchases because I like the "cash back awards". I carry cash to use in those places that automatically add a surcharge if you use a credit card.

 

[Judge]

I just see the issue of credit and cash as yet another "Kobyashi Maru". A no-win situation.

If I use all my credit resources to make minor purchases, the rating agencies lower my credit rating based on "credit allocation concerns". Forcing me to make small expenditures in cash so my credit doesn't get dinged. Yet when I make large purchases, oh boy...they love that.

They pretend to scold you about spending money, when the reality is that they want you to spend more and more to justify the overhead cost of credit for everyone else. Even when you manage your personal finances over a lifetime.

 

[Outdated]

Most Aussies have a Debit Card, not a credit card. It works the same as a credit card in most cases, websites recognise my card as being Visa, but there's no line of credit attached to that account, it's just a savings account. We don't pay any fees or surcharges for using these cards either, our banks tried that one on early in the 90s and got pulled up short over it.

 

[Mary Terry]

Most Aussies have a Debit Card, not a credit card. It works the same as a credit card in most cases, websites recognise my card as being Visa, but there's no line of credit attached to that account, it's just a savings account. We don't pay any fees or surcharges for using these cards either, our banks tried that one on early in the 90s and got pulled up short over it.

Debit cards are common in the US. I don't have one and will never have one because my legal protections are slim to none if someone steals my card or my account number and withdraws money from my bank account. You can kiss your money goodbye. Credit card laws provide much greater protection to consumers than banking laws related to debit cards. No fees or surcharges are imposed for debit cards here.

 

[Outdated]

I don't have one and will never have one because my legal protections are slim to none if someone steals my card or my account number and withdraws money from my bank account. You can kiss your money goodbye.

Here we have all the same protections for debit cards as we do for credit cards and if a dispute looks genuine the banks will credit that money straight back in to your account then investigate the situation properly afterwards.

 

[Dagan]

I didn't intend political barbs. My bad. I was just being 100% honest and pointing out what I see going on.

Per the fact that legal tender is about pointless, yeah, let's look at the belief put behind cards (basically just the 1s and 0s, now). That's a way bigger leap of belief and trust going on, and yeah, it's made clearer when someone can hack my "money" to actually purchase thousands worth of TVs and stuff, only for the banks / insurance corps to reset my "numbers" back as they were. Those purchases of things still went through, though, and those items are gone from those stores. Like it doesn't matter, and technically it doesn't due to the process of "writing it off" by the business, akin to it never happening. All good. Just numbers in a construct where folks can make it up as they go.

It's just weird.

Watch the show or play the games - Fallout. Bottle caps are the new "monetary unit." It's what everyone just decided makes sense, and so they continue on with the same construct. Those in power could honestly care less, though, as their true goings on are power "moves" instead of actual "purchases" that affect / decide things for the masses of others. None of it makes full on, baseline logical sense, but it's decided by the many (who can't or don't know better). Oh, well. It is what it is. The only people who ever get close to living their dreams are those who have found a way to stay above and/or be a reason keeping others living more of a nightmare. That is Fallout in a nutshell. It's not exactly that different than our real world.

 

[Judge]

It's just weird.

Agreed, though it's based on a different nation, culture, legal system and economy. One our society chose to break away from a long time ago.

"Different strokes for different folks".

 

[Metalhead]

 

[Jumpinbare]

But even before that, barely any use of actual paper cash for many years now.

I had a "friend" a few years ago who was always borrowing money from me. Somehow he seemed to never get around to paying me back. I chided him once about always "stealing my lunch money". After that, I stopped carrying cash, figuring that when he asked to borrow, I could honestly say I didn't have any on me. After that happened a couple of times, he actually asked if he could borrow my debit card!! I never got back in the habit of carrying cash.