Do Politicians Make Too Much Fuss About Currencies?
The Needs Of People
I travel extensively across Europe and after trips like my Home Run From Krakow or my Home Run From Stockholm, I end up with a walletful of assorted zlotys, crowns etc.
But it won’t always be like that, as increasingly contactless cards and smartphones will take over from cash. How long will it be before a lot of public transport in the world uses the London model, where you just touch and go?
So I suspect cash will become very much a method of payment that will not bother visitors.
Other developments will also help.
1. Using Coins
Vending machines, toilets, left luggage lockers and other places that need small cash payments will get intelligent and probably respond to the local currency and a selection of others, like one and two euros, pound coins and dollar quarters.
So a visitor to Europe, would just make sure they topped up their one euro coins.
2. No-Commission on Credit Cards When Used Abroad
The credit card I use abroad, is a Nationwide Select Credit Card and this page on their web site, describes its use abroad. And so far, they’ve done what it says on the tin.
As the card was recommended by one of the Personal Finance Experts on the BBC, it can’t be that much of a con.
All credit cards should be like this!
3. Late Rooms et al.
On my trip to Poland, I used lateroom.com to book accomodation and some of the hotels were paid in zlotys. But I paid in advance in Pounds Sterling.
All of these systems are giving both the seller and the purchaser a bill in the currency they want.
Summing Up The Needs Of People
All people want is a system that buys that drink, meal or rents that room or sun lounger giving them a good rate with no hassle.
The Needs of Business
When it comes to business, I’ve just paid two overseas bills using SWIFT from my Nationwide account. I got charged £20 for each one, which was a bit steep in my view, but these days you can transfer money pretty easily.
The Greedy Bankers
So I come to the conclusion, that on a small transaction basis and that probably means anything under a couple of grand, transactions should be possible on what we have today.
Just look at what you can do with PayPal and an eMail address.
But would greedy bankers and their friends in Central Banks allow multi-currency transactions to become the norm for money transfer between consenting adults or companies?
The Innovators
Just look at how finance has changed in the last few years.
Nothing is cast in stone and who’s to say what will be the financial flavour of 2016.
Every problem is an opportunity for an innovator. And this type of disruptive innovation often hurts established players!
Summing Up The Needs Of Business
A business just wants money transferred to a client or supplier at the best rate instantly, for the lowest possible commission.
So Who Needs A Single Currency?
The only advantage of a single currency like the euro or the dollar, is that you know easily what you are paying and that accounts and paperwork are simpler.
Politicians also say it creates jobs as it encourages industries like tourism.
It may do, but the UK gets masses of tourists and not being in the Eurozone doesn’t seem to be a problem. Visitors are happy to use their credit cards or prepay for everything in their own currency, so it probably illustrates that if you have a good product, then the tourists and money will roll in.
I think it is probably true to say that politicians also like a single currency as it’s a big idea, with which they might leave their mark on history.
I was probably in favour of a single currency for Europe at one time, but I think now, that so many innovations will get round the rules and create lots of jobs, that it is rather an outdated concept.
I much prefer a simple process that allows me to spend pounds everywhere with the best exchange rate and no commission.
In some ways this will be an unrealistic idea, as politicians will protect their useless banks.
But they will have to legislate a ban to stop it.
Remember that politicians don’t understand new technology. Look at the mess they;re all in over Uber.
The Dreadful Wall Cabinets Are Down
This morning I took the dreadful cabinets off the wall in my kitchen, with some help from a friend.
Now it is time to start phase two.
Note the crude hole in the wall on the right. Luckily the house is too new to find asbestos.
Where’s The 33cl. Bottles?
I generally carry a 33cl. bottle of water in my shoulder bag, as this is the smallest size I can buy that is useful. I should say that I don’t believe in carrying excess weight either on, in or about my body. It’s usually Evian, as that is the only small one readily available. So I was surprised to see this promotional display in Sainsbury didn’t feature the small bottle.
Evian Promotion In Sainsburys
I would have thought that in this hot weather, a promotion based on small bottles would have been a good idea.
At least I can buy small bottles in dozens in Waitrose and probably other places, whereas in Europe, there was nothing smaller than the half litre anywhere.
A Police Car With 330,000 Miles On The Clock
At the commemoration for Prederick Parslowe the police brought along a couple of old police cars.
The Morris Minor was immaculate and had a genuine 330,000 miles on the clock. Apparently they own half-a-dozen, which get brought out for public relations purposes. One officer told me, that they’ve also got a couple of preserved Velocette LE‘s.
Tribute To A Hero
At the War Memorial on Islington Green today, there was a tribute to the bravery of Frederick Parslowe, who saved his ship in the Great War, but was killed in the action. He was postumously awarded the Victoria Cross.
According to this article in the Islington Tribune, a commemorative paving stone is being unvieled as part of the hundredth anniversary commemorations for the Great War.
Asking The Oracle At Delphi For Help On The Greek Bailout
In the on-line copy of The Times, in an article on the latest episode of the Greek Bailout saga, there is this reader entered comment.
I have just texted the Oracle of Delphi re the referendum. I have had a most impressive and quick response from one of the delightful ladies of Apollo Land.
As you know, I cannot give my answer until the seventh of this month but the gut feeling here at the Shrine is that the “No’ might just win. People must remember that the Islanders are dead worried that their special low rates of VAT will be increased to mainland levels. The good folk of Rhodes and Crete are especially annoyed as they were told pre the most recent General Election by this Tsipras Johnny that no fiddling with the Islanders VAT would take place.
Our political wing has for the last three thousand years advocated making the larger Islands self sufficient – do you think the IMF will consider a loan for this much needed independence? And here’s another suggestion – the EU’s migrant problem could be solved by dumping the poor b….ers on one or more of the many uninhabited Islands and use them as cheap labour to reclaim the land to grow fruit and veg and the profits used to pay back our debt.
Surely, if the Oracle at Delphi gave good advice the Greeks wouldn’t be in the financial mess they undoubtedly are.
A Touch Of The Battersea
The Times has a report today about a web site called sexymp.co.uk, which is searching for the sexiest MP.
I gave it a try and all the MPs I was shown to judge, had rather a touch of The Battersea about them!
Is The BBC Dropping Its Dress Standards?
I clipped this picture of sports reporter, Sally Nugent on BBC Breakfast this morning.
Sally Nugent On BBC Breakfast
I couldn’t quite get a picture that showed the striped shorts fully.
Why not?
After all recently, in an article on a swimming pool, the presenter (male!) was persuaded to strip off and do a report from the water.
Are We Doing Enough To Combat The Real Terrorism Problem?
Over the years, I’ve met people in all walks of life that deal with terrorism and crime in general. So I like to think I have a good insight into it.
The United States will claim it hasn’t had any terrorist attacks since 9/11, but isn’t the dreadful attack on the congregation of the church in Charleston headlined in this BBC article as Charleston church shooting: Nine die in South Carolina ‘hate crime’, nothing more than a similar attack to the one on the innocent sunbathers in Tunisia.
The links between the two crimes are the twisted motivations of the perpetrators and the easy availability of guns, that can fire large numbers of bullets.
One of the reasons, we have not had a deadly gun attack in this country, since the Dunblane and Hungerford massacres, is that it is just too difficult to get a deadly weapon like a Kalashnikov in this country. I don’t think we’ve even had an incident in recent years involving such a gun, where perhaps gangs of drug dealers are settling an argument.
But are we doing enough to keep these deadly weapons out of the UK?
As an engineer with extensive knowledge of modern manufacturing techniques, I believe that it is now possible to create a workable machine gun, that was mainly created on one of the new industrial 3-D printers, with perhaps a few small metal parts smuggled through border controls. I should also say that I know of a manufacturer, who posts and receives specialist stainless steel parts through the post from all over the world.
After all, this report on the BBC describes how nutters in Texas have created a gun that fires using a 3-D printer.
I believe it won’t be long before someone creates a set of plastic parts, which when put around the working parts of an assault rifle create a gun that can be fired by any suicidal terrorist.
There is no defence against such a weapon getting onto the streets through this method.
I’m pretty sure that someone is working on doing it. Probably in the United States, where it seems that owning an assault rifle is something that many want to do. But then adding sense to the gun laws of the United States, is as difficult as making a serious alcoholic or heavy smoker see sense.
A Birthday Card For An Eighty-Year-Old Widow
I sent a card to an eighty-year-old widowed friend in Scotland yesterday.
A Birthday Card For An Eighty-Year-Old Widow
Usually, I buy cards in Oxfam, but they didn’t have anything. In fact the choice was very limited. If you can’t read the badge, this is a close-up.
The Badge In Close-Up
I hope the Royal Mail gets it there in time.
The Anonymous Widower 