UK Finance (uk.finance) Discussion about Finance issues in the UK.

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Old December 9th 17, 01:12 PM posted to uk.finance,alt.conspiracy,uk.politics.misc
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Default Money with expiry date

What if my salary expired after 90 days? I would have to spend, invest,
or lose the money, saving is not an option. With elecronic cash, it
would be possible to track each pound and give it a date after which it
would no longer be valid.

An advantage of this is that the currency could be gold backed
(cheating?) or limited by maths (* la bitcoin). However GDP should go
up, creating employment, since the velocity of the money should
increase. Investing would be an option, helping business to grow.

Something like this may be needed with universal income, to make sure
the money is spent. Inflation is one way to get people to spend, but
always ends badly.

There are some practicalities. E.g. money between individuals would
still expire, but money paid by a medium/large business into a bank
would get a new 90 day start.


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Old December 9th 17, 03:21 PM posted to uk.politics.misc,uk.finance,alt.conspiracy
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Default Money with expiry date

On 9/12/2017 10:12 PM, Dave wrote:
What if my salary expired after 90 days? I would have to spend, invest,
or lose the money, saving is not an option. With elecronic cash, it
would be possible to track each pound and give it a date after which it
would no longer be valid.


It's called inflation, Your Honor! The usual assumption is 5% annually.

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Old December 9th 17, 07:03 PM posted to uk.finance,alt.conspiracy,uk.politics.misc
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Default Money with expiry date

On Sat, 9 Dec 2017 14:12:12 +0000, Dave wrote:

What if my salary expired after 90 days? I would have to spend, invest,
or lose the money, saving is not an option. With elecronic cash, it
would be possible to track each pound and give it a date after which it
would no longer be valid.

An advantage of this is that the currency could be gold backed
(cheating?) or limited by maths ( la bitcoin).


Yes, either, or both, could be used, but would this be a
requirement?
And currency could be backed by gold now. It wouldn't require it
be electronic. I don't see it happening, however.

However GDP should go
up, creating employment, since the velocity of the money should
increase. Investing would be an option, helping business to grow.

Something like this may be needed with universal income, to make sure
the money is spent. Inflation is one way to get people to spend, but
always ends badly.

There are some practicalities. E.g. money between individuals would
still expire, but money paid by a medium/large business into a bank
would get a new 90 day start.


A problem I see is with gifts. If I should gift X amount to a
person or charity, does the expiration date change?
If I give my children X amount each week as an allowance, are
they required to spend it within the time allotted me, or do they get
a fresh 90 days. What if one child wishes to buy the newest game
console and opts to save up to buy it. To reach the required funds, it
will take them 120 days. If the money expires at 90 days, they will
never be able to reach the amount needed.
The same could apply to a charitable organization. Charity "A"
may wish to help in the purchase a specific medial device for a local
hospital. In order to reach the amount needed to meet the finical
burden they have, it might take six months with standard donations.
But they can never reach that level due to the money expiring after 90
days, or less, of the gifted money being received.
There would be some real advantages to expiring money. You point
out GDP. But there would be a lot of disadvantages that diminish any
advantages.

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Old December 10th 17, 07:06 PM posted to uk.finance,alt.conspiracy,uk.politics.misc
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Default Money with expiry date

On 09/12/2017 20:03, KWills Shill #3 wrote:
On Sat, 9 Dec 2017 14:12:12 +0000, Dave wrote:

What if my salary expired after 90 days? I would have to spend, invest,
or lose the money, saving is not an option. With elecronic cash, it
would be possible to track each pound and give it a date after which it
would no longer be valid.

An advantage of this is that the currency could be gold backed
(cheating?) or limited by maths ( la bitcoin).


Yes, either, or both, could be used, but would this be a
requirement?
And currency could be backed by gold now. It wouldn't require it
be electronic. I don't see it happening, however.

The problem with FIAT money is that someone gets the idea that more is
better, and it ends badly with bubbles and inflation. The problem with
gold standard money is that the rich and powerful get to accumulate the
money, and everyone else is at subsistence level to serve their needs.
However GDP should go
up, creating employment, since the velocity of the money should
increase. Investing would be an option, helping business to grow.

Something like this may be needed with universal income, to make sure
the money is spent. Inflation is one way to get people to spend, but
always ends badly.

There are some practicalities. E.g. money between individuals would
still expire, but money paid by a medium/large business into a bank
would get a new 90 day start.


A problem I see is with gifts. If I should gift X amount to a
person or charity, does the expiration date change?
If I give my children X amount each week as an allowance, are
they required to spend it within the time allotted me, or do they get
a fresh 90 days. What if one child wishes to buy the newest game
console and opts to save up to buy it. To reach the required funds, it
will take them 120 days. If the money expires at 90 days, they will
never be able to reach the amount needed.
The same could apply to a charitable organization. Charity "A"
may wish to help in the purchase a specific medial device for a local
hospital. In order to reach the amount needed to meet the finical
burden they have, it might take six months with standard donations.
But they can never reach that level due to the money expiring after 90
days, or less, of the gifted money being received.
There would be some real advantages to expiring money. You point
out GDP. But there would be a lot of disadvantages that diminish any
advantages.

Whereto? Maybe someone can get a prof. to sponsor a paper about this.
The possibilities of electronic money are not just negative interest rates.




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