What if you want a car that costs 21000£? They're going to have to come up with small paper or metal chits to represent the transfer of wealth greater than the maximum cap.
Maybe something official-looking with the king's face on it or something. They could preprint these promissory notes and label them in common denominations so that no matter the value you are trying to represent, there will be a combination of paper slips and metal wafers that total to the correct amount...
When people say "own nothing and be happy," I think of my mother who would say "eat it and be happy" when she made something I didn't like. I look at it as a "polite" version of "tough shit."
You can’t buy cars. You’re only allowed to rent it or lease.
And don't forget in the length of the term of the lease or rental you've spent enough where you could have bought three vehicles in the days of actually owning stuff.
You need to think more deeply about this. This is probably due to some technical, legal, or risk management issue, in regards to their beta.
If you were going to do this as a form of social control, you would institute restrictions LATER, after everyone has already bought in.
In fact, this sounds like a good way to ensure that it fails.
Good luck “converting” people into a new system when you just ruled out converting 99.99% of the money out there.
CBDCs are bad and will be used for social control… but that’s not what this story is about.
Think logically: In order for CBDCs to become a thing, all existing money will have to be converted. They won’t need caps like this because they can just turn your money off or control what you can use it for.
Oh well. Doesn’t matter. No one will do a single thing to stop this.
revolution or bust coming up i feel
They haven’t revolted over anything in over a century. Why would they?
there will never be another time better for revolution than coming up tbh
What if you want a car that costs 21000£? They're going to have to come up with small paper or metal chits to represent the transfer of wealth greater than the maximum cap.
Maybe something official-looking with the king's face on it or something. They could preprint these promissory notes and label them in common denominations so that no matter the value you are trying to represent, there will be a combination of paper slips and metal wafers that total to the correct amount...
You can’t buy cars. You’re only allowed to rent it or lease.
Same with flats and houses.
One of the reasons for the limit: Solves the prosit ownership.
You will own nothing and be happy …
… and easily banned for wrongtweet or wrongthink.
i think we will all own nothing and be miserable tbh with ya. not happy
When people say "own nothing and be happy," I think of my mother who would say "eat it and be happy" when she made something I didn't like. I look at it as a "polite" version of "tough shit."
And don't forget in the length of the term of the lease or rental you've spent enough where you could have bought three vehicles in the days of actually owning stuff.
Therefore keeping you poor..
Oh, right!
How come I’ve missed it!
You’re right.
By limiting my bank account capacity to 20,000 they save me from myself. If I can’t own 300,000 - I can’t spend 300,000, that why my 19,999 are safe!
I should be in jail for trying to reinvent currency. They are merciful masters for letting me even say it.
You need to think more deeply about this. This is probably due to some technical, legal, or risk management issue, in regards to their beta.
If you were going to do this as a form of social control, you would institute restrictions LATER, after everyone has already bought in.
In fact, this sounds like a good way to ensure that it fails.
Good luck “converting” people into a new system when you just ruled out converting 99.99% of the money out there.
CBDCs are bad and will be used for social control… but that’s not what this story is about.
Think logically: In order for CBDCs to become a thing, all existing money will have to be converted. They won’t need caps like this because they can just turn your money off or control what you can use it for.
Surely THIS will cause the Brits to revolt. Shirley.
https://www.bankofengland.co.uk/speech/2023/february/jon-cunliffe-speech-at-uk-finance-update-on-central-bank-digital-currency?utm_source=Bank+of+England+updates&utm_campaign=8efc0a0ae5-EMAIL_CAMPAIGN_2023_02_07_03_51&utm_medium=email&utm_term=0_-8efc0a0ae5-%5BLIST_EMAIL_ID%5D
first hyperlink in the text from the link of twitter.