Slight correction: The 500€ denomination is currently being removed from circulation to combat money laundering

@zuighemdanmaar752

7 ай бұрын

In the netherlands you can't even use 100 or up pretty much everywhere. And if you do want to deposit into an bank account you must provide an explanation of there you got it from

@joaovitormatos8147

7 ай бұрын

Still exists tho

@smalltime0

7 ай бұрын

But it looks awesome

@danielwarren3138

7 ай бұрын

Is it still? I remember hearing it was being removed from circulation years ago I assumed they got rid of them all ages ago

@mildlydispleased3221

7 ай бұрын

It is still legal tender.

i am proud to say that my 15 pounds in coins that i have lying around in germany have played their part in this.

@RaccoonHenry

7 ай бұрын

I have a couple more over here in Mexico!!

@rogink

7 ай бұрын

I've probably still got some DMs tucked away. A German customer gave me an old £20 note a few weeks ago - his mother had it from a trip a few years ago. You can still bank them.

@bonaaq86

7 ай бұрын

Yeap, if you tipped here in Spain with pounds, know that I may be holding that change just for the looks of it instead of ever spending it lol

@Ben4A

7 ай бұрын

I got 16.4 in Israel

@reganator5000

7 ай бұрын

Yeah, i think I've got like £1.40 in my leather jacket, which is in my mates basement in rural iceland.

Switzerland has a CHF 1,000 note, which is worth USD 1,100 currently. The laundering instructions are printed on it for convenience.

@SkiDaBird

7 ай бұрын

While Swiss banks certainly earned their reputation, AML laws are actually tighter in Switzerland than the US currently.

@seb_617

7 ай бұрын

Oh I'm Swiss, I know. :) Joking aside, the CHF 1,000 is actually a bone of contention with the US and EU because it facilitates money laundering.

@LeafHuntress

7 ай бұрын

@@seb_617 Uhm, the US & the EU, how can Switzerland be between them?

@tmanepic

7 ай бұрын

Wow, I had no idea, that's gotta be up there as one of the highest purchasing power bills up there, along with the $10,000 Singaporean note (currently worth around 7300 usd)

@aenorist2431

7 ай бұрын

AML Laws are also irrelevant if your entire culture is built around money laundring and crime financing for decades if cont centuries.

Also don't ignore a non-zero rate of loss. Paper money do burn down in fires, destroyed by washing machines, eaten by your dogs, ect. So even a small annual loss rate will slowly accumulate over decades.

@peter65zzfdfh

7 ай бұрын

Fortunately the polymer notes now in use (similar to the ones used in Australia since the early 90s) will survive a spin in the washing machine without damage, and have on rare occasion been turned in for replacement after a house fire, slightly melted….

@danielbishop1863

7 ай бұрын

US banknotes are technically cloth (cotton/linen mixture), not paper, so will survive washing machines.

@EebstertheGreat

7 ай бұрын

@@danielbishop1863 In my experience, it _usually_ survives, but bills can definitely tear in washing machines. If a single tears too badly, you might not want to bother taking it to a bank to exchange it for another single, and it just ends up in the trash or whatever. People also drop wallets in the water or down drains, and small coins especially tend to end up on the street where nobody bothers picking them up and they ultimately make their way to the storm drain. The Fed destroys around 7 billion individual bills every year (most of it smaller denominations, since $100 bills change hands only infrequently), but there's also a lot that gets destroyed outside of their purview in these ways, and obviously they can't track that.

@artbk

7 ай бұрын

Yeah! BTW do you guys know to whom i ask about getting a refund for my 70.000.000 euros my dog ate without leaving any traces whatsoever?

@nlald

7 ай бұрын

My sofa is at least 10% lost coins by volume.

my 70% of Britain’s cash shaped belly:

@tfr

7 ай бұрын

lmao

@riverkath

7 ай бұрын

GET HIM!

@smoov22_sonic

7 ай бұрын

@Good-Enough-Animation I did on Nebula ackshually 🤓

@sammyjones8279

7 ай бұрын

Perfect pfp for this comment

@nekajuii

7 ай бұрын

lmao

3:29 Also £50 notes are not accepted in the majority of British shops, restaurants, cafes, bars, etc. As £50’s were always suspected of being fake. So we have to use even smaller denominations. I’m a Brit in my 40s and I don’t think I’ve ever used a £50 note once.

@SleepyHarryZzz

7 ай бұрын

Tbf I thought this would be a huge issue, but it really isn't. In London at least, I've never had a problem paying in reddies. The worst I has was a "I need to speak to my manager" in KFC, but it was eventually accepted.

@Zveebo

7 ай бұрын

It used to be a lot more of an issue than it is now - partly because modern £50s now have a lot more security features built in. But then again, a lot of places these days in the UK just don’t accept cash full stop, and are card/contactless only.

@oksowhat

7 ай бұрын

in Britain what medium do you guys used for cashless? if visa/mastercard then don't this cut into profits of bussinesses?@@Zveebo

@Lukeasz096

7 ай бұрын

​@@ZveeboI'm not sure how true this is in the whole UK, but certainly London. There are places up north that outright will not take card because of merchant fees etc. Long live cash

@Zveebo

7 ай бұрын

@@Lukeasz096 I live in Scotland, and really about the only places that don’t take card here are Turkish Barbers. Even out in the most rural parts, such at the Highlands and Galloway, lots of places are now card only - partly because there are usually no bank branches anywhere nearby to deposit cash, so dealing with it is actually even more of a pain than in the city. Fees for card usage are now usually well below the costs of handling cash - so that’s not really a driver any more. Getting set up with a card reader to take payments costs almost nothing these days - less than £100.

Fun fact, when Scotland or N.Ireland print their notes, they need to deposit English pounds at the Bank of England. Same with the pounds printed by Danske Bank (yeah as in the Danish stock-traded bank). Even funnier, the Northern Irish pounds aren't legal tender anywhere - they are just readily convertible. Wales was just be happy to be invited to the money print team-up, but doesn't do it nor do any of their banks have licenses to issue their own notes.

@rogink

7 ай бұрын

There aren't any Welsh banks. Scottish notes aren't 'legal tender', so shops don't have to accept them for payment. I think they are legal currency, which is why the likes of RBS and BoS can print notes. Note sure about the NI bank - probably the same as Scottish banks.

@smalltime0

7 ай бұрын

@@rogink Actually I thought Scottish Pounds were legal inside Scotland, turns out you're right they aren't technically legal tender anywhere. Legal tender means that "a debtor cannot successfully be sued for non-payment if he pays into court in legal tender." it effectively means its the official form of payment. But you could theoretically go into a pub that only accepts payment in turnips and refuses BoE pounds too. You're right there are no Welsh banks, but there were Welsh banks before the reform in 2006(I think?), when they would have been able to print - they just never bothered. There are also the dependencies that print and are pegged, but they are not accepted in the UK proper (generally).

@rogink

7 ай бұрын

@@smalltime0 Thanks. I knew the term but not the definition of legal tender. Not sure what reforms you refer to in 2006, but I don't suppose any of the new 'challenger' banks would bother to issue currency, even if based in Scotland/NI. Before the BoE was nationalised after the war some regional banks might have issued their own notes, so I guess that could include a bank or two in Wales, but certainly not since the 1940s.

@greg_mca

7 ай бұрын

Wales gets the royal mint. They're making everyone else's money already

@alastairward2774

7 ай бұрын

And you can use those N Irish notes in self service tills, if the cashiers are getting iffy about taking them.

I think all those £50's are lining the tunnels of HS2.

Have they checked the British Museum? If something is missing it usually ends up there

@pseudotasuki

7 ай бұрын

That only applies to stuff that's missing from other countries.

@teamcoltra

7 ай бұрын

These are British Pounds... they wont show up in the British Museum. Now if you're looking for some Ethiopian Birr...

@sirBrouwer

7 ай бұрын

@@teamcoltra O you can find British Pounds in the museum. At two places they have them very conveniently placed in a drawer. The first place is direct at the entrance of the museum. the second place is at the gift shop. For both you can ask the person sitting by the drawer for it. they might not give it without motivation so. Be ready with some tea.

@the_silent_tortoise

7 ай бұрын

He said missing, not stolen.

@garthkite

7 ай бұрын

You can go see it for free and it gets its own glass case.

According to our data, about 30% is in oversees deposits, 10% is in safes, 20% is in operations, and the remaining 40% is in the hands of rival families.

My local kebab van only takes cash. I hope it's for a a cheeky bit of tax dodging.

@scottanno8861

7 ай бұрын

And avoiding paying Visa 3% on every transaction

@LarryJohnVA

7 ай бұрын

Quite a few smaller establishments here in Virginia charge 4% additional for credit card purchases. There's typically a small sign next to the cash register.@@scottanno8861

Amy always putting in the legwork!

Well I still have a 10 pound note from my England trip in 2016. So I am proud to be a part of Britains missing money :D

£50 notes are often not accepted in places or used by individuals due to it being too tempting to counterfeit, so larger notes certainly arent going to be used in the UK. its also part of the driver for card payments, as theres not need to carry around large sums or note piles of cash

@julianaylor4351

7 ай бұрын

When I see people using £50 bills, I wonder why.

@MonkeyJedi99

7 ай бұрын

And the more we pay electronically, the more our lives can be tracked, sorted, marketed, monetized and controlled.

@SkiDaBird

7 ай бұрын

@@daggers101 A lot of US stores don't use $100s, that's not that out of the ordinary.

@mattd6085

7 ай бұрын

@@daggers101Holy giant reach batman. Edit: Oh god you gave your own comment a thumbs up, that is truly sad

@soundscape26

7 ай бұрын

@@daggers101 How so?

I had to use cash the other day for the first time in I literally can't remember how long. Also, funny that the stock clip used in this video for a card transaction shows it being swiped in a magnetic strip reader, when we've used chip and pin or contactless here in the UK for decades.

@SleepyHarryZzz

7 ай бұрын

Americans freak out about this one weird trick!

@AshrakAhmed

7 ай бұрын

If I have to swipe my card on reader in any shop in UK, I will put the shopping down and go somewhere else! that's usually sign of a doggy card reader with cloning device attached.

@TheMetaMoss

7 ай бұрын

​@@SleepyHarryZzzOh no, it's a payment system we've been using for years, we're so terrified 😱

@michael90cr86

7 ай бұрын

Came here to find the person pointing out that we don't swipe are cards

@fredskronk

7 ай бұрын

Here in Sweden a lot of card readers can’t even handle card swipes these days. :)

Parents of my generation were so careless, they needed a 10:00 pm commercial to remind them they had children

@anthonyc8499

7 ай бұрын

My mom literally forgot my birthday. Twice. I'm an only child.

@oksowhat

7 ай бұрын

explain?

@redbuck1385

7 ай бұрын

And they had to be reminded *every* night.

@anthonyc8499

7 ай бұрын

@@oksowhat parents of Gen X kids had commercials on TV to remind them about their kids and check their whereabouts.

@Carlton-B

Ай бұрын

@@oksowhat "It's 10:00 p.m. Do you know where your children are?" Some TV stations played that.

A slight correction - the banks wire money to the Fed and then the Fed then transfers it to the US government, which prints it and sends it to the Fed. The Fed covers the cost of the government printing bills. There’s a ton more complexity with how collateral and assets are handled but the main point is that the US Government in addition to the Fed is responsible for cash.

My fault I have kept £5 in my wallet since 2017, sorry

Did they check the Monopoly boxes first? There's a ton of cash in there. Just saying, you got your fifty pound notes and £100 and £500 notes too

A long long time ago when I was into more unscrupulous things shall we say, I was paid twice with a €500 note. We used to call them Bin-Laden’s as we rarely ever saw them

@nahuelma97

7 ай бұрын

I could call them dad then, by that rule

@mattd6085

7 ай бұрын

@@daggers101What kind of idiot doesn't see a dentist?

@kv4648

Ай бұрын

How did you even cash that in?

the local differences are crazy, 40 year old brits in the comments saying theyve never used a 50 pound note, meanwhile as a 25yo german I've never used a card to pay in person in my life. And I'm not too thrilled about the prospect of cash payments becoming so rare they are seen as inherently suspicious, having a small number of payment processors and banks track all your spending and potentially (almost definitely) using that data.

@Gordanovich02

7 ай бұрын

If you go over the border into the Netherlands you'll have a hard time not paying by card.

@MineZilla123

7 ай бұрын

​@@Gordanovich02who cares how your spending your money if your not doing anything illegal lol

@Br3ttM

7 ай бұрын

The US has recently had issues with payment processors cutting off businesses and even entire industries that are politically controversial, but legal. They don't just track what you spend, they control what you are allowed to buy.@@MineZilla123

@traveller23e

7 ай бұрын

I once got stuck in Bergen unable to use the public toilets because they were card-only and I only had cash.

@soundscape26

7 ай бұрын

Germans are widely known to love their cash and be suspicious of digital payments.

Average weight of £20 bills enthusiast vs. average British government.

@esmeecampbell7396

7 ай бұрын

I could buy a gold scale and give you the exact weight of one but I don't want to have James Bond kicking my door in for leaking state secrets.

@quickcleaner0

7 ай бұрын

😂@@esmeecampbell7396

Given how much quicker paying by card is, I'm not surprised the famously asocial brits got rid of standing in like counting change as fast as they could. Many would be willing to get a chip or wear a bracelet if it would just auto-charge their card for whatever they were holding, if it'd let them just walk in and out without talking to or making eye contact with anyone!

@SleepyHarryZzz

7 ай бұрын

Obviously. Thus is an objectively better way of life. Forget trading paper, just make my number go down

@Bob_the_Jedi

7 ай бұрын

Cash is better than card for everyday transactions.

@elmurcis1

7 ай бұрын

At this point many just use phone for payments

@mildlydispleased3221

7 ай бұрын

Most people pay with their phone or smart watch.

@wclifton968gameplaystutorials

7 ай бұрын

Cash use has actually been going up this year here in England. Personally though, I only ever pay in Bank of England notes since I don't want the government or my financially insolvent bank (National Westminister, which is ~40% government owned) to know what I spend my own money on. I have yet to see someone pay for anything except a bus or train fare with their mobile phone though.

3:51 For the record, pretty much every state has something like this set up. Just search [state] unclaimed property and you'll probably find their database.

Sam. IMPORTANT NOTE In the UK in 2020 and 2012 we were encouraged to use cashless transactions to help stem the transfer of You Know What 😉😷. This would lead to a massive drop in the use of cash. Many shops and businesses refused to take cah payments to protect their staff.

@ronblack7870

7 ай бұрын

2012 ? you mean 2021

@MonkeyJedi99

7 ай бұрын

@@ronblack7870 Both were halfway decent movies.

@Robert-cu9bm

7 ай бұрын

And now they're putting tax up people will start using cash again to hide from the tax man

@767corp

7 ай бұрын

That's where my country's government copy this meta. How unoriginal !

@jamesarmstrong857

7 ай бұрын

What's a cah payment?

Every single van or pick-up driving private contractor in construction, maintenance, glaziers etc is always willing to do the job cheaper for cash in hand and all have wallets filled with £50's and £20's that the tax man never sees. I work in a petrol station and in the morning they come in pay for their fuel and their over priced coffee in cash with a wallet held closed by 3+ thick elastic bands because of all the bank notes.

@WyvernYT

7 ай бұрын

And it's perfectly reasonable to turn a £50 bill into petrol for a van. The system is working.

0:43 Gives the weight of British currency using imperial units. 1:29 "The British usually love the outdated."

@1258-Eckhart

Ай бұрын

having weirdly gotten confused between pounds-sterling and pounds-avoirdupois. Also look at all those US school buses with 1950's technology.

No doubt a lot of the “lost money” is just sitting in people’s wallet. I use my card for basically all my transactions but I still keep a couple of hundred dollars in cash in my wallet just in case the card systems are down so I have an alternate way to pay.

@Heidelaffe

7 ай бұрын

£81.000.000.000 between 68.000.000 is £1.191,18. I really Hope you just carry that amount with you unnoticed ;-)

@Meg_A_Byte

7 ай бұрын

But that's not "lost money", that's money in circulation. He talked about it at the beginning of the video.

@jakobbruhspenning

7 ай бұрын

Great for when you get robbed

@ChristiaanHW

7 ай бұрын

​@@jakobbruhspenningactually yes. It's better to have a few bucks to give a robber than having nothing to give teh robber. If you don't have anythibg to give the robber he might become (more) aggressive.

"Truckloads of money slip off of their ISLAND." Damn, that's first time I've loudly laughed at this channels video after years of watching Thanks for you hard work, government of the United Kingdom and Great Britain

@danielbishop1863

7 ай бұрын

*Boatloads* of money, then. Or they could take the train under the Channel Tunnel.

@gdclemo

Ай бұрын

The UK's not an island, it's a big island plus a bit of someone else's island, plus a bunch of smaller islands. You could drive a truck full of money out of the UK without any border checks.

Legal marijuana "dispensaries" in the USA hava a similar problem: Marijuana remains illegal under *federal* law, even whilst in some states, it's legal under *state* law. Since banks are (mostly) regulated under federal law, they won't do business with weed dealers - even legal ones. Which makes said dealers forced to handle lots of cash (notes and coins), which is a big headache.

*"the British LOVE the outdated"* Sort of true; when you love in a country which has been here for a while you tend to collect a lot of historical baggage. But that said and somewhat ironically, we were amongst the first to use Chip & Pin credit cards and many Brits are surprised when they visit the U.S. & Canada and find out that they need to use a signature because C&P hasn't yet gained mass adoption there. And let's not talk about cheques (checks).

@SportyMabamba

7 ай бұрын

We also pioneered contactless payment with the Oyster travel card 🇬🇧

@lucasruault666

6 ай бұрын

Only the U.S. is living in the past for payment! Canada has been using chip cards for ages now, and we make fun of Americans at every opportunity we get

@StevenHawkingsSpitrag

6 ай бұрын

What are y’all smoking? Chip and pin has been the standard here in America for years lmfao. It’s been mass adopted to the point you can walk into the local mom and pop shop and it’ll be using chip. Idc if you wanna hate on the greatest country in the world, but at least hate on things that are true, such as our shitty healthcare or the fact that our kids can’t go to school without getting shot 😂🤦🏻‍♂️

@JohnGeorgeBauerBuis

Ай бұрын

Chip cards are becoming fairly common in the USA, but yes, they are normally chip and sign, and pins are normally only used alongside the cards for ATMs. The vast majority of places also accept swipe-only cards, because those are still quite common (and some businesses still require swiping even though it has higher fees for them!).

Also worth noting that currency (as in bills/coins) is not much of an inflation source compared to other types of money. Money has to be spent to be inflationary, and a lot of cash is just doing nothing, it sits in your wallet for a few months at a time until you need to split a dinner and your friends don't have e-transfer. Since cash transactions are going down it makes sense that printing can go up without really causing much of anything. Best case scenario is the cash is put in the bank and then the bank can back deposits against it, which are a much more important form of money (the econ term is having higher velocity of money). And then those deposits can be inflationary.

I pay for meals with a bank card but I always use cash for tips. That way servers have the option of just sticking it in their pockets so they don't have to claim it on taxes or share it with all the other servers like some restaurants do.

@punkdigerati

7 ай бұрын

Put a small amount of tip on the card and the rest cash, the two are recorded differently. Now if audited they received a bad tip, not an indeterminate amount of cash.

@mattd6085

7 ай бұрын

I like the system where servers are paid an actual living wage and don't depend on customers being kind enough to follow a batshit crazy social custom. That way servers can actually use tips for what they a supposed to be, a nice bit of extra fun money for being particularly effective at their role, not the difference between eating or starving that week.

@grahamlive

7 ай бұрын

Sharing tips with other staff is standard practice in the UK. All the cash tips go in to a jar and are shared out at regular intervals. I'd be horrified if I thought the waiter was pocketing the tip for his/her self.

@MineZilla123

7 ай бұрын

Yeah, just means your are shorting the bussers who actually clean the servers tables in between customers from getting their part of the tip. I used to be a busser st olive garden and I fucking hated when server's would do that, I had to clean the tables for them, all they did was take a few of the plates while the customer was there as a pre-buss, besides that I cleaned the tables after every customer. They only had to clean them when it was the last table of their shift. So yeah, your just fucking over other people working too. The whole system is shit but unfortunately until we change it that's how it goes

@MineZilla123

7 ай бұрын

​@@mattd6085yeah everyone does, but unfortunately here in the US that's how it is and until that changes if you don't tip your just being an asshole and not paying someone for their service

The most interesting thing to me in this video is that there's stock footage of someone stuffing underwear in a pair of shoes

A polymer £20 weights 0.905g if I remember correctly from when I hate to calibrate our note counting machine for it 0:49

So a large portion of it isn't necessarily missing, it's just not being tracked because it's not intended to be anyway

The Swiss have a CHF 1000 note - thats like a single USD note of over $ 1000, imagine when you lose one by accident - sweat profusely at the thought! 😂

At 2:55 it looks like the man rowing the boat is heading to Denmark. However, Denmark has very high anti-laundering laws, so the bank will probably ask you more questions than the British. You can not deposit money in the banks without showing where the money comes from, so I dont know why you made him head to Denmark and not France.

There were 500€ denomintions but nowadays they are beeing replaced by smaller ones

@teamcoltra

7 ай бұрын

There still are, what he said isn't wrong.

There are lots of places were you now can't pay with cash in the UK! Busses, food markets, some checkouts at supermarkets, some restaurants, the list is ever growing!

@julianaylor4351

7 ай бұрын

Some small shops in London, will not accept card payments for goods under £5, because it costs them too much in business banking charges.

@TheBloodypete

7 ай бұрын

@@julianaylor4351 its weird as the food market here happily does it and refuses cash as they get charged too much for it! I guess it depends on who makes their card machine

@julianaylor4351

7 ай бұрын

@@TheBloodypete And their bank or building society's rules on business transactions. However if you have to use a laundrette, they only take cash and you have to buy tokens for funfairs and amusement arcades.

Amy out there placing Geocaches, lol

I’m in Argentina right now which has a largest denomination of 2000 pesos which is basically the equivalent to 2 dollars, and a cab driver yelled at me last night for using them because they’re new and harder for him to launder or something

my small collection of british notes is probably helping this situation

It's probably being held by foreign goverments, since London banks are the largest producer of dollar bills in the world and a lot of countries want to do business with the big boys. So trading with us for dollar bills mean you have a way to trade with America.

@BigHenFor

7 ай бұрын

Not dollar bills, but USD-denominated assets. What you're talking about is the Eurocurrency capital Market, of which the Eurodollar Market is part of. It started out in the late 1950s in London as a means for banks to organize interbank borrowing and lending of US dollar deposits between a network of private banks based in London. This was needed because US Capital controls prevented USD leaving the US, which meant demand outstripped supply. And as it was circulating between private banks, nobody asked too many questions about where those dollars came from. But as it was the height of the first Cold War, it has been assumed that they came from Russia, to avoid US Sanctions. Anyway, the people requiring USD were other sovereign governments and central banks to trade in international markets. They could have short-term loans if they pledged their sovereign debt securities as collateral. Accordingly, this so much a profitable trade, it extended the network to include brokers who could provide collateral, and American private banks and brokers came to London, and bought their dollars with them. In the mid 1960s, business became so brisk, they started offering OTC Eurodollar accounts with a minimum deposit of $100k, that paid far higher interest rates. USD cash was important until the Big Bang, when the Eurocurrency Network quickly turned to ledger money. In the present, hardly any cash is used within the network now. It's all paper or computerized trading of the loans created, collateral, and derivatives now. So, there's not a lot of cash handled in the several major reserve currencies it covers. It is now trading purely assets, securities, and derivatives denominated in the currencies they trade. And their main customers are now sovereign national governments, central banks, and multinationals needing mostly financing or liquidity. It is still a network of private banks, but it is now global, and it is offshore and unregulated by government. Not even the Bank of International Settlements (BIS), knows the exact value of the Eurocurrency market, as not every transaction requires clearing with them. So, cash is not relevant now, as money creation is mostly credit, and not cash. Cash is a very small proportion of financial transactions everywhere. The most is done via the exchange of credits by computer. For instance, Jamie Dimon just sold $140 million worth of JPMorgan stock. Nobody gave him cash. It was credited to a nominated account minus fees. That's where the real money is, and that why Financialization in the developed countries is now a problem. But that's another story.

I have about 250 Pound at home from my last vacation to the UK, because since I went, they changed their notes and I would have to exchange it at the Bank of England in London, and that is just too much of a hastle for 250 Pounds ^^' I can't be the only one.

Random thought about Nando's: The first time I ever heard of them was in the context of someone talking about "some cheeky Nando's", which made me think, "oh, I guess that's British slang for 'silly people' or something?" Like, oh you're such a cheeky Nando!

I still have several pounds worth of coins here in the US from when I studied abroad in England in 2009. Still haven't been back yet :) Doing my part of this!

It's down the back of their sofas. 😆 Seriously though, us Brits used to have tiny decimal half pennies. I managed to mislay ten of them, that's 5 pence. I have actually found a five pound note and a twenty pound note, lost in the street sans a wallet, so that's another possibility. Some of it could be lost in a street or a rubbish dump. Who knows? I do know if you damage a bank note in the UK, like accidentally leave it a pocket of a piece of clothing in a washing machine, you can take the remains of your note, to a bank and after filling in some sort of form, they are obligated to replace it. Sometimes when people die in the UK, their houses have been found to have money, coins and notes hidden in there home, so your joke is spot on and no doubt true for many countries, because some people just don't like banks. There is also the problem of money stuck in deceased people's bank accounts, that is legally mired in litigation, again true in many countries.

@nahuelma97

7 ай бұрын

But money stuck in bank accounts, belonging either to deceased people or companies stuck in litigation, whatever, that wouldn't be considered lost cash, as that's digital money, so to speak. And if your grandma did deposit a 100 pound note and then died, the bank took the cash, added it to her bank account, and then gave the note to someone else, and maybe it then got lost, but it's no longer your granny's 100 pounds that got lost. It's whoever took that 100 pounds note out. Idk if what I'm trying to say is clear enough 😂😂

@julianaylor4351

7 ай бұрын

@@nahuelma97 But it sometimes cannot be turned back into cash, because of legal disputes. That's my point.

Darn, not only do I have a feeling exactly where Amy dropped that note, but I'm going to be in CT next week... unfortunately at a place that's a good two hours away from there.

Neither of theese points are that relevant but here you go; Literally, nobody uses €500 notes. You can't get it from bank machines or banks without calling ahead (and who would do that seeing as everyone is afraid of accepting them. I was made to walk one up to the post office to verify it). I'm 30 and have only seen 2 and I was a till worker for about 2 years. They are so big though, that they look more like a certificate than money and couldn't fit in any normal wallet. Also, you showed a card being swiped for the UK, but everyone in Europe uses a chip and pin.

@oksowhat

7 ай бұрын

what is chip and pin?

@NirateGoel

7 ай бұрын

Even chip and pin is disappearing more often it's contactless.

@sylvy16

7 ай бұрын

@@oksowhatthe card has a chip and so you only insert that part of the card and you have to enter the atm pin for the transaction. i think it’s supposed to be safer but it’s mostly replaced by contactless payments

@hedgehog3180

7 ай бұрын

@@sylvy16 Contactless is equally safe as chip and pin since it's basically the same system.

@Eoin-B

7 ай бұрын

@@hedgehog3180 contactless is not as safe and you can only use it up to 30€ at a time (expanded to 50€ because of COVID) and there are both daily limits and actual monetary limits, before you need to insert it again with the pin (idk exactly, but about every 120€ over a few days and less in one day) I personally think it should be reduced again, but at least our system prevents spending sprees over 90€. Tapping with your fingerprint on your phone is limitless though. Was that what you were talking about?

A true moment of nerdom that I understood the opening reference without even having been alive during that time period.

Within the UK, if you in less than 1000 in a fiscal year (via PAYE) you do not need to report it, which may contribute to the total significantly as many go over that limit without reporting it.

Dont worry, Britain, I can relate.

i wonder why you don't mention money also get destroyed. this means if a banknotes is worn out or just "ugly" they get replaced. so if you only count the money they have given out you miss a lot of money which actually don't exists anymore

@SportyMabamba

7 ай бұрын

It’s not missing if the serial number is recorded as destroyed and replaced

How to reduce drug crimes, only have 1 dollar bills in circulation.

It’s all on pleasure island. Only Jeff knows… knew where it was.

HAI: Its 10pm, do you know where you cash is? Me watching this at 10PM:

I am curious if there is a break down of what is missing by domination. In the UK 5, 10, and 20 pound notes are common. But 50 pound notes are extremely rare. They are almost exclusively associated with illegal activities like money laundering and drug dealing, and are often suspected of being counterfeit. Is the cash that is "missing" made up of largely 50 pound notes.

I hardly ever see £50 notes. Rarely use cash, but when I do, even if I withdraw a large amount the ATM will do it in 20s and 10s. Last time I saw £50 notes was actually from my employer, they screwed up my pay so had to give me the difference in cash.

@konadesu

7 ай бұрын

The only time I ever saw a £50 was someone on the train explaining why they couldn't pay for a train ticket at the ticket machines. Guy got away with a free train ride for pulling out £200 in £50s

The £50 used to be comparable to the $100 lol. And a lot of places wont take 50s anyway in fear of fraud.

Easily 50% of British cash is kept in wallets, for months on end, exclusively for the odd occasion you end up in a pub that doesn’t accept card

I also heard that when they print money they take into account x amount will be lost and adjust for it. Example like cash or coins getting damaged or falling down a sewer drain, ect.

Ngl, I'm tempted to find that envelope, but the $1 bill isn't enough to tempt me. I do however think I could find it

There is a £100 note issued by the bank of Scotland. I was confused when first seen that fact as I've came across a lot due to my work, didn't know the highest in England was £50 to be honest.

@a.i.l1074

7 ай бұрын

And if England start printing them, we're coming out with a £101 note

Best guess for the rest stop dollar is the I-95 Darien NB service plaza. That's based on the shape of the building, of which I could only find three of that style, the tree line, and the placement of the street lamps. I couldn't find matches for the brown parking posts which should be unique to that service plaza seeing as none of plaza's in CT have those from best I can tell. I also could not find that street sign in the background. If you see that sign, I'd say you found the right plaza. Good hunting!

@SkeinChug

7 ай бұрын

More confident I found the right one. Found a recent photo of the signage for the restaurants. You can see what looks like a subway logo out of focus in the background. That subway sign was recently installed at the plaza and is the only subway logo in that location on any of the rest stops.

@joelp123

7 ай бұрын

Same guess here, I was looking for info about recent parking lot renovations to confirm but didn't see anything. Could call and ask the staff.

@PhillyMotoXTS

7 ай бұрын

BRB, going to get a dollar after spending $40 in gas

@joelp123

7 ай бұрын

@@PhillyMotoXTS wouldn't be the dumbest thing I've done this week

there is also being used as foreign currency reserves by other nations. countries that uses the British pound for transaction need to have that currency in reserve to cover their transactions and considering that many uses the pound as a transaction currency not just for trades with Britain, there are plenty of it being used by foreign countries for international trades. The US dollar is obviously the largest currency used for international trades but British Pound and Japanese Yen are also widely used. Chinese Yuan is also used in large amount but by nature of the Chinese economy being far less open to foreign investments, they're only carried by nations for direct trades with China.

1:30 “the British love the outdated” said a man from the only industrialised country that still uses imperial measurements for literally everything!

You can tell no one uses money anymore when the new King Charles coins have giant numbers on them to help kids learn to count, because they are the only ones using money.

@clintonrobinson8070

9 күн бұрын

The value of physical cash is it works when the power is off, it's easier to keep track of spending when you hand over a physical token to pay and you can't be locked out of access to your by anyone.

I remember the weird feeling when I was physically holding 1 milion Euro in my hand (500k in each), worked in a small German Bank, one of my training areas was the vault, to learn how to process cash for the central bank etc. We would vacuum packs with 10 x 100 x 500€ bills so 10 stacks of 100 bills or 50.000€ each, neatly vacuum sealed in to a surprisingly tough brick ( we might have thrown it to each other for fun). The thing is when you work around that sort of cash it becomes material, it is just the stuff you work with, some colleagues would become extremely nervous handling that kind of cash.

There is a small correction I have to say the highest note you can get in the UK is the £100 note but this is very rare and is produced by the Bank of Scotland so is hard to spend outside of the UK

I think M.Bison has them. The rate is 5 pounds for 1 Bison dollar. So it took up ways less space than any currentcy to move around.

The missing cash is probably in the bankers' pockets.

5:00 wait so do they actually keep the wired money thereby increasing inflation by adding $998.60, or does the money get deleted or something like that?

@calumtosh1438

7 ай бұрын

Yeah how Tf do that work. It would double every time

@eris9062

7 ай бұрын

I mean basically, but metal coins have the opposite effect (e.g. it takes about 3.5¢ to print a penny in the US), the proper name for this is seigneurage/seigniorage and there is more nuance to it but it’s 1am and I don’t feel like getting into ir

@Amarytha

7 ай бұрын

Similar to how when you take a loan from a bank, idk 500,000 for a mortgage or something, thats not money from other depositors lent to you, thats just money created from thin air. It’s literally newly created money. Whats the quote? Something like “If the average person knew how the banking system really worked there’d be a revolution by tomorrow”

@vodafoneuser1690

7 ай бұрын

@@AmarythaVery true! Little known fact, nowadays most banks don‘t even have 10% of their lent out debt in actual monetary reserves.

@adamdapatsfan

7 ай бұрын

They keep the money, but whether it counts as pure inflation is kind of a difficult question. For example, if some bills are destroyed in a fire, that theoretically deflates the currency, so selling new bills is just restoring the status quo. (The treasury estimates about 70% of bills printed are just replacements for those damaged or destroyed.) And to some extent, new currency needs to be issued _because_ of inflation - the value of bills in circulation 100 years ago wouldn't be nearly enough for cash transactions today.

I’m sure Prince Andrew just needed to borrow it for his trip to the island 💀

Props to Amy for doing the legwork

Slight correction: there's also a £100 note that's only issued by the bank of Scotland but is still perfectly legal tender

@bruhgamingnl1315

7 ай бұрын

Slight correction: Scottish notes are technically not legal tender, not even in Scotland. And fun fact, technically no notes are legal tender in Scotland, not even the English notes.

@nlald

7 ай бұрын

@@bruhgamingnl1315in Scotland all notes are illegal tender

@scragar

7 ай бұрын

Scottish notes are freely exchanged(meaning the Bank of England will give you English pounds for Scottish notes), but that's about it. Luckily most places will accept such notes because the banks will, but that doesn't mean it's legal tender, that has a very strict definition(regarding the acceptability for it to be refused as a form of payment for debts). Interestingly legal tender never comes into play in a store unless they let you have something in credit, the purchase made at a store doesn't involve debt and thus they don't have to accept cash if they don't want to.

@Robert-cu9bm

7 ай бұрын

​@@scragar Exactly people don't understand how it works. In a shop you put the items on the counter and your offer is the money, it's now up to them to accept your offer. In a restaurant you've eaten a meal and now owe money, they can still refuse to take your money. But they can't sue you for non payment. That doesn't mean you now don't owe them money though.

I was going to mention that money from that malfunctioning bank truck where all the cash flew onto the highway but it looks like you mentioned it

Now I want a video about the Nandos visitation habits of drug dealers

Use the 1'000 CHF if you want save space :D

a lot of our older notes are being replaced with newer versions, so that's probably not helping either. i've still got an old fiver (on my desk right now) that i'm just way too lazy to go to a bank and exchange

The uk frequently changes bank note designs and old notes stop being legal tender for transactions. Exchangeable only in person at the Bank of England after a set transition period, which effectively makes a whole load of old notes worthless as lots of people don’t want questions asked about the moneys history. Don’t know why other countries don’t do the same.

This video is why crypto being used for illegal stuff isn't unique to crypto. Cash is largely used for illegal stuff, so it should be expected that a close digital equivalent would be also.

I'm going to Darien next week to claim that dollar

Yeah, I was gonna say "I think the money's just out being money". But who found the dollar?

Trivia note: The U.S. game show The Amazing Race has been on for 35 Seasons, & they have traveled to United Kingdom for 8 of them; 3, 7, 17, 22, 24, 25, 31, & 33.

@honor9lite1337

7 ай бұрын

What's that? 😮

A number of places in the US won't accept anything greater than the $20.

Jeremy Hunt roles around naked, laughing maniacally in it every night

1:32 Currently laughing at the stock footage of someone swiping a card, We haven't done that in the UK for years now

If you weigh two same value bundles of 20 pound notes they never come out to the same weight for some reason. Maybe that's why they don't tell you their weight.

@rogink

7 ай бұрын

Ah yes 'traces' of white substance?

@mistermist634

7 ай бұрын

Fresh notes or circulated ones?

@ars8223

7 ай бұрын

Every weight of 20 pound is personalized

@jonnythefox7507

7 ай бұрын

New plastic ones@@mistermist634

My cash goes missing all the time. But great video anyway

Did not expect connecticut lore 😳 catch me prowling i95 for “lost” doubloons

If I am buying from a retail franchise, for things over $100, I often ask "do you offer a discount for cash". I only ask if it is something I am actually going to buy right there and then. They have their own priority for cash, compared to an electronic transaction via their Franchisor account. Casinos love cash.

I feel like this one went over the line from "clever (harmless) clickbait" into deceptive wording, even in the video itself. The bank didn't lose that money because it's not theirs. It's like saying I lost the lug nuts on the car I sold because I don't know where they are. Now, if you had shown that their money went missing from the bank or their accounting records, that would be different. Also, cash used to represent gold (I'm assuming it used to in the UK too), but it doesn't anymore.

That happened in September of 2001 as well

wait what does your accounted do with the money when “scout girls season” starts?

The 1000 swiss francs note night be a better example, as the 500€ note becomes harder to get every year, while the 1000 CHF note is worth 1000€

Nando's is one of South Africa's best exports apart from winning Rugby tournaments

Oh come on, that is ridiculous! Super markets will be ordering ready meals from specialist ready meal companies too! Just their buying requirements will be very different!

All 3 Scottish banks issue £100 polymer Promissiry notes and some north Irish banks may issue £100 polymer promissory notes. All the paper £100 Scottish and Ulster became invalid on 29th of September. But the bank's will accept the old notes to swap for new for their own customers.

I've got about £60 in cash left over from my last UK visit, pre-pandemic. Sorry, didn't know they were looking for it. I've also got about £40 on my Oyster card, does that count?