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@tranie | 5 May 17 | |
ah yes 1970 i remember it well
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@dom4subs | 6 May 17 | |
@ mikeymk - 5.05.17 - 05:52pm From back in the day when a fiver was still worth something... I belive in those days it was worth 5 pounds. |
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@mikeymk | 6 May 17 | |
But five pounds was worth two hour's work. It was worth four pints. It was worth a month's TV rental. See, things haven't got less valuable. A loaf of bread is something a whole family wants. It's still worth as much as it was worth 500 yrs ago. Difference is, how much of the UK pounds and ounces, in coin weight, is bread worth now? So little that they can't make coins out of silver and copper anymore. Because the pound has been devalued far beyond its weight, and worth. Five pounds is not worth five pounds, anymore. The term used is now a sham. |
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@elfe | 6 May 17 | |
*
The old ones will still float around for ages, most places will still take them.
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@eyesore | 6 May 17 | |
five pounds was worth two hours work/four pints ???? something is seriously wrong here
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@eyesore | 6 May 17 | |
and a loaf of bread would of been worth a lot more 500 years ago than it is today .. your whole statement is flawed
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@mikeymk | 6 May 17 | |
How would it? One loaf for one family, one day. Explain how that's different. In the early 1990's an in-experienced worker was on about 2.50 an hour. You could go to a pub and buy a pint for 1.25. What's not to understand? I was in that position, they were my costs. Must've been a rip in time you didn't exist..? |
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@eyesore | 6 May 17 | |
for some reason I was thinking you meant four pints of milk....I'll get my coat
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@mikeymk | 6 May 17 | |
Bread, pint, milk.. fair play. To reinforce my point though, an experiment you can all do. Many copper coins in circulation are still 1970's ones, because that's when 'New Pence' was introduced. This despite people weighing them in during the early 1990's crash. They weighed them in because a 2p coin was worth more in copper than it was in monetary value. So find yourself a '70s copper coin, they're quite common and date back to 1971. 1p or 2p, whatever. Place a magnet on it. The magnet won't pick it up, because it's solid copper. But the magnet will pick up modern 1p and 2p coins. This is because they're copper-alloy coated iron. And the reason for that is because a pound of copper is not worth a pound... anymore. And that is not because things are less valuable today. because they're not. It's because money is less valuable, by measurement. The term 'pound' in in weight and that's no longer valid. So no, five pounds is not worth five pounds, anymore. That said, substance will always hold it's value. And five pounds of toffee today, is still worth as much labour as five pounds of toffee was worth 50yrs ago. Because people still want it just the same. So if you wanna trade, trade substance. |
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