Some weird and masochistic part of me wants to hand my passport to a US border guard with one of these tucked into it. Seems harmless but a dumb way to waste an afternoon
Zero Rupee Note
81–90 of 241 posts
Re: Zero Rupee Note
#82> One autorick-shaw driver was pulled over by a policeman in the middle of the night who said he could go if he was "taken care of". The driver gave him the note instead. The policeman was shocked but smiled and let him go. Too good to be true. On another note, what people usually do (when they are asked a bribe) is to notify the vigilance officer. The vigilance department provides marked original currency notes powd…
It is too good to be true, police would have smashed him just out of ego
Re: Zero Rupee Note
#83I wonder how similar bribery culture is to tip culture. In the US where we tip restaurant workers, restaurant wages are often much lower than comparable positions in industries that don't have tipping, so much so that the difference is often explicitly included in minimum wage laws. Do countries with more bribery experience a similar effect, where the wages of police officers and other bribery-prone worker are much l…
> In the US where we tip restaurant workers, restaurant wages are often much lower than comparable positions in industries that don't have tipping, so much so that the difference is often explicitly included in minimum wage laws.
This is putting the cart before the horse.
Re: Zero Rupee Note
#84How much do I have to pay to get a Zero Rupee note?
If you have the right paper you can download and print your own notes from https://5thpillar.org/programs/zero-rupee-note/
I believe note will be historically important. I wanted an example for my currency collection. Although Fifth Pillar printed more than a million of these notes and has been distributing them for six years they have been scarcer than hen's teeth on the collectors' market.
I had no luck contacting 5th Pillar. I tried repeatedly from 2009 to 2013 without success. In 2014 I was able to obtain samples from Joel's Coins website. They were selling for $2/note (but cheaper in quantity), far more than the face value of the 50 rupee note they imitate. Because I could find no examples with a provenance to 5th Pillar I am not 100% certain the examples sold to collectors in 2014 were produced by 5th Pillar.
Re: Zero Rupee Note
#85> One autorick-shaw driver was pulled over by a policeman in the middle of the night who said he could go if he was "taken care of". The driver gave him the note instead. The policeman was shocked but smiled and let him go. Too good to be true. On another note, what people usually do (when they are asked a bribe) is to notify the vigilance officer. The vigilance department provides marked original currency notes powd…
In many countries the official currency for bribes is a recharge/top-off card for mobile phone calling credit. You forget it on the seat or the counter and oops.
Re: Zero Rupee Note
#86Could negative currency be useful? For instance a fungible, negotiable debt instrument, registered on a blockchain so it can't be unilaterally destroyed. Put contractual language on it to the effect that "Registering acceptance of this note obligates you to pay $X to the U.S. treasury by date Y."
Bob buys an apple from Alice but doesn't have the cash, so instead accepts/registers a -$1 note from Alice, who now has less of a tax obligation to the treasury. A portion of the negative purchase price is for insurance and interest, so the positive price of the apple is a lower absolute value.
It could be a low friction mechanism for small loan transactions.
Re: Zero Rupee Note
#87Earlier quoted context omitted.
Tipping originated a long time ago, but grew popular in the USA as a way to avoid paying newly freed slaves the same as non African Americans for work. https://www.washingtonpost.com/news/wonk/wp/2016/02/18/i-dar... http://time.com/5404475/history-tipping-american-restaurants...
That might be true, but those articles are using a restaurant employees advocacy group as their only source. And beyond that one person's conjecture, there isn't much evidence that it's actually true.
I found a Time article agreeing, but upon further investigation it cites the exact same advocacy group as their source as well. I'll agree with plausible but dubious.
Re: Zero Rupee Note
#88Earlier quoted context omitted.
> It's that terrible win-win to everyone situation and that makes it very hard to destroy. It does make it sound like there's a bribery-free equilibrium really close by though. Like imagine all of these things happened as part of a single reform: - Policeman and management salaries go up. - Fines go down. - Taxes go up. - Anti-bribery enforcement goes way up. The idea would be to acknowledge that regardless of the br…
People don't respect police, so when government would want to massively increase their salaries, people would protest against it. Fines go down is a good thing for sure, but it'll reduce amount of money going to local budgets, so people in government will protest against it (because they'll need to find money to replace those from reduced fines). Taxes go up: nobody likes it. Anti-bribery goes way up: when everyone's…
Hah I really love discussions like that, everyone is right to some certain point.
If there would be one size fits all solution, we’d had one of those.
Generally the quintessence is the big role of money. But you just can’t create money out of nothing. Money comes from actions, money causes actions. If the Cashflow is redirected, something else will suffer from it.
Re: Zero Rupee Note
#89I don't think people actually use the note though. I don't see anyone having guts to give that note to policemen or government officials in India. Everyone in India just like the US is scared of the Police and know not to mess with them.
People in US are scared of the police? I am from India and have been in US for a while now and have never been scared of the cops (unlike my time in India).
Re: Zero Rupee Note
#90Could negative currency be useful? For instance a fungible, negotiable debt instrument, registered on a blockchain so it can't be unilaterally destroyed. Put contractual language on it to the effect that "Registering acceptance of this note obligates you to pay $X to the U.S. treasury by date Y." Bob buys an apple from Alice but doesn't have the cash, so instead accepts/registers a -$1 note from Alice, who now has le…
That is what money represents/has represented historically:
https://en.m.wikipedia.org/wiki/Credit_theory_of_money