181–190 of 327 posts
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I can see that happening for second-hand cars but not for new cars that have to be issued new plates. But maybe things work differently in other countries. “Europe” is not really one place.
You can usually immediately get temporary transfer plates that’ll be valid for a month everywhere(?) in the EU.
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You can usually immediately get temporary transfer plates that’ll be valid for a month everywhere(?) in the EU.
I got that kind of temporary plates once... at the DMV. It was quick, but they didn’t materialize magically when I needed them. Maybe it’s easier now, though.
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I got that kind of temporary plates once... at the DMV. It was quick, but they didn’t materialize magically when I needed them. Maybe it’s easier now, though.
I’ve seen people use third party services that work with the DMV to make them materialize magically.
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the real reason why the 500 euro bill has been revoked was that for storing physical money (for banks, in those quantities) would become more expensive in order for the ECB to lower the interest/deposit rate. next thing will be 200 euro bills revoked, then the base rate can go down to around -1%.
This really is the endgame in ZIRP. Removing the ability to store cash is the only way to effectively get rates into negative territory.
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This problem has probably been exacerbated by the fact the the $500 euro note has not been issued since 27 April 2019 The United States used to print $100,000 notes. They were only available to banks for moving from bank to bank, I believe, and so were useful for reducing the number of notes that needed to be stored by banks, while keeping them out of the hands of criminals.
The US also had lower denomination bills like the $500 and $1000 until 1969. They were not in much use then but I think that they could have useful legal uses today considering all of the inflation that happened since 1969. The $500 now would be about like $75 in the 1960's.
While I agree with your premise that inflation makes $500-1,000 notes practical from the standpoint of modern expenses, businesses I interact with tend to prefer a third party to verify payment (CC merchant, cashiers check, etc.).
Cash is dying and although I love convenience, I'm not entirely sure that's a good thing.
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The US also had lower denomination bills like the $500 and $1000 until 1969. They were not in much use then but I think that they could have useful legal uses today considering all of the inflation that happened since 1969. The $500 now would be about like $75 in the 1960's.
I'm trying to think of places that would want to accept $500 to $1000 notes when many places won't even accept a $50 or $100 and consider them "large bills." While I agree with your premise that inflation makes $500-1,000 notes practical from the standpoint of modern expenses, businesses I interact with tend to prefer a third party to verify payment (CC merchant, cashiers check, etc.). Cash is dying and although I lo…
Can someone explain to me why central banks find it so hard to create inflation? It seems to me that the difficult direction should be convincing people that your currency is worth something. Making your currency lose value should be easy, shouldn't it? If Google wanted to tank their share price they would have no problems.
Inflation isn't just about money supply (no matter what certain people on the internet tell you), it's about money velocity. If the central bank prints a hundred billion dollars but it immediately gets stashed in vaults or under people's beds or in international tax havens, it might as well not exist and there's no inflation. The "pushing rope" metaphor for inability to create inflation is a good one.
Inflation is entirely about the supply and demand for money. You were just calculating it wrong.
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Japanese deflation is brought up a lot. However it didn’t really strike me as a troubled economy when visiting - on the contrary, things looked quite well. Can someone elaborate on why deflation is so bad?
Deflation is bad because it is a self-reinforcing slowdown in the economy. The money gets more valuable and the assets get cheaper. so the incentive in every micro-decision is to hoard money and not spend. Why spend when the same thing will get cheaper tomorrow/next week/month/year...? So, the key factor of the Velocity of Money declines, and the entire economy either grinds or crashes to a (relative) halt. My unders…
Inflation prevents low income earners from saving, but they aren't in a position to take risk and invest. Therefore, it causes their networth to drop in relation to the wealthy (who can take risks to keep up by investing).
Inflation also keep wages down, as it's easier to pay the same wage , and any increase must be above inflation rate to remain at the same purchasing power.
Inflation also leads to speculation, rather than to invest in productivity increases.
With deflation, you end up not spending as much on discretionary/luxury goods, and only spend the minimum necessary. The prevailing theory is that this leads to slowdown in the economy - but I say it leads to low to zero mal-investments. If you have a high chance that your capital is going to have more purchasing power later, you would only invest in good, known ventures that is not speculative (e.g., building basic infrastructure that has a sound business model, rather than building fad apps).
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True. But it is nice to have large bills when buying something that costs a lot, like a used car. I recently did that in the US and if I had some $500 or $1000 bill things would have went a bit smoother at that nervous time in the transaction when you are handing over to a person a big chunk of money.
The best way to pay for a used cari the US (assuming you mean from an unknown private seller, not a dealer or family) is probably for the buyer and seller to go to the buyer's bank together and have the buyer get a cashier's check in front of the seller and exchange title/keys for cashier's check right then and there. It eliminates the risk of a forged cashier's check and the need to carry large amounts of cash.
Obviously, using verification information such as a phone number from the note itself is susceptible to scamming, but discovering the contact information through multiple reputable external sources then contacting the bank from this information has extremely low risk of being scammed.