India 10 rupee coin - ''money is the greatest confidence trick in the history of humanity''

How much, are the coins in your pocket, really worth.

http://www.bbc.co.uk/news/world-asia-india-43124087

Leftist BBC Propaganda at its best again.
We all heard about that some indian banknotes got void overnight some time ago meaning some lifetimesavings went worthless.

I understand those people.

https://cointelegraph.com/news/indian-government-outlaws-rs-5001000-notes-millions-worth-of-rupees-worthless

Quote: "X4JOE"​That is really funny........you are such a tease

​He is, isn't he?

Its odd to think that although the Rs10 coin has been minted since 2005, it's only in the last 3 years that the everyday person sees it in change more regularly. These coins were initially just sitting in currency chests with the RBI as the preference for bank notes is still very strong (think of the golden/presidential dollars vs a $1 bill in the US). To top it off, very few people have ever seen a bimetallic coin before, so the suspicion increases exponentially.
I recall a funny moment maybe 6 or so years ago when I noticed that a Rickshaw driver had a Rs10 coin in his pocket. I specifically asked him to include the coin in the change for the fare. He smilingly refused, telling me that the coins was "ultra rare" and it was probably worth a lot. Most people those days were doing the same thing hording any Rs10 coin they got. However, one shopkeeper happily gave me an unopened bag of 100x Rs10 RBI platinum jubilee coins after I noticed it sitting next to the cash counter and offered up 10x Rs100 notes instead.

However, counterfeit coins, like counterfeit notes, is getting to be an increasingly large problem in parts of India. I myself did find a Rs5 coin dated 2008 which was fake, but easily passable if you aren't a coin collector, Rs5 is worth just 7cents. Its scary to think how many of these counterfeiters would need to make to turn a decent profit. More scary to think that external enemies of the country are trying to destabilize the economy at a very basic level i.e. trying to break down trust between people and the government and between people themselves

Quote: "X4JOE"​That is really funny........you are such a tease

​Reptiloid BBC was furiously against Brexit/the majority so they are leftist for me.

Not to forget they covered a monster like Jimmy Savile for years.

I find it hard to imagine a world without real coins, where all transactions are digital. You know, when you have a coin in your pocket, you can spend it easily at the local shop.

But crypto currencies, seem so distant and appear more easily manipulated by the unscrupulous. Especially, recently, in a world where, whoever shouts loudest wins. The collapse of virtual currency is inevitable, because the majority of people base the wealth in the physical world. Luckily governments provide a legitmate vehicle for people to spend their hard earned money, in coinage and banknotes.

The promoters of any virtual currency that becomes worthless, will not want to listen to hard facts and real world practicality, they become angry and are the first to pass the blame on to someone else, rather than own the consequences themselves.

The First World War was preceded by massive currency devaluations and the breakdown of liberal values, paving the way to right wing Nationalism, creating a foot stool for the rise of Fascism. But, that's history, of course.

Even if currency were to be phased out, we could still collect coins in the form of non-circulating coins.

The value of a coin is not always it's monetary or bullion value. There are other marketing and presentation aspects to consider, not to mention the aesthetic and rarety value. Silver UK 50p's have a bullion value of £3.03 GBP, but to buy from the Royal Mint are £60 GBP and as in the case of the first Peter Rabbit, now worth several hundred Pounds.

http://www.bbc.co.uk/news/uk-43106065

Quote: "X4JOE"​I find it hard to imagine a world without real coins, where all transactions are digital. You know, when you have a coin in your pocket, you can spend it easily at the local shop.
​
​But crypto currencies, seem so distant and appear more easily manipulated by the unscrupulous. Especially, recently, in a world where, whoever shouts loudest wins. The collapse of virtual currency is inevitable, because the majority of people base the wealth in the physical world. Luckily governments provide a legitmate vehicle for people to spend their hard earned money, in coinage and banknotes.
​
​The promoters of any virtual currency that becomes worthless, will not want to listen to hard facts and real world practicality, they become angry and are the first to pass the blame on to someone else, rather than own the consequences themselves.
​
​The First World War was preceded by massive currency devaluations and the breakdown of liberal values, paving the way to right wing Nationalism, creating a foot stool for the rise of Fascism. But, that's history, of course.
​
​Even if currency were to be phased out, we could still collect coins in the form of non-circulating coins.
​
​The value of a coin is not always it's monetary or bullion value. There are other marketing and presentation aspects to consider, not to mention the aesthetic and rarety value. Silver UK 50p's have a bullion value of £3.03 GBP, but to buy from the Royal Mint are £60 GBP and as in the case of the first Peter Rabbit, now worth several hundred Pounds.
​
​http://www.bbc.co.uk/news/uk-43106065

​I think you mean 'followed by', since the currency devaluations (mainly 1922-23 Germany and 1917-22 Russia during it's civil war) were in large part caused by reparations and internal political instability in the post war world. In 1924-29 Weimar Germany had the semblance of a prosperous nation (comes with less agitating demagogues) especially with American loans helping bail them out and keeping the lynchpin of the 1920s world economy together, but the 1929 Wall Street Crash meant Germany was once again plunged into economic limbo.

But I wholeheartedly agree that financial woes caused people to give more attention to far left and right fringe parties which in turn lead to infighting and eventually the rise of totalitarian regimes.

Quote: "CassTaylor"​

Quote: "X4JOE"​I find it hard to imagine a world without real coins, where all transactions are digital. You know, when you have a coin in your pocket, you can spend it easily at the local shop.
​​
​​But crypto currencies, seem so distant and appear more easily manipulated by the unscrupulous. Especially, recently, in a world where, whoever shouts loudest wins. The collapse of virtual currency is inevitable, because the majority of people base the wealth in the physical world. Luckily governments provide a legitmate vehicle for people to spend their hard earned money, in coinage and banknotes.
​​
​​The promoters of any virtual currency that becomes worthless, will not want to listen to hard facts and real world practicality, they become angry and are the first to pass the blame on to someone else, rather than own the consequences themselves.
​​
​​The First World War was preceded by massive currency devaluations and the breakdown of liberal values, paving the way to right wing Nationalism, creating a foot stool for the rise of Fascism. But, that's history, of course.
​​
​​Even if currency were to be phased out, we could still collect coins in the form of non-circulating coins.
​​
​​The value of a coin is not always it's monetary or bullion value. There are other marketing and presentation aspects to consider, not to mention the aesthetic and rarety value. Silver UK 50p's have a bullion value of £3.03 GBP, but to buy from the Royal Mint are £60 GBP and as in the case of the first Peter Rabbit, now worth several hundred Pounds.
​​
​​http://www.bbc.co.uk/news/uk-43106065

​​I think you mean 'followed by', since the currency devaluations (mainly 1922-23 Germany and 1917-22 Russia during it's civil war) were in large part caused by reparations and internal political instability in the post war world. In 1924-29 Weimar Germany had the semblance of a prosperous nation (comes with less agitating demagogues) especially with American loans helping bail them out and keeping the lynchpin of the 1920s world economy together, but the 1929 Wall Street Crash meant Germany was once again plunged into economic limbo.
​
​But I wholeheartedly agree that financial woes caused people to give more attention to far left and right fringe parties which in turn lead to infighting and eventually the rise of totalitarian regimes.

​You are absolutely right. My grasp of modern history is only rudimentary, but even I can see the worrying parallels with the rise of Populism we have today. The bully boy tactics, of shouting down the middle ground and blaming minorities for all the ills of society, leaving politicians looking incompetent and ineffectual is remniscent of the Nazi ideology of the 1930's. I imagine people listenting to Hitler spouting the same old bile day after day, were surprised when they were swept along with the euphoria of nationalism. Leaving others feeling powerless to do anything to stop it.
With the likes of Trump, Farage, Bannon et al throwing fuel to the fire, it seems like history is trying to repeat itself. No wonder we see so many vile opinions being served to us on a daily basis, on social media.

Quote: "X4JOE"​
​​You are absolutely right. My grasp of modern history is only rudimentary, but even I can see the worrying parallels with the rise of Populism we have today. The bully boy tactics, of shouting down the middle ground and blaming minorities for all the ills of society, leaving politicians looking incompetent and ineffectual is remniscent of the Nazi ideology of the 1930's. I imagine people listenting to Hitler spouting the same old bile day after day, were surprised when they were swept along with the euphoria of nationalism. Leaving others feeling powerless to do anything to stop it.
​With the likes of Trump, Farage, Bannon et al throwing fuel to the fire, it seems like history is trying to repeat itself. No wonder we see so many vile opinions being served to us on a daily basis, on social media.
​
​
​

​Couldn't agree more.

The old saying of 'Those who don't study history are doomed to repeat it' or something like that from Santayana seems to be rearing it's head; even if history doesn't repeat, it sure does rhyme somewhat with current events.

Politics on numista = no.
Politics with incorrect history = no + annoys oggy.

Please cease and desist.

Free discussion - Chitchat about ANY subject??????? ......ceased and desisted

Quote: "X4JOE"​Free discussion - Chitchat about ANY subject??????? ......ceased and desisted

​
Thanks

Quote: "oggy"​
​Please cease and desist.

​Gladly, but (and please don't take this as a sarcastic mouth off) I think this step should have been taken when a certain somebody starts raving about the "reptilian leftist cucks".