Britain Cancels its Currency but Keeps £1 million notes | Armstrong Economics

COMMENT: Message: I am a great fan of your blog and read all with interest. I was surprised to read £10 notes have been canceled, as I still regularly get £10 and £20 notes and send them even though electronic money transfer is increasingly the norm MR REPLY: Britain introduced the new “tenners” last September. There was a period when both could circulate. That term expired here in the Spring of 2018. You can exchange them at a bank, but you must have an account. If you do not have an account like myself, the currency exchange operations charge 20%. The eliminated the paper one pound notes back in 1984. They will be doing the same with £20 notes. They have not yet announced any release date for that one. The speculation is that the £50 notes will be discontinued. The Bank of England actually prints itself internally £1 million and £100 million pound notes. They are used only internally to back the paper currency issued by other banks such as the Bank of Scotland. They are used to back those notes which are exchangeable to Bank of England notes.
— Read on www.armstrongeconomics.com/international-news/britain/britain-cancels-its-currency-but-keeps-1-million-notes/

Juncker Celebrates 200th Birthday of Karl Marx | Armstrong Economics

The head of the EU, Jean-Claude Juncker celebrates the 200th anniversary of Karl Marx in Germany. What is really stunning, is that Karl Marx is not merely the champion of Communism which he adopted from the French Commune experiment during the French Revolution, but he has ignored the little fact that no other person in history is responsible for killing tens of millions of people, more than all the wars combined, who gave their lives for his ideology. To celebrate Karl Marx which advocates suppressing the people and taking all wealth from them and handing it to the state politicians is in itself a demonstration of exactly how the EU looks at its role today. We live in a very dangerous era for this is the collapse of Marxism and they will fight back with every ruthless means possible to save their theory of living off of other people’s money.
— Read on www.armstrongeconomics.com/armstrongeconomics101/economics/juncker-celebrates-200th-birthday-of-karl-marx/