Almost wet my pants laughing! Skeptik is completely right here.skeptik wrote:If you handed them a fifty and if they've got any sense of humour they'd probably give you five ten pound notes while trying to keep a straight face.DaBeeeenster wrote:I am 90% sure it is gold. The problem is that (and I think I'm right in saying this) the Bank of England dont have enough gold to pay everyone back; google "fractional reserve lending" for more info.bigjim wrote:That site looks really good.
I've posted a completely different question- for info, it was:
It says on English banknotes, "I promise to pay the bearer on demand the sum of five/ ten/ twenty/ fifty pounds".
What happens if you go into the Bank of England and you demand the sum of five/ ten etc pounds? What do they give you- coinage? Gold? Oil? Lead?
I've always wondered about that one. Anyone here know?
Dear Questionswap.com
Moderator: Peak Moderation
The Bank of England is the UK central bank & they issue all the English (though not Scottish) banknotes, a little like the U.S.A. Federal Reserve. They aren't a commercial high street bank & only carry out banking business for the government & other licenced banks, not ordinary customers.Stormcentre wrote:Is there only one Bank of England, in London?
AllanH