Wednesday 13 July 2005

Royal Bank fights inflation

Whereas the Bank of England looks likely to continue its War on Savers by cutting interest rates shortly, the Royal Bank of Scotland is doing its bit to fight inflation:
ONLY the irredeemably romantic could fail to recognise the marketing astuteness behind the Royal Bank of Scotland's decision to issue a special £5 note in honour of Jack Nicklaus.

This mild cynicism over the commercial aspect of the exercise is not, however, sufficiently distracting to obscure the fact that it is an extraordinary form of acknowledgment of a colossal talent. Even George Washington managed only the one-dollar bill.

The Edinburgh-based bank, now an institution of global renown, will put two million of the special fivers into circulation from tomorrow, the first day of the celebrated Nicklaus's last major championship. They will undoubtedly disappear from the streets with the suddenness of urchins sensing an approaching copper, RBS having achieved a priceless level of publicity it doesn't even have to buy.

So the Royal will be issuing money, but stuff that will immediately be removed from circulation by the public. I'll be going to St Andrews on Friday and shall do my bit to reduce the nation's money supply. Could we extend this idea? How about Tony Blair one pound notes issued on perforated toilet paper?

1 comment:

David Farrer said...

Comments made on previous template:

Philip Martin
have just stumbled across your blog as's not up to much is's pretty funny seeing you flog the dead horse of libertarianism...get the govt. off our backs!...ha ha...shall we have corporations running everything?...shortest way to depression possible...anyway..why have a tag from Robert Burns?...he certainly would not have favoured your brand of fact there is very little in Scottish history in favour of the kind of society you propose...what a silly prick you are...
from an agrarian populist
16 July 2005, 14:08:40 GMT+01:00 – Like – Reply

Mrs. T
Stumbled across your blog today.. good stuff.
16 July 2005, 04:20:12 GMT+01:00 – Like – Reply

Come now; if it were a Blair product, the perforations wouldn't work.
14 July 2005, 13:14:33 GMT+01:00 – Like – Reply

More evidence of inflation ...
14 July 2005, 10:24:59 GMT+01:00 – Like – Reply

The Bagged Bear
It's a bit big for a fiver isn't it? More like a towel.
14 July 2005, 07:24:49 GMT+01:00