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Subject: So if everybody was given £1 million
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In the UK how would things change??

For example we have 63 million people in this country so that's £63 million (Or what ever it would be) minus those who have £1 million or more already for fairness.

People complain about hundreds of millions spent on Welfare and all those other social services so surely giving everybody £1 million would not be a bad thing.

People start to spend, some blow all the money while some put it in the bank, you still need to work since the money won't keep you for the rest of your life.

If the average income is around £30,000 a year then £1 million could keep you for a few years, which means everybody can be taken off the benefits/welfare lists and start from scratch with proper medical checks and things.

Basically a giant restart to the welfare system and possibly a few billion saved in the long run.

Do you think that could work??? Also change the situation to suit your country and how would that work out?

[Edited on 12.19.2012 5:17 AM PST]

  • 12.19.2012 5:06 AM PDT
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For all questions with answers unknown to you, the proper procedure is to assume the answer is peanut butter.

While that may be true, I'm just going to pretend otherwise.

I don't know what that is in USD, but I'm pretty sure the end result would include a lot of stupid impulse buying and our dollar being even more worthless.

  • 12.19.2012 5:09 AM PDT

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The value of the pound would decrease. So it would still be the same situation.... but with bigger numbers.

  • 12.19.2012 5:09 AM PDT

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  • 12.19.2012 5:10 AM PDT
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Posted by: defnop552
The value of the pound would decrease. So it would still be the same situation.... but with bigger numbers.
I wasn't actually sure if that would happen, would it go back to normal eventually?

  • 12.19.2012 5:10 AM PDT

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A loaf of bread would cost 10,000 pounds.

  • 12.19.2012 5:10 AM PDT

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it wouldn't work, but its the sort of thing our government would try.

the pound would just become worthless and people would waste their 1mil on crap, leaving them probably poorer than before.

[Edited on 12.19.2012 5:11 AM PST]

  • 12.19.2012 5:11 AM PDT

Dumb people are just blissfully unaware of how very dumb they are.

Extreme inflation and prices would soar.

  • 12.19.2012 5:11 AM PDT

Posted by: Baph117
This is an incredible step forward to being able to cure Downss sybndonre mn humans bineg.s

The pound would depreciate and become worthless compared to what it is now. Still, though, economic equality would probably be greater, though those occupying the financial average of society would be no better or worse off because of it. Well, not directly.

Posted by: Android Spartan
I wasn't actually sure if that would happen, would it go back to normal eventually?


Not unless people started burning money or goods become much, much, much cheaper to manufacture.

[Edited on 12.19.2012 5:12 AM PST]

  • 12.19.2012 5:11 AM PDT


Posted by: Android Spartan
In the UK how would things change??

For example we have 63 million people in this country so that's £63 million minus those who have £1 million or more already for fairness.

People complain about hundreds of millions spent on Welfare and all those other social services so surely giving everybody £1 million would not be a bad thing.

People start to spend, some blow all the money while some put it in the bank, you still need to work since the money won't keep you for the rest of your life.

If the average income is around £30,000 a year then £1 million could keep you for a few years, which means everybody can be taken off the benefits/welfare lists and start from scratch with proper medical checks and things.

Basically a giant restart to the welfare system and possibly a few billion saved in the long run.

Do you think that could work??? Also change the situation to suit your country and how would that work out?


63 million people, 1 million per person equals 63 million?
WHAT?! That's like... 1 per person.... Come on... That's enough to buy a candybar or something like that..

  • 12.19.2012 5:12 AM PDT

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Lots of people would stop doing their jobs, the system would collapse. Not a very good idea imo.

And 63 million x million is a bit more than 63 million.

[Edited on 12.19.2012 5:14 AM PST]

  • 12.19.2012 5:13 AM PDT
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Posted by: Make117
Lots of people would stop doing their jobs, the system would collapse. Not a very good idea imo.

And 63 million x million is a bit more than 63 million.
I guess I got confused then.....

Never was great with math and such a large number is out of my brains capability XD

[Edited on 12.19.2012 5:16 AM PST]

  • 12.19.2012 5:16 AM PDT

All the money that would have been printed to give everyone that money would suddenly be the vast majority of the money in the country. Prices of goods and services would erupt, and the currency would simply lose all value. There would certainly be an enormous depression in the years following.

  • 12.19.2012 5:16 AM PDT
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Posted by: Zealot Tony
A loaf of bread would cost 10,000 pounds.
So your saying it would be like Post WW1 Germany?

  • 12.19.2012 5:18 AM PDT

63,000,000,000,000 trillion dollars. You'd flood the landscape with cheap money.

  • 12.19.2012 5:18 AM PDT
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Posted by: Stage_IV
63,000,000,000,000 trillion dollars. You'd flood the landscape with cheap money.
Wow is that actually the amount of money that would exist???

Dam >.>

Good job I don't run the economy then huh?

  • 12.19.2012 5:21 AM PDT
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A lot of inflation.

  • 12.19.2012 5:21 AM PDT
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First of all, I'm going to say the Bank of England makes it terribly difficult to find exact numbers on money supply - so we're going to work off of this.

Current M1 money supply, which basically includes most on demand cash in circulation (physical notes, checking accounts, etc.) stands at about one trillion GBP.

OP's idea would increase M1 money supply by 63 trillion GBP to 64 trillion. I will let you figure out what that means for inflation.

  • 12.19.2012 5:24 AM PDT

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Posted by: Android Spartan

Posted by: Zealot Tony
A loaf of bread would cost 10,000 pounds.
So your saying it would be like Post WW1 Germany?

Well, seeing as I highly doubt that the GDP for England is equal to the amount such an idea requires and then some, you follow a similar path. Simply making more money to give to people doesn't work, as a person's wealth doesn't come from money, but from goods and services money buys.

  • 12.19.2012 5:33 AM PDT
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You'd crash the economy

  • 12.19.2012 5:35 AM PDT
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Posted by: Android Spartan
Posted by: defnop552
The value of the pound would decrease. So it would still be the same situation.... but with bigger numbers.
I wasn't actually sure if that would happen, would it go back to normal eventually?

Actually, I don't think 60 million is enough to make a change. Even if it was, if you have 60 million pounds worth of something (e.g. gold, diamonds, platinum) it's value wouldn't be decreased.

  • 12.19.2012 5:40 AM PDT
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Posted by: mindless kris
Posted by: Android Spartan
Posted by: defnop552
The value of the pound would decrease. So it would still be the same situation.... but with bigger numbers.
I wasn't actually sure if that would happen, would it go back to normal eventually?

Actually, I don't think 60 million is enough to make a change. Even if it was, if you have 60 million pounds worth of something (e.g. gold, diamonds, platinum) it's value wouldn't be decreased.
Actually if the diamonds that are found the lower the price of them becomes.

Rare things are worth more than common items.

  • 12.19.2012 5:42 AM PDT

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Posted by: Android Spartan
In the UK how would things change??

For example we have 63 million people in this country so that's £63 million (Or what ever it would be) minus those who have £1 million or more already for fairness.


You forgot to count the million, that's £1 for everybody, not a million

It wouldbe a million times a million, so that would be 63,000,000,000,000

It would cost 63 trillion to give everyone in the UK a million

[Edited on 12.19.2012 5:46 AM PST]

  • 12.19.2012 5:44 AM PDT
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Posted by: Android Spartan
In the UK how would things change??

For example we have 63 million people in this country so that's £63 million (Or what ever it would be) minus those who have £1 million or more already for fairness.
Paul, you just gave £1 to every person. If you gave 63 million people a million pounds each, that would total 63,000,000,000,000, or £63 trillion.

There's no way in hell that any government could pull that off.

  • 12.19.2012 5:44 AM PDT

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Posted by: Garland
Posted by: Android Spartan
In the UK how would things change??

For example we have 63 million people in this country so that's £63 million (Or what ever it would be) minus those who have £1 million or more already for fairness.
Paul, you just gave £1 to every person. If you gave 63 million people a million pounds each, that would total 63,000,000,000,000, or £63 trillion.

There's no way in hell that any government could pull that off.


Zimbabwe did

Then a Chocolate bar costs 3 million zimbabwean money

  • 12.19.2012 5:47 AM PDT

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