one too keep an eye on.

[Sunna]

like most people I keep the majority of my cash in the bank but with this report in the paper , saying that the b o e may set a negative interest rate [meaning they will charge you to keep your cash with them] im thinking twice.

apart from under the bed where would put your cash , so you could get at it and its safe

http://www.dailymail.co.uk/news/article-...ldane.html

[bigpaul]

1 of Tesco's Denture tablet tubes will hold 50 £1 coins and who would look twice at a tube of denture tablets??

[Sunna]

the report also talks of a ban on cash , thay know lots of folk would take out their money and hide it.

also this shows what the ptb are thinking and how bad the economy is.

[bigpaul]

well I suppose one day we will have a "cashless" society, but I think that day is many years off.

[Straight Shooter]

What have i been saying ....for ages...

[bigpaul]

most people use cards these days, its easier, so I suppose one day cash will become irrelevant, already there are "pinless" cards but not so many yet, once they become commonplace I suppose they will just replace cash, same as they are trying to phase out cheques.

[Devonian]

I saw this on the news earlier, it's a non-story and just the opinion of one economist within the BoE, it is not future BoE Policy, nor does the governor of the BoE agree with it.

[Tarrel]

It's already beginning to happen. Denmark has -ve interest rates and France has banned cash transactions in excess of €1000 as of this month. Italy already has such a ban in place. It's the thin end of the wedge.

Such a move, carried to its logical conclusion, harms those who are being self-reliant in putting cash away for their later years and forces them to rely on institutional forms of investment instead, such as pensions and other paper assets. Precious metals are still an option. Until the physical holding of these becomes illegal also.

IMHO, this trend reinforces the Prepper's need to:
1. Reduce reliance on money and the financial system by becoming more self-sufficient in basic needs
2. Invest spare cash in tools and learning skills so that one has a tradeable skill and/or the ability to engage in small-scale cottage manufacturing of essential goods.

The title of this thread was "One to Watch". It's certainly one I'm watching very carefully, although I accept that we are probably a while away from it becoming a problem for the individual. But, putting in place mitigation strategies in the event it does becoame a reality, also takes a while!

---

A little closer to home, from last year:

http://www.bbc.co.uk/news/business-25861717

"HSBC Imposes Restrictions on Large Cash Withdrawals"

In the end they blinked on this one, but it shows the general trajectory of thinking.

[NorthernRaider]

Hello
Greek banks prepare plan to raid deposits to avert collapse
Kerin Hope in Athens
http://www.ft.com/cms/s/0/9963b74c-219c-...z3mDZV8Dkd

http://www.zerohedge.com/news/2015-07-03...ft-reports

FYI on Radio five live not so long ago the EU finance minister said it had considered giving haircuts to EVERY EU member states Savings and Deposit accounts and can see no reason why it should not if circumstances demand.
Hope this helps
Bye

[bigpaul]

if you read alternative sources, you will also find its on the other side of the pond too, so its just a rumour that's doing the rounds, not actual policy .