Moneyweek: Hands Off Our Cash Petition
Andy Haldane recently floated the idea of abolishing cash so that radical monetary policy like negative interest rates can be implemented.
You can sign the Moneyweek petition against this here:
http://moneyweek.com/wp/hands-off-our-cash-petition
Whereas the Bank of England’s Chief Economist Andrew Haldane announced on 18th September 2015 his intention to abolish use of cash in Britain in order to allow the bank to impose negative interest rates on savers;
Whereas this would allow banks to charge you to keep your money on deposit and make it impossible to remove your money as cash in response;
Whereas Denmark, Sweden and Switzerland have already imposed negative interest rates;
Therefore, we the undersigned, as concerned savers and investors of Great Britain, do call on Her Majesty’s British Government to:
1 Guarantee that cash will not be abolished from use in the UK2 Guarantee that negative interest rates will not be imposed undemocratically on British savers3 Establish a form of public consultation on the specific mandate and monetary policy limitations of the Bank of England
