Scrap money and go digital, says Bank of England

If you’ve been reading the posts on here, this will come as no surprise.

By Selina Sykes
Andy Haldane has proposed that Britain should abandon our centuries-old system and opt for a government-backed digital currency.

The Bank of England’s radical thinker argues such a move would give the bank new flexibility in the event of another economic downturn.

Mr Haldane said negative interests could be necessary to protect the UK economy and would help the Bank of England fight off the next recession.

Reading the comments below the article shows that the public isn’t fooled by this.   Realisation is a first step – what’s required is concerted action.