|Posted by George Freund on September 20, 2015 at 7:00 AM|
One in six Britons is hoarding cash at homes according to a new survey
On average, there is £345 stashed behind the sofa or under a mattress
The BoE said they may have to increase the number of notes in circulation
As a result, the BoE is being forced to print additional bank notes
Where I agree with being self reliant just in case of a crisis, money invested is working to stimulate an economy. This is a symptom of the low interest rates. It doesn't pay to deposit. With fees it may even cost you to keep your money in the bank. A reasonable rate allows investors to make money from their accounts. That money can allow someone to actually support the global economy outside of the markets. It worked for me in my youth. A bank account earned 7 per cent for the unsophisticated investor. It was worth having a savings accout. This is a factor in the pressure on the economy. When the relief valve blows, at least you'll have your 'hoard.'