New Home Owners And Snagging Forum
Investments => Cash ISAs and saving accounts => Topic started by: The Prophet on March 06, 2013, 10:47:34 am
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Government monetary policy is stealing your savings.
The real value of your savings is falling every day because of a toxic combination of Quantitative Easing (QE), low interest rate policies, cheap money from government (finding for lending) and uncontrolled runaway inflation.
The "Funding for Lending" scheme was designed to provide cheap money for banks to lend to business and mortgages.
This government supply of taxpayer subsidised cheap money has resulted in the Cash ISA interest rates now offered being at an all time low – even lower than inflation, as banks have little need for savers' money.
The Bank of England low interest rate policy has done little if anything to stimulate the economy.
It has meant that, according to the Centre for Policy Studies, savers are losing around £65billion a year as a result of the extreme monetary policy.