Was asked today how to stop run on banks. Answer – print £1,000 notes now so if run starts anyone can be paid quickly to stop queues
Hmm, paying everyone in not legal tender is really going to help.
Slightly more seriously, the problem with a bank run is that no one knows whether it is a bank run.
As soon as everyone does know it\’s a bank run then it\’s self-sustaining.
The appearance of £1,000 notes would be confirmation that it was a bank run…….