Currency and value questions

Mr Young made this Freedom of Information request to Bank of England

This request has been closed to new correspondence from the public body. Contact us if you think it ought be re-opened.

The request was partially successful.

Dear Bank of England,
Reading an earlier response in the link
"You may be interested to know that from its foundation in 1694, the Bank
of England has issued notes promising to pay the bearer a sum of money.
For much of its history the promise could be made good by the Bank paying
out gold in exchange for its notes. The link with gold helped to maintain
the value of the notes, although the link was sometimes suspended, for
example in wartime. The link with gold was finally broken in 1931 and
since that time there has been no other asset into which holders have the
right to convert Bank of England notes. They can only be exchanged for
other Bank of England notes. Nowadays public faith in the pound is
maintained in a different way - through the Bank of England's operation of
monetary policy, the object of which, by statute, is price stability"

So how can the note have anymore than implied value, further to this we are all using a currency that by being unredeemable is technically worthless.

Why are De La Rue printing money as a private company and not a state controlled printers.
Will De La Rue accept notes they have printed or how are they paid?

How are payments to foreign companies and governments paid if as per the link below they are not legal currency

Are the Rothchild or any other for profit empire in any way involved with the bank of england?

Has the Bank of England directly or indirectly gained by recent wars.

Does the bank of England have assets to cover all notes and liabilities?

How do we set up an alternative currency? would we need to have gold or other reserves to cover currency value?

Yours faithfully,

Mr Young

Enquiries, Bank of England

Dear Mr Young

We acknowledge receipt of your email dated 16 March (our ref FF
25252).  We will reply in due course.

If you have any queries please contact the Bank's Public Information and
Enquiries Group on 020 7601 4878.

Yours sincerely

Public Information and Enquiries Group

Bank of England | Threadneedle Street | London | EC2R 8AH | +44 20 7601

[1][Bank of England request email]

show quoted sections

Enquiries, Bank of England

1 Attachment

Dear Mr Young

Please find attached a response to your email dated 16 March below.

Yours sincerely

Public Information & Enquiries Group
Bank of England |Threadneedle Street|London|EC2R 8AH|+44 (0)20 7601 4878
[Bank of England request email]

show quoted sections

Looking for an EU Authority?

You can request documents directly from EU Institutions at our sister site . Find out more .