Negative interest rates would allow the banks to eventually reduce our savings to nothing. It is already happening in Japan. It makes sense to buy a big safe and keep your savings in it.
If interest rates are kept artificially low, why put money into banks? Bank accounts now are considered property of the banks and can be used to solve their own financial problems. Also, the government can seize accounts for its own reasons. https://www.rt.com/usa/199883-irs-structuring-civil-asset-forfeiture/
Worse is the "My IRA" plan floated by the Democrats. http://money.cnn.com/2014/01/29/retirement/myra-accounts/
On the face of it, it looks good. But, take another look and think about it. It looks like another con game to me.
When bank accounts in Greece were seized, cash became king.
This little gem just came out today regarding Japan's negative interest rates:
"The Finance Ministry plans to increase the number of ¥10,000 bills in circulation, amid signs that more people are hoarding cash.
It will print 1.23 billion such notes in fiscal 2016, 180 million more than a year earlier. The number of ¥10,000 bills issued annually leveled off at around 1.05 billion in the fiscal years from 2011 to 2015. Some financial market sources believe it is because more people are keeping their money at home rather than in banks, because interest rates on deposits have fallen to almost zero after the Bank of Japan introduced a negative interest rate in February."