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£50 billion in UK banknotes is 'missing.' Nobody has an explanation
Here's a head-scratcher: The use of cash has been declining for years in Britain, but demand for banknotes is skyrocketing. Nobody is quite sure where the money is going. A group of UK lawmakers said on Friday as much as £50 billion ($67.4 billion) in cash was "missing," and it urged the Bank of England to investigate. The money is "stashed somewhere but the Bank of England doesn't know where, who by or what for — and doesn't seem very curious," Meg Hillier, chair of the House of Commons Public Accounts Committee (PAC), which oversees government finances, said in a statement. "It needs to be more concerned about ... (full story)
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