In a recent Forbes article Dave Birch asks where has all the money gone?
The use of cash is going down but the amount of cash out there is going up. Where is it all?
In the UK, a committee of MPs has said that the Bank of England should be trying to track down £50bn of “missing” UK currency. This is about three-quarters of all UK banknotes in existence! So where is all of this missing cash? Is it all being used by money launderers or people bribing government officials to obtain COVID-related contracts or are there more benign explanations?