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Strategies & Market Trends : The coming US dollar crisis

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From: ayn rand12/16/2009 6:54:21 PM
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the end of checks in England

British banks, after three centuries of use, are beginning to phase out checks.

The board of the UK Payments Council, the body for setting payment strategy in Britain, agreed on Wednesday to set a target date of October 31, 2018 for winding up the check clearing system.

“There are many more efficient ways of making payments than by paper in the 21st century, and the time is ripe for the economy as a whole to reap the benefits of its replacement,” Paul Smee, the council chief executive, said in a statement.

clusterflock.org

food for thought!
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