Sweden 'on way to becoming cashless society'

[webfact]

Sweden 'on way to becoming cashless society'



"Cash will cease to play any real role in the society. It might still exist in theory but would not play any financial role"

STOCKHOLM: -- Cash is falling out of favour in Sweden, according to a research study at the Royal Institute of Technology in Stockholm.

Many Swedes like people everywhere remain attached to their currency, the krona, which has been used since 1873.

However, it seems the embrace of technology in the country means the use of cash is diminishing rapidly.

While card payments have increased, the amount of cash in circulation has fallen by a quarter in six years despite an annual growth in the economy.

Some believe one day physical money may disappear altogether.

“Previously I have always said that around the year 2030 Sweden will, in effect, become cashless – meaning that cash will cease to play any real role in the society. It might still exist in theory but would not play any financial role. But when I look at the developments over the last two years, then I actually think that it will happen faster. We might see it happening in ten years, or even faster than that,” said Niklas Arvidsson, an associate professor at the Royal Institute of Technology.

Other people believe that if cash does disappear, a part of Sweden’s national identity will go with it.

“Money plays a part in the formation of a national identity, ‘I have money that comes from my country’. There is a certain pride in it and a pride when you can exchange it for other money – like dollars or other currencies. So I think there is some kind of national value and national pride in having money,” said Torbjoern Sundquist, curator at the Royal Swedish Coin and Economics museum.

Will everyone adapt to the new world? Sweden’s National Pensioners Organisation says many of its members are falling behind in the increasingly cashless society.

It’s calling for gradual rather than abrupt change to avoid a clash of generations.


-- (c) Copyright Euronews 2015-12-15

[trogers]

Because they have none! It all goes to their government who then credit them a little at a time...

[ezzra]

Talking to some Sweedish people I know, they much prefer to become Muslim-less society as well....

[Rooo]

Oh dear, what are they going to give the buskers beggars if any at this time. They will probably have swipe terminals.

[Scott]

Some time ago, there was a thread about homeless people in the US city of LA or San Francisco, I believe, who were given credit card machines so that people could donate without giving cash.

[lust]

Amazing. The bible itself predicted this. For years we have been watching it unfold. Very slowly.. Just enough changes every year to not frighten anyone, but enough to remind you that very soon, we will be implanted with RFID. The news is all around us. The technology already exists. People are already using this technology.

We are inevitably doomed.

Have a nice day.

[Credo]

I've spent most of my life cashless. I am glad society will now be joining me.

[lust]

I've spent most of my life cashless. I am glad society will now be joining me.

Cashless doesn't mean broke, sir.

[Credo]

I've spent most of my life cashless. I am glad society will now be joining me.

Cashless doesn't mean broke, sir.

Well, sir, it certainly can mean broke.

[trogers]

I've spent most of my life cashless. I am glad society will now be joining me.

Cashless doesn't mean broke, sir.

Well, sir, it certainly can mean broke.

One can be broke when one's worth is held in some computer data bank. The good old days are those where people hold physical assets - like a gold coin...

[maanoi]

Oh no what will the drug dealers do!? Terrible for them.

[giddyup]

Talking to some Sweedish people I know, they much prefer to become Muslim-less society as well....

Them and everyone else.

[LuckyNo4]

Control at its finest...a model for other countries to follow suit shortly, watch and see.

I love cash, why should i have to pay additional fees to transact at a shop using a damn card, its nothing more than another form of tax and everything you do is monitored.

[hhinhh]

Oh dear, what are they going to give the buskers beggars if any at this time. They will probably have swipe terminals.

That is not the only thing, how can a grandma give the grandson some bucks, how can you tip the bellboy, how to pay at a flee market etc.?

The only background is that goverments want to get more and more control of everyone. We should not let them go with this attitude. I myself deny as well being member of facebook because this supports such attitudes.

[wabothai]

Which means: ALL moneys earned are taxable.

And not only Sweden.

In the future we will see an allowance from the government to pay for tips, etc.

INTRUCION !!!

Edited December 15, 2015 by wabothai

[Krataiboy]

Some believe one day physical money may disappear altogether.

It virtually has already. Ninety seven per cent of the money in circulation exists only on computers and is not backed by an asset. Most of the big banks are technically bankrupt, with outstanding liabilities they can never meet. The same goes for governments up to their necks in unpayable debt. Historically low borrowing rates cannot be sustained indefinitely - and a derivatives bubble of more than one quadrillion dollars is waiting to pop.

No prizes for guessing where all this is leading.

Edited December 15, 2015 by Krataiboy

[torpedo1970]

Control at its finest...a model for other countries to follow suit shortly, watch and see.

I love cash, why should i have to pay additional fees to transact at a shop using a damn card, its nothing more than another form of tax and everything you do is monitored.

I do agree with you.

BUT

AS they have actually done a brilliant job of it.... there is no fees to be paid by card transactions by debit cards.... only credit cards have fees. (all over Scandinavia)

I was in Sweden last year and at 7/11 the boy in front of me swiped his card to buy a packet of bubble gum.....

And i was looked strange upon when i want to pay with my cash..... (like a criminal)

[dageurreotype]

I've spent most of my life cashless. I am glad society will now be joining me.

Cashless doesn't mean broke, sir.

Well, sir, it certainly can mean broke.

One can be broke when one's worth is held in some computer data bank. The good old days are those where people hold physical assets - like a gold coin...

Ah, you mean the gold coin Gaddifi wanted to reintroduce in place of petro dollars and was murdered for? That gold coin?

[RachaRob]

Cashless will mean governments will have full control of YOUR money. Look at Cypress the govt confiscated (stole) a good percentage and the Greek situation where cash controls meant you could not access your own money. Imagine you forget to pay a parking fine and all of a sudden your bank accounts get frozen. Don't think it would happen?

[bangkapi]

I'll go back to barter before I buy into the fully "cashless" scam.

Nobody has the right to know and tax every transaction I make with another person.

And why do I want to work for some debt-based fractional reserve digits stored in the ether when at least I can see the worthless debt based fractional reserve paper and coin representation of my time and sweat?

What we need are currencies backed by precious metals so that they can't be conjured by the criminal bankers who own and run these paper and soon to be "cashless" schemes.

[uptheos]

When they eventually go Shariah, there won't be any need for cash.

Shouldn't be too long they're heading back to the 7th century quite fast.

[jaidam]

When they eventually go Shariah, there won't be any need for cash.

Shouldn't be too long they're heading back to the 7th century quite fast.

Someone earlier in the thread was concerned how to pay Swedish buskers. The mind boggles. What part of Sharia do you not get? Performing and visual arts are a no no. Not sure if its a chucked off a building, a beheading, an amputation, or just a stoning, but either way there will be no music, no arts and no buskers in Sweden very very soon.

[Jingthing]

Not happening in Thailand anytime soon!

[MiKT]

fake ATMs1.jpg.bmpSwipe Here

[AZBill]

Sweden is on its way to losing its culture!

[LuckyNo4]

Ah, you mean the gold coin Gaddifi wanted to reintroduce in place of petro dollars and was murdered for? That gold coin?

http://www.thenewamerican.com/economy/markets/item/4630-gadhafi-s-gold-money-plan-would-have-devastated-dollar ...in other words economic warfare....which aint ever gonna be tolerated sunshine

[lovelomsak]

In Canada now you have to give the bank notice of any big cash withdrawal.$5000 or more has to be documented and a lawyer must be present. I wanted $2000 one day I took the cashiers total amount of cash she had. Got the $2000 in coins,1 dollar bills,5's you get the idea.

Hard to tip the porter without cash huh.

[Chicog]

Ah, you mean the gold coin Gaddifi wanted to reintroduce in place of petro dollars and was murdered for? That gold coin?

http://www.thenewamerican.com/economy/markets/item/4630-gadhafi-s-gold-money-plan-would-have-devastated-dollar ...in other words economic warfare....which aint ever gonna be tolerated sunshine

Amazes me how people gobble up this conspiracy nonsense again and again.....

[balo]

It's the same in Norway, if you hand over coins in a shop the staff will look at you in a strange way.