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‘No Cash’ Signs Everywhere Has Sweden Worried It’s Gone Too Far
‘No Cash’ Signs Everywhere Has Sweden Worried It’s Gone Too Far Cash usage declining both as share of GDP and in nominal terms Riksbank committee could publish report on issue in summer Sweden ‘Most Cashless’ Society in the World The value oof notes and coins in circulation are the lowest in nearly 30 years. Bloomberg’s […]
From the Moneyness Blog: Electronic Money Will Only Save Central Banks From Subjugation if it is Anonymous
FROM THE MONEYNESS BLOG: ELECTRONIC MONEY WILL ONLY SAVE CENTRAL BANKS FROM SUBJUGATION IF IT IS ANONYMOUS 50 SEK banknote issued by the Riksbank in 1960 “Do we need an eKrona?” asks Stefan Ingves, the Governor of the Riksbank, Sweden’s central bank. The Riksbank is probably the central bank that has advanced the furthest in discussions surrounding […]
Corporate Coercion and the Drive to Eliminate Buying with Cash
Corporate Coercion and the Drive to Eliminate Buying with Cash “Sorry we’re not taking cash or checks,” said the clerk at the Fed Ex counter over a decade ago to an intern. “Only credit cards.” Since then, the relentless intensification of coercive commercialism has been moving toward a cashless economy, when all consumers are incarcerated […]
Transparent citizens, negative interest rates and other crazy ideas of economic experts
Transparent citizens, negative interest rates and other crazy ideas of economic experts In a March paper, Alexei Kireyev of the International Monetary Fund advises abolishing cash without having the citizens aware of the process. First, large banknotes are to be withdrawn from circulation, next limits on cash transactions are to be imposed, then computerization of […]
EU To Restrict Movement of Cash
EU To Restrict Movement of Cash The EU is now developing strict rules for carrying cash when traveling to non-European countries and returning to Europe. The revision of the First Cash Control Regulation from 2005, which stipulated that EU citizens should register cash in excess of € 10,000 when leaving the EU or when returning […]
How A North Korean Electromagnetic Pulse Attack Could Kill Millions And Turn America Into A Post-Apocalyptic Wasteland
How A North Korean Electromagnetic Pulse Attack Could Kill Millions And Turn America Into A Post-Apocalyptic Wasteland This is why North Korea’s test of an intercontinental ballistic missile is so important. North Korea had test fired a total of 22 missiles so far this year, but this latest one showed that nobody on the globe […]
Spain’s Third Biggest Bank Just Made it Harder to Get Cash
Spain’s Third Biggest Bank Just Made it Harder to Get Cash War on Cash bogs down, despite best efforts of government, banks, and credit card companies. Spain’s third biggest lender, CaixaBank, has just launched a pilot project in Madrid aimed at limiting cash services in their branches to less than three hours a day, from […]
China and Russia: Full Steam Ahead Towards a Cashless Society
China and Russia: Full Steam Ahead Towards a Cashless Society We reported back in November 2016 – Cashless World: 1 out of 3 People Never Use Cash – fewer and fewer people understand the importance of using cash to protect themselves from an overarching government warlord. At the time China’s use of digitized currency was growing […]
In a Cashless World, You’d Better Pray the Power Never Goes Out
In a Cashless World, You’d Better Pray the Power Never Goes Out When Hurricane Maria knocked out power in Puerto Rico, residents there realized they were going to need physical cash — and a lot of it. Bloomberg reported yesterday that the Fed was forced to fly a planeload of cash to the Island to help avert disaster: […]
“What Are We Going To Do?” Puerto Rico In Chaos As Cash Runs Out
“What Are We Going To Do?” Puerto Rico In Chaos As Cash Runs Out Most Puerto Ricans haven’t had access to electricity, cell service or financial services for nearly two weeks now. And as we reported yesterday, residents who didn’t stockpile enough cash have been struggling after Hurricane Maria essentially knocked the island’s economy into […]
Hurricane Maria Has Transformed Puerto Rico Into A “Cash Only” Economy
Hurricane Maria Has Transformed Puerto Rico Into A “Cash Only” Economy Electricity, internet access and cell phone service have been offline in parts of Puerto Rico for a whole week. And with the island still struggling to rescue people stranded in remote villages, those managing the emergency recovery effort have yet to focus their attentions […]
