{"id":46033,"date":"2019-05-10T06:12:39","date_gmt":"2019-05-10T11:12:39","guid":{"rendered":"https:\/\/olduvai.ca\/?p=46033"},"modified":"2019-05-10T06:12:43","modified_gmt":"2019-05-10T11:12:43","slug":"cashless-sweden-suddenly-warns-citizens-hoard-banknotes-coins-in-case-of-cyber-attack-or-war","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=46033","title":{"rendered":"“Cashless” Sweden Suddenly Warns Citizens: Hoard Banknotes & Coins In Case Of Cyber-Attack Or War"},"content":{"rendered":"\n

“Cashless” Sweden Suddenly Warns Citizens: Hoard Banknotes & Coins In Case Of Cyber-Attack Or War<\/a><\/h3>\n\n\n\n

For years, we have commented<\/a> on the Swedish government and the Riksbank pushing for a \u201ccashless society.\u201d <\/strong><\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

The Riksbank has over 1,000 articles posted on its website on the \u201ccashless society<\/a>\u201c. The emphasis worked: between 2013 and 2017, the amount of cash in circulation<\/a> dropped by 35%, earning Sweden a reputation as the world\u2019s \u201cmost cashless nation\u201d:<\/strong><\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

Many of Sweden\u2019s bank branches had stopped handling cash altogether. <\/strong><\/p>\n\n\n\n

Figures from the Royal Institute of Technology in Stockholm show that only 18% of all payments made today in Sweden are in cash<\/strong> \u2013 a 15% drop from the previous year. Meanwhile figures from the Swedish Trade Federation show that most Swedish retailers say that 80% of their commerce is from card payments.<\/strong> A number that probably will be 90% by 2020. Such is the appetite for digital commerce in Sweden that many predicted it could become the world\u2019s first cashless society.<\/p>\n\n\n\n

But, now<\/strong>, as The Daily Mail reports,  <\/a>The Swedish Civil Contingencies Agency, an arm of the government, has sent guidance to every home telling residents to squirrel away \u201ccash in small denominations\u201d in case of emergencies ranging from power cuts or technology glitches to terrorism, cyber-attacks by a rogue government or war.<\/strong><\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

Riksbank, the country’s central bank, last week called for an inquiry into the risks posed by a future cashless society.<\/p>\n\n\n\n

Officials told parliament that hard cash was important “not just in times of crisis and war, but also in peacetime.”<\/em><\/strong><\/p><\/blockquote>\n\n\n\n

In December, Britain\u2019s Access to Cash Review warned that Britain too was \u2018sleepwalking into a cashless society\u2019,<\/strong> the Daily Mail reported.<\/p>\n\n\n\n

Chair Natalie Ceeney said, “If we don\u2019t take action now in this country, we\u2019re only a couple of years away from Sweden.”<\/strong><\/em><\/p>\n\n\n\n

\u00a0\u2026click on the above link to read the rest of the article\u2026<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

“Cashless” Sweden Suddenly Warns Citizens: Hoard Banknotes & Coins In Case Of Cyber-Attack Or War For years, we have commented on the Swedish government and the Riksbank pushing for a \u201ccashless society.\u201d  The Riksbank has over 1,000 articles posted on its website on the \u201ccashless society\u201c. The emphasis worked: between 2013 and 2017, the amount of cash in circulation dropped […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[1035,1034,2077,862,4318],"class_list":["post-46033","post","type-post","status-publish","format-standard","hentry","category-economics","tag-cash","tag-cashless-society","tag-cyberattack","tag-war","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/46033","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=46033"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/46033\/revisions"}],"predecessor-version":[{"id":46034,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/46033\/revisions\/46034"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}