Sweden Moving Towards Cashless Economy 447
cold fjord writes "Sweden is rapidly moving towards a cashless economy. How will Sweden, and other countries in the future, balance efficiency, privacy, government control, and civil liberties? Or will they do all that technology allows? 'Bills and coins represent only 3 percent of Sweden's economy, compared to an average of 9 percent in the eurozone and 7 percent in the U.S. ... The Swedish Bankers' Association says the shrinkage of the cash economy is already making an impact in crime statistics. The number of bank robberies in Sweden plunged from 110 in 2008 to 16 in 2011 — the lowest level since it started keeping records 30 years ago. It says robberies of security transports are also down. The prevalence of electronic transactions — and the digital trail they generate — also helps explain why Sweden has less of a problem with graft than countries with a stronger cash culture, such as Italy or Greece, says economics professor Friedrich Schneider of the Johannes Kepler University in Austria. The flip side is the risk of cybercrimes. According to the Swedish National Council for Crime Prevention the number of computerized fraud cases, including skimming, surged to nearly 20,000 in 2011 from 3,304 in 2000.'"
Re:Woe Be The Day Cash Becomes Illegal (Score:5, Funny)
That's why I always carry around a few small gold nuggets in case I need to pick up a bag of rice or a horse or something.
Re:Scary (Score:5, Funny)
Re:Scary (Score:5, Funny)
Yes, because gulags are a real problem in countries like Sweden.
Re:Woe Be The Day Cash Becomes Illegal (Score:3, Funny)
The currency that has had the most steady value in terms of a laborers wage over the last 4 thousand years is beer.
Beer is difficult to transport (bulky compared to its value) and spoils rather quickly. Distilling it to whiskey is a better option. The Scotch-Irish figured that out a few centuries ago.
And if they could avoid liquidating their profits, they'd be the richest countries on earth.