Sweden's Push to Get Rid of Cash Has Some Saying, 'Not So Fast'

[tmttactical]

A prepper's nightmare and Big Brother's dream. If there is no cash, then every transaction can and most likely will be recorded (no need to register firearms, Big Brother knows what , from whom and when). Then add to the problem of a grid down scenario, no access to your saving, earnings or any other financial means and you have the perfect storm.

"Cash is disappearing in the country faster than anyone thought it would. Now, officials are trying to slow its demise as they determine the societal costs.

Few countries have been moving toward a cashless society as fast as Sweden. But cash is being squeezed out so quickly — with half the nation’s retailers predicting they will stop accepting bills before 2025 — that the government is recalculating the societal costs of a cash-free future."

https://www.msn.com/en-us/money/mar...some-saying-not-so-fast/ar-BBPXDjp?li=BBnbfcN

 

[KateMTx]

This is probably a large part of the reason for the rise of untraceable, fungible cryptocurrencies like monero. Currently, it's probably almost entirely used for underworld transactions, but the more legitimate business that is conducted with it the more useful it will become. Of course, in a scenario where the internet is no longer usable, cryptocurrencies are useless, but I think cash would become useless rather quickly as well in such an event.

 

[DrPrepper1]

This is crazy. If any hacker wanted to bring a society to a hault, they could do it in Switzerland.

It’s not just people not using cash, everything is electronic. One virus or electronic hiccup and there would be chaos and pandemonium. Looks like someone is starting to wise up.

 

[Mountain trapper]

It's sad that people can be so gullible. But if that's what the people want it's their choice.

 

[user 7704]

It's probably going to be some nerd on his computer that brings the world to its knees by taking out the grid or shutting down the banks.

 

[lonewolf]

once the power goes down you wont have access to your bank by ATM or card reader, so it wont much matter in that context, and the store tills wont accept cash either because they are all electric and wont work in a power down situation, neither will the automatic doors for that matter.

 

[DrPrepper1]

It's probably going to be some nerd on his computer that brings the world to its knees by taking out the grid or shutting down the banks.

HA HA Yes!!

 

[lonewolf]

some computer virus or other I expect.

 

[Kevin L]

A prepper's nightmare and Big Brother's dream. If there is no cash, then every transaction can and most likely will be recorded (no need to register firearms, Big Brother knows what , from whom and when). Then add to the problem of a grid down scenario, no access to your saving, earnings or any other financial means and you have the perfect storm.

"Cash is disappearing in the country faster than anyone thought it would. Now, officials are trying to slow its demise as they determine the societal costs.

Few countries have been moving toward a cashless society as fast as Sweden. But cash is being squeezed out so quickly — with half the nation’s retailers predicting they will stop accepting bills before 2025 — that the government is recalculating the societal costs of a cash-free future."

https://www.msn.com/en-us/money/mar...some-saying-not-so-fast/ar-BBPXDjp?li=BBnbfcN

If Sweden goes cashless, how do you tip strippers and exotic dancers?

Are they going to have a plastic bar code thing attached to the g-string so I can wave my--uh, smartphone--at it?

 

[TexasFreedom]

Joke about it Kevin. But this is a real issue of how much of your life do you want big brother to track? Every ammo purchase. Every weapon purchase. Every body armor purchase. At some point any gov't agent would be able to know everything about you with just a few clicks. And just imagine what hackers can do to your life. You should re-read the books 1984 and Animal House. This level of loss of privacy will tie into gov't takeover of everything.

 

[Kevin L]

Joke about it Kevin. But this is a real issue of how much of your life do you want big brother to track? Every ammo purchase. Every weapon purchase. Every body armor purchase. At some point any gov't agent would be able to know everything about you with just a few clicks. And just imagine what hackers can do to your life. You should re-read the books 1984 and Animal House. This level of loss of privacy will tie into gov't takeover of everything.

I agree with you.

Sometimes when I'm utterly horrified, I joke as a way to come to terms with my loathing and disgust. I'm sure other people have better ways of coping, but joking is one of mine.

This idea of going cashless seems--to me--like undressing and having sex on a stage in front of millions of strangers. It makes my skin crawl.

Also, did you mean 'Animal Farm' by Orwell? Animal House was a great movie with John Belushi.

 

[Maverick]

Will, Hope I'm long gone and already metamorphosed back into dust before we change to cashless, 90% of my purchases are cash

 

[tmttactical]

Almost all my discrete purchases (ammo, private gun sales, etc.) are cash. Everything else is on my wifes debit card. As I pointed out in a previous post, I seldom leave the place. Not phobic, but have no real need to be around other folks. I do like cash deals and I am dreaded the loss of cash. Now that would have one positive feature, no more (illegal) day laborers or illegal aliens working here. The one good point is that all the registered firearms in the family are in my name. The government is going to be real disappointed when they raid my place on only find three or four weapons. The cashless society is going to make 1984 / Big Bother very real.

 

[Squirtgunsquirter]

Cashless is just begging for a disaster.

The logic of it completely escapes me.

Has to be about control, it has to. How are they framing this in Sweden? How are they trying to make this attractive to the citizenry?

 

[DrHenley]

How are they trying to make this attractive to the citizenry?

They don't have to. The Swedes are all for it.

 

[Mountain trapper]

I agree with you.

Sometimes when I'm utterly horrified, I joke as a way to come to terms with my loathing and disgust. I'm sure other people have better ways of coping, but joking is one of mine.

This idea of going cashless seems--to me--like undressing and having sex on a stage in front of millions of strangers. It makes my skin crawl.

But Kevin you did bring up a valid point. There would be an enormous retrofit of every small business to be able to take only plastic. If this were to happen in the US there would be massive business closures. Maybe not so much in the big cities, but there would be in the rest of the country. I also think that we'd end up up a huge "underground" economy. Trading and bartering would expand in a huge way.

 

[tmttactical]

Personal example of why I always have cash. Last year I went to help son, who is located in komifornia. I stopped in Yuma to gas up. Service station internet access was down and they could only accept cash. Guess who went to the front of the line. Yep, always keep cash on me, along with my EDC.

 

[DrHenley]

I went into a store last week that was only accepting cash because the system was down.

 

[user 7704]

I went into a store last week that was only accepting cash because the system was down.

Oh my, watching the cashiers try to make change without the cash register is painful.

Try giving them 2 pennies so you won't get back more and they look at you like you are crazy.

 

[Maverick]

Oh my, watching the cashiers try to make change without the cash register is painful.

Try giving them 2 pennies so you won't get back more and they look at you like you are crazy.

Some just can't think... my purchase was $1.07 so I gave her $5.02, utter confusement even after telling her just give me $3.95 back.. it get's baffling

 

[KateMTx]

But Kevin you did bring up a valid point. There would be an enormous retrofit of every small business to be able to take only plastic. If this were to happen in the US there would be massive business closures. Maybe not so much in the big cities, but there would be in the rest of the country. I also think that we'd end up up a huge "underground" economy. Trading and bartering would expand in a huge way.

The square app actually makes it fairly easy for small businesses to take credit cards with minimal confusion. The coffee shop next door to my office uses it. But when the internet is down, of course it doesn't work.

 

[Squirtgunsquirter]

None of this stuff is an improvement. I used to be able walk in, pick out whatever, if I wasn't sure how much money I had I could just look in my wallet! Slap down my stuff, register person look at tag, take my money hand me change.

Now it's a wreck, sometimes. Get my item, get out my phone, bring up banking app, put in password, navigate to account page, check for pending withdrawals, put away phone, get card from wallet, pit stuff on counter, scan items, bad barcode? Get different item, scan again, scan fails? Punch in item code on register, put card in slot, answer stupid questions, sign for purchase GAWD

It was so much better 10 years ago.

 

[KateMTx]

None of this stuff is an improvement. I used to be able walk in, pick out whatever, if I wasn't sure how much money I had I could just look in my wallet! Slap down my stuff, register person look at tag, take my money hand me change.

Now it's a wreck, sometimes. Get my item, get out my phone, bring up banking app, put in password, navigate to account page, check for pending withdrawals, put away phone, get card from wallet, pit stuff on counter, scan items, bad barcode? Get different item, scan again, scan fails? Punch in item code on register, put card in slot, answer stupid questions, sign for purchase GAWD

It was so much better 10 years ago.

But people had to do math! That is too hard for us millenials. . .

 

[Maverick]

A lot of the small ma and pop stores here use the old mechanical credit card imprinters

 

[tmttactical]

A lot of the small ma and pop stores here use the old mechanical credit card imprinters

Now this is going to sound strange, but when I opened my business and applied to accept credit cards, in credit card company rules, I had to have a mechanical card imprinter. Not accepting a card due to system down was not allowed. I never had to actually test if the enforcement would happen. I did have an imprinter, because I always want proof the card was present and used to make the sale.

I have used both Square and Shopify. Square is much better for POS (not what you are thinking --- POINT OF SALE). Shopify has a good online store setup but tries to make you sign up for their more premium plans. If you are going to have mobile sales (craft fairs, flea markets, etc.) stay away from Shopify, it is absolutely horrendous. If you are just using a web store, then shopify is decent. JM2C

 

[lonewolf]

I have never seen a card reader in the UK that wasn't connected to the electricity supply, that's why the markets and car boot sales are all cash, no electric supply.

 

[tmttactical]

I have never seen a card reader in the UK that wasn't connected to the electricity supply, that's why the markets and car boot sales are all cash, no electric supply.

The card imprinter is not connected to any electricity. It is a mechanical device that copies the raised number onto a carbon receipt paper. Very primitive but does function without electricity. The seller still have to resort to an electronic reporting device, to actually log in the sales. As stated, very primitive but helpful in very remote areas.

 

[lonewolf]

like I said, I have never seen those in the UK/.

 

[user 7704]

The card imprinter is not connected to any electricity. It is a mechanical device that copies the raised number onto a carbon receipt paper. Very primitive but does function without electricity. The seller still have to resort to an electronic reporting device, to actually log in the sales. As stated, very primitive but helpful in very remote areas.

Many new cards do not have raised numbers so they cannot be imprinted.

 

[user 7704]

Years ago I worked at J C Penny during Christmas. I worked on the computer imputing catalog orders.

One day they had many out sick and pulled me to the register. I forgot to run the imprint on MANY cards. I didn't get fired. I'm the one that brought it to their attention.

I stayed in the back from then on.