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People In Sweden Are Hiding Cash In Their Microwaves - Cashless Society - Negative Interest Rates
BI ^ | 10-28-2015 | Jim Edwards

Posted on 10/28/2015 6:54:03 AM PDT by blam

Jim Edwards
October 28, 2015

Sweden is shaping up to be the first country to plunge its citizens into a fascinating — and terrifying — economic experiment: negative interest rates in a cashless society.

The Swedish central bank held its benchmark interest rate at -0.35% today, the level it has been at since July.

Although retail banks have yet to pass on that negative to rate to Swedish consumers, the longer it's held there the more financial pressure there is for banks to pass the costs onto their customers. That's a problem because Sweden is the closest country on the planet to becoming an all-electronic cashless society.

Remember, Sweden is the place where, if you use too much cash, banks call the police because they think you might be a terrorist or a criminal. Swedish banks have started removing cash ATM machines from rural areas, annoying old people and farmers. Credit Suisse says the rule of thumb in Scandinavia is: "If you have to pay in cash, something is wrong."

Here's a chart from Quartz demonstrating how serious the Swedes are about getting rid of cash:

(snip)

(Excerpt) Read more at businessinsider.com ...


TOPICS: News/Current Events
KEYWORDS: cash; interestrates; money; negativeinterest; negativerates; socialism; sweden; swedeneconomy; swedensocialism
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To: blam; Norm Lenhart; TADSLOS; Lazamataz; Gondring
Want a Lesson in Economics?

Play Fallout: New Vegas.

One Day Bottlecaps WILL be Money, backed by something truly priceless.

Water.


21 posted on 10/28/2015 7:13:34 AM PDT by KC_Lion (This Millennial is for Cruz!)
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To: blam

Lost all my cash in a boating accident...


22 posted on 10/28/2015 7:15:01 AM PDT by miliantnutcase
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To: blam

Boy that brings back memories.


23 posted on 10/28/2015 7:15:20 AM PDT by Kirkwood (Zombie Hunter)
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To: KC_Lion

Everytime I see a bottle cap IRL, I have this urge to grab and stash it.


24 posted on 10/28/2015 7:17:55 AM PDT by TADSLOS (A Ted Cruz Happy Warrior! GO TED!)
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To: Bucky14

It’s against the law to launder money. Just sayin’.


25 posted on 10/28/2015 7:24:34 AM PDT by biggerten (Love you, Mom.)
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To: AlaskaErik

“Manipulism”

*******************
Now that really hits the nail on the head. That’s exactly what is going on. Of the government, by the government and for the government.


26 posted on 10/28/2015 7:26:22 AM PDT by Starboard
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To: mosaicwolf

it s coming here if people don’ t wake up. The govt can start issuing more taxes if it’s electronic and they can track you better. I work in business intelligence and the banks know every move about you..restaurants, etc..they are already judging loans and scores based on the kind of places you go, your Facebook friends....you have a friend that went bankrupt on Facebook? Bam it can hurt your score..it’s getting sicker by the day

Facebook is a real enemy.....lol sorry I got on a rant


27 posted on 10/28/2015 7:28:06 AM PDT by ground_fog
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To: blam

It’s the eternal totalitarian dream: a feudal society where the “elites” have total, absolute control over you and all your assets. A neverending cycle that plays out over and over again through time.


28 posted on 10/28/2015 7:28:40 AM PDT by jpl (Obama lied when Stevens died.)
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To: blam

All roads eventually lead to a kleptocracy. Some faster than others.


29 posted on 10/28/2015 7:29:38 AM PDT by SpaceBar
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To: blam

When dealing with the local tradesmen, I have started to ask if they will take gold or silver. Many will, but are willing to give a bit of a discount for cash.

A business associate built a house in a rural area and paid many of his subs in cash. He saved a bundle.


30 posted on 10/28/2015 7:29:53 AM PDT by theBuckwheat
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To: blam

Another link in the debit slave chain. Besides who are they going to pay for all those new ‘mooselimb’ immigrants?


31 posted on 10/28/2015 7:38:55 AM PDT by Kartographer ("We mutually pledge to each other our lives, our fortunes and our sacred honor.")
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To: blam

No more COLD CASH in Sweden. It’s all HOT NUKED


32 posted on 10/28/2015 7:39:24 AM PDT by SandRat (Duty - Honor - Country! What else needs said?)
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To: Autonomous User

33 posted on 10/28/2015 7:46:00 AM PDT by avenir (I'm pessimistic about man, but I'm optimistic about GOD!)
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To: blam
I remember looking off in the distance to a rolling cloud of dust (dirt roads) hoping the rolling store was coming.

I can almost see the Thomas Hart Benton print. Beautiful imagery.

34 posted on 10/28/2015 7:48:11 AM PDT by Stentor ("The best lack all conviction, while the worst are full of passionate intensity.")
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To: blam

90% silver dimes, 1/10 oz rounds etc. for the black market of the future.


35 posted on 10/28/2015 7:51:52 AM PDT by Stentor ("The best lack all conviction, while the worst are full of passionate intensity.")
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To: blam

PMs. Little paper. No debt.


36 posted on 10/28/2015 8:18:11 AM PDT by TangoLimaSierra (To win the country back, we need to be as mean as the libs say we are.)
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To: blam

I’ve moved all but a tiny portion of my money to Charles Schwab. I don’t think they will be affected by what banks do. Am I right, or wrong?


37 posted on 10/28/2015 8:20:54 AM PDT by Gen.Blather
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To: blam; Norm Lenhart; KC_Lion; TADSLOS

I want to see only one thing, any more:

The complete collapse of society.

It is the only way we can be free.

I am rapidly becoming a full-on Anarchist.


38 posted on 10/28/2015 8:21:50 AM PDT by Lazamataz (Ok. We won't call them 'Anchor Babies'. From now on, we shall call them 'Fetal Grappling Hooks'.)
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To: Lazamataz
I am rapidly becoming a full-on Anarchist.

Are you living in your mom's basement? You can't claim full on status until you do...and you need to have a Guy Faulkes mask.

39 posted on 10/28/2015 8:24:45 AM PDT by TADSLOS (A Ted Cruz Happy Warrior! GO TED!)
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To: avenir

My how the world turns. One day, cock of the walk. Next, a feather duster.


40 posted on 10/28/2015 8:32:15 AM PDT by Autonomous User (During times of universal deceit, telling the truth becomes a revolutionary act.)
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