Posted on 01/24/2016 2:55:00 PM PST by EBH
The largest bank in Norway has called for the country to stop using cash, the Local reported Friday. This comes as the latest move in a country that has been leading the global charge toward electronic money in recent years, with several banks already not offering cash in their branch offices and some industries seeking to cut back on paper currency.
DNB, the bank with the proposal, has said eliminating the use of cash would cut down on black market sales and crimes such as money laundering.
"Today, there is approximately 50 billion kroner in circulation and [the country's central bank] Norges Bank can only account for 40 percent of its use. That means that 60 percent of money usage is outside of any control. We believe that is due to under-the-table money and laundering," Trond Bentestuen, a DNB executive, told Norwegian website VG, the Local reported.
"There are so many dangers and disadvantages associated with cash, we have concluded that it should be phased out," he added.
(Excerpt) Read more at ibtimes.com ...
Maybe they can replace the Kroner with the Quisling.
Just in time to turn over the country to Muslims, nice.
Anyone else have a BAD FEELING about this..?
A Bank, who would make money off of every monetary transaction in a cashless society, wants to end cash. What could go wrong?
Apparently their second largest bank doesn’t even have cash in the branches anymore. Seems weird to me.
The banks are frustrated by the lower limit on interest rates.. Zero.
The way to get around it is to eliminate cash, which will allow them to have ‘negative rates’, which is to charge you for keeping money at their bank.
I hope Norwegians are not so foolish as to fall for that.
Well, who knows, they were stupid enough to fall for the story of the benefits of Muslim immigration.
It’s a great way to force people to buy-in because our betters refused to keep the economies financially stable.
All ending cash would really do is increase the barter side of the economic ledger.
The globalists have an effective strategy of just introducing a policy here in one country, and an idea here in another, all the while the news media always makes things seem like nothing organized is going on beyond the national level.
Apparently their second largest bank doesn’t even have cash in the branches anymore.
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In the early 70s, I took my vacation check to my bank to cash it. The check was for around $3,000, they said they didn’t have enough cash to cash and I “should come back tomorrow”.
Oh, by the way, they offered to give me a cashier’s check for it.
I was stunned. This was tha main bank, not a branch.
No cash. We can steal your money with a mere computer hack!
That comes out to $1125 per Norwegian.
Compare that to about $4300 per American.
Yeah, see, that word "control" may be a bit of an issue here.
There is no way to opt out of the system.
Europe just started their new ‘bail-in’ system, much like what happened in Cyprus a few years ago. They give the accounts above a certain level a ...haircut... to bail out the banks.
95% of all transactions in Sweden are cashless. Stores don’t even have cash on hand already.
I cannot even imagine the tyranny....opt out and survive how? Barter, under the table, how? Sooner or later they are going to come looking for you and your livelihood.
Income tax, transaction tax....no ATMs, no cash anywhere.
Sounds like slavery to a system or government...
No cash also means all transactions are accounted for and potentially TAXED.
More government tracking and control. This is a huge mistake.
$4300 per American and increasing. Look at a chart of the amount of currency in circulation since 2008.
You are correct, it’s tyrannical.
It is slavery. Fortunately the trend in the US in the short to medium term has been toward cash.
Cash is harder to track and tax.
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