Sweden closer to being the first cashless society with negative interest rates
1–10 of 24 posts
Re: Sweden closer to being the first cashless society with negative interest rates
#2Well, they can (hopefully) still buy foreign currency and Gold coins, such as Krugerrands.
Re: Sweden closer to being the first cashless society with negative interest rates
#3> Credit Suisse says the rule of thumb in Scandinavia is: "If you have to pay in cash, something is wrong."
I hope people don't start talking like this in the US. Something about that statement is very disturbing.
Re: Sweden closer to being the first cashless society with negative interest rates
#4> Credit Suisse says the rule of thumb in Scandinavia is: "If you have to pay in cash, something is wrong." I hope people don't start talking like this in the US. Something about that statement is very disturbing.
How? You are not forced to pay electronically. You just have an option to cash.
The only time I use cash would be if I buy something from the swedish equivalent of craigslist, or in a farmers market. And even there it would be common to use Swish/Square.
Re: Sweden closer to being the first cashless society with negative interest rates
#5Bitcoin.
Re: Sweden closer to being the first cashless society with negative interest rates
#6So in a cashless society, what happens when you cancel your bank account?
Re: Sweden closer to being the first cashless society with negative interest rates
#7Extremely sensationalized headline. The only source for the microwave thing is hearsay from some policeman.
Re: Sweden closer to being the first cashless society with negative interest rates
#8> Credit Suisse says the rule of thumb in Scandinavia is: "If you have to pay in cash, something is wrong." I hope people don't start talking like this in the US. Something about that statement is very disturbing.
How? You are not forced to pay electronically. You just have an option to cash. The only time I use cash would be if I buy something from the swedish equivalent of craigslist, or in a farmers market. And even there it would be common to use Swish/Square.
I read that statement more as, "If you refuse to pay electronically" than "if you have no electronic means of payment."
I know it's contrary to the literal meaning, but it feels like the unstated assumption is that you would only pay in cash if you must, not out of a general preference for privacy.
Re: Sweden closer to being the first cashless society with negative interest rates
#9This makes more sense economically. Physical products in general degrade in value over time. Cash by itself does not degrade in value over time. Using cash to represent products is a sort of mismatch. If the products' value degrades so should the value of the instrument representing said product.
I don't know why they use negative savings interest rates when the government can provide the same service through QE or lowering loan interest rates.
Re: Sweden closer to being the first cashless society with negative interest rates
#10Extremely sensationalized headline. The only source for the microwave thing is hearsay from some policeman.
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