Swedes turn against cashlessness

Post by Symbiote » Tue, Apr 03, 2018, 9:18 PM UTC

jamesblonde wrote: post #231

Symbiote wrote: post #230

Earlier quoted context omitted.

1. Can your cash do this? [1] A breakdown of spending by my internet bank, by category. 4. In Sweden, and some other European countries (and China?) a lemonade stand works by person-to-person bank transfers, initiated using a mobile phone app. The Swedish one is called Swish, but I link to the Danish one [2] as they have an English explanation. People really do use these apps for things like lemonade stands. I've see…

We have a verb in swedish for this: "I'll swish you 50 crowns" "Can you swish me 200?"

Post by AnssiH » Tue, Apr 03, 2018, 9:20 PM UTC

imartin2k wrote: post #179

mrmekon wrote: post #162

Earlier quoted context omitted.

The second sentence corrects the sensational headline: "the small but growing number of Swedes anxious about their country’s rush to embrace a cash-free society." It must be very small. The only person I've ever heard complain about it is... myself. Not for the reasons this article gives, though. I'm more upset about Visa and Mastercard skimming 1% of profit off of the entire country's retail commerce. Maybe if they…

I see your point, but I have a slight correction: The EU has regulated the interchange fee, which is since then capped at "0.2% of the transaction value for Visa and Mastercard consumer debit cards" and "0.3% of the transaction value for Visa and Mastercard consumer credit cards." ( https://www.adyen.com/blog/all-you-need-to-know-about-the-eu... ) However, I am not a payment expert, so there might be an additional fe…

Post by B1FF_PSUVM » Tue, Apr 03, 2018, 9:23 PM UTC

powvans wrote: post #242

dalbasal wrote: post #173

Good. The cashless drive gives me the creeps. 1 - First, I like cash. It's tactile and gives me a feel for my spending. 2 - Cards are an duopoly, layered onto an oligopoly. Cashless gives this system a 2% tax on all spending (+ fraud, which retailers pay for). 3 - Government control is creepy too. Liberty reasons, privacy reasons, single-point-of failure reasons. Just simple competency reasons. 4 - It advantages big…

The bitcoin failure (I think it is) teaches something. People don't really give each other money. It's kind of illegal. Money is supposed to move between people and companies or companies and companies, not between people. There is no demand for Peter-pays-Paul. That last bit, that's a profound observation. There is some real demand, but not much. More so there is theoretical demand. In theory I want the option to pa…

Post by freedomben » Tue, Apr 03, 2018, 9:31 PM UTC

stale2002 wrote: post #111

freedomben wrote: post #44

Earlier quoted context omitted.

I disagree. There's certainly short term benefit to this Keynesian view, but long term it leads to wild volatility, partly because people are only one pay check away from ruin. When only the wealthy have a store of money to draw on in harder times (job or income source loss, broken appliances/vehicles/etc), it further harms the poor. It's a regressive policy because it disproportionately harms the poor. It forces peo…

It isn't even the Keynsian model! People misinterprete it to this basterdized version a lot though. The real Keynsian model is that we should spend more in bad times and LESS in good times to even out business cycles. People always forget that second part... It was NEVER about spending for the sake of spending or wasting money on things that we don't need to help the "economy". People misinterpret it to the point whe…

Post by callesgg » Tue, Apr 03, 2018, 9:34 PM UTC

hsson wrote: post #138

callesgg wrote: post #62

What a click-bait title, swedes as a people has said nothing like this. As a swede i see no indication of it at all. It i more like the exact opposite, most people seam to hate cash and take every opportunity to move away from it.

This is my experience in Sweden as well. The only people I've heard complaining about the move away from cash are older generations (65+) — everyone else loves it. The e-krona initiative could solve the problem of allowing a cashless system while still giving control to the Riksbank [1]. [1] https://www.riksbank.se/en-gb/financial-stability/the-financ...