Posted on 03/19/2012 2:47:16 PM PDT by Mad Dawgg
(AP) STOCKHOLM - Sweden was the first European country to introduce bank notes in 1661. Now it's come farther than most on the path toward getting rid of them.
"I can't see why we should be printing bank notes at all anymore," says Bjoern Ulvaeus, former member of 1970's pop group ABBA, and a vocal proponent for a world without cash.
The contours of such a society are starting to take shape in this high-tech nation, frustrating those who prefer coins and bills over digital money.
In most Swedish cities, public buses don't accept cash; tickets are prepaid or purchased with a cell phone text message. A small but growing number of businesses only take cards, and some bank offices — which make money on electronic transactions — have stopped handling cash altogether
(Excerpt) Read more at cbsnews.com ...
Beat me to it by this -> <- much!..............
I can’t wait to hack them for a million euros. Then I’ll marry some hot, tall blonde and live happily ever after.
Sorry bout that...
But this thing brings up some interesting questions.
How does one conduct a yard sale within a cashless society?
Barter............
I wonder if people will be required to carry a photo ID... and do they need an id to vote?
Not really, people could just purchase small physical commodities to use as a medium of exchange instead (which is how the concept of money began in the first place). No economy will ever go 100% digital precisely because not everyone will want every transaction to be recorded...
Well, I operate in an almost cashless mode right now - that is, I don’t have very much free cash - making me “state of the art”. Well, at least I have that going for me...
“I wonder if people will be required to carry a photo ID... and do they need an id to vote?”
Nah,....just the MARK OF THE BEAST.
Have you seen the iPhone app that allows you to take credit card transactions?
Would the tall, hot blonde still go with you when you’ve hacked the European banks for a whole $1.57 (after piigs) Euro?
bflr
I’ll be the richest man in Europe. :)
Yeah, but in their case it’ll be because they choose not to use it. In ours, it’ll be because we don’t have it.
I use cash as much as possible, love the anonymous aspect. I hate the spam and tracking that follows non-cash transactions - especially from Uncle Sam.
One problem with a cashless society - it's hard to stash a wad of money in a jar and hide it. What are you going to do, stuff a bank book in a jar (and the state confiscates the account in the meantime). I suppose I could purchase jewelry and stuff it in jars ("small pysical commodities").
No and I sure as hell don't want toe Gub'ment or anyone else monitoring each and everyone of my transactions.
Let's say I stock up on food and water. If there is a "crisis" the Gub'Ment could check transactions and see who bought more food than they need. Then they roll in a demand the extra stuff because it wouldn't be fair that someone stocked up. and took responsibility for his own family and let others go hungry
No thanks! You can Keep your i-Gadgets and your cashless society. I'll shrug and remain off line with such transactions.
“Have you seen the iPhone app that allows you to take credit card transactions?”
Bums panhandling on State St. in Santa Barbara will probably take your credit or debit cards soon.
Why not an iPhone transaction?
Call it a HiTek OPM society.
Brother could you spare me a few digital dollars? I’ll scan your card, or do an Android transfer.
I guess you will, when you put it that way. :)
Jewelry isn’t the best exchangeable commodity because the value of the items is too subjective. Gold and silver (or even copper/bronze) coins (or privately-struck metal rounds) fit the bill because they are a standard size, weight and metal content and both the buyer and seller can easily understand what they are getting.
I can see private mints issuing bars and medallions doing a roaring trade if a serious transition towards ‘all-digital’ money is made...
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