refusing to accept cash

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December 4th, 2015 at 8:53:55 PM permalink
Fleastiff
Member since: Oct 27, 2012
Threads: 50
Posts: 5119
Strange.
North Korea counterfeits a great many currencies.
Scandinavian countries have the best printing presses and bank note companies but are tending to do away with cash transactions.
December 4th, 2015 at 10:18:47 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 753
Posts: 8873
From 1873 and until World War I all three Scandinavian countries (and Iceland which was not independent) used the krona/krone which was set at 2480 krona to one kilogram of pure gold.

On 14 September 2003, a consultative Swedish referendum was held on the euro, 56% of voters were opposed to the adoption of the currency, out of an overall turnout of 82.6%. As of 2014, support for Swedish membership of the euro among the general population is low. In September 2013, support fell as low as 9%. The only party in the Riksdag that supports Swedish entry in the euro (as of 2015) is the centrist Liberal Party.

But one way to do the switch is to eliminate the physical embodiment of currency. Then at some point you can argue that why should you let the exchange rate be determined by currency speculators, and why denominate in some strange value that is 9x tp 9.5x the euro.
June 5th, 2016 at 8:31:55 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 753
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https://www.theguardian.com/business/2016/jun/04/sweden-cashless-society-cards-phone-apps-leading-europe

Another article on Sweden leading the way to massive reductions in the use of Cash. I think, in practice, Sweden will pretty much be a cashless society within about five years, said Niklas Arvidsson, an associate professor specialising in payment systems innovation at Stockholms Royal Institute of Technology (KTH).

Street salesmen, from hotdog vendors to homeless magazine sellers, have enthusiastically adopted iZettle, a cheap and easy Swedish system designed to allow sole traders and small businesses take card payments via an app and mini card-reader plugged into their phones, with many reporting sales increases of up to 30%.One Stockholm church said last year only 15% of its donations were in cash; the remainder were all by phone.

Cash in circulation drops every month, even as the banknotes are introduced. In fact, the Riksbank is using the new notes and coins as a means to reduce cash, not to increase it.
June 5th, 2016 at 9:54:35 PM permalink
Fleastiff
Member since: Oct 27, 2012
Threads: 50
Posts: 5119
Switzerland rejected the universal basic income, but Finland and the Netherlands are considering it and Oakland, CA already has a 2000 family pilot project underway.

why do the cashless societies consider universal basic income?
June 5th, 2016 at 10:34:37 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 753
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Quote: Fleastiff
why do the cashless societies consider universal basic income?


There are no cashless societies yet. Sweden is as close as it comes. Right now they are circulating a little over $700 per person in all denominations, but the primary one is a banknote worth about 500kr~$61. USA is circulating a little less than $700 in all denominations of $20 or less. Now I presume that a good percentage of the 500kr banknotes are home in safes or lockboxes, where they function as a "store of value".

Since the Riksbank has reduced the 500kr banknotes in circulation by 27% in only 17 months, I must presume that they are going to keep destroying this denomination note, and replace the notes in the ATM with 200kr banknotes.

The other Nordic countries have replaced the 20kr banknote with a coin, and are considering replacing the 50kr banknote. So under the most extreme circumstances Sweden could just issue coins and the 100kr and 200kr banknotes.
June 6th, 2016 at 2:39:22 AM permalink
AZDuffman
Member since: Oct 24, 2012
Threads: 103
Posts: 7126
Quote: Fleastiff
Switzerland rejected the universal basic income, but Finland and the Netherlands are considering it and Oakland, CA already has a 2000 family pilot project underway.

why do the cashless societies consider universal basic income?


Universal Basic Income is just the latest socialist idea. Thought process is that welfare ends up a patchwork so instead of a bunch of programs with varying requirements just one handout for all.
The man who damns money has obtained it dishonorably; the man who respects it has earned it
June 6th, 2016 at 6:05:05 AM permalink
Fleastiff
Member since: Oct 27, 2012
Threads: 50
Posts: 5119
Quote: AZDuffman
so instead of a bunch of programs with varying requirements just one handout for all.
And fewer government paid social workers.
June 6th, 2016 at 6:30:59 AM permalink
ams288
Member since: Apr 21, 2016
Threads: 13
Posts: 2470
The only thing I use cash for is gambling.

I literally haven't used cash to purchase anything in years. Why would you? Credit cards are more convenient, and you can get cash back, miles, etc. for every dollar you spend... Cash is just a pain in the butt.

Now that Uber/Lyft are in Vegas, no more cabs for me. Why? The fact that I don't have to pay them in cash is a big factor (along with the convenience and the fact that they are cheaper than cabs).
In order to insult me, I must first value your opinion
June 11th, 2016 at 6:28:41 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 753
Posts: 8873
Quote: ams288
I literally haven't used cash to purchase anything in years. Why would you? Credit cards are more convenient, and you can get cash back, miles, etc. for every dollar you spend... Cash is just a pain in the butt.


So if the USA government began a severe limitation of the amount of cash in circulation (like Sweden), you would be OK with that as long as you had chips for gambling.


SMALL DENOMINATIONS (changemakers)
USA $136.96 per person for $1, $5, and $10 banknotes
Sweden $131.05 per person for 1kr coin, 20kr, 50 kr, 100 kr banknotes

USA - Cash per Person circulating in different denominations
$1 : $35.40
$2 : $7.14
$5 : $42.55
$10 : $59.01

Sweden - Cash per Person circulating in different denominations (not counting coins or banknotes not legal tender)
10 kr ~ $1.23 : 26 coins per person
20 kr ~ $2.46 : $10.38
50 kr ~ $6.14 : $9.91
100 kr ~ $12.28 : $78.78

MAINSTAYS OF CASH DOMESTIC
USA $779.82 per person for $20 and $50 banknotes
Sweden $610.63 per person in 200kr, 500kr, 1000 kr banknotes

USA - Cash per Person circulating in different denominations
$20 : $531.99
$50 : $247.83

Sweden - Cash per Person circulating in different denominations (not counting banknotes which are not legal tender)
200 kr ~ $24.56 : $48.96 NEW DENOMINATION INTRODUCED 1 OCTOBER 2015
500 kr ~ $61.39 : $535.09
1000 kr ~ $122.78 : $26.58 (roughly one banknote for every five persons )


It's All About the Benjamins
$100 : $3360.87 per person, much of which circulates overseas


The Swedish government introduced the 200kr banknote as a more suitable denomination for ATMs (as in USA and Canada). Although they don't have a stated goal, I think they are trying to reduce the MAINSTAY OF CASH to less than $400 per person by next year.


Nordic Casino
June 11th, 2016 at 11:47:22 PM permalink
Evenbob
Member since: Oct 24, 2012
Threads: 111
Posts: 12163
I returned a monitor to Walmart I had bought
on a debit card. They gave me back $150 in
cash. I was astonished. They opened the box
to make sure it was all there.

Next to me a black guy about 35 was returning
a 70" TV he claimed had none of the hardware
in the box when he got it. No cords, no manual,
no mounting bracket. The woman explained
that it was not possible, the factory ships them
with everything. She ended up giving him a
refund because he wouldn't shut up.

I learned later this is a common scam. There
are no fences for thefts anymore, whole
neighborhoods are the fence for stolen
property. A guy steals a 70" TV from a
home, sells it to a neighbor for $200. He
goes to Walmart and buys the same TV
new in the box.
He strips it of what he needs for the stolen
TV, and returns it to Walmart. Easy peasy.
If you take a risk, you may lose. If you never take a risk, you will always lose.
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