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ExtraTorrent.cc > Articles > Sweden May Kill off Banknotes

Sweden May Kill off Banknotes

Sweden May Kill off Banknotes

Added: Thursday, March 22nd, 2012
Category: Recent Headlines Involving File Sharing > Current Events
Tags:ET, p2p, Torrent, Piracy, Peer To Peer, Network, Hackers, Internet, BitTorrent, Google, utorrent, bitcomet, extratorrent, 2010, www.extrattorrent.com
Sweden, known as the first country to introduce bank notes back in the 17th century, is about to follow its pop star’s advice and replace the cash with cyber transactions.


According to the American press reports, Bjoern Ulvaeus, an ex-member of Abba, has been instrumental in lobbying the authorities to give up banknotes and move to electronic cash.

Indeed, in most Swedish cities, the public transport doesn’t accept cash. Instead, the tickets are prepaid or bought through a mobile phone text message. A number of businesses also accept only cards. Even some bank offices have refused to handle cash altogether – this is more convenient and they may be confident that they won’t have to get themselves robbed.

However, this electronic new world isn’t for everybody. Curt Persson, the chairman of the country’s National Pensioners’ Organization, claims that there’s a trouble for elderly people in rural areas that either don’t have credit cards or have no idea how to use them to withdraw money. This can lead to a crisis, as people won’t be able to buy food or flat pack furniture.

Still, the reports say that even the churches have started installing card readers instead of the traditional collection plates. According to the statistics, cash makes up only part of 3% of the national economy, while this figure is around 9% in Europe and 7% in the United States. The question was why Bjoern Ulvaeus was so interested in a cashless society, and the answer may be found in the movie “The Girl with the Dragon Tattoo”, which you might have already downloaded from us. The Sweden, as shown in the movie, is full of guns, violence, nazis, and open sandwiches. Ulvaeus confirmed in the interview that it was all an issue of security.

Ulvaeus’ son has already been robbed 3 times, so he wants Sweden to move to a digital economy in order to make life harder for thieves. The country’s Bankers’ Association admits that the shrinkage of the cash economy has led to the number of bank robberies reducing from 110 in 2008 to 16 last year. In addition, electronic transactions will make it difficult to hide cash, bribe people, or get engaged in shadow economy activities.

On the other hand, this has led to an increase in cybercrime, but Ulvaeus doesn’t seem to be too concerned over this issue.

March 22nd,2012

Posted by: 

Date:  Thursday, March 22nd, 2012

Comments (8) (please add your comment »)

posted by (2012-03-22 16:41:13)
No avatarsounds good on the outside like most new laws but is giving the real criminals ie the banks to much power

posted by Blocked (2012-03-22 17:01:26)
No avatarwell all the norwendian contrys are doing that already so no big news there only reason any talk about its thats its abba

posted by (2012-03-22 17:51:41)
No avatareventually credit card companies will charge more & more to use their credit cards, then the Vchip will become common currency... then the corporations will make us into numbers that can track on a screen, gotto love how some movies predicted such agendas!
governments lost their benefit to their peoples once they came off the gold standard!!

posted by Blocked (2012-03-23 00:08:38)
menahunie avatarThey think it is more secure to have only cyber money? Haven't they been paying attention to the news...
Banks do not want to handle money. It costs allot of money to handle money. This way it increases their profits allot at no expense to them and also then the banks and powers to be will have total control over you.
This will only bring back the under ground economy with a vengeance; barter will increase allot.
Say a contractor needs medical services for their kids; so they make a deal with a doctor to install a pool or expand their house i exchange...

Another point in the USA Federal Reserve and world banks would now have total control over a nations economy.

posted by (2012-03-23 01:46:03)
heibakari avatar@ unnoticedredhead

menahunie is right on the money! just gotta do a bit of critical thinking. I assure u they aren't doing this for the benefit of the consumer. lmao

posted by (2012-03-23 03:18:20)
No avatarunnoticedredhead, he knows of what he speaks.
few people are awake to the fact that governments are bought by corporations who have no interest in our well being, just profits from our existence.
wake up, smell the coffee, it's a robust colombian roast!!

posted by (2012-03-23 22:50:01)
breakdown avatarlols xD

posted by (2012-03-24 13:46:00)
edddy avatari hope they will ask the swedish peoples via referendum if they really want this, if they do, remember they (the government) will know every time you buy toilet paper, they exchanging convenience over privacy. good luck sweden.

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