Sweden Inches Closer To Cashless Society As Churches And Homeless Now Accept Plastic
by Tyler Durden
ZeroHedge.com
May 18, 2017
The citizens of Sweden are perhaps closer to completely giving up a component of their individual sovereignty than any other country on earth. In a world where government’s abuse of power and intrusion into the personal lives of its blissfully ignorant enablers grows more disturbing by the day, at least for now, cash offers the one opportunity to transact in a truly anonymous way.
That said, Swedes are ditching their physical currency at a breakneck pace with notes and coins in circulation dropping consistently for the past 6 years and down over 15% in 2016 alone.
According to the following chart from Bloomberg, notes and coins in public circulation dropped to an average of 56.8 billion kronor, just $6.4 billion, in the first quarter of this year, the lowest level since 1990 and more than 40% below its 2007 peak with the pace of the decline accelerating to its fastest ever in 2016.
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