Sweden is going cashless.
http://finance.yahoo.com/news/sweden-goes-goes-world-beginning-151437956.html
If I was a central bank I would really be pushing for this. If you combine a cashless society with internet tracking (thanks to google) it makes it pretty easy for governments (and others) to manage the economy. They can learn your likes and dislikes, your "good" habits versus your "bad" habits and ultimately it makes fiat currency turn into electronic credit and debit ration cards.
It makes things so much easier. Whoever is running things can authorize your card for purchases that are only determined to be for the greater good, and then de-authorize your card for things that are determined to be bad. If you are overweight they just cut back your calories. If you want to give money to a charity that's fine as long as it's a good one. No worries about bank runs, inflation, hoarding, etc. because it's all controlled electronically.
I see this working perfectly and solving all the problems that worry economists about fiat currencies. What could possibly go wrong?
http://finance.yahoo.com/news/sweden-goes-goes-world-beginning-151437956.html
If I was a central bank I would really be pushing for this. If you combine a cashless society with internet tracking (thanks to google) it makes it pretty easy for governments (and others) to manage the economy. They can learn your likes and dislikes, your "good" habits versus your "bad" habits and ultimately it makes fiat currency turn into electronic credit and debit ration cards.
It makes things so much easier. Whoever is running things can authorize your card for purchases that are only determined to be for the greater good, and then de-authorize your card for things that are determined to be bad. If you are overweight they just cut back your calories. If you want to give money to a charity that's fine as long as it's a good one. No worries about bank runs, inflation, hoarding, etc. because it's all controlled electronically.
I see this working perfectly and solving all the problems that worry economists about fiat currencies. What could possibly go wrong?
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