The World – Squirrel Away Cash In Case Of Emergencies

‘Stockpile coins and banknotes’: Sweden tells its citizens to squirrel away hard cash under their beds in case of a cyber attack

Cashless payments are all the rage but people in Sweden have been told to squirrel away notes and coins in case of a cyber attack on the nation’s banks.

Digital payments offer convenience for both buyers and sellers alike and the Scandinavian nation has been an eager adopter of the technology.

Now, government experts are concerned that people could be left without any money should its computer networks become victim to an attack.

Sweden’s Civil Contingencies Agency has issued guidance to every household telling residents to stockpile ‘cash in small denominations’ for use in emergencies.

The warning will ring alarm bells around the world as developed nations increasingly make the move to a cashless society.

Emergencies envisioned by the Swedish government range from power cuts and other accident interruptions to computer networks, through to terrorism and cyber-warfare.

The government recommends that each citizen keep cash under their bed, according to a report in the Times.

Natalie Ceeney, who chairs an independent review into access to cash, told a conference last week: ‘If we don’t take action now in this country, we’re only a couple of years away from Sweden.

‘Sweden’s big message to us is, “Plan now before you get into a mess.” Sweden hit its crisis when its equivalent of the NHS declared it was going cashless.’

Sweden became the first European country to issue modern banknotes, in 1661 – ahead of the Bank of England, which followed in 1694.

Government figures suggest that 15 per cent of the nation’s citizen would find life difficult if they could not access and spend their money immediately.

Riksbank, the country’s central bank, last week called for an inquiry into the risks posed by a future cashless society.

It suggested that Swedish politicians should create the world’s first state backed form of digital money.

Officials told parliament that hard cash was important ‘not just in times of crisis and war, but also in peacetime’.

Stefan Ingves, head of Riksbank, last year warned that a cashless society of the future put too much power into the hands of the company’s responsible for processing payments.  – Daily Mail Online

article website here

I’ve seen this happen. Debit machine down. Restaurant can’t process cards.  Only people with cash, me and a couple of others, got served.

With Mastercard now considering banning cutting off payments to “far right groups”, is anyone certain that sometime in the future, they will not be ever be cut off from using plastic to pay for things?   If you believe that it will never happen to you or your family, you are mistaken.

A cashless society is completely under the control of the people who own the payment system.  Corporation or government. Two sides of the same coin.

I suggest that you always carry some cash.

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4 Responses

  1. goldnsilver
    goldnsilver at | | Reply

    Cash is king……for now. Unfortunately the sheeple are being trained to use plastic for everything. No need to carry cash. It’s dangerous. You could be robbed. You could put your customers in danger accepting cash. It’s too expensive to produce. Criminal organizations use cash yada yada yada. When most of the boomers are gone that’s when the BIG push to be a cashless society will happen. Cash will no longer be accepted anywhere, for anything. Banks will no longer accept it. I believe even now that cash is being accepted as a courtesy. Soon the sheeple will be forced to swipe and if it’s too inconvenient to carry a plastic card we can just implant your info for easy super convenient scanning.

  2. Jake Gittes
    Jake Gittes at | | Reply

    1. You can (or used to be able) find Harry Browne’s writings in the TBPL. Most famously – “How You Can Profit from the Coming Devaluation”.
    He was one of the original “gold bugs” – which historically is THE only currency.

    2. VISA, Mastercard, etc. are private organizations, and can decide who they do, and do not want to do business with. If the cost of doing business with one group is too high (boycotts by even larger groups) they will act accordingly, if not they will not change. I find it interesting in the USA the same groups that want a cake baker to not do business with a same sex couple, and not have the government to intervene by make refusal illegal, want the government to intervene and force another business to do business with a group the same protesters support (say, the NRA). You cannot have it both ways.

    3. Cash is issued by the same governments, that many fear will be behind an “shutdown” of the electronic payments systems. (The only reason paper currency has “value” is via government support, and the theoretical backing of guns, taxation, productive economy, supports through benefits, etc.). They can re – issue new notes, and make the cash you have in your mattress illegal. In fact, in some countries, actually holding “hard currency” can result in prison, or death.

    I used to be a strong gold-bug (you would be surprised how much gold in bullion form is actually held in TB banks)…. but realized in any overall societal break – down, the likelihood of whatever you could hold out with (paper cash, has no intrinsic value) even gold – will only delay any inevitability by a little.

    Think of it – if you are the only person on your block (or perhaps 50KM out of town at the end of a dirt road) who has a hoard of gold, how long do you think you cold possibly hold out against the rest of the village?

  3. Jake Gittes
    Jake Gittes at | | Reply

    The advancement of humans is directly linked to grouping together to both specialize tasks, as well as protection from the elements and outside forces. The resulting “groups” are called society.

    If society breaks down and becomes a ‘Mad Max” scramble for the scraps on the bones of what this current society produced, there will not be enough lead (guns) or gold (currency) to last long enough for the remaining cans of food to fight over. Eventually, the shelves will be empty, there will be no more bullets for the guns, etc.

    Short answer – survivalist living is a waiting for something to come along and “save” those who would practice it (it is in fact inherent in the meaning of the word)….but most often those who are planning for it, would turn inward, and not be capable or open to approaches by outsiders….after all, its’ “every-man for themselves.”

    We have gone too far down the road of living the way we are to “survive” (if all mod cons were to vanish, or turn off)…and if you think that a society that can’t even cook anymore, is going to start growing its’ own food, spinning it’s own cloth, etc., I have some bridges to sell you…

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