|Source: Reserve Bank of Australia|
|Source: Bank for International Settlements|
Surprising, but for the first time in years, the number of Swedish krona banknotes in circulation is growing.— JP Koning (@jp_koning) November 6, 2018
Has Sweden's push to become a cashless society come to an end? pic.twitter.com/T6l1q40Ssu
"...the old banknotes and coins to become invalid after a relatively short period so that they could avoid having to manage double versions of the banknotes and coins for an extended period."
"The Riksbank was aware that the timetable would lead to complications for the general public in that there would be a number of different dates to keep track of. The need for information activities would be increased. However, the Riksbank considered that the interests of the cash market were more important..."
"There are those who think we have nothing to fear in a world where public means of payment have been replaced completely by private alternatives. They are wrong, in my opinion. In times of crisis, the general public has always sought refuge in risk-free assets, such as cash, that are guaranteed by the state. The idea of commercial agents shouldering the responsibility to satisfy public demand for safe payments at all times is unlikely."The Riksbank may even roll out an e-Krona, a digital currency designed to meet Swede's desire for "continued access to a means of payment that is risk-free and guaranteed by the state." Odd that Ingves is now so concerned about Swedish access to a risk-free payments medium when he was so willing to ignore the interests of Swedish cash owners just a few years before.