Yep. Stores could be forced to accept more payment methods than cash, but cash should never be abolished - simply because of these reasons.
Turns out, there are in fact downsides to abolishing cash.
[off topic?]
It’s actually always a good idea to have some cash on hand, no matter what.
Blackouts are a thing.
Blackouts are a thing.
Don’t most stores have electronic tills now?
Unless they have backup power they won’t be able to sell anything during a blackout.Last major blackout in my area was Superstorm Sandy. I didn’t see one shop or car service that stayed closed because they wouldn’t accept cash.
They are able to sell you stuff. They normally won’t do it, because it totally wrecks havoc with their stock tracking and taxes. But if there is a longer outtage, a supermarket can totally sell you stuff for cash.
@JensSpahnpasta @geissi
I’m actually using cash more & more (& will not put my bank account on my phone!!). Rather that than some far-foreign digital “financial service” with all its tracking tech.
My understanding is that Sweden is one of the worst when it comes to businesses no longer even accepting cash. Would probably need to do something about that for this advice to make any difference.
Applies to most other countries as well of course, you see cash being phased out more and more. Sweden just happens to be further along that path.
Very true. There’s a law coming this summer that will force companies to accept cash as a payment method. Uncertain if it’ll be voted through though.
Dutch government did too, might have sounded alarming until i read they think €70 per adult should be enough.
All Swedish adults should hold a week’s worth of cash at home so they can buy food, medicine and other essentials in case of a war or other crisis, Sweden’s central bank said.
In addition to the 1,000 kronor ($110) per adult […]
