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The Swedish banking system

Part three of the book The cashless conspiracy by Cash Only.

The Riksbank is working all the time, despite his alleged "neutrality" of the reduced use of cash. Riksbank publishes annually a report called "The Swedish Financial Market". It includes statistics on payments. There you can read statistical details such as how many ATMs and credit card terminals there are in Sweden. 


Av CashOnly
onsdag 9 oktober 2019 16:08
Följetong/Bok

The private banks are dominated by the big four. Nordea, Swedbank, SEB and Handelsbanken. Banks have separate digital money that is used only within the bank itself. Banks are also to some extent from each other and holding each other securities which may constitute a dangerous domino effect financial crises. It has become common for other actors such as insurance companies and large retail chains acquired the status of a bank. Internationally, Sweden is connected to banking regulations called Basel III. This standard requires the banks' financial stability. Outside this core system there are two "layers" called Tier I and Tier II, which largely consists of liabilities. This is quite cryptic, but it's good to know the terms for those who might later want to immerse themselves more in the banking system.

The Riksbank and the General Council has always had close ties to the parliament. The Riksbank also has an Executive Board. In the 1600s, Sweden had a private bank. Riksbank encountered by the bank after the bankruptcy was purchased by the state. Riksbank took shape during the wasteful regency before Karl XIs reign. In our time, the banks responsible for the exploitation and the Riksbank is acting guardian of the entire Swedish population by preventing as much as possible from using cash.

The Riksbank was then a monopoly on issuing banknotes. In the early 90s began to fiscal policy to focus on inflation rather than the exchange rate. The money Riksbank manages rinns only at the Riksbank. The Riksbank's main tool to control interest rates is to change the repo rate so that the other banks will hopefully follow. The financial situation can be so strange that the repo rate is negative. When this happens and banks following may like in neighboring Denmark arise an increased demand for cash.

The Riksbank is working all the time, despite his alleged "neutrality" of the reduced use of cash. Riksbank publishes annually a report called "The Swedish Financial Market". It includes statistics on payments. There you can read statistical details such as how many ATMs and credit card terminals there are in Sweden. The Bank has also published another report on payments called "The Swedish retail payments market."

A large part of the Swedish banking system consists of RIX. The Riksbank's RIX sys-tem will cause large payments can be made between all major banks. Most types of payments go through RIX whether it is cash, card, credit, securities or currencies. A little cryptic usually be said that RIX "settles payments by debts and receivables conclusively regulated". It may be-written bit contradictory to RIX deal with digital cash. An important type of payments, pensions are deposited in the Debt account at the Riksbank through RIX.

A handful of Swedish banks and some foreign have accounts in RIX - system. Among the foreign noticeable Citibank and Morgan Chase. Some banks JAK Bank and Ecobank is not connected to RIX. Banks that do not have RIX account can still use the system by proxy.

Lord of the Princess Mint, Dragon Credit Card and the Black Knights

There was once a princess named Mint. She sat on what looked to be a huge treasure of cash in the form of coins and banknotes. But appearances are deceiving. Of the big pile, it was only the surface in the form of a few percent consisted of cash. During the shiny surface conned millions of credit cards. In the middle of the pile, it was just a huge void created by the evil magic. The void called digital money received tax pile look much larger than it actually was. Around the edge of the pile flocked small nasty goblins called bankers. As soon as someone tried to snatch a coin so they hissed and showed his sharp pointed teeth. It was only the bravest who ventured to snatch the money.

The evil dragon and his credit card cashless black knight wanted to take away all the cash and kill the princess. Such kites and false tax mounds existed in many countries. Once upon a time, the tax mounds almost exclusively consisted of cash. But after evil wizards from the big faraway country SamUSAmien created short dragons, credit cards and the gap with the help of black magic became what it became. Wizards wandering around among all the countries, destroying tax stacks by filling them with credit cards and void. Three of the worst wizards were brothers Mastro, Expresso and Dinero.

Let us introduce some of the evil knights as they sit around the table-shaped cards and plans to kill the princess Mint and remove the cash altogether from the pile. One of the knights named Riksbank. His task is to ensure that the cash keeps on about the same amount even though the stack grows and grows.

He is quite well known in the country Finansien. We do not know whether to tell you anything more about him.

Another knight named FSA. As soon as someone so much as whispers the word robberies somewhere in the oblong country Finansien he gets out there, for several days, he yells out the same message in the streets until he is completely hoarse voice.

キ 0 "We must remove the cash denominations gradually!"

Another knight's Finance Association.

キ 1 "Robbery !, robbery!" Yells this knight.

It occurs whenever someone steals a single small cash money somewhere in Finansien.

キ 2 "If we remove cash allowance, there is nothing to steal!", He exclaims confidently.

(Financial Supervisory Authority is an agency under the Ministry of Finance. It was created in 1991 from the merger of two other agencies. Its main task is to monitor securities trading and financial companies. The FSA has also tasked to "strengthen the position of consumers on the financial market." Everything cashless decided completely over our heads .)

Another couple of knights alike propsar on the cashless society Wholesale Development and the Swedish Trade. The former is a research foundation and the latter a business organization. Now the Knights decided what would happen in this topsy-turvy tale. They simply walked together and thrust their swords in the heart of the poor princess Mint although she cried and pleaded for his life. Since they did groveling and crawling dragon Credit card king over the whole country. The dragon burned up all the bills with his fiery

breath. The Knights picked off all the coins from the pile and dumped the princess and those in a lake.

They knew very well that the dragon without problems could devour the princess's dead body in a single bite. But what if she had accidentally accidentally swallow a coin or two at some point, maybe she had sewn a few coins in the clothes as security. The dragon was in fact very allergic to coins. That was why the Knights decided to dump the princess in the lake instead of giving her food to the dragon. The dragon is now lurking on his his huge pile of credit cards. If anyone adversely affecting him pawing he simply the victim with a large high credit card so that he choked on the amount and weight. End of story.

By speaking out regarding the removal of cash and resist the cashless in Sverge we can if not in the long run prevent then at least delay the tale becomes reality.

If the worst does happen, we believe that even the nasty tale gets a continuation in which everything ends well.

What if the cash denominations disappears gradually?

About a thousand patches are removed it may not be much of a difference except for those who, for example, buy a more expensive car in cash. But if both the 500 and 200 -kronors -sedlarna removal begins the real problems. Clothing and food still works fairly well, but only in terms of the actual purchase. But if someone buys a scooter for 25000 with a hundred pieces should salesman counting 250 banknotes. Would 200 - kronor banknotes happen to be there, he is still not so much happier to count to 125. He loses concentration when the customer happens to talk to him while he counts. After some time, he may refuse to accept large amounts of cash. Cash available in various denominations because it is the most practical way.

The authorities are taking every opportunity to blame the robberies to remove the cash instead of solving problems in a constructive way. The public listens not to. One study found, for example, that only 12 percent who think a thousand pieces is unnecessary. A few years ago it was a much-publicized robberies in Jonkoping. It was only a few days after this, proposed the FSA to a thousand patches would be removed. In time did you then also remove the patches five hundred and one hundred tags.

One can draw a parallel between cash and vehicles. It would be as if to get away vehicle theft would prohibit trucks and cars. Only bicycles and mopeds would be allowed to remain which would then correspond to the small cash denominations. Ideally, you want it to mopeds and bicycles to disappear too. Should we perhaps put down any pharmacy because it happens to steal some medications and use of drugs? To constantly blame the robberies in order to remove the cash is actually bordered to the pure childish.

When the 100-krona and less money is left, it is in principle run for cash at all. Then try at an outlet of the bank (if you can still withdraw money there) asking for 3,000 kronor in 50 - or 20 pieces. Do you think the bank staff to manage very thick wads of cash as a machine counting up or at worst figure 150 notes on manual counting should happen to remain on a bank? Hardly 75 fifty pieces either. ATMs based on the withdrawal of the denominations of banknotes. If one could theoretically be allowed to charge 50 and 20 overlap would be thick wads of cash in the machines. The total value of the money in the loaded machine would decrease and the volume of money would be much larger and less manageable for cash transports.

It has in some quarters been proposals to have only coins up to 50 kroner value without notes. This would limit beyond the pain threshold for the cash to be reached by a wide margin. What would happen to withdrawals at the bank and vending machine? Quite unlikely that it will be able to take out the coins in the cash machine then. Coin rolls or maybe ATM coins rattling like an old slot machine or what? Hardly. The problem is that you do not think about it at this kind of suggestion or rather that you only have cash the removal of the eye.

It meant well that you should withdraw money in the deal instead with the accompanying problems. The shops may then of course also a significantly larger physical volume of money but with a smaller total value. Cash transport will be considerably more expensive and more difficult to manage. Even now, the withdrawal of cash in business a loss for the retailer. It is far from all that know. Personally I think that the coins are better and more practical than banknotes. But then there will be coins of all denominations. Even the highest.

It is easily understood that in this situation, therefore, is also out with ATMs. Moreover, the fact also uttagsutomaterna something very negative because they require a credit card to use, and slaughtering activities in the bank. Business is also likely to be less and less likely to want to use cash. Some banks only give out 500-kronor over the counter through a closed safe security system. It is naive to believe that these banks would go back to smaller notes again.

Of course it would even be possible to deal with only 20 notes and coins by buying some food at a time and buy cheap or used clothing. But the insurmountable problem arises how to get hold of hundreds of small bills each month. Do not think that banks would provide these. An extreme emergency solution I thought about is to "buy" coin rolls to buy cheap

variants of the essential. Coins are the in large quantities such as fairgrounds. How do arcades and traders to get the coins? How it works I do not know but it would be interesting to investigate further on.

It is enough to take away the two largest denominations of cash, it's probably exhausted to collect the money in the remaining cash handling banks and probably also in the machines. For those who want to keep the cash comes it then to do as much resistance as possible to the denomination removal now. Once it is done it is almost entirely driven for cash.

What is the difference between credit cards and other modernities in history?

The difference is that state powers, financial companies and shops gradually forcing the development of a totally cashless society without options. It is never about that in the long run as the society should have a right to a choice between credit cards (and other non-cash items) or cash. The election is still to some extent remains is simply because a certain resistance to development. Cars have been faster, sleeker, safer, more convenient and cheaper through the years. Over time, because people automatically bought more cars. But in terms of credit cards, it's largely about a forced coaxing with acceptance and gradual coercion to get people to use them.

An example of natural history and technological development is the mankind of the benefit or curiosity moves away from the original limits. It can range from the Stone Age people who for födosöket seek new hunting grounds to space travel. Through the development of war and weapons is a natural, albeit highly negative one. But the development of kontantlösheten is no natural with. It is both unnatural

and negative. It is a perverse development mainly driven by greed and abuse of power. A fundamental error in the cashless argument is that kontantlöshet portrayed as a natural development. Anyone who thinks that kontantlöshet is a natural development that will flourish in perhaps hundreds of years do wrong. The systems can rather be likened to a mutated and atrophied animals as biology can or should survive in the long run.

You can choose to walk, cycle, ride the bus or go by car to work. Although the car has been available to the public in roughly one hundred years, there are still many who want to be without a car. The same goes for telephone, television, radio, the Internet, computers and so on. That one then do not refrain from the use of light bulbs and electric ovens because these are absolutely necessary and natural development. But even in this case, there is still the possibility to use candles and kerosene stoves as an alternative for those who want. It would be absurd and downright immoral to force everyone to drive. But in terms of credit cards is an escalating manipulation. Nothing indicates that kontantlöshet is a healthy and natural technological development.

To be continued...


Publicerades onsdag 9 oktober 2019 16:08:50 +0200 i kategorin och i ämnena:

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