Did you hear about Sweden trying to outlaw money? Have the Swedes “lost their minds?” How would investment banking change, if Sweden outlawed money?
Sweden might be one of the nations, “leading the charge to ban all paper money.” Already, Japan and Sweden are experiencing negative interest rates. So, why is the Sweden cash free society, a real possibility and not merely a Utopian dream?
Do you use cowrie shells for financial transactions today? Do you even know what the price of gold per ounce is at the present moment? More and more regular citizens, use plastic credit cards for their regular every day monetary transactions. They have already replaced old forms of money. So why not replace paper money?
“Digital Money Technology”
The reality is that the technology for electronic money is already here. When people purchase merchandise from the World Wide Web, they are partaking in digital money. Sometimes, physical credit cards are not even needed.
The problem with digital money replacing physical cash is that “some people will never abandon cash.” Some simply don’t understand the technology or are not really comfortable with it. They continue to use coins and paper bills to buy and sell stuff.
How can the same digital money standards be established in all nations? Some think the “One World Government” is a necessity, to establish this foundation. But, with Brexit, the globalists have suffered a serious setback.
“Investment Banking Necessity”
Does investment banking change whether cigarettes, gold bars or digital currency is used? Not really. Investment banker Martin Lustgarten understands finances – it does not matter what form the money takes. Just as a good financial portfolio should be diversified, money forms might also be better, if they were varied.
Take something as simple as denominations, having a $1, $5 and $20 in your wallet, makes life flow more smoothly. Sweden has not joined the EU, so its experiment with a cash free society is somewhat isolated. Investment bankers, such as Martin Lustgarten can help you determine how Sweden’s cash free bias might affect investments in that country.