Returning to cash: Living without money in your pocket is not the utopia Sweden envisioned

Back in 2018, the former lieutenant governor of Sweden’s central bank made a prediction that by 2025, Sweden would likely become a cashless society.

Fast forward seven years later, and that prediction has largely come true. Cash transactions have significantly decreased, with cards being the most popular form of payment followed closely by Swish, a mobile payment system introduced in 2012. Other mobile phone payment services are also gaining popularity.

A recent report from the Central Bank indicates that Sweden and Norway have the lowest cash circulation as a percentage of GDP globally.

However, given the current geopolitical tensions and security concerns, the idea of a completely cashless society in Sweden may not be as appealing as it once seemed.

Authorities are now urging citizens to keep and use cash for civil defense purposes. The Ministry of Defense has distributed pamphlets to households, advising people to maintain a supply of cash in various denominations for emergency situations.

The Central Bank emphasized the importance of ensuring everyone can access money in times of crisis, shifting the focus from efficiency to safety and accessibility.

Recently, the government recommended that both public and private entities continue to accept cash, a suggestion that should be implemented by central banks.

As cash usage declines, central banks have been exploring their own digital currencies. However, the focus has now shifted to monitoring the global development of digital currency.

Norway, a neighboring Scandinavian country, has also been moving towards a cashless society, introducing mobile payment systems and imposing fines on retailers who do not accept cash. The government advises citizens to keep some cash on hand due to the vulnerability of digital payment solutions to cyberattacks.

Ultimately, in terms of emergency planning, having a balanced approach between digital and cash payments seems to be the way forward.

Miranda Bryant is the Guardian’s Scandinavian correspondent

Source: www.theguardian.com

“Dirty Money Prevails: Older Generation Crypto Investors Cash in on ‘Trump Pump'”

MIles, a 37-year-old NHS doctor from London, has been trying to convince friends to buy cryptocurrencies for years. In recent weeks, the “Trump pump” on crypto prices has made them envious. “They watched in frustration as my gamble paid off,” he says.

Despite cashing out around £600,000 to buy a house earlier this year, Miles’ crypto portfolio is now worth £2.3 million. Miles, who invested £4,000 in Bitcoin in 2012, said: ‘It’s defined my life. My pot fluctuates by hundreds of thousands every day and I’ve been through periods of volatility over the years.” he says.

A number of Miles told the Guardian why they became private investors in cryptocurrencies (regular people who buy digital blockchain currencies) and how their investments have paid off over time. I was one of ten people.


Investors see Donald Trump’s return to the White House as a harbinger of a crypto-friendly climate. Photo: Mark Humphrey/AP

Bitcoin’s price has fallen to $97,000 (76,500 sterling) and hit a new all-time high. The Financial Conduct Authority (FCA) has revealed that 12% of UK adults own cryptocurrencies.

The majority of respondents said they entered the crypto market within the past four years, with some using the extra funds they saved during the coronavirus lockdown to jumpstart their previous blockchain currency acquisition process. Some people also purchased coins via user-friendly apps and platforms.

The responses also reflect a growing trend of interest in professions such as education, banking, nursing, and IT investment. “Tech Brothers” are historically associated with the world of cryptocurrencies. argued that such investments were the best or only option for building meaningful personal wealth.

A large number of middle-class respondents lost faith in the existing system and turned to cryptocurrencies in the hope that it would help them achieve life goals such as having children, buying a home, and traveling. He said that he aimed at

Julian, a 57-year-old draftsman, homeowner, and father of four from Nottingham, was one of several respondents who said they bought Bitcoin in anticipation of a spike in inflation.

Source: www.theguardian.com

Tech Consultant on Trial for Cash App Founder’s Death Defends Himself as Trial Begins

Nima Momeni’s lawyer asserted in his opening statement that the technology consultant accused of stabbing Cash App founder Bob Lee had no motive to kill him and was actually defensive during a multi-day drug raid, claiming he needed to defend himself from Mr. Lee on Monday.

Prosecutors claim that Momeni, 40, orchestrated the April 4, 2023 attack following an altercation over his sister, Hazard, who was acquainted with Lee. Allegedly, Momeni retrieved a knife from a special kit in his sister’s apartment, pursued Lee to a secluded area, stabbed him three times, and fled.

“He was stabbed in the heart and left for dead,” Assistant District Attorney Omid Tarai stated. “The victim sustained multiple stab wounds, including one to the chest, one to the lower back, and crucially one to the heart.”

Lee’s untimely death at 43, after seeking aid on a vacant street in downtown San Francisco, deeply impacted the tech sector, with colleagues remembering the charismatic entrepreneur’s benevolence and skill. At the time of his demise, Lee held the position of chief product officer at the cryptocurrency platform MobileCoin and was a father of two.


Judge Alexandra Gordon informed the jury that the highly anticipated trial, commencing Monday at the San Francisco Superior Court, is anticipated to span two months. Momeni, a resident near Emeryville, California, has been detained since his apprehension shortly after Lee’s passing in a San Francisco medical facility.

Momeni has pleaded not guilty, and if convicted, he faces a potential sentence of 26 years to life imprisonment.

Attorney Saam Zangeneh told the jury that Mr. Momeni harbored no animosity towards Mr. Lee and that the circumstances compelled him to safeguard himself after brandishing a knife while under the influence of drugs and sleep-deprived. Zangeneh indicated that the defense would substantiate his claims that Momeni had indulged in an extended narcotics binge.

“We believe that once the evidence is presented and any ambiguities resolved, the only justifiable verdict in this case is one of innocence,” Zangeneh declared. “A life has been lost. No one condones that, but the right to self-defense must be recognized.”

Throughout prior court appearances, Momeni, dressed in an orange prison garment, attended with his lawyer donned in a formal ensemble. His mother, a constant presence at hearings, was also in attendance.

Seated on the opposite side of the courtroom were Mr. Lee’s relatives, including his ex-wife, father, and brother. As a recording of Lee’s distress call played in court, Lee’s brother comforted their father. In the call, Lee implored for assistance while unable to provide his location or identity, conveying that he had been attacked.

Assistant District Attorney Tarai mentioned that the jury would hear testimony from a friend present with Lee and Momeni’s sister a day before the altercation. Tarai alleged that Momeni verbally attacked Lee over the phone that evening, discussing his sister, drugs, and inappropriate subjects, with Lee exhibiting composure. Tarai insinuated that the friend would portray Momeni as a possessive individual striving to display toughness.

Mr. Zangeneh dismissed the credibility of the friend as a witness and contended that Momeni and Lee had exchanged amicable emails on that evening. Zangeneh suggested that Lee probably invited Momeni to the club.

CCTV footage from Lee’s final night depicted his entry into the opulent Millennium Tower where Momeni’s sister and her spouse, a prominent San Francisco plastic surgeon, resided. The footage captured Lee and Momeni departing the premises around 2 a.m. and driving off together in Momeni’s vehicle.

Tarai noted another video depicting two individuals exiting a car at a remote location along the Bay Bridge, with Momeni stabbing Lee thrice and discarding a knife from his sister’s kitchen set moments later, followed by his escape. Tarai revealed intentions of unveiling text messages sent by Momeni to his sister, alleging a harassment claim the subsequent morning when Momeni expressed uncertainty regarding Lee’s fate but accused Lee of assaulting Hazard.

The defense cited a video capturing Momeni being surveilled by San Francisco police detectives pre-arrest, purportedly reenacting the stabbing outside his former law firm thrice. However, the defense noted a lack of reenactment concerning the initial knife confrontation as claimed by Momeni’s attorney.

A knife with a 10cm blade was recovered at the remote location where Lee was assaulted. Prosecutors asserted that forensic tests exhibited Momeni’s DNA on the weapon handle and Lee’s DNA on the blood-stained blade.

Zangeneh indicated on Monday that the police should have screened the steering wheel for Lee’s fingerprints. He derided the notion that Momeni employed a trivial kitchen knife to perpetrate the assault, emphasizing Momeni’s perceived unawareness of Lee’s dire condition.

He expressed Momeni’s desire to elucidate his perspective yet remained undecided on Momeni’s potential testimony for the defense.

Momeni and Lee’s families opted not to comment on Monday.

Source: www.theguardian.com

Cash, drug cartels, and match-fixing in Confessions of a Match Fixer | Podcast

THow do we solve the world's problems? Apparently with a podcast. Today. Assembly requiredA Fine Mess is a new show from former US politician Stacey Abrams that aims to help listeners understand the planet's biggest ills and how they can be part of solving them. The show airs on the heels of A Fine Mess, in which entrepreneur Sabrina Merage Naim tackles some of society's toughest problems and “finds a way out of this chaos” by approaching them with curiosity rather than fear. Will it work? Who knows. But at this point, we're willing to try anything.

This week we're also highlighting the best podcasts about love, from profiles of Hollywood romances to a binge-worthy audio drama about two men falling in love, told over an answering machine. We're also featuring a moving confession from a former professional football player turned match fixer, a fascinating investigation into psychiatric medication, and a preview of the inspiring story of the Olympic refugee team. We hope one of them will bring you joy, even if it can't save the planet.

This week's picks

Dorsa Yavarivafa at the Paris Games. Along with fellow refugee swimmer Matin Barsini, she talks about her Olympic journey on the Unsung podcast. Photo: Kinh Chun/AP

Confession of match fixing
BBC Sounds, weekly episodes
“I would load up my car with cash and drive around London to see which footballers I could get to throw out,” Moses Swaibu says at the start of this confessional podcast. The former professional footballer admits he had the power to manipulate scores and make millions for overseas betting cartels. His voice is filled with regret as he tells Troy Deeney how he went from promising young player to traitor to the sport he loves. Hannah Verdier

script
Radio Atlantic, full episodes available
Can a “safe” opioid save you after another has ruined your life? If buprenorphine helped people quit heroin in France, why hasn't it worked in the U.S.? The Atlantic's Ethan Brooks asks these questions in a nuanced, thought-provoking examination of the withdrawal drug. HV

Hidden stars of unknown sports
Widely available, available now
Formed in 2016, the Refugee Olympic Team made history at Paris 2024 when boxer Sindy Ngamba won the team's first medal. In this special episode of our series celebrating unsung athletes, fellow Refugee Olympians badminton player Dolsa Yabalivafa and swimmer Matin Barsini share what such a journey is really like. Holly Richardson

A wonderful mess
Widely available, with weekly episodes
Philanthropist and investor Sabrina Meraj Naim lives a seemingly perfect and fulfilling life, but she's not in top shape. So she invites guests to help her face the big questions “with curiosity, not fear.” Questions on AI, cannabis legalization, the meaning of success, and more are all addressed here, with contributions from comedian Samantha Bee and reformed “girl boss” Samhita Mukhopadhyay. HV

Master Plan
Widely available, with weekly episodes
For two years, David Sirota, former speechwriter for Bernie Sanders and co-author of Don't Look Up, and his highly talented team have been investigating corruption and scandal at the U.S. Supreme Court. From Watergate to the 2020s, this podcast shows how corruption impacts everyday life and offers a frightening vision of what the future may hold. HV

There is a podcast

John Lennon and Yoko Ono was one of many celebrity romances detailed on the Significant Lovers podcast. Photo: Pacific Press/Shutterstock

this week, Charlie Lindler 5 best podcasts A wonderful love storyFrom stories of celebrity couples like John and Yoko to Dolly Alderton's fascinating miniseries

Precious Lover
A reimagined Twilight podcast, hosts Melissa Duffy and Kelly Anderson (known to listeners as Mel and Kel) delve into Hollywood romances in detail that borders on obsession, digging into the classics (John and Yoko, Brangelina) as well as a host of millennial-friendly couples, including Adam Brody and Rachel Bilson, Alex Turner and Alexa Chung, and Robert Pattinson and Kristen Stewart. Their investigative skills and genuine empathy with each couple make every episode heartbreaking.

Hook up and hitch
Page Six's podcast about celeb rock-solid marriages ran from 2020 to 2022, but — with apologies to Jason Momoa, Lisa Bonet and co — much of the content is still relevant today. Reporters Eileen Lethreng and Brian Firth dig into showbiz's biggest names' love stories, asking how their marriages have endured long-distance relationships, scandals, and the occasional infidelity. While other podcasts downplay the twists and turns in a tabloid-style manner, Hooked Up to Hitched is surprisingly short, with each episode taking fans on a whirlwind ride through history in under 10 minutes.

Source: www.theguardian.com