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Could we be seeing the end of cash?
On 1 November 1976, ABBA recorded the iconic song “Money, Money, Money,” that could perhaps serve as the mantra for any monetary economist during today’s high inflation However, the Swedish pop group’s Björn Ulvaeus, triggered by his son's apartment's burglary in 2008, ironically became a forceful advocate for eliminating cash for alternative forms of payment as he believed that such crimes would not occur in a cashless society. Could Ulvaeus’s vision now be coming to fruition? Ulvaeus was not the only Swede worried about the security of money, particularly in the mid-to-late 2000s after a string of ... (full story)