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Going Cashless: Denmark’s Central Bank to Stop Producing Money
Wednesday, October 22, 2014 15:01
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In addition to the rise in alternative paying options, the central bank also said that today’s banknotes and coins are better recirculated into the economy
and made of a better quality that ensures a longer shelf life. When viewed as a whole, the bank has determined that note and coin production is no a longer financially sound option.
With more and more people paying with credit cards and their smartphones, Denmark’s central bank Nationalbanken says it no longer pays to print banknotes or mint coins.
By the end of 2016, Nationalbanken plans to outsource all of its printing and minting services to an external supplier.
“Although the amount of cash circulating in Denmark continues to be high, society’s demand for new banknotes and coins has been falling for years, and Nationalbanken has no expectations that the trend will be reversed,” the bank wrote in a press release.READ MORE…
Source: http://truthisscary.com/2014/10/going-cashless-denmarks-central-bank-to-stop-producing-money/
