Millions of accounts disappeared in Paraguay—Sweden could be next

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More than three million people in Paraguay suddenly lost access to their bank accounts and money when a digital bank shut down. Hans Eriksson joins us to discuss the risks of an increasingly digitized banking system, whether the same thing could happen in Sweden, and why cash may be our last line of defense. What happens when a bank can shut down your entire financial life with the push of a button?
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3 COMMENTS

  1. Paraguay was ruled for 40 years by Alfredo Stroessner of the Colorado Party … Alfredo S. had German roots and was said to have been influenced by the German Nazi Party.
    Anyway…Alfredo grew old and developed dementia, and his close friend staged a coup, after which Alfredo was granted asylum in Brazil, where he spent his final years. I suppose the coup leader made sure Alfredo had enough money to cover his living expenses and rent.

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