Saturday, May 31, 2025

Polaris of Enlightenment

Switzerland about to hold a referendum on the future of cash

Published 17 February 2023
– By Editorial Staff
Strollers in the street of the railway station in Zermatt, Switzerland.

Over 157,422 signatures have been collected so far by the Swiss Liberal Movement, FBS, in the campaign to hold a referendum in the country’s 26 cantons to save the cash system.

Of these, 111,197 names have already been validated, meaning that the referendum will go ahead, as the threshold for guaranteeing a referendum on an issue has been passed.

The FBS fears that cash is in danger of disappearing as digital and electronic payments increase, posing a threat to privacy, greatly increased surveillance and opportunities for banks and authorities to persecute, harass and punish individuals.

The proposal is to introduce a constitutional guarantee that Switzerland will always have enough money and banknotes and that any future proposal by politicians to abolish the Swiss franc must first be approved by the people as well as all cantons


Freely translated from the campaign site:

Cash equals freedom. If we pay attention to many internationally known economists, like prof. Kenneth Rogoff, the abolition of cash is being considered and even called for. This leads society more and more into dependency and surveillance.

In a world of digital-only currencies, these are questions everyone must ask:

  • Do we trust politics not to make us transparent citizens and want to control our lives through ‘social credit systems’?
  • What happens if the power goes out and nothing works anymore?
  • What will our world look like when the events simulated by the WEF with Cyber-Polygon happen?
  • What if hackers manage to paralyze systemically relevant areas?

That is why we urgently need this popular initiative.

Cash equals freedom because it can be used anywhere and at any time.

Cash promotes independence because we are not dependent on technical systems (electricity, card readers, internet).

Cash provides security, even against negative interest rates. Cash is an important part of our Swiss culture of voluntary and peaceful coexistence.


Representatives of the Swiss freedom movement demonstrate. Photo: FSB.

Switzerland is one of the few countries in the Western world that applies this type of direct democracy.

More information about the campaign can be found on the FSB website.

The Swissinfo information portal on how the Swiss system of recurrent referendums works

The Swiss political system is characterised by a very high level of citizen participation. One of the pillars of Swiss direct democracy is the principle of popular initiative, which allows citizens to propose a total or partial reform of the Constitution. To be valid, an initiative must collect at least 100 000 signatures from citizens within 18 months. It then goes to a nationwide vote.

Source: Swissinfo.ch

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Electric cars plummet in value – diesel holds up better than expected

Published yesterday 17:58
– By Editorial Staff
The Kia E-Niro has a 53% depreciation in three years - as much as the Tesla Model Y Long Range. It is the largest depreciation of all car models compared.

Diesel cars have long been identified as losers in the transition to electric vehicles, but a new study shows that they actually retain their value better than electric cars.

Over a three-year period, the value of certain diesel models decreased by as little as €6500, compared to electric cars, where the loss in some cases amounted to as much as €35,000.

The study, conducted by Carup, covers five diesel cars and five electric cars, all around three years old and with a mileage of less than 100,000 km, and the results show clear differences in depreciation between the two drivetrains.

Among the diesel cars, the Audi A6 Avant and Skoda Kodiaq performed best, with a depreciation of less than 20 percent. The Volvo V60 Momentum lost the most among the diesels – 33 percent – but even that was better than most electric cars in the comparison. The original new price for the model was € 37,500.

According to the survey, demand for used diesel cars remains strong, which is partly explained by a limited supply of newer diesel models. Despite higher taxes and environmental charges that have negatively affected diesel cars for several years, there still seems to be considerable interest in them.

Among electric cars, the Tesla Model Y saw the biggest drop. The car, which had a new price of nearly €66,000, has lost more than half of its value in three years. The Kia E-Niro, Volkswagen ID.4, and Volvo XC40 Recharge also recorded a value loss of around 50 percent. The largest monetary loss was seen in the Tesla – a whopping €35,000 – although a previous Swedish climate bonus of €6,400 mitigated the loss somewhat.

Diesel popular – despite higher operating costs

The difference in value growth is believed to be due to diesel cars having a more established second-hand market, while uncertainty surrounding the long-term battery performance and technology of electric cars continues to influence purchasing behavior.

At the same time, owning a diesel car entails higher running costs. Fuel prices and vehicle tax mean that the operating costs of a diesel car often exceed those of an electric car, which is something many buyers take into account when deciding which car to buy.

Our comparison shows that diesel cars are not the losers many people thought they would be. They have withstood the decline in value significantly better than electric cars. On the other hand, drivers have had to pay significantly more for fuel and vehicle tax over three years compared to electric cars. It remains to be seen who will be the winner over the next three years for those buying a used car. Three years ago, not many people believed in diesel cars”, Carup concludes.

One in five young Swedish women see shopping as a hobby amid rising debt

Published yesterday 16:22
– By Editorial Staff
Many young women say they shop "to feel better" - even though they can't really afford it.

Since 2015, Swedes’ total debts to the Swedish Enforcement Authority have increased by 50 percent – and young women account for the largest increase.

According to experts, the accumulation of debt is linked to the fact that as many as 22 percent of young women today consider shopping an important hobby – compared to only five percent of men.

– The figures are remarkably high. There is a problem in that they see it as entertainment, but also as a form of self-medication, says everyday economist Magnus Hjelmér on Swedish public television SVT.

One in five young women shops “to feel better” and one in ten say they “reward” themselves with shopping – even though they are aware that they cannot really afford it.

It is also noteworthy that around 20 percent of young Swedish adults prefer to buy things on credit or invoice rather than paying immediately at the time of purchase. This also causes young women to shop more than they otherwise would, and leads many into debt.

“Gaining happiness by buying things”

– Everyone shops. It’s not really strange. It’s stranger if you don’t have a shopping addiction. There are trends and everyone wants to have everything, so that’s just how it is, says Donja Mollazadeh, who admits that she shops as soon as she gets the chance.

It makes you happy, it’s like a dopamine rush you get inside. You feel good when you get new clothes and nice things, she continues.

Several young women the channel spoke to say they shop to make themselves “happy” or to “calm down” when they are stressed, and that they quickly tire of what they have just bought and want to shop even more.

– It’s about being a bit materialistic, maybe. That you get happiness from buying things, says Matilda Bergqvist.

“Reduce time on social media”

Magnus Hjelmér points out that there are several explanations for this negative trend. One is the rise of online shopping, which, together with easily accessible quick loans and credit, makes it very easy to shop plus, websites are designed so that it takes as few clicks as possible to make a purchase.

Influencers and social media are also singled out as culprits, and Hjelmér notes that huge sums of money are spent on marketing aimed primarily at young girls and women.

– One way to limit your shopping is actually to reduce the amount of time you spend on social media, he says, urging parents not to let their children save up for things they want to buy – and not to buy on credit.

Bitcoin reaches new record level – could become a safe haven

The new crypto economy

Published 23 May 2025
– By Editorial Staff

Bitcoin has broken a new record and is now trading at $111,196, having passed its January 2025 peak of $109,500. The rise, which began in the context of Donald Trump’s crypto-friendly presidency, has been boosted by regulatory tailwinds and institutional interest.

Christopher Kock, co-founder and CEO of Virtune, highlights Bitcoin’s growing role as a safe haven, like gold, in times of economic uncertainty. According to Kock, quoted by EFN, the price rise is being driven by institutional investors such as BlackRock and Fidelity, which are increasingly diversifying into Bitcoin.

He argues that the decentralized nature and limited supply of the cryptocurrency make it attractive, especially in a world of global instability. Kock believes that even small allocations from large players can drive the price up significantly more.

Despite the optimism, the volatility of the market is emphasized. Kock and other experts warn that speculation could lead to sharp corrections, although Bitcoin’s long-term potential as a digital asset is bolstered by growing confidence.

Fuel prices in Sweden set to climb regardless of political outcome

Published 20 May 2025
– By Editorial Staff
As the EU has also decided what the minimum tax level on petrol and diesel should be, Swedish politicians do not currently have the option of lowering taxes at will.

Swedes can expect gasoline and diesel prices to rise significantly from 2027, regardless of the political constellation in Sweden.

The reason is the EU’s new emissions trading system ETS 2, which forces fuel companies to pay for carbon dioxide emissions – a cost that directly affects consumers.

Regardless of the outcome of the 2026 election, Swedish motorists will face higher fuel prices. Behind the increase is the EU’s ETS 2 emissions trading system, which has already been adopted by the Swedish Parliament. The system, which comes into force in 2027, requires companies that sell fossil fuels to purchase emission allowances for every ton of carbon dioxide they emit. The cost is expected to be around SEK 2.50 (€0.23) extra per liter based on today’s prices for emission allowances.

Emissions allowances are already being traded on the pre-market, where the price in May was 74 euros per ton of carbon dioxide. According to John Hassler, professor of economics and former government climate advisor, this is a realistic forecast for the future:

– This is probably the best guess of what these emission allowances will cost in the future, he told state television SVT.

EU does not allow tax cuts

Sweden stands out in European comparisons as one of the countries where fuel prices are currently lowest, partly as a result of the government’s tax cuts on fuel.

However, the EU has the final say here too, and according to John Hassler, Sweden is already close to the lowest tax level allowed by Brussels for gasoline and diesel, which will make future price adjustments difficult when the new emissions trading system, ETS 2, is introduced.

– We cannot compensate for this by lowering taxes on gasoline and diesel, maybe by 0.5 SEK, but no more than that, he says.

Hundreds of millions to the treasury

At the same time, ETS 2 will generate significant revenue for the government estimated at €915 million annually as the EU distributes the revenue from emission allowances to member states. Hassler believes that the money should be used to mitigate the effects on Swedish households.

There is a good signal value in using this money for, for example, a climate bonus for Swedish households. One could also imagine this money going to people in rural areas or other places where it is difficult to find alternatives to cars.

Green Party spokesperson Amanda Lind has previously stated that the opposition is planning fuel price increases to reduce emissions. However, analysts believe that price increases will happen regardless of which party is in power in Sweden, as this has largely become an EU issue with limited national influence.

The EU Emissions Trading Scheme ETS 2 is an expansion of the previous emissions trading scheme to include the transport and construction sectors. The aim is said to be to push down the use of fossil fuels by making them more expensive. From 2027, fuel suppliers will have to buy allowances for their emissions, a cost that will be directly passed on to the end consumer.

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