Swedes are reportedly hiding money in microwave ovens in a desperate attempt shield it from the negative effects their central bank’s “war on cash.”

As Business Insider puts it, the Nordic country is “shaping up to be the first country to plunge its citizens into a fascinating — and terrifying — economic experiment: negative interest rates in a cashless society.”

The Swedish central bank, the Sveriges Riksbank, on Wednesday held its benchmark interest rate at -0.35%, the level it has been at since July. Though retail banks have yet to pass that negative rate on to Swedish consumers, they face increased pressure to do so as long as the rates remain where they are. That’s a problem, because Sweden is the closest country on the planet to becoming an all-electronic cashless society.”

This represents another salvo in a “war on cash” quickly gaining steam around the world. Central banks and governments justify this war as a means of fighting terrorism, money laundering, and other illegal activities.

As we reported earlier this year, France announced severe new restrictions on cash transactions. As of the end of September, French residents can no longer make cash payments of more than 1,000 euros. The limit was formerly 3,000. Foreign visitors’ cash payments are now capped at 10,000 euros rather than 15,000. A proposed Danish law made public last spring would allow shops to refuse cash and require some form of electronic payment. Policymakers claim the law would “ease administrative and financial burdens.”

But as we’ve reported, the war on cash is about more than stopping terrorism or catching tax evaders. Central bankers yearn to abolish cash because they can more easily manipulate the economy in a cashless environment. This lies at the root of Swedish policy. Business Insider summarized the desired effects of Swedish central planning: