Archives for October 2016

October 2016 - Page 23 of 25 - Money Morning - Only the News You Can Profit From

How to Profit When Negative Rates Push Cash to Extinction

Cash is likely going the way of the dinosaur, thanks to a one-two punch from governments and their central banks on one hand, and technology on the other.

It's unruly and chaotic, simply too hard to track and control. So, as part of a quiet but all-out war on cash, governments have thrown their weight behind the adoption of next-generation credit and debit card features, like the Euro-import "EMV standard" gold chip cards that were rapidly adopted in the United States.

When all you have to do is tap your credit card or smartphone to complete a purchase, the convenience is almost impossible to resist. Add the rapidly increasing galaxy of payment apps and devices, and you can see that the days of banknotes and coins are numbered worldwide.

This war is still in its early stages, but it's already going well for those who would see cash gone: A Gallup poll released in July reported that just five years ago, 36% of Americans said they made nearly all of their purchases with cash. In June this year, the result was just 24%.

The outcome is probably inevitable, but like the investing adage goes, "make the trend your friend" and tap into this really juicy profit opportunity I'm going to show you...