Friday, December 14, 2007

Gold and antiques have intrinsic values

Paper currency may be fake and the counterfeiting of paper currency is likely to explode in the US in the years to come. Forgery is not difficult for papers but precious metals have values since the 18th century as money in circulation. I am a collector by reason of the intrinsic values of hard coins especially old coins as antiques that folks would hold as valuables in the years to come.
American consumers have been slow to demand the latest technology offerings as compared to China,Japan and Korea as published by THE FUTURIST magazine, May-June 2007 issue.
Economist Reynolds Griffith outlined the advantages and disadvantages as follows:
Advantages of digital money: Theft of cash would become impossible.
Disadvantages: Loss of privacy as firms would have the ability to gather data on buying habits.
My comment: The debits cards of major banks are already in vogue such as Citibank and Bank of America. Consequently, cashless way is already in operation nowadays. Any comments? Francis Shieh a.k.a. Xie Shihao. December 14, 2007

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