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You don’t realize it but there’s a fortune in your wallet right now.
What? You don’t see it? That’s because you’re looking in the wrong wallet.
Take out your cell phone. In your hand right now is your financial future if you want to get rich.
Your smartphone is about to become your new “digital wallet.”
When it comes to your credit, your investments, your banking relationships, how you shop, how you are marketed to and how you pay for everything, your new digital wallet will be at the center of it all.
Understanding what kind of hardware your wallet takes, who delivers your digital services, and understanding your relationship to digital money will be the keys to making a bundle off of it all.
In fact, as the race to shape the future of e-commerce and e-payments develops, fortunes will be made by investing in the companies destined to be big winners in this fast-growing trend.
With that in mind, here’s a snapshot of what’s here now, where the trend is headed and how you can ride this phenomenal wave all the way to your own private beach.
The Rise of the Digital Wallet
First, you have to realize that you don’t use a lot of cash-even though you think you do.
The truth is the whole world is using less and less cash.
On the low end, Swedes transact commerce in cash only 3% of the time. Europeans pay with cash 9% of the time. And Americans pay in cash only 7% of the time.
The rest of the time we’re using credit cards, debit cards, prepaid cards, checks, coupons, the Internet, and increasingly, cellphones.
There are several reasons why we’re using cash less.
The goldbugs & silvercrazies have been drifting this for as long as I can remember.
Hadn’t checked the charts for some time, looks like things are on the move.
(charts are mine, snapshot taken intraday Friday.)
“The Chain of Custody Behi…
Sentiment continues to remain bullish, despite the declines in the averages last week.
Rydex funds are reaching ridiculous extremes. Rydex funds offer a good proxy for retail investor sentiment; retail investors are small money, an…
ECRI Growth Metric Drops Deeper Into Negative Territory
by: Doug Short September 9, 2011
The Weekly Leading Index (WLI) growth indicator of the Economic Cycle Research Institute (ECRI) has now dropped further into negative territory after oscillating…
The latest from Charles Hugh Smith….
Oil: We Need It, they Got It
February 25, 2011 (Mobile version-beta)
A snapshot of the oil market and the American lifestyle (consumption). It’s pretty easy to sum up America’s role in the glo…