Busting Scams - From HYIPs to Identity Theft Insurance

It's pretty clear to me that we will be seeing a quiet revolution in the nature of money over the next decade. The role of governments will be greatly reduced. Fiat currencies will become secondary to other stores of value (e.g. precious metals like gold).

That's right, the US Dollar is quickly falling from its perch as the world currency. What will replace it, the Euro? I don't think so. I even wonder if the Euro will be around 10 years from now. Even if it is, it will be polluted over time by countries with economies far less strong than those of France and Germany, the anchors of that currency.

I sell software to people in China. None of them have credit cards, nor do they have Paypal or other online systems. They currently use account-to-account direct transfers for a small flat flee. That must drive Visa/Mastercard crazy -- a big market where they don't get their 2%+ transactions fees. But, people don't always like to use banks, and lots of folks don't want to receive money into a government-monitored account.

What will succeed the almighty dollar? One distinct possibility is e-currency. More on this in my next entry. Read this first: Demand for fiat money was created by its acceptance for payment of taxes.