(The Economic Collapse Blog)—Have you noticed a charge on one of your cards that you can’t explain? If so, you may be a victim of one of the “tap-to-pay” terminals that are being installed all over the nation.
The television commercials that promote RFID technology that allows us to pay just by tapping a card are designed to make us feel warm and fuzzy about this new method of conducting transactions, but it turns out that this technology is not nearly as secure as most of us thought.
The industry insists that cards with these new chips can only be detected four inches away from the terminal, but there have been numerous cases where cards are literally being charged “from across the room”…
Panicked shoppers claim they have been charged for purchases while their credit cards were still in their pockets after in-store tap-to-pay systems read them from across the room.
Several customers have raised the alarm about the glitch which is said to have occurred across stores, restaurants and even a doctor’s office.
One woman said she was at least ‘two feet away’ from the reader when it managed to scan her card information and process a payment.
The local ABC News affiliate in San Francisco interviewed one victim named Edgar Mathews who says that he was billed for his groceries without ever pulling a card out of his wallet…
Mathews was trying to use his debit card to pay for groceries at Safeway — but that never happened.
“I hadn’t tapped it, I hadn’t inserted it, I hadn’t swiped it… and then all of a sudden, out comes a receipt. And I said, ‘How did this get paid for?’” said Mathews.
The cashier couldn’t explain it.
According to the industry, this should never happen. When Mathews checked his accounts, he discovered that the terminal at Safeway had actually charged a Bank of America credit card that was in his back pocket…
Mathews checked his bank accounts. Turns out, the “tap-to-pay” card reader at Safeway had ignored the debit card in his hand. Instead, it reached into Mathews’s back pocket, through his wallet and charged his Bank of America credit card tucked inside!
The news outlet also interviewed another local resident named Sonya Cesari.
According to her, a tap-to-pay terminal at one store actually read three credit cards that were “tucked in a wallet inside her purse”…
“Three days later at a boutique in Yountville,” said Cesari. She got an even bigger surprise at a little shop.
“The woman said, ‘Oh my, it’s just read three cards,’” said Cesari.
The store’s “tap-to-pay” system charged not only one, but three credit cards tucked in a wallet inside her purse.
Unfortunately, this is a problem that is not going to go away any time soon.
More tap-to-pay terminals are being put in with each passing day, and more tap-to-pay cards are constantly being issued.
So people are going to continue to be charged by mistake.
In some cases victims are actually being charged for goods that someone else is trying to purchase. Just check out the following example which was recently posted on Facebook…
Of course this sort of technology is going to make it even easier for hackers and scammers to steal from the general population.
Credit cards and debit cards are both extremely vulnerable, and criminals have a variety of methods that they can use to extract the information that they need…
Have you ever thought about how woefully insecure credit and debit cards are? Try this experiment: Plug a USB magnetic strip reader into a computer, open a word processor, swipe a credit card, and boom—you just stole your own card information. It’s that easy.
Now consider that the same technology comes in faster and smaller forms. Tiny “skimmers” can be attached to ATMs and payment terminals to pilfer your data from the card’s magnetic strip (called a “magstripe”). Even smaller “shimmers” are shimmed into card readers to attack the chips on newer cards. There’s now also a digital version called e-skimming, pilfering data from payment websites.
So what can we do to protect ourselves?
There are sleeves that you can get to protect your cards, and there are entire wallets that are designed to block RFID signals.
And it is imperative to always be diligent.
It has been said that “complacency is a killer”, and that is so true.
Try to avoid using ATM machines as much as possible, and if you are making payment at a gas station or some other highly vulnerable location always look for signs that something is out of place.
But no matter how hard you try, the truth is that credit cards and debit cards are never going to be 100 percent safe.
In 2022, credit card fraud surpassed the 34 billion dollar mark…
Credit and debit card fraud losses reached a record $34.36 billion in 2022 after increasing roughly 5% from the previous year.
The final number for 2023 will inevitably be even higher.
We live at a time when theft of all types is on the rise, and it will be even worse during the period of great societal chaos that is directly ahead of us.
2024 is going to be such a crazy year, and as conditions deteriorate people around us are going to become even more desperate.
So always watch your back, and always be diligent. Predators are constantly on the prowl, and you do not want to be the next victim.
Michael’s new book entitled “Chaos” is now available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here.
Why Bullion Beats Numismatics and Collectible for Your Safe or IRA
Precious metals continue to attract Americans seeking reliable ways to protect their wealth amid inflation, geopolitical risks, and stock market swings. Whether stored in a home safe or held inside a self-directed IRA, physical gold and silver deliver tangible value that paper or digital assets often lack. Yet investors must choose carefully between bullion—pure bars and coins valued mainly for their metal content—and numismatics or collectibles, where rarity, history, and collector demand heavily influence pricing.
Advisor Bullion serves as a dependable source for straightforward, high-quality bullion. The company specializes in physical gold, silver, platinum, and palladium, emphasizing transparent pricing and products that deliver maximum metal content for every dollar spent. This approach makes it ideal for both personal holdings and retirement accounts.
Bullion consists of refined precious metals in standard forms like one-ounce coins (American Gold Eagles, Silver Eagles, Canadian Maple Leafs) or bars. Their value tracks closely to the current spot price of the metal. A typical gold bullion coin trades near the live gold spot price plus a small premium. This structure keeps costs clear and predictable.
Numismatic coins and collectibles add substantial value from factors such as age, rarity, minting errors, or historical significance. A pre-1933 U.S. gold coin or graded proof piece can carry premiums of 30%, 50%, or even 200% above melt value. While this appeals to hobbyists, it creates complexity. Pricing depends on subjective grading, collector trends, and auction results instead of daily spot prices.
For investors focused on wealth preservation and retirement security rather than building a collection, bullion often delivers better results.
Lower Costs and Better Liquidity for Home Storage
When keeping metals in a home safe or private vault, liquidity and efficiency count. Bullion offers clear benefits:
- You acquire more actual gold or silver per dollar invested. Numismatics divert a large share of your money into rarity premiums and massive sales commission, reducing your metal exposure.
- Selling bullion involves tight bid-ask spreads, so you recover nearly full spot value with minimal fees. Collectibles require finding the right buyer and may sell at a discount if demand for that specific item weakens.
- Bullion prices remain transparent and update with global spot markets. You can track gold near current levels or silver accordingly and know exactly where your holdings stand. Numismatic values are priced by the Gold IRA companies with hefty margins applied.
- Standardized coins and bars store efficiently and divide easily for partial sales. Rare coins often need protective slabs and controlled conditions, adding hassle and expense.
- Bullion enjoys worldwide acceptance. A 1-oz Gold Maple Leaf or Silver Eagle sells quickly to dealers anywhere. Niche numismatic pieces may appeal only to limited buyers, slowing liquidation when speed matters.
In times when quick access to value becomes important, bullion’s simplicity stands out.
Stronger Fit for Precious Metals IRAs
Precious metals IRAs continue gaining traction as investors diversify retirement portfolios beyond stocks and bonds. IRS rules permit certain bullion products in self-directed IRAs if they meet purity standards (.995 fine for gold, .999 for silver) and are held by an approved custodian. Eligible items include American Gold and Silver Eagles plus many generic bars and rounds from recognized mints.
Numismatic and most collectible coins generally face heavy scrutiny from custodians due to valuation disputes and elevated markups. These higher premiums mean less actual metal ends up working inside the account.
Bullion avoids these issues. Its value links directly to verifiable spot prices, which simplifies reporting and lowers the risk of regulatory challenges. More of your IRA contribution purchases real metal instead of dealer profits or speculative upside. Over time, owning additional ounces that appreciate with the metal itself can create meaningful outperformance compared with high-premium alternatives that deliver fewer ounces.
Regulatory guidance from the CFTC and state securities offices repeatedly cautions against aggressive sales of expensive numismatics or “semi-numismatic” coins for IRAs. For retirement planning, transparent bullion from established providers reduces risk and aligns better with long-term goals.
How to Get Started with Bullion
Begin by clarifying your goals. Are you protecting savings in a safe, or moving part of a retirement account into a precious metals IRA? Focus on the number of ounces you can acquire at current prices rather than chasing marked-up collectibles.
Diversify sensibly: use gold for core preservation and silver for its blend of industrial and monetary qualities. Mix coins for easier divisibility with bars for lower per-ounce costs on larger buys. Arrange secure storage—whether at home with proper insurance or through professional facilities.
As economic uncertainties linger and faith in conventional assets erodes, bullion continues proving its worth as a dependable store of value. Its direct approach avoids the hype that sometimes surrounds collectible markets and keeps the focus on the metal itself.
For investors prepared to strengthen their portfolios, Advisor Bullion supplies the expertise and selection needed to acquire high-quality bullion efficiently. Whether building personal holdings or integrating metals into an IRA, their emphasis on transparent, investment-grade products helps secure more ounces today that support greater financial security tomorrow. In a complicated financial landscape, bullion’s clarity and reliability make it the smarter foundation for protecting what matters most.