Will Store Gift Cards Become Cash?

QUESTION: Marty:
In reading your blog about No Small Amount is Too Small, is it safe to say that the future of gift cards will be non-existent? Or will gift cards be the run-around?

NO

ANSWER: There seems to be a loophole right now with the gift cards. When I tried to buy an American Express debit card and load it with a couple hundred for a gift to send overseas, I was told I could not. It can only be in my name. As it stands now, if governments eliminated paper money but still allowed gift cards in bearer form, then they would simply become cash. It would seem that store cash gift cards would become the circulating cash in the black market economy. When that becomes more commonplace, they would probably shut that down or make them non-transferable in some name that is specific.

Latest Posts

Europe Turning it Back of USA to Start World War III

Zanny Minton Beddoes, Editor-in-chief at the Economist began her rant: “Well, the world changed yesterday.” The anti-Americanism is percolating to a boil. She continued: “Ukraine’s future, European security and transatlantic [...]
Read more

The Fate of Europe is Doomed

QUESTION: Mr. ARmstrong, You have warned that your model will reach another turning point on May 15th. You have also said that Trump has no time for Zelensky or European [...]
Read more