- Watch The JD Rucker Show every day to be truly informed.
(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.
Five Things New “Preppers” Forget When Getting Ready for Bad Times Ahead
The preparedness community is growing faster than it has in decades. Even during peak times such as Y2K, the economic downturn of 2008, and Covid, the vast majority of Americans made sure they had plenty of toilet paper but didn’t really stockpile anything else.
Things have changed. There’s a growing anxiety in this presidential election year that has prompted more Americans to get prepared for crazy events in the future. Some of it is being driven by fearmongers, but there are valid concerns with the economy, food supply, pharmaceuticals, the energy grid, and mass rioting that have pushed average Americans into “prepper” mode.
There are degrees of preparedness. One does not have to be a full-blown “doomsday prepper” living off-grid in a secure Montana bunker in order to be ahead of the curve. In many ways, preparedness isn’t about being able to perfectly handle every conceivable situation. It’s about being less dependent on government for as long as possible. Those who have proper “preps” will not be waiting for FEMA to distribute emergency supplies to the desperate masses.
Below are five things people new to preparedness (and sometimes even those with experience) often forget as they get ready. All five are common sense notions that do not rely on doomsday in order to be useful. It may be nice to own a tank during the apocalypse but there’s not much you can do with it until things get really crazy. The recommendations below can have places in the lives of average Americans whether doomsday comes or not.
Note: The information provided by this publication or any related communications is for informational purposes only and should not be considered as financial advice. We do not provide personalized investment, financial, or legal advice.
Secured Wealth
Whether in the bank or held in a retirement account, most Americans feel that their life’s savings is relatively secure. At least they did until the last couple of years when de-banking, geopolitical turmoil, and the threat of Central Bank Digital Currencies reared their ugly heads.
It behooves Americans to diversify their holdings. If there’s a triggering event or series of events that cripple the financial systems or devalue the U.S. Dollar, wealth can evaporate quickly. To hedge against potential turmoil, many Americans are looking in two directions: Crypto and physical precious metals.
There are huge advantages to cryptocurrencies, but there are also inherent risks because “virtual” money can become challenging to spend. Add in the push by central banks and governments to regulate or even replace cryptocurrencies with their own versions they control and the risks amplify. There’s nothing wrong with cryptocurrencies today but things can change rapidly.
As for physical precious metals, many Americans pay cash to keep plenty on hand in their safe. Rolling over or transferring retirement accounts into self-directed IRAs is also a popular option, but there are caveats. It can often take weeks or even months to get the gold and silver shipped if the owner chooses to close their account. This is why Genesis Gold Group stands out. Their relationship with the depositories allows for rapid closure and shipping, often in less than 10 days from the time the account holder makes their move. This can come in handy if things appear to be heading south.
Lots of Potable Water
One of the biggest shocks that hit new preppers is understanding how much potable water they need in order to survive. Experts claim one gallon of water per person per day is necessary. Even the most conservative estimates put it at over half-a-gallon. That means that for a family of four, they’ll need around 120 gallons of water to survive for a month if the taps turn off and the stores empty out.
Being near a fresh water source, whether it’s a river, lake, or well, is a best practice among experienced preppers. It’s necessary to have a water filter as well, even if the taps are still working. Many refuse to drink tap water even when there is no emergency. Berkey was our previous favorite but they’re under attack from regulators so the Alexapure systems are solid replacements.
For those in the city or away from fresh water sources, storage is the best option. This can be challenging because proper water storage containers take up a lot of room and are difficult to move if the need arises. For “bug in” situations, having a larger container that stores hundreds or even thousands of gallons is better than stacking 1-5 gallon containers. Unfortunately, they won’t be easily transportable and they can cost a lot to install.
Water is critical. If chaos erupts and water infrastructure is compromised, having a large backup supply can be lifesaving.
Pharmaceuticals and Medical Supplies
There are multiple threats specific to the medical supply chain. With Chinese and Indian imports accounting for over 90% of pharmaceutical ingredients in the United States, deteriorating relations could make it impossible to get the medicines and antibiotics many of us need.
Stocking up many prescription medications can be hard. Doctors generally do not like to prescribe large batches of drugs even if they are shelf-stable for extended periods of time. It is a best practice to ask your doctor if they can prescribe a larger amount. Today, some are sympathetic to concerns about pharmacies running out or becoming inaccessible. Tell them your concerns. It’s worth a shot. The worst they can do is say no.
If your doctor is unwilling to help you stock up on medicines, then Jase Medical is a good alternative. Through telehealth, they can prescribe daily meds or antibiotics that are shipped to your door. As proponents of medical freedom, they empathize with those who want to have enough medical supplies on hand in case things go wrong.
Energy Sources
The vast majority of Americans are locked into the grid. This has proven to be a massive liability when the grid goes down. Unfortunately, there are no inexpensive remedies.
Those living off-grid had to either spend a lot of money or effort (or both) to get their alternative energy sources like solar set up. For those who do not want to go so far, it’s still a best practice to have backup power sources. Diesel generators and portable solar panels are the two most popular, and while they’re not inexpensive they are not out of reach of most Americans who are concerned about being without power for extended periods of time.
Natural gas is another necessity for many, but that’s far more challenging to replace. Having alternatives for heating and cooking that can be powered if gas and electric grids go down is important. Have a backup for items that require power such as manual can openers. If you’re stuck eating canned foods for a while and all you have is an electric opener, you’ll have problems.
Don’t Forget the Protein
When most think about “prepping,” they think about their food supply. More Americans are turning to gardening and homesteading as ways to produce their own food. Others are working with local farmers and ranchers to purchase directly from the sources. This is a good idea whether doomsday comes or not, but it’s particularly important if the food supply chain is broken.
Most grocery stores have about one to two weeks worth of food, as do most American households. Grocers rely heavily on truckers to receive their ongoing shipments. In a crisis, the current process can fail. It behooves Americans for multiple reasons to localize their food purchases as much as possible.
Long-term storage is another popular option. Canned foods, MREs, and freeze dried meals are selling out quickly even as prices rise. But one component that is conspicuously absent in shelf-stable food is high-quality protein. Most survival food companies offer low quality “protein buckets” or cans of meat, but they are often barely edible.
Prepper All-Naturals offers premium cuts of steak that have been cooked sous vide and freeze dried to give them a 25-year shelf life. They offer Ribeye, NY Strip, and Tenderloin among others.
Having buckets of beans and rice is a good start, but keeping a solid supply of high-quality protein isn’t just healthier. It can help a family maintain normalcy through crises.
Prepare Without Fear
With all the challenges we face as Americans today, it can be emotionally draining. Citizens are scared and there’s nothing irrational about their concerns. Being prepared and making lifestyle changes to secure necessities can go a long way toward overcoming the fears that plague us. We should hope and pray for the best but prepare for the worst. And if the worst does come, then knowing we did what we could to be ready for it will help us face those challenges with confidence.
