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http://news.yahoo.com/s/ap/20070307/ap_on_hi_te/china_virtual_money

2007-03-07 08:03:12 · 4 answers · asked by Anonymous in Business & Finance Investing

There are internet services offering credits that can be used to purchase product that do not involve money. There are gambles being made on the economy and catastrophic possibilities

2007-03-07 10:54:46 · update #1

4 answers

It already happened; first checks, then wire transfers...

2007-03-07 08:45:28 · answer #1 · answered by NC 7 · 0 0

Almost all U.S. money is virtual. One formula was created showing how $1 became $999 in virtual money. Most of this money is generated from loans/debt. When you pay $600,000 for a house, where does the money come from? Well it's all virtual. When you have a couple of mortages on that house you are creating even more virtual money. Bankrupcy erases virtual money. This concept triggered the collapse of the Savings and Loans industry in the 80s and even today some sub prime loan companies are suffering a collapse as the housing boom came to a close and the foreclosures came rolling in.

2007-03-07 16:57:18 · answer #2 · answered by gregory_dittman 7 · 0 0

Read Revelations.

2007-03-07 16:10:43 · answer #3 · answered by JMSA540 2 · 0 0

It's already happening. Businesses already exist that will not accept anything but electronic payments.

2007-03-07 16:17:09 · answer #4 · answered by Rob D 5 · 0 1

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