i don't think this is exactly a hoax.. overzealous paranoia maybe.
my understanding is that they are putting the chips in many products at walmart to track thier products but there is no evidence that they can use them to 'spy' on anyone.. yet.
plus the only thing they can do with the chips is find out where they are.. so they can track a gillette razor to your medicine cabinet.. oh no, they found me! agh
i really don't see how that could infringe on privacy.
also, the emf fears are much more a reality with cell phones than these chips. and achimp.. you know that we evolved with the sun's effects but we Didn't evolve with the effects of human generated emf's, and the jury is still out in most cases on how this effects us.