Shayne Looper: The dangerous devaluation of religious language Aug 11, 2009
They are real legal tender that a friend brought back from a recent trip. Zimbabwe s currency is hardly worth the paper it is printed on. (Belmont Citizen Herald, MA)
Letters to the editor, Aug. 6 Aug 8, 2009
If Federal Reserve notes are legal tender for all debts, public and private, won t our secession from the Union require a separate legal system to recognize and enforce the new currency s standing. Furthermore, transactions deemed to be bartered exchanges could lead to an auditing bonanza for the IRS and MA Department of Revenue. (Burlington Union, MA)
* The view from Hong Kong Aug 6, 2009
I pointed to the draft and showed that the Hong Kong dollar will be Hong Kongs legal tender. And people said: Well you are too young, you were not around when the Communist Party took over the mainland of China and the first thing they did was to change the currency K We just cant imagine how Hong Kong can continue to use the Hong Kong dollar when the countrys currency is the renminbi. (Taipei Times, Taiwan -- World)
Precious Metals Investment Jul 24, 2009
With bullion coins the face value of the coin for legal tender can be well below their value as bullion, determined by their weight and purity. An example is the Canadian Gold Maple Leaf Coin which has a legal tender face value of $50, but contains one troy ounce of gold, making it worth several hundred dollars as bullion. (Suite101.com)
Silverites versus Goldbugs Jul 21, 2009
It required the Treasury to purchase $2 to $4 million of silver bullion a month and issue legal tender in silver. It was intended to subsidize the silver industry and inflate prices. (Suite101.com)
New design RM50 note issued Jul 16, 2009
It said the existing RM50 banknote design series would continue to remain legal tender and would co-circulate with the new notes and would be gradually phased out. No time limit had been set on the duration of co-circulation, it added. (The Star Online, Malaysia)
America's warm outpost plays it cool in a bad economy Jul 14, 2009
I kept having to remind myself that the United States dollar was legal tender a 00003D18 nd kept readjusting my temperament for "island time" when requesting service at hotels, restaurants and stores. Hawaii was an independent nation until, fractured by revolution, it was none-too-fairly annexed by the United States in 1898, in part to placate American business interests and in part to grab Pearl Harbor. (Herald Online, SC -- Lifestyles)
A Force of One: The Federal Reserve Jul 14, 2009
As Ron Paul explained last week: "Our Founding Fathers never intended for a single entity such as the Federal Reserve to have this much power. In fact, there is no authority in the Constitution for the federal government to create a central bank, to enact legal tender laws, or to print paper money. The Tenth Amendment is quite clear that 'The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the... (Townhall.com)
This $17 Trillion Divorce Won't Be a Pretty One Jul 10, 2009
They are really an account of exchange, rather than legal tender, and are calculated according to a basket of currencies consisting of the dollar, euro, yen and pound. Chinese central bank Governor wants the IMF to move toward creating a super-sovereign reserve currency. (Bloomberg -- Columnists)
Editorial: Let’s not sneer at California Jul 10, 2009
We accept money as legal tender because the government says it is and we are used to the fact that there is nothing behind it, no silver and no gold, and nothing of tangible value at all. So let s not sneer at California and its need to issue IOUs because it was running out of cash. (Albany Democrat-Herald, OR)
California currency chaos Jul 9, 2009
Any resemblance to legal tender for all debts, public and private, the phrase printed on actual dollars, is fading. EDITORS CHOICE. (FT.com -- Markets)
What have we learned from the preseason magazines? Jul 9, 2009
Gen Neyland -They may not be legal tender, but save your Confederate dollars. Thanks to conservative Confederate monetary policy since 1865, $1 Confederate is worth more than $1 U.S. to a collector. (Atlanta Journal-Constitution -- Sports)
Ron Pauls bipartisan attack on the Fed Jul 9, 2009
That the Fed can manipulate the currency and "create legal tender out of thin air" is heresy. And so Paul attempts to dismantle it the only way he can: through legislation. (MSNBC -- Business)
Canada's Dollar Drops as Investors Cut Holdings of Commodity Currencies Jul 8, 2009
The performance of Canadas legal tender this year lagged behind that of commodity-producing peers such as Australia and New Zealand that refrained from cutting interest rates close to zero. The loonie gained 4. (Bloomberg -- Canada)
Pa’in with interest Jul 4, 2009
give it to the teller and the teller gives you good old American folding green, legal tender, on the spot. Or -- if you re doing fine and feeling flush, hang on to that IOU and the State of California will pay interest -- 3 percent -- on what they owe. (Winona Daily News, MN)
* World News Quick Take Jul 2, 2009
The Royal Mint says the coins are legal tender, but has not commented on their current or potential value. ZIMBABWE. (Taipei Times, Taiwan -- World)
Zimbabwe: Mugabe Hints at Bringing Back Zimbabwe Dollar Jun 27, 2009
The new coalition government in February quickly introduced the United States Dollar and the South African Rand as legal tender, and within days shops were full to the rafters with groceries and other supplies. But the big question was always the issue of the supply of the forex cash notes themselves. (allAfrica.com)
Its Finished, John Lanchester, The London Review of Books Jun 16, 2009
And heres the really annoying part: he or she would be well within his or her rights, because Scottish banknotes are not legal tender. Legal tender is defined as any financial instrument which cannot be refused in settlement of a debt ... Bank of England notes are legal tender in England and Wales, and Bank of England coins are legal tender throughout the UK, but no paper currency is. (Harper's Magazine)
Oatman: An Arizona original Jun 16, 2009
Another curious sight is the sprawl of legal tender covering the walls of the hotel restaurant. Thousands of dollar bills are tacked up, a custom that began during the town's boom years. (AZCentral -- Travel)
Record Gains in Kiwi, Aussie Spur Intervention Talk as Loonie Parity Looms Jun 16, 2009
Policy makers already have started trying to talk down their currencies, sparking speculation central banks may lower interest rates, print money or buy their own legal tender to curb the gains ... Nicknamed the kiwi for the flightless bird on its $1 coin, New Zealands dollar is the biggest three-month spot-return performer against the U.S.s legal tender after Australias dollar and South Africas rand. (Bloomberg -- Canada)
Canadian Dollar's Biggest Gain in 59 Years Nears Parity, Risks Backfiring Jun 6, 2009
Barrow, Standard Bank Plcs head of research for Group of 10 currencies in London, now says the loonie will strengthen to parity with the U.S.s legal tender within a year amid increased demand for oil and other Canadian commodities. After closing yesterday just shy of C$1. (Bloomberg -- Canada)
Direct Talks With Cuba Heat Up Jun 2, 2009
June 1, 2009 11:13 PM. Direct Talks With Cuba Increasing, But Normal Relations Still Far Off. (CBS News)
Rule-of-law push failing: Tsvangirai Jun 1, 2009
Mr Tsvangirai told party loyalists the adoption of hard currency as legal tender halted world-record inflation of 500 billion per cent in the now abandoned currency. More humanitarian aid was also being received to restore health services and collapsed utilities. (Sydney Morning Herald -- World)
Oregon had inside track on California’s gold rush May 31, 2009
The provisional/territorial legislature even voted to make wheat legal tender at one point, and territorial governor George Abernathy gave out special rocks as change at his store they were known, possibly not fondly, as Abernathy Rocks. But once all this gold came pouring in, suddenly business owners needed scales to weigh gold dust, a group of citizens started stamping it into 5 and 10 Beaver money, and business got quite a lot easier to do. (Albany Democrat-Herald, OR)
Zimbabwe Prime Minister: Country Lives in Fear May 31, 2009
Tsvangirai told his party loyalists Saturday the adoption of hard currency as the country's legal tender halted world-record inflation of 500 billion percent in the now abandoned local currency. More humanitarian aid was also being received to restore health services and collapsed utilities. (Time.com)
Australian dollar's rally at vanguard of global recovery May 27, 2009
Australia's legal tender also may weaken as investors turn to assets in emerging markets, like Brazil and South Africa, where benchmark interest rates are 7. 25 and 5. (Business Report, South Africa)
Group hopes to overthrow current monetary system May 23, 2009
"The only thing it's not," Stofen said, "is legal tender." In other words, it is not government-sanctioned as the official currency. But Boritzke questioned the premise that the dollar's backing, a pledge from the U.S. Government, is a weak one. (Racine Journal Times, WI)
For Nicaraguans, New Currency Is a Hot Potato May 23, 2009
In a country accustomed to surprises from its government, Nicaraguans received another curiosity on May 15 when they awoke to find that the Central Bank, moving in the night as stealthily as the Tooth Fairy, had snuck a new legal tender into their economy while the markets were sound asleep. Related. (Time.com)
BoG to re-think pesewa denominations May 21, 2009
Dr Aquah also endorsed the suggestion of reporting persons who rejected the one pesewa coin to the police, saying that the one pesewa coin is legal tender and remains a medium of payment accepted by law ... The one Ghana Pesewa coin was one of the currencies introduced by the Bank of Ghana (BoG) in its redenomination exercise in July 2007, but it appeared to have lost its value as legal tender shortly after the exercise. (Ghana Web, Ghana)
- oice: Saving self from banana republic (5) May 11, 2009
socrates wrote on May 10, 2009 6:35 PM:" rickvalenz and Carrico make their points.After the glorious and under-reported "Bankers Revolution" (my term) in 1913, our Republic began to hit the skids economically and has never recovered.Our representatives allowed Banks to issue "legal tender" _notes_ in return for gold coin deposits. So banks stole all gold deposited, to be seen by depositors no more. In 1932 our government outlawed the possession of gold bullion. So we, citizens, had to dutifully... (El Centro Imperial Valley Press, CA)
Fairfield Citizen's Police Academy Alumni hosts Secret Service Agent May 8, 2009
At the close of the Civil War approximately one third of the legal tender in the US was counterfeit, and so the Secret Service was charged with restoring the integrity of the dollar. The agency's mandate was expanded in 1901 to protecting the Chief Executive of the United States. (Fairfield Minuteman, CT)
UN chief hails Chad-Sudan talksUS calls on Sudan, Chad to stop aiding violence in DarfurAl-Bashir arrives in Addis AbabaRights groups urge Africa to cooperate with ICC over Darfur Egypt to host anti-piracy conference in MayUNICEF scales up distribution of mosquito nets in SomaliaSomalian president in working visit to BrusselsNo contact with hijacked Pompei Central African countries meet 11 May over swine fluJapan grants DR Congo US$7 million food aidUN Radio: Boeing 727 crashes in southwestern DR CongoFAO boss says food situation in DRC precarious Ivorian Prime Minister urges mutinous soldiers to remain calmGbagbo: "Whoever delays Ivorian elections is a criminal"Gbagbo reaffirms his desire for Ivorian peaceGbagbo signs Ivorian amnesty law ON THE WIRE Africas first currency museum opens in NigeriaLagos, Nigeria (PANA) - The first currency museum in Africa has been commissioned in Abuja, the Nigerian capital, as part of activitiesmarking the 50th anniversary of the Central Bank of Nigeria (CBN). 07/05/2009 Full Text... May 7, 2009
He said the museum would serve to preserve financial materials that would be ben eficial to future generations, and that it was set up to remind Nigerians that the use of legal tender or money did not begin with the issuance of the first currency by the CBN in 1959. The bank started with the issuance of the Nigerian Pound and Shilling as the nat ional currency, which later was changed to Naira and Kobo in 1973. (Panapress.com)
Tourist town cashing in by accepting Euros as well as pounds May 4, 2009
Page last updated at 13:39 GMT, Sunday, 3 May 2009 14:39 UK. Euro 'paying off' for resort town. (BBC News -- UK)
“Atlas Shrugged” Riding High Apr 28, 2009
An alternate view is that well-intentioned government intervention (legal tender laws, artificially lowered interest rates to stimulate the economy, politically motivated encouragement of home ownership, federal reserve system and deposit insurance support for inherently unstable fractional reserve banking practices, etc. removed many of the self-regulating aspects of a truly free market that would have prevented the abuses. (Atlanta Journal-Constitution -- Opinion)
Yesterday's Winners Are Tomorrow's Losers Apr 18, 2009
The driving force is that the younger you are, the less relevant greenbacks seem to be as legal tender. advertisement. (MSNBC -- Business)
Zimbabwe: Shelves Fill Up But Customers Stay Away Apr 16, 2009
"The use of foreign currencies as legal tender has really affected the local people because they have no access to foreign currency," one of the assistants, Dudzai, told IRIN. "Where does the government expect the villagers to get foreign money when it is battling to pay its own civil servants?". The use of foreign currencies as legal tender has really affected the local people because they have no access to foreign currency. (allAfrica.com)
Zimbabwe to dump its near-worthless currency Apr 13, 2009
41), the government adopted international hard currencies, mostly the United States dollar and the South African Rand, as legal tender alongside the local currency. Inflation running into percentage points with 15 zeroes had made trade in Zimbabwe dollars impossible and business was already conducted predominantly in hard currencies, albeit technically illegal. (Sydney Morning Herald -- Business)
SBI history cell keeps Kolkata's secrets Apr 13, 2009
On display was literally an embarrassment of riches the countrys first paper money in the form of a promissory note introduced by the erstwhile Bank of Hindustan in 1770, Prince Dwarkanath Tagores Rs 60,000 loan document of 1817, the first legal tender issued by Bank of Bengal in 1809, JRD Tatas resignation letter of 1943 as director of Imperial Bank of India protesting against the tardy pace of Indianisation of the bank. In case you didnt know, SBIs illustrious borrowers... (India Times)
'Mesa Bucks' aim to lure shoppers Apr 11, 2009
It's not legal tender, and it's not good anywhere outside of Mesa. For that matter, right now it's not even good within city limits. (AZCentral -- News)
Communities Print Currency to Keep Money Local Apr 10, 2009
It looks like Monopoly money, but the colorful currency created by collaborators in the western Massachusetts town of Great Barrington is legal tender. The creative cash is called "BerkShares," a play on words, referring to the mountainous region called the Berkshires, where businesses and citizens have come together to support each other in these tough economic times. (Fox News)
US dollar becomes the darling of the economy Apr 10, 2009
Although Zimbabwe's local currency is still legal tender, transactions usually take place in other currencies, according to Zimbabwe economist John Robertson. The Zimbabwe dollar's demise came after the government's February decision to allow foreign currencies to be freely used and the announcement last month that the rand would serve as Zimbabwe's "reference currency". (Business Report, South Africa)
Government hands out counterfeit money Apr 1, 2009
There is no gold or silver standard to back the money anymore just worthless money marked legal tender. That only means the government says the money is good. (Klamath Falls Herald & News, OR)
Nigeria: Islamic Banking and Finance [editorial] Mar 30, 2009
To address these, Muslim thinkers, such as Mahathir Mohamad, have canvassed for the use of gold and silver as legal tender as against the use of "representative" forms of money such as paper and economic data. Under such metal monetary system, gold and silver, unlike 'representative' money cannot be created out of nothing, and so no organisation has the power to create money without cost, which becomes an important guarantee of stability in a monetary system. (allAfrica.com)
Bank bailout fund down to $135B... Mar 30, 2009
Obama has surrounded himself with globalist thinkers who believe America's sovereignty is an outdated notion and that her place is not at the head of the world community as an independent nation but rather an equal part of it, on par with human rights violators such as Iran, Saudi Arabia, et al. In direct concert with this globalist mentality is the need for a global currency; the dollar should no longer be regarded as the currency of choice but relegated to a place that sees all nations holding... (The Drudge Report)
Sierra Vista police battle counterfeit cash Mar 29, 2009
One of the best and fastest ways to detect if a bill had been printed on paper as opposed to the cotton fiber of legal tender is to check the feel of the bill. That s what we re telling everybody, Ashline said. (Sierra Vista Herald, AZ)
IMF: Zimbabwe won't get money if in debt Mar 29, 2009
That inflation has been under control since the country abandoned its worthless legal tender earlier this year and began using the U.S. dollar, the British pound and the South African rand. The IMF report noted that move had strengthened Zimbabwe's position. (CNN -- World)
This is what it sounds like, when derivatives traders cry Mar 28, 2009
" But on Wednesday Bachmann The President may not enter into a treaty or other international agreement that would provide for the United States to adopt as legal tender in the United States a currency issued by an entity other than the United States. What happened in the meantime? Geithner appeared before the Council on Foreign Relations on Wednesday morning and confused his audience, not to mention currency traders watching the live stream of the event all over the world, by appearing to... (Salon)
Rep. Bachmann Moves to Block Global Currency Mar 27, 2009
The amendment simply states: The president may not enter into a treaty or other international agreement that would provide for the United States to adopt as legal tender in the United States a currency issued by an entity other than the United States. . (Newsmax)
Ron Paul makes Tim Geithner furrow his brow Mar 27, 2009
The President may not enter into a treaty or other international agreement that would provide for the United States to adopt as legal tender in the United States a currency issued by an entity other than the United States. What happened in the meantime. (Salon)
Zimbabwe will not 'randify' its economy - report Mar 22, 2009
The Zimbabwe government adopted a multiple currency trading system in February whereby the rand, the US dollar and Botswana pula operate as legal tender alongside the Zimbabwean dollar. - Sapa. (Business Report, South Africa)
Letters to the Editor: Mar 18, 2009
To restore sound money backed with gold or silver, Congress should pass legislation such as H.R. 2756 to repeal our nation s legal tender laws and phasing out the Federal Reserve System and the Federal Reserve Note as in H.R. 2755. Read, The Creature from Jekyll Island, by G. Edward Griffin to understand how the Fed was created to rob from the poor and middle-class while expanding the wealth and power of global elitists. (Ontario Argus Observer, OR)
Wall St. Falters Amid Investor Uncertainty Mar 10, 2009
LET THEM GO UNDER. THEY GET NO SYMPATHY FROM ME."---Nor from most of us, either. But a "bailout" is a popular euphemism for a public share taxpayers now have in the management of the banks. In effect, the American public has been asked by Wall Street to invest heavily in its assets, in order to restore Wall Street confidence. $700 billion ought to restore the confidence of almost anybody, if it is legal tender. But there is the rub-- Wall Street wants the taxpayer to buy its own bad mortgage... (CBS News)
Bondholders Get Stiffed With Perfect Alibi Mar 5, 2009
Ecuador cant control the supply of money circulating in the economy because it has the U.S. dollar as its legal tender. Venezuela and Bolivia have managed currency regimes and risk spending a substantial part of their reserves uselessly to defend a certain price for their mediums of exchange. (Bloomberg -- Columnists)
Gold Standard Fans Yearn for Great Depression Mar 3, 2009
Some folks interpret golds rally against the dollar at a time the greenback is strengthening against many currencies as a sign of investor disenchantment with fiat, or paper, money -- legal tender with no tangible backing except the good faith of the government that issued it. The risk is that hyperinflation may render it worthless. (Bloomberg -- Columnists)
Food for thought on local panhandler Mar 3, 2009
Bluto wrote on Mar 1, 2009 12:33 PM:" He needs to learn to play the harmonica or guitar or something. At least entertain!Don't over estimate the humiliation this guy feels. He may very well make plenty of tax free dough while laughing at YOU for giving it to him.Just don't give it to him. Let him explore the avenues others have. "This writer/these writers" is/are perpetuating the myth that this is an honest and truly needy man worthy of much pity and your spare change while the rest of us... (Logan Herald Journal, UT)
Zimbabwe: Mugabe, Tsvangirai Battle Hots Up Mar 1, 2009
Mugabe also said he would soon meet Finance minister Tendai Biti to discuss, among other things, whether or not to adopt the rand as legal tender, which he is opposed to. He also said he was opposed to paying civil servants in foreign currency because the country was generating little hard currency and proposed reforms to make the Zimbabwe dollar strong. (allAfrica.com)
Colonial Revival in Panama City's Casco Viejo Feb 28, 2009
With its mix of the eco (dense tropical rain forests), urban (a Miami-like skyline) and aquatic (crystalline diving sites), Panama is an all-in-one destination where the dollar is legal tender and still manages to go a long way. Related. (Time.com)
The stimulus Feb 27, 2009
The government must immediately abolish the Federal Reserve, all legal tender laws, and all taxes on precious metals. This will allow the market to divest itself before the inevitable dollar collapse and find a medium of exchange they can trust. (Atlanta Journal-Constitution -- Opinion)
CVS settles woman's lawsuit over taxes Feb 24, 2009
CVS' computer system was reading the government vouchers as legal tender rather than a coupon, spokesman Mike DeAngelis said yesterday. "As soon as we were made aware of the problem, we corrected it," he said. (Pittsburgh Post-Gazette, PA)
Rate cut rumours rise Feb 23, 2009
Mboweni dismissed talk that Zimbabwe would adopt the rand as legal tender, saying that neither the country's central bank nor finance minister had approached him on the issue. "I have read about it in the newspaper. No one has approached me for a discussion about it ... as far as I am concerned it is a rumour," he said. (iAfrica.com)
Rand shrugs off plan for 'common currency' Feb 22, 2009
The governor said yesterday that the Reserve Bank had not been formally approached about the proposal to adopt the rand as legal tender in its northern neighbour. "We have not been approached at the Reserve Bank," Mboweni said. (Business Report, South Africa)
Zimbabwe: Remittances Saved the Country From Collapse Feb 21, 2009
Harare The official sanctioning of foreign currency as legal tender in Zimbabwe to tackle hyperinflation is bringing into sharp relief how remittances have staved off the country's complete collapse in recent years. Before Robert Mugabe's government officially endorsed foreign currency, long queues would form outside banking halls to exchange foreign bank notes for Zimbabwean dollars, but since the use of foreign currency has been permitted the queues have shifted to commercial banks, where... (allAfrica.com)
Rand weakens Feb 20, 2009
Speaking in Johannesburg on Thursday night Mboweni said that it appeared all the talk of the rand becoming legal tender in Zimbabwe was a rumour as neither he nor the finance ministry had been approached in this regard. "As far as I'm concerned, it's a rumour," he said. (iAfrica.com)
Public reluctant to accept One Pesewa coin Feb 13, 2009
In few instances, some people even refuse to accept the One Pesewa coin as legal tender, a situation which requires prompt action from authorities to step up education to drum home the fact that irrespective of its value, the coin remains a legal tender. Some people who spoke to the GNA advocated the withdrawal of the coins from circulation, saying its continuous use as a medium for the transaction of business might create problems. (Ghana Web, Ghana)
Biti gets key ministry Feb 11, 2009
It was once considered the breadbasket of southern Africa, but now suffers some 90% unemployment, while the government has stopped releasing inflation figures and recently said that foreign currency could be used as legal tender. Truth and reconciliation. (BBC News -- Africa)
