Deflationary populism Oct 19, 2009
A person would burn paper money only if they felt it was worthless. I suspect those adherents of a new populist movement, after watching attempts to grow the economy through deficit spending, subsidizing risky mortgages to pump prime the housing market and creative, dishonest financing so the Feds could spend billions on wars and farm subsidies and give out funds to other favored interest groups are not going to demanding a 16-to-1 ratio of silver coinage to gold. (The American Conservative)
Politics shape the Supreme Court Oct 13, 2009
Atkinson said Lincoln was concerned with two areas: slavery and paper money. Chase's ideals fit with Lincoln's, yet Chase voted against the Legal Tender Act to Lincoln's disappointment. (University News, MO)
Why Investors Should Bet Against the Dollar Oct 13, 2009
Then again, the hypothetical Martian would also scratch his head at the notion of paper money. The dollar has no intrinsic value. (Time.com)
76 Comments Oct 10, 2009
He has printed more paper money and put the country farther in debt faster than anyone before him. He has apologized for everything the U.S. has ever done, because the country is so "bad", and has been steadily pushing us toward socialism, among other things. (KWTX.com, TX)
ARABS PLOT TO DROP DOLLAR Oct 6, 2009
Legend has it that it was British counterfeiting that did for that kind of paper money. Guess what - it was government printing wut done it. (The Drudge Report)
Honor China, Not Its Communism Oct 5, 2009
China's 6,000-year-old history and civilization are loaded with things to celebrate from its invention of paper money and fireworks, to its great cuisines, its Taoist philosophy, the daring historic voyages of Sanbao (a possible model for Sinbad), millions of Overseas Chinese, and perhaps the awed arrival of Marco Polo into the Middle Kingdom, which ignited the Age of Exploration. Much of the story of civilization is rooted in the West's longing to connect with China and this is not a finished... (Investors Business Daily)
BYU-I president criticizes stimulus Oct 2, 2009
You are right I have no idea that its article 1 Section 8 that specifically gives Congress the "power to coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures;"I also wouldn't know that Joseph Smith said," I have examined the constitution upon this subject and find my doubts removed... The Constitution tells us what shall not be a lawful tender. The 10th section declares that nothing else but gold and silver shall be lawful tender....(Joeseph... (Rexburg Standard Journal, ID)
IMF beats gold-auction drum Oct 2, 2009
When the faltering of paper money looms large on the horizon, his first thought of an alternative is not gold ... Not to see the life-and-death struggle of the managers of global paper money fighting gold - the stern taskmaster of all banks, real or virtual, and of all governments - is tantamount to turning a blind eye to reality. (Asia Times Online)
Police: Thieves fond of stealing from dozens of Walmart cash registers hit two in Boynton Beach area overnight Sep 30, 2009
The men pried open a cash register in the garden section of the store at 4545 Hypoluxo Road about 7:45 p.m., pocketing the paper money but not the coins before fleeing in a dark-colored SUV, Palm Beach County sheriff's spokeswoman Teri Barbera said. The men are believed to be in their 20s. (The Palm Beach Post)
Wealth of ideas Sep 25, 2009
Basically, Money Origami (sometimes called Dollar Bill Origami because of its popularity in the United States) is the art of folding paper money into creative designs, and is very similar to traditional origami, except that because of the shape and texture of money, sometimes different techniques are required to get the job done. Plus, since dollar bills come precut, you only have your basic rectangle to begin with. (The Star Online, Malaysia)
Granddad, Investment Banking Is Dirty, Dangerous Sep 24, 2009
When China took control of all global financial activities, the world decided to go back to something called the gold standard, which meant paper money, like the dollar bill in that hologram, became a true store of value, rather than a confidence trick. . (Bloomberg -- Columnists)
Don't swallow, save! Sep 23, 2009
Paper money is worth more than coins. Money can be saved and saving should be a habit. (iAfrica.com)
Laguna Meth Interview Sep 23, 2009
When paper degrees saying you have knowledge and paper money backed by criminals are put on a higher level of priority than love, enlightenment and evolution/progress, society begins to rot and stagnate. When punishment usurps understanding and millions of good people are labeled criminals by the true criminals. (Suite101.com)
LETTER: Hypothetical example could be alarming Sep 23, 2009
Would he take advantage of a crisis in the financial market to stabilize it from potential collapse by firing some CEOs, limiting bonuses of others, and printing paper money with no real value and then tell everyone that it s to stimulate the economy. Would he lower interest rates to an unnatural level in the audacious hope of encouraging people to borrow and banks to lend (like that s not what had created the mess). (Mattoon Journal-Gazette, IL)
"We need new banks" Sep 18, 2009
Why doesn't depreciation of this scale shatter confidence in paper money. It's simple: Because paper money is so easy to use ... It's the price we pay for having a system of paper money. (Salon)
End the Fed -- A Preview Sep 17, 2009
The story can be said to begin in 1775, when the Continental Congress issued paper money called the Continental. The currency was inflated to the point of disaster, the first great hyperinflation in U.S. history, and it gave rise to a hard-money school of thought that would agitate against central banking and paper money for generations ... It also explains why the Constitution placed a ban on paper money and permitted only gold and silver. (The American Conservative)
UN wants new global currency to replace dollar... Sep 9, 2009
use the paper money you now have to buy what you need such as food ammunition, clothing, medical supplies, etc. while it still holds some value and you can still use it. (The Drudge Report)
Can Bernanke earn financial canonisation? Sep 7, 2009
Until then, the only circulating paper money was notes issued by banks ... It was at once a loan to the government without interest and a national currency, which was so much needed for disbursement in small sums during the pressing exigencies of the war,'' he wrote years later in his book, History of the Legal Tender Paper Money ... Contrary to Morrill's expectations, paper money did not set off sharp inflation over time, and when the paper money eventually was made convertible into gold, there... (Sydney Morning Herald -- Business)
Local news briefs Sep 5, 2009
Collectors will buy and sell U.S. and foreign coins, ancient coins, gold and silver, paper money, Confederate money, supplies for the collector, books, Civil War and other historic documents and jewelry will be bought and sold by dealers (all of them primarily coin dealers) from several states. Admission into the coin show is free. (Paragould Daily Press, AR)
Paying respect to roaming spirits Sep 2, 2009
Like Wan, Lim said the month was one to show respect for all the spirits that roamed the earth, and paper money was burned to appease them, especially those that had no next-of-kin to do so. Lim said although the dos and donts were not observed as strictly these days, there were still a few rules that people adhere to. (The Star Online, Malaysia)
Bias against innovation Sep 2, 2009
Paper money is a boon, but when unsupported by bullion is all too easily devalued. Insurance is essential to modern life, but involves moral hazard whereby a safety net encourages people to indulge in more risky behaviour. (FT.com -- Markets)
James Murdoch condemns 'chilling' expansion of British state broadcaster... Aug 30, 2009
paying twice on sky for total dross just cancelled my times paper money saveing,one year new laptop,this is murdochs big problem. terence sullivan on August 30, 2009 at 07:50 AM. (The Drudge Report)
Over-exposed Aug 22, 2009
But it turns out that "Law of Easy Money" was just a clever play on words, and was the story of how John Law talked France's king, Louis XIV, who had borrowed and spent France to bankruptcy, into letting him start a bank and force everyone to pay their taxes with a new kind of paper money that Mr Law's bank would create and, soon enough, loaning more gigantic supplies of paper money to finance the development of the king's colonies in the New World, a fiasco now known as the Mississippi Bubble,... (Asia Times Online)
TEXT OF BERNANKE'S SPEECH: Reflections on a year of crisis Aug 22, 2009
Given the improvement in short-term markets brought about by the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF), the CPFF, and the Treasury guarantee of money market funds, the MMIFF never had to be tapped. Nonetheless, market participants reported that the facility's existence helped reassure investors that ample liquidity would be available in case of further disruptions in the money markets. (USA Today -- Money)
Teezers jilted with fake $50 Aug 21, 2009
After doubting its authenticity, Ellingson tested it with a marker that indicates whether U.S. paper money is real or fake. The ink from the marker turned a dark color on the paper bill indicating a counterfeit. (Madison Daily Leader, SD)
Study finds traces of cocaine on dollars Aug 20, 2009
The bits of cocaine on most bills was so small that consumers shouldnt have health or legal concerns over handling paper money, Zuo said. Some drug amounts ranged from several thousand times smaller than a grain of sand to about 50 grains of sand. (The Clarion-Ledger)
Inflation craziness Aug 19, 2009
This is so dangerously preposterous that one's hands shake in fear and paranoia at the calamity that awaits a nation that takes such ridiculous advice, and there is nothing to be done except to buy more gold, silver and oil, as the last 4,500 years of history have proven that these are the things that have lasting value, unlike the bitter disappointment and dismay of paper money and "true love". Obviously, people do not have to be around me very long before they learn that I am perpetually... (Asia Times Online)
90 percent of U.S. bills carry traces of cocaine Aug 19, 2009
Research presented this weekend reinforced previous findings that 90 percent of paper money circulating in U.S. cities contains traces of cocaine. "When I was a young kid, my mom told me the dirtiest thing in the world is money," said the researcher, Yuegang Zuo, professor of chemistry and biochemistry at the University of Massachusetts Dartmouth. (CNN -- Health)
Now thats high finance Aug 18, 2009
Cheryl Ravelo / ReutersScientists have known for years that paper money can become contaminated with cocaine during drug deals and directly through drug use, such as snorting cocaine through rolled bills ... Traces of cocaine taint up to 90 percent of paper money in the United States, a new study finds ... Scientists have known for years that paper money can become contaminated with cocaine during drug deals and directly through drug use, such as snorting cocaine through rolled bills. (MSNBC -- Business)
In the Beginning... Introducing the Origins Issue Aug 18, 2009
Whether related to rainbows, antibiotics or paper money, beginnings and the stories they generate serve as an endless source of fascination about the world around us. More Origins Coverage. (Scientific American)
Origins: The Start of Everything Aug 18, 2009
Paper Money A substitute for coins turned into a passport for globalization. The Vibrator One of the first electrical appliances made its way into the home as a purported medical device. (Scientific American)
Johnny Can't Write Aug 18, 2009
Paper money replaces gold, vice virtue. Sociology replaces merit, earmarks candor. (The American Conservative)
Cocaine on Money: Drug Found on 90% of U.S. Bills Aug 17, 2009
The drug gets on paper money during drug transactions and when people roll bills to snort cocaine powder, Zuo said. Stress spurred by the worldwide financial crisis may be driving people to abuse cocaine, one of the most common illegal drugs in the world, Zuo said in a phone interview. (National Geographic)
Cocaine Contaminates Majority of U.S. Currency Aug 17, 2009
"The examination of cocaine contamination on paper money can provide objective and timely epidemiological information about cocaine abuse in individual communities," Zuo argues. What might be more surprising is the fact that the percentage of contaminated bills seems to be rising; just two years ago, Zuo did a similar study that found cocaine on only 67 percent of banknotes in Massachusetts. (Scientific American)
Buttonwood: Law of easy money Aug 17, 2009
Law s insight was that economic activity could be boosted by the use of paper money that was not backed by gold and silver ... He also believed, having observed the success of the Dutch in exploiting the spice trade in the East Indies, that France could use paper money to develop its colonial possessions ... So a vicious circle was created, in which a growing money supply was needed to bolster the share price of the Mississippi company and a rising share price was needed to maintain confidence... (The Economist)
House Approves $2 Billion More for 'Cash for Clunkers' Program Aug 16, 2009
he will soon be our version of Mugabe, printing paper money in the zillions until it is worthless. I am sorry I voted for him. (ABC 7 News, DC)
* MORAKOT: THE AFTERMATH: Friends, families hold rituals for Morakot victims Aug 16, 2009
Survivors walked back and forth across the bare ground, stopping to light incense sticks and burn paper money for the dead. A monk rang a small bell, which people believe will help the souls of the dead find their way home. (Taipei Times, Taiwan)
Taiwan's president apologises for slow response as death toll rises to 123 Aug 15, 2009
" a woman wailed outside the flattened Hsiaolin village in footage broadcast on private cable news channel ETTV. Mourners laid out slippers, poured rice wine and burned paper money to comfort the dead. "Come back. Come back. (Channelnewsasia.com)
Taiwan mourners hold memorials for typhoon dead Aug 15, 2009
Mourners laid out slippers, poured rice wine and burned paper money to comfort the dead. "Come back! Come back!" an old man cried, tears streaming down his cheeks. (Yahoo! Asia News)
Summer food drive boosts local pantries Aug 14, 2009
Staff photo by Max Bowen. Old Saint Nick made a stop by Epoxy Technology to see the over 1,000 pounds of food collected by businesses at Manning Park during its Christmas in July food drive. (Billerica Minuteman, MA)
Bank on inflation Aug 14, 2009
Puru Saxena of Saxena Wealth Management notes, "It is interesting to note that only 160,000 tons of gold has ever been mined from the face of this planet and at US$950 per ounce, it is worth US$4.9 trillion. Now, consider that the total amount of paper money in circulation (currencies, savings, deposits, money-markets and certificates of deposit) is worth US$60 trillion, or approximately twelve times the value of the gold in existence." Wow ... The way I am screaming hysterically that everyone... (Asia Times Online)
Kiwanis hope quarter auction will be success for Wellness Center Aug 12, 2009
A table will be at the auction where you can buy quarters for paper money or checks or you can pay $20 for an "All In" token, which makes you an automatic bidder on every item being auctioned. During the quarter auction participants will be served a buffet dinner and a bucket will be featured in the middle of every table. (Harlan Tribune, IA)
Off Road Antique Show' coming Aug. 15 Aug 12, 2009
Bob Norman is most knowledgeable in paintings, art restoration and antiques, Bob Keller in gold and silver coins, tokens and some paper currency and Bill Taylor in paper money, hard time tokens and gold and silver coins. Because this is such a unique opportunity to see what the treasures are worth, Main Street asks for a limit of two items per person and to pay a fee of 3 per item. (Fort Madison Daily Democrat, IO)
LETTER: Some 'upbeat thoughts' to brighten the day Aug 11, 2009
It s not costing anything, really, to print up another trillion dollars worth of paper money, is it. Just the cost of the paper, ink, and time of those in charge. (Mattoon Journal-Gazette, IL)
Shayne Looper: The dangerous devaluation of religious language Aug 11, 2009
Words can suffer from inflation, much like paper money. When a government prints currency that has no basis in real wealth, every dollar printed has the effect of devaluing all the others. (Belmont Citizen Herald, MA)
The Greatest Drunk on Earth, Richard English, Modern Drunkard (2006) Aug 5, 2009
Dusty threw a handful of paper money at one driver while Andre hauled the other from his seat with one hand. While one driver cursed and the other scrabbled around on the ground collecting his windfall, Andre and Dusty thundered off in the carriages. (Harper's Magazine)
End the Fed? A not-so-crazy idea. Aug 4, 2009
Until 1907, prominent reformers favored simply abolishing Civil War-era restrictions on banks' freedom to issue notes and allowing all banks to branch nationwide to ease the mopping-up of unwanted paper money. They drew inspiration from Canada, where a similar "asset currency" arrangement had been working smoothly for decades. (Christian Science Monitor)
Country profile: China Aug 3, 2009
Many of the elements that make up the foundation of the modern world originated in China, including paper, gunpowder, credit banking, the compass and paper money. After stagnating for more than two decades under the rigid authoritarianism of early communist rule under its late leader, Chairman Mao, China now has the world's fastest-growing economy and is undergoing what has been described as a second industrial revolution. (BBC News -- Asia-Pacific)
Nanotubes May Reach A Meter Long Jul 30, 2009
Last year, Hauge and colleagues found they could make compact bundles of nanotubes starting with the same machinery the U.S. Treasury uses to embed paper money with unique markings that make the currency difficult to counterfeit. Hauge and his team -- which included senior research fellow Howard Schmidt and Professor Matteo Pasquali, both of Rice's Department of Chemical and Biomolecular Engineering; graduate students Pint and Sean Pheasant; and Kent Coulter of San Antonio's Southwest Research... (Science Daily)
Farewell from a foreign family at a traditional Chinese funeral Jul 29, 2009
When it was our turn to offer sympathies to the family we stopped at the local corner shop to buy a red envelope, (hongbao), and put some notes in to contribute to the funeral costs, as well as buying incense sticks and paper money ... We folded some paper money, set fire to it and placed it facing the altar, on the sandy floor, where it quickly turned to ashes. (Xinhuanet, China)
Two Shocking Silver Charts Jul 28, 2009
They decided it was easier to expand a nation's credit with fiat paper money than to mine more silver. Over time, governments sold off their silver stockpiles to industry and investors. (Townhall.com)
It'stime to revampthe Federal Reserve Jul 25, 2009
Following financial crises and suspension of convertibility by the Bank of England in 1797, David Ricardo called for strict central banking legislation that would restrain central bank ability to create costless paper money. His views were implemented in Great Britain under the Pearl Act in 1844 through establishing two separate departments in the Bank of England, namely an issue department that issued currency based on gold and a banking department that performed banking operations for the... (Asia Times Online)
Fiction upon fiction Jul 23, 2009
One can only be thankful ("Thank you!") for gold and silver, which have maintained their values for over 4,500 years when paper money, and most of the assets denominated in it, have all gone to zero value, a fact that should make you squeal with delight, "Whee! This investing stuff is easy!". Richard Daughty is general partner and COO for Smith Consultant Group, serving the financial and medical communities, and the editor of The Mogambo Guru economic newsletter - an avocational exercise to heap... (Asia Times Online)
Soh: I will let the past go Jul 23, 2009
Everyone then burnt paper money as an offering. Soh said she would be returning to Batu Pahat to stay with her own family on Sunday. (The Star Online, Malaysia)
Silverites versus Goldbugs Jul 21, 2009
It allowed the government to redeem its paper money in gold on or after January 1, 1879, a policy supported by big business. But it also called for silver coin to replace fractional currency (cent denominations). (Suite101.com)
A lonely death Jul 18, 2009
His opening statement routinely contained denunciations of communism, Congress, the federal reserve, paper money, and the weaklings who tolerated all four. That's a lot to shoehorn into a couple minutes. (Anchorage Daily News)
The empress, the eunuch and $4 billion Jul 17, 2009
At the very least, they say the 2006 will leaving her fortune to him was a ritualistic prop meant to be burnt, like paper money, as part of a traditional life-extending feng-shui ceremony. At worst, the company states, the will is an outright forgery. (Asia Times Online)
Misunderstanding the Meltdown Jul 16, 2009
But once central banking and irredeemable paper money are introduced into the picture, it is only in the most trivial sense that we can refer to a private banking system ... As we have seen, moral hazard is implied in the very existence of paper money ... To fight such behavior effectively, one must abolish paper money. (The American Conservative)
California nightmare Jul 15, 2009
I mean, the fiat currency of the USA has been so abused by over-issuance that it has lost about 96% of its purchasing power since the loathsome Federal Reserve took over in 1913, and is now about to be reprised by California issuing another paper money ... Paper money everywhere. (Asia Times Online)
Kill the Monster Jul 14, 2009
Since there is no physical limitation on paper money creation, market actors know the paper money producer can bail them out if things go terribly wrong. They have been vindicated in this belief time and again. (The American Conservative)
Treasure Hunters to dig in Montrose Jul 14, 2009
Paper Money: All denominations, both U.S. and foreign made before 1934. Gold Coins: Including 20, 10, 5, 2. (Montrose Daily Press, CO)
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)
Awash with cash Jul 14, 2009
And since it is too late to stop now, and since there are no solutions (since nobody in all of history has been able to find a solution to the problems of a malignant, distorted, big-government "services" economy choking on obscene levels of debt both public and private), then there is only one thing left to do if you are using a paper money; attempt the impossible again by again printing up more money. Hahaha. (Asia Times Online)
* Urumqi tense after riots Jul 13, 2009
Relatives are meant to go out into the streets to burn incense and paper money, helping lost souls of the deceased to find their way back home. But the government was apparently fearful this could ignite further unrest after thousands of Han took to the streets of Urumqi early last week wielding machetes, poles and other makeshift weapons vowing vengeance against Uighurs. (Taipei Times, Taiwan -- World)
China's ethnic groups struggle forward after riots Jul 13, 2009
Incense was lit and paper money burned at the funeral Sunday for a Han Chinese family _ a man, his wife and his parents, all killed in last week's ethnic riots ... Paper money was burned to honor the dead. (Mattoon Journal-Gazette, IL)
