Results 1 to 3 of 3
#1 The story behind large denomination currency!01-12-2010, 09:33 PM
The day is coming when this is the cost of a loaf of bread! :eek::D
This was real at one time but this was the reason;
Your local convenience store may not accept bills larger than $20, but once upon a time you could have paid for your gum with a nice fresh $10,000 bill. What’s the story behind the large-denomination bills that the government used to issue?
Why on earth was the government printing such giant bills in the first place?Believe it or not, it wasn’t just to save space in fatcats’ wallets. When the Treasury started printing these giant bills, their main purpose was making transfer payments between banks and other financial institutions. Before sophisticated wire transfer systems were fully developed, it was apparently easier and safer just to fork over a $5,000 bill to settle up with a fellow bank. Once transfer technology became safer and more secure, there really wasn’t much need for the big bills anymore.
What’s the largest denomination of currency the U.S. has printed?
That would be the Series 1934 $100,000 gold certificate. The Bureau of Engraving and Printing only made these notes during a three-week stretch during December 1934 and January 1935. Even the few plutocrats who had that much cash during the Depression couldn’t carry one of the $100K bills, though. They were only used for official transactions between Federal Reserve Banks, and the Treasurer of the United States only issued them to Fed banks that had an equal amount of gold in the Treasury. The note featured a picture of Woodrow Wilson.
: “Grow your own dope. Plant a liberal.”
” Obummercare, 20 percent of the time it works everytime.
01-12-2010, 09:37 PM
I'm gonna get me some of that free Obama money!
|« Previous Thread | Next Thread »|