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Thread: Our Different Currency

  1. #11
    Senior Member Franco's Avatar
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    Quote Originally Posted by MooseGooser View Post
    That is interesting..

    I didnt know that ....

    I do collect any Siver and othe coinage bills I come across. I have a few...

    Here is what I understood the red seal to be.

    Notice the dates in the last paragraph.

    The Story of Red Seal, United States Bank Notes
    by Stan Klein


    The United States government got into the paper money business by necessity, a way of financing the Civil War through money creation known as fiat money. Congress authorized Legal Tender Notes by the Acts of July 17 and August 5, 1861 (first day of issue). They were colloquially called "Greenbacks" due to their mono-green coloring on the note backs and "Demand Notes" since the first issue notes were redeemable for specie (gold and silver coins) on demand. When specie redemption was suspended on December 21, 1861 the value of these notes began to fall in terms of federal coinage. The public soon accepted the currency on faith that the new U.S. government money would sustain its value in commerce. At the same time, coinage, including copper coins, were rapidly disappearing from circulation
    The 2nd issue bears the date March 10, 1862 and is the great-grandfather of the small size legal tender notes with red seals and red Treasury seal that are still occasionally seen today. All bank notes have an obligation that tells the user how the note may be used. The first obligation of Legal Tender notes states "This note is legal tender for all debts, public and private, except for dues on imports and interest on the public debt, and is exchangeable for U.S. six-percent, twenty-year bonds, redeemable at the pleasure of the United States after five years." This was soon replaced by an obligation sans the reference to bonds, although it was "receivable in payment of all loans to the United States". The currency was money by government decree.
    Though the public looked askance at the new currency, Legal Tender notes continued to be issued in denominations of $1, $5, $10, $20, $50, $100, $500, $1000, $5000 (1878 only) and $10,000 (1878 only) long after the Civil War ended. It wasn't until 1865 that gold certificates were issued and not until 1886 that redeemable paper money in the form of Silver Certificates, and then later, Coin Notes, were issued. Legal Tender issues continued with their characteristic red Treasury seal and label of "Legal Tender Note" or "United States Note."
    By the 1920's, the Treasury Department launched a cost saving measure by reducing the physical size of the currency. Legal Tender notes continued to be issued but only in denominations of $1 (series 1928 only), $2 (1928, 1953, 1963), $5 (1928, 1953, 1963) and $100 (series 1966 only). The 1966 $100 note was the last issue of Red Seal notes and was used to satisfy the Act of May 31, 1878 requiring that $346,681,016 of Legal Tender notes always be in circulation. This figure was technically a percentage of all currency types in circulation in 1878. The Act requiring Legal Tender notes was finally discontinued in 1986. Of the small size Red Seals the series $1 note has an interesting history. It was printed in April and May of 1933 but most were released only in Puerto Rico in 1948.
    Today there is a dwindling supply of Legal Tender notes in circulation. As they are redeemed for Federal Reserve Notes, the notes are returned to the Treasury for destruction. Only collectors and dealers have preserved these interesting notes for posterity.
    Remember that it was Pres. Nixon (R) that did away with the Gold Standard and started our modern day monetary policy of fiat money. That being where the value of the dollar was not determined by the Free Market but instead by the Federal Reserve. By 1986 Pres Reagan's (R) policy of deficit spending, where he stated, "deficit spending doesn't mean anything" and our huge deficit created at the time was the end of the Gold (red seal) currency. Though they are still in circulation, just much harder to find than the green seals.

    It is the Feds manipulation of the dollar which has caused most of our financial mess at the benefit to international bankers. By supporting and creating Fiat money, they make huge profits in the massive fluctuation on the value of the dollar and makes the dollar much more capable of being worthless since it isn't backed by anything other than our corrupt monetray poilicy/Fed Reserve. As international bankers continue to drain our financial wealth into their pockets the dollar will continue to devalue.
    Last edited by Franco; 12-28-2012 at 09:12 AM.
    “The end of democracy and the defeat of the American Revolution will occur when government falls into the hands of lending institutions and moneyed incorporations.” –Thomas Jefferson

  2. #12
    Senior Member BonMallari's Avatar
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    Quote Originally Posted by M&K's Retrievers View Post
    They don't look like the two Bens I have in my pocket. "The United States of America", "Federal Reserve Note" and "One Hundred Dollars" are in different locations. The serial numbers are reversed as well. In fact, there are a butt load of differences.

    I used to carry at least one in my money clip,sometimes more if the money was good, and sometimes just to stroke the ego,plus the fact that they are so commonplace here in Vegas...UNTIL one trip to Idaho when I inadvertantly pulled out a C note to pay for a meal,and the vendor replied "...where the heck do you think you are, Las Vegas ? "

    now that I no longer drive a suburban where a $100 bill might get you 3/4 of a tank (except in Evanston Wyoming, where I got change back once)..I will usually carry a $50 or two nowadays, since they are easier to use, but still hurts when I use them
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  3. #13
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    Quote Originally Posted by BonMallari View Post
    I used to carry at least one in my money clip,sometimes more if the money was good, and sometimes just to stroke the ego,plus the fact that they are so commonplace here in Vegas...UNTIL one trip to Idaho when I inadvertantly pulled out a C note to pay for a meal,and the vendor replied "...where the heck do you think you are, Las Vegas ? "

    now that I no longer drive a suburban where a $100 bill might get you 3/4 of a tank (except in Evanston Wyoming, where I got change back once)..I will usually carry a $50 or two nowadays, since they are easier to use, but still hurts when I use them
    Break 'em and they are gone. Doesn't matter what size.
    Last edited by M&K's Retrievers; 12-28-2012 at 10:49 AM.
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    Senior Member dback's Avatar
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    Quote Originally Posted by Franco View Post
    Remember that it was Pres. Nixon (R) that did away with the Gold Standard and started our modern day monetary policy of fiat money. That being where the value of the dollar was not determined by the Free Market but instead by the Federal Reserve. By 1986 Pres Reagan's (R) policy of deficit spending, where he stated, "deficit spending doesn't mean anything" and our huge deficit created at the time was the end of the Gold (red seal) currency. Though they are still in circulation, just much harder to find than the green seals.

    It is the Feds manipulation of the dollar which has caused most of our financial mess at the benefit to international bankers. By supporting and creating Fiat money, they make huge profits in the massive fluctuation on the value of the dollar and makes the dollar much more capable of being worthless since it isn't backed by anything other than our corrupt monetray poilicy/Fed Reserve. As international bankers continue to drain our financial wealth into their pockets the dollar will continue to devalue.
    Franco.....I'll not defend Nixon or 'international bankers' but your disdain for the Republican party by highlighting (R) exposes your foolish attitude. It is not (nor has it ever been) as simple as R vs D and suggesting "L"s have all the answers is childish. You fail to mention factors like the London Gold Pool collapse, Bretton Woods, the "gold window", apartheid South African gold and communist USSR gold, De Gaulle sending the French Navy in 1965 to take $150 million in gold when the dollar was pegged at $35.00 an ounce with plans to follow with another $150 million.....Spain followed with an additional $60 million. To quote author James Richards....."at the time represented significant drains on U.S. gold reserves." There are entire volumes written on the subject and not a single one has only one chapter..........."Hmmmmmm, (R) = Bad". Try "fair & balanced" for a change Franco.

    I wish we had the pre-2010 Franco back.....'unrequited love' seems to turn some good folks into a "crashing bore".
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    Quote Originally Posted by dback View Post
    Franco.....I'll not defend Nixon or 'international bankers' but your disdain for the Republican party by highlighting (R) exposes your foolish attitude. It is not (nor has it ever been) as simple as R vs D and suggesting "L"s have all the answers is childish. You fail to mention factors like the London Gold Pool collapse, Bretton Woods, the "gold window", apartheid South African gold and communist USSR gold, De Gaulle sending the French Navy in 1965 to take $150 million in gold when the dollar was pegged at $35.00 an ounce with plans to follow with another $150 million.....Spain followed with an additional $60 million. To quote author James Richards....."at the time represented significant drains on U.S. gold reserves." There are entire volumes written on the subject and not a single one has only one chapter..........."Hmmmmmm, (R) = Bad". Try "fair & balanced" for a change Franco.

    I wish we had the pre-2010 Franco back.....'unrequited love' seems to turn some good folks into a "crashing bore".
    Thank You! It's nice to have an adult post on occasion .

    I was in MT when the country stopped minting Silver into coins. Though MT used silver dollars almost exclusively (they wore out a lot of pockets) they were gone from circulation within a very short time, like less than a week! Still have several of those, some $1 silver certificates & several $2 bills laying around.
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  6. #16
    Senior Member Franco's Avatar
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    Quote Originally Posted by dback View Post
    Franco.....I'll not defend Nixon or 'international bankers' but your disdain for the Republican party by highlighting (R) exposes your foolish attitude. It is not (nor has it ever been) as simple as R vs D and suggesting "L"s have all the answers is childish. You fail to mention factors like the London Gold Pool collapse, Bretton Woods, the "gold window", apartheid South African gold and communist USSR gold, De Gaulle sending the French Navy in 1965 to take $150 million in gold when the dollar was pegged at $35.00 an ounce with plans to follow with another $150 million.....Spain followed with an additional $60 million. To quote author James Richards....."at the time represented significant drains on U.S. gold reserves." There are entire volumes written on the subject and not a single one has only one chapter..........."Hmmmmmm, (R) = Bad". Try "fair & balanced" for a change Franco.

    I wish we had the pre-2010 Franco back.....'unrequited love' seems to turn some good folks into a "crashing bore".
    Well, I know it distrubes many when (R) are pointed out as having faults as many here think they are perfect! The reality is that both parties are at fault as I have continuelly pointed out. Also, that things will not improve as long as the American voter buys into the policies of the Dems and Repubs as neither party offers anything real in terms of solutions. To ignore the fact that our economy and dollar are in trouble is to live in denial.

    Had we stayed true to Gold as the backing of the dollar we would be in much better shape today because Gold has true value and not our Fed Reserve. Just think of what one could buy today with the dollar had it not been so raped by politicains and bankers! The Fed reserve attempting to palce a value on the dollar and determing what our money is worth is financial suicide. As Rand Paul so eloquently stated, "The USSR collapsed because they could not determine the price of bread and we are on the verge of collapse because we can not determine the value of our money". The Gold Standard would prevent this country from running up huge Deficits as we have to today.

    Artificial manipulation of our currency by our political appointees to speculate on the value of the dollar is a disasterous policy. The value of the dollar should always be determined by a Free Market and nothing else. That is, if we want a future for the dollar!

    Last edited by Franco; 12-28-2012 at 04:13 PM.
    “The end of democracy and the defeat of the American Revolution will occur when government falls into the hands of lending institutions and moneyed incorporations.” –Thomas Jefferson

  7. #17
    Senior Member M&K's Retrievers's Avatar
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    Quote Originally Posted by franco View Post
    well, i know it distrubes many when (r) are pointed out as having faults as many here think they are perfect! The reality is that both parties are at fault as i have continuelly pointed out. Also, that things will not improve as long as the american voter buys into the policies of the dems and repubs as neither party offers anything real in terms of solutions. To ignore the fact that our economy and dollar are in trouble is to live in denial.

    Had we stayed true to gold as the backing of the dollar we would be in much better shape today because gold has true value and not our fed reserve. Just think of what one could buy today with the dollar had it not been so raped by politicains and bankers! The fed reserve attempting to palce a value on the dollar and determing what our money is worth is financial suicide. As rand paul so eloquently stated, "the ussr collapsed because they could not determine the price of bread and we are on the verge of collapse because we can not determine the value of our money". The gold standard would prevent this country from running up huge deficits as we have to today.

    Artificial manipulation of our currency by our political appointees to speculate on the value of the dollar is a disasterous policy. The value of the dollar should always be determined by a free market and nothing else. That is, if we want a future for the dollar!
    zzzzzzzzzzzzzz
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  8. #18
    Senior Member Franco's Avatar
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    Quote Originally Posted by M&K's Retrievers View Post
    zzzzzzzzzzzzzz

    I am well aware that you and most of the public are asleep, that's why we have the leadership we do.
    “The end of democracy and the defeat of the American Revolution will occur when government falls into the hands of lending institutions and moneyed incorporations.” –Thomas Jefferson

  9. #19
    Senior Member MooseGooser's Avatar
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    I always want to put Franco on my Ignor list,, but I like things he says some of the times;0


    I have spent some of this morning reading about thi "red "seal"
    I honestly didnt know this..
    It is very interesting.

    here is another link..

    http://theeconomiccollapseblog.com/a...comment-page-1
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  10. #20
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    Quote Originally Posted by Franco View Post
    Well, I know it distrubes many when (R) are pointed out as having faults as many here think they are perfect! The reality is that both parties are at fault as I have continuelly pointed out. Also, that things will not improve as long as the American voter buys into the policies of the Dems and Repubs as neither party offers anything real in terms of solutions. To ignore the fact that our economy and dollar are in trouble is to live in denial.

    Had we stayed true to Gold as the backing of the dollar we would be in much better shape today because Gold has true value and not our Fed Reserve. Just think of what one could buy today with the dollar had it not been so raped by politicains and bankers! The Fed reserve attempting to palce a value on the dollar and determing what our money is worth is financial suicide. As Rand Paul so eloquently stated, "The USSR collapsed because they could not determine the price of bread and we are on the verge of collapse because we can not determine the value of our money". The Gold Standard would prevent this country from running up huge Deficits as we have to today.

    Artificial manipulation of our currency by our political appointees to speculate on the value of the dollar is a disasterous policy. The value of the dollar should always be determined by a Free Market and nothing else. That is, if we want a future for the dollar!
    Might even disturb a few...
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