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I have not seen this on here before and my apologies if it has been.

This is scary stuff.

Click the link below:

http://www.unp.me/f44/representation-of ... ls-159327/

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Tempus fugit

If a family lives beyond their means year after year and then gets rescued by Dad or goes bankrupt we all just shrug and carry on , wont happen to me etc.

While we were all not looking or just did not bother to look it has happenned to not only US but heaps more countries , there is no Dad to rescue a country , so guess where its heading , or dont you see or want to see that either .

We were all happy to let the poor Asians work away at shirts shoes etc for 20c per hr or less , and again while we werent looking they commenced to make every machine known to Man at half price , yes we went for that in a big way and ceased to make a damn thing ourselves , guess who has the money now.

Who?

Huanga.

China is holding a trillion dollars of US government bonds. Their inextricably linked to what happens to the US government and economy now. If the US sinks, and their currency is dragged down, its the Chinese central bank who loses big-time.

I remember from a newspaper story awhile ago that China's foreign currency reserves in Q4 2010 or Q1 2011, don't remember exactly, increased by 80-odd billion dollars. That was put into perspective by the writer when they pointed out that that increase, in 3 months, was the same figure as Malaysia's entire foreign currency reserves.

The size and scale of everything in China--population, wealth--can be hard to grasp. Hence everyone with anything to sell, from luxury cars to insurance to refrigerators--has been pushing to get into the China market for years. But just as staggering a statistic is that something like 600m people there are still peasants.

Furthermore, its a "race to the bottom" when it comes to manufacturing--companies all chase after the lowest possible cost of production.First it was "shift production to China, they work for a fraction of American workers".

Now its reached a new point, where a lot of the managers of factories based in the east-coast region of China are saying wages there are "too high" and are migrating their factories further inland, where they can find cheaper workers. As it is, typical salary of a factory worker, about $800USD a month.

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Collecting Mongolia; Thailand; Indo-China; Mourning Covers; OHMS.
My online 'store': http://stampsfromaethelwulf.blogspot.com/

The article states the largest pile is a representation of what $100 million looks like.



I would say that the figure is a corrupt dictator of a developing nation; the largest pile of money is what he's carrying to Switzerland, with diplomatic immunity, to deposit in the bank; the middle pile is his wife's shopping spree money; the small bundle is his 'pocket money' for giving tips.

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Collecting Mongolia; Thailand; Indo-China; Mourning Covers; OHMS.
My online 'store': http://stampsfromaethelwulf.blogspot.com/

A trillion dollars.



According to the Nobel-prize-winning economist Joseph E. Stiglitz, 3 times this is what the US government has squandered on its Iraq meddling, plus associated future costs.

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Collecting Mongolia; Thailand; Indo-China; Mourning Covers; OHMS.
My online 'store': http://stampsfromaethelwulf.blogspot.com/

This is ancient history, the world has moved on and so has the global economy.

New milestones in fiscal management (and mismanagement) are being established daily, so any attempt by financially illiterate observers to comprehend the ever changing global scenarios amounts to zero.

If the economic gurus and the numerous self serving compliant governments can't get it right, what hope is there for the 'ordinary' punter.

Doesn't look much does it?

I've made a few visits to the US Bureau of Printing and Engraving in DC over the years, as it is very interesting.

You walk on an elevated glass enclosed walkway, over the whole operation.

There are large chest high PALLETTS of notes everywhere.

The Million in tenners is in the lobby. It is not very large. In $100s it would be the size of a box of copy paper.

I suppose you didn't by chance happen to obtain any Specimen mint items for 'research' purposes

They sell uncut sheets of many bills - even the 1976 $2 note in uncut sheets at face value which is pretty neat!

Are they still Legal Tender, if you cut them yourself

Well as long as you cut them pretty straight they would be!

I just checked - sadly they have started gouging ... charging quite a bit over face and typical Government lazy sods - are out of stock of $2 and $5.

How can a BUREAU OF NOTE PRINTING run out of banknotes?????????

http://www.moneyfactorystore.gov/uncutcurrency.aspx

Last time I checked they used to mail these to you in a tube for a few bucks - a great deal.

How does that stack up against importing foreign currency into Australia, as opposed to carrying foreign currency into Oz as a traveller ?

I can't remember the maximum limit allowed.

I seldom get to more than a few $100, but I think the legal Max you can bring in and NOT declare is $10,000.

I think if you tick "more than $10,000" it is legal. but you can bet the Feds and Taxman would hear about it!

I did that tour 20 years ago, and still remember that glass case of a million dollars. Apart from the stack of money, the box itself is quite impressive, the thick glass and bolted edges.

The tired old joke of the tour guide is "Sorry, we don't give out free samples on this tour."

I forget the statistic, but the vast majority of the printing they do is $1 notes, something like 80%. Since Americans refuse to use $2 notes, and hate the $1 coins the Mint keeps trying to put out...

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Collecting Mongolia; Thailand; Indo-China; Mourning Covers; OHMS.
My online 'store': http://stampsfromaethelwulf.blogspot.com/

Classic

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Collecting Mongolia; Thailand; Indo-China; Mourning Covers; OHMS.
My online 'store': http://stampsfromaethelwulf.blogspot.com/

The Philadelphia mint is an interesting place to visit if you've not been there and a fun place to take the kids. They used to give you a shiny, newly minted coin as part of the tour. There was also a statue of Ben Franklin made entirely of pennies http://www.jepsculpture.com/ben-pennyfranklin.shtml.

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"Making money is a hobby that will complement any other hobbies you have, beautifully." - Scott Alexander
I collect Souvenir Sheets postally used on cover, WW used stamps up to 1957 except everything of Brasil and Argentina.

Glen, the $2 note is no longer printed (a note indicated stocks should last to Spring 2011, obviously they sold out earlier than expected). So there won't be any more. The website notes that the first day of availability of the $5 is Dec 6 2011 (tonight our time).

You used to be able to buy new banknotes from Note Printing Australia (but not uncut sheets). Now they sell them through agents, with auctions for the early serial numbers in every year's printing.

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Peter
Hawthorn - AFL Premiers 1961, 1971, 1976, 1978, 1983, 1986, 1988, 1989, 1991, 2008.

Peter, I read the note as they simply do not have stocks on hand yet - Spring 2012 is still months away there.

The Bureau of Engraving and Printing is proud to present the Series 2003A $2 Uncut Currency Sheets bearing the signatures of U.S. Treasury Secretary, John W. Snow and U.S. Treasurer, Anna Escobedo Cabral.

The projected availability of $2 uncut currency sheets for the Public Sales Program is for Spring 2012. The time frame is an estimate and is subject to change.

Interesting, I rread that in exactly the opposite way to yourself. I read it that, at the time the note was made, it was anticipated that stocks of the $2 note would last till Spring 2012. On reflection, you are probably correct. Though, for some reason, I thought the $2 note was no longer a feature of the US circulating currency.

I guess the presses are rather busy printing $20, $50 and $100 and printing the lower values is a low priority.

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Peter
Hawthorn - AFL Premiers 1961, 1971, 1976, 1978, 1983, 1986, 1988, 1989, 1991, 2008.

This surprised me - they appear to be printing more than ever of the $2 Bills -

The most significant evidence of the $2 bill's reawakening would be that, in 2005 alone, 61 million $2 bills were printed by the U.S. Bureau of Engraving and Printing.

This is more than twice the number of $2 bills that were printed annually between 1990 and 2001.

http://en.wikipedia.org/wiki/United_States_two-dollar_bill

In Vegas you see little old lady's at the slot machines with a stack like that on the floor beside them

61 million $2 notes is a small drop in the ocean of overall currency printing in any one year, surely.

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Peter
Hawthorn - AFL Premiers 1961, 1971, 1976, 1978, 1983, 1986, 1988, 1989, 1991, 2008.

It is self evident they are not common, but they ARE current, and are used more widely than you may imagine.

Currency tracking

Over 2.1 million $2 bills are entered at the American currency tracking website Where's George?.[23]

A certain niche of site users have made the $2 bill their preferred denomination, and use it frequently.

I suspect senility is creeping in and I was confusing the discontinuance of the $2 note in Australia with the same in the USA.

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Peter
Hawthorn - AFL Premiers 1961, 1971, 1976, 1978, 1983, 1986, 1988, 1989, 1991, 2008.

Here is another money comparison picture. It is quite good too but not so visually compelling as stacks of money next to a building.

http://www.xkcd.com/980/