Is it true that with the release of the new 'Crayola $20'

we in the US will be forced to use it, while overseas only the 'traditional greenbacks' will be accepted?

I would greatly appreciate any/all input on this this coming money 'change'. Thanks in advance.

http://www.gold-eagle.com/gold_digest_03/droke101003.html

on edit: took out one too many 'only's'

That logic is completely BS. The cash outside the US gets back to the US eventually, and if it's older rotten notes they get destroyed. The colored money WILL be used worldwide, and color-coding will come to the 50s and 100s next year and the 5s and 10s the year after that. Color coding is being implimented because:

1) It makes different denominations easier to recognize

2) It makes them harder to scan and photocopy as really unusual pastel tones and brighter colors are difficult to reproduce digitally

3) It brings the US into the 19th century with regards to the manufacture of banknotes :-)

and the US gov't is anticipating the dump.

with no further explanation... Simple. Effective.
:eyes:

This is someone selling gold.

They will say anything to do so!

but with the continuing devaluation of the dollar, our rising budget deficit, the clamp down on our liberties and civil rights, etc., etc. ....this just sort of seems like another logical 'shoe falling', but you know what a lot of ppl say about the folks around here :tinfoilhat:

is that the US Dollar has lost quite a bit against the Euro...

Devaluation is inevitable... the IMF said such, when the IMF
issues statemetns like this, some of us do pay attention.

it has nothing to do with any color change in American money. Sheesh!

...but when I lived in Hong Kong 10-15 years ago, CHINA (Hong Kong was not part of China then) had two forms of currencies. One was used by the 'common people in the mainland' and the other was used for 'international trade'. That's the type of thing this article is suggesting. Sheesh!

and everybody panics. Silliness.

:eyes:

Oh...yeah..."sheesh"...

the IMF is warning of a meltdown and it is not a warm
fuzzy

Only a small portion of the dollar transactions around the world, or inside the U.S. for that matter, are conducted with paper currency. If a two-tiered monetary system were ever put in effect, it certainly wouldn't be enforced by changing the color of the $20 bill!

in the "underground economy" (that's the black market to you and me) in the former Soviet Union, as well as in such industries as the ilicit drug industry. Those transactions use mostly 100s... and will use the newest cash available, which will starting in 2004 include colored 100s.

When the Dollar was changed to the present bill, the Russians and other holders of the old bills cashed them all in, on the fear that the US was about to disavow the older bills. The former USSR had done this a few years previously, printed new money than declared the old money no longer valid. Other countries had also disavowed their old currency on the printing of new bills, thus that was a big fear when the last change in the currency took place. The result was that almost all of the old bills were turned in for new ones as quick as the treasury could print them, and no one overseas wanted the older bills.

I see the same thing happening again, people who are holding dollars as cash will cashe dthem in (Through over the last five years most Russians have followed thier Government and converted over to the Euro, so the affect will not be as drastic as what happen last time)

A lot of tin-foil hat sites and radio, have been talking about this for some time.-supposedly there are RFID chips in these new twenties

I'm more worried about OPEC 's sept 24 decesion not to accept The US Dollar for crude after 12/31/03

and the russia decision about the euro

If oil transactions are conducted in Euros...the US economy will tank.
It will be worse than the great depression...and nobody can argue against that.