New $20 Note begins circulation today

(Jim Ley) wrote in message

On 9 Oct 2003 15:45:39 -0700, (SP Cook) wrote:

I don't really see how changing the bill helps at all, unless they
call in all of the old ones. You can still use "old" small picture
bills anywhere and nobody will bat an eyelash. It will take years
for even the "old" bills to be flushed out of the system, let alone
the "middle-aged" bills.

I think you'll find bills get old a lot quicker than that, and even if
it did take years, why would that mean leaving the easy to counterfeit
bills around is a good idea? Or yeah, lets do nothing simply because
it takes too long...

No, lets simply call in and cancel all of the old bills. Europe did
that with the Euro conversion in a few weeks.

On 11 Oct 2003 04:04:49 -0700, (SP Cook) wrote:

No, lets simply call in and cancel all of the old bills. Europe did
that with the Euro conversion in a few weeks.

That would be ridiculously expensive, just like the Euro experiment
was, and almost certainly pointless when in within a reasonable
timespan we could probably go for an all electronic mechanism.

Jim.

"Jim Ley" schreef in bericht
...
On 11 Oct 2003 04:04:49 -0700, (SP Cook) wrote:

No, lets simply call in and cancel all of the old bills. Europe did
that with the Euro conversion in a few weeks.

That would be ridiculously expensive, just like the Euro experiment
was,

The euro is not an "experiment". 300 million + Europeans daily pay in euros,
and the euro is increasingly popular in Central and Eastern Europe and parts
of Asia and Africa.

Sjoerd

On Sat, 11 Oct 2003 14:06:25 +0200, "Sjoerd"
wrote:


"Jim Ley" schreef in bericht
...
On 11 Oct 2003 04:04:49 -0700, (SP Cook) wrote:

No, lets simply call in and cancel all of the old bills. Europe did
that with the Euro conversion in a few weeks.

That would be ridiculously expensive, just like the Euro experiment
was,

The euro is not an "experiment". 300 million + Europeans daily pay in euros,

Sure, but it was an experiment... and it's still an experiment on a
macro economic scale where it's doing nasty things to the economies of
Germany and France. Perhaps it's not surprising that coming from .nl
who have only gained from the Euro you're so enthusiastic...

Jim.

"Sjoerd" wrote in message
...

"Jim Ley" schreef in bericht
...
On 11 Oct 2003 04:04:49 -0700, (SP Cook) wrote:

No, lets simply call in and cancel all of the old bills. Europe did
that with the Euro conversion in a few weeks.

That would be ridiculously expensive, just like the Euro experiment
was,

The euro is not an "experiment". 300 million + Europeans daily pay in
euros,
and the euro is increasingly popular in Central and Eastern Europe and
parts
of Asia and Africa.

Significantly, Russia is to start pricing their oil exports in Euros, rather
than US$ as previously.

SP Cook wrote:

(Jim Ley) wrote in message

On 9 Oct 2003 15:45:39 -0700, (SP Cook) wrote:

I don't really see how changing the bill helps at all, unless they
call in all of the old ones. You can still use "old" small picture
bills anywhere and nobody will bat an eyelash. It will take years
for even the "old" bills to be flushed out of the system, let alone
the "middle-aged" bills.

I think you'll find bills get old a lot quicker than that, and even if
it did take years, why would that mean leaving the easy to counterfeit
bills around is a good idea? Or yeah, lets do nothing simply because
it takes too long...

No, lets simply call in and cancel all of the old bills. Europe did
that with the Euro conversion in a few weeks.

It won't take terribly long for the old bills to disappear. The Canadian
government has taken a liking to changing our currency appearance fairly
often, and the old bills are hard to find in common circulation after a
year or two. And when the old bills do show up they don't cause any
problems, they either get hoarded, continue their normal currency life, or
get pulled out of circulation by a bank. If one of the older bills were
easier to counterfeit, it would certainly be easier to spot them when they
became part of the obvious visual minority of style of bills being used.

DMW

On Sat, 11 Oct 2003 19:00:58 +0000 (UTC), "Mike O'Sullivan"
wrote:


Significantly, Russia is to start pricing their oil exports in Euros, rather
than US$ as previously.



and some other things are now price in euros and very easy to get it
exchange over there. (UK pounds are still difficult to exchange
there.)
----------------------------------------------------
reverse my email address, and remove the obvious
spam traps to reach me by email.
http://www.callthrough.tk/ = site not updated.

On Mon, 13 Oct 2003 00:38:19 +0200, "tim"
wrote:

Your local treasury will probably work on the basis that the useful
life-time of an individual note is around 9 months. If you just continue
to withdraw 'old' notes as they become tatty there will be few left in
circulation after 18 months, though there will be lots left in security
boxes etc (including some in my wallet, from around 1997 - I hope
that I can still spend them!) so you have a 'recall' to get the last few
handed in.

As has been said other countries do this routinely, why would the US
find it hard?

The only recall the USA has made of old money was the recall of
gold coins and gold certificates in the early 1930s.

************* DAVE HATUNEN ) *************
* Tucson Arizona, out where the cacti grow *
* My typos & mispellings are intentional copyright traps *

"SP Cook" wrote in message om...
Go Fig wrote in message ...
This link has a pic of the new note (right side):

http://www.foxnews.com/story/0,2933,99524,00.html


SNIP.

I don't really see how changing the bill helps at all, unless they
call in all of the old ones. You can still use "old" small picture
bills anywhere and nobody will bat an eyelash. It will take years
for even the "old" bills to be flushed out of the system, let alone
the "middle-aged" bills. By that time, these "new" bills will
probably also have been surplanted by something else.

Your local treasury will probably work on the basis that the useful
life-time of an individual note is around 9 months. If you just continue
to withdraw 'old' notes as they become tatty there will be few left in
circulation after 18 months, though there will be lots left in security
boxes etc (including some in my wallet, from around 1997 - I hope
that I can still spend them!) so you have a 'recall' to get the last few
handed in.

As has been said other countries do this routinely, why would the US
find it hard?

Tim

On 10/12/03 5:38 PM, in article , "tim"
wrote:


"SP Cook" wrote in message
om...
Go Fig wrote in message
...
This link has a pic of the new note (right side):

http://www.foxnews.com/story/0,2933,99524,00.html


SNIP.

I don't really see how changing the bill helps at all, unless they
call in all of the old ones. You can still use "old" small picture
bills anywhere and nobody will bat an eyelash. It will take years
for even the "old" bills to be flushed out of the system, let alone
the "middle-aged" bills. By that time, these "new" bills will
probably also have been surplanted by something else.

Your local treasury will probably work on the basis that the useful
life-time of an individual note is around 9 months. If you just continue
to withdraw 'old' notes as they become tatty there will be few left in
circulation after 18 months, though there will be lots left in security
boxes etc (including some in my wallet, from around 1997 - I hope
that I can still spend them!) so you have a 'recall' to get the last few
handed in.

As has been said other countries do this routinely, why would the US
find it hard?

Tim



Because being told by the Government they HAVE to do something is anathema
to most Americans.