Is there a new domestic currency coming for internal use within the USA?

[BillBoard]

Is anyone here in New York City? There is a large sign on Broadway claiming there is a new domestic currency coming soon?

I asked a broker about it while waiting for my coffee and he said that they hope to stimulate the US domestic economy. He said "red" dollars for internal domestic use would spur domestic production and would not escape to be use in international economies, this this new domestic production would spur demand from overseas buyers bring home "green dollars".

Can anyone explain anything about this further?

Sry my phone doesnt have the best keyboard.

[pianodoctor]

Re: Is there a new domestic currency coming for internal use within the USA?

It seems very odd they would announce such a thing on just a billboard. Perhaps it's just referring to a bill redesign, as they have been doing lately.

[runlikehe11]

Re: Is there a new domestic currency coming for internal use within the USA?

I have read that some people speculate, that there will be a domestic currency that can/will be devalued at a faster rate than an international currency.

[ph12321]

Re: Is there a new domestic currency coming for internal use within the USA?

I call b.s. Dual currencies for international and domestic uses is a tactic that is only used by dictators of rogue nations and/or third world countries. When the USA becomes a banana state, then we shall have a two tiered currency system, with 1 for domestic and 1 for international use....


Wait, now that I think about it, I don't call b.s......

[mooncliff]

Re: Is there a new domestic currency coming for internal use within the USA?

Sounds like an ad campaign for... Coke or something.

Or else, if they really change the domestic currency, it is to ferret out all that cash under mattresses...

[Serge_Tomiko]

Re: Is there a new domestic currency coming for internal use within the USA?

Is anyone here in New York City? There is a large sign on Broadway claiming there is a new domestic currency coming soon?

I asked a broker about it while waiting for my coffee and he said that they hope to stimulate the US domestic economy. He said "red" dollars for internal domestic use would spur domestic production and would not escape to be use in international economies, this this new domestic production would spur demand from overseas buyers bring home "green dollars".

Can anyone explain anything about this further?

Sry my phone doesnt have the best keyboard.

What is the cross street? I have heard nothing of this.

[metalman]

Re: Is there a new domestic currency coming for internal use within the USA?

Is anyone here in New York City? There is a large sign on Broadway claiming there is a new domestic currency coming soon?

I asked a broker about it while waiting for my coffee and he said that they hope to stimulate the US domestic economy. He said "red" dollars for internal domestic use would spur domestic production and would not escape to be use in international economies, this this new domestic production would spur demand from overseas buyers bring home "green dollars".

Can anyone explain anything about this further?

Sry my phone doesnt have the best keyboard.

take a picture of the sign & post it here?

[doom&gloom]

Re: Is there a new domestic currency coming for internal use within the USA?

maybe it will be the currency of the "red" chinese?

[mmr]

Re: Is there a new domestic currency coming for internal use within the USA?

This rumor has bounced around on and off for years, apparently... I'm not sure who would be using it for marketing purposes now, though.

Red Money

I was having a drink at a swell bar in the city the other night. The place was packed. My friend and I had a laugh about an old story that crossed our lives many years ago. The story of Red Money. Some time later, as we were leaving, a well-healed guy comes to me and says a bit conspiratorially, “ I believe in Red Money too”.

I am not sure where this story originated. It has been around forever. The reason it has stood the rumor mill test of time is that it is so fundamentally believable.

It goes like this. One morning we wake up and the Treasury has made an announcement that it is going to convert all US currency from green to red. The process will commence immediately and continue for a period not to exceed four months. Very few would be impacted. If you had money in a bank, money fund or brokerage account it would make no difference. If you had some green cash you would either spend it or deposit it into your account. It would not influence the value of the holdings of foreign reserves. That is all “electronic” money. Red money would only impact cash money....

What might happen if we woke up to a red money world?

-Again, for all electric money and most of the actual cash holders this would mean nothing. The next time you went to an ATM it would come out red. The new and old would be equally acceptable. As old is spent it would work its way through retailers and Banks with no problem. After the four months money could still be changed. But it would require disclosure.

-US money is in every corner of the world. When the word gets out that it can’t be used after a given period of time it too will be exchanged back through the banks. The moneychangers around the world would have a field day for a while....

-If one wanted to give the global economy a ~$300 billion of “instant demand stimulus” this would be on the list. It would be a micro burst of activity that would support another (longer) inventory cycle. Yes, a lot of this money would be re-channeled into useless things like a packet of diamonds, a Corvette or a condo in Miami. But that is what we have been doing for the past twenty years. This just picks up the pace a few notches. There is next to no cost to this. We might just catch a bad guy.