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US Dollars around the world....

Junkman

Junkman

Extra Super Moderator
Tonight on the news they showed how Hezbolah was giving money to rebuild the South of Lebanon, and in the North, nothing is being done very quickly at all due to a lack of money. They showed a Hezbolah representative counting out US Dollars out of a wad that would make any drug dealer jealous.
It is a known fact that drug dealers, Cubans, Colombians, in fact just about every country on earth has an economy that is based on trading US paper money, because of its stability. Even BinLadin, the arch enemy of the US probably has lots of it in his hidden stash. Don't remember how much was recovered when Saddam cleaned out the vaults of the Iraq National Bank, but it was in the millions of dollars. Now, here is my suggestion that will end many of our terrorist problems, the national debt issue, and in the end, will fix our economy overall. Governments of other countries that we owe money to will not be hurt, so they can't complain either. I have been told that this idea was used many times in Viet Nam to eliminate the black market .......
The US Governments prints a totally new $1, $5, $10, $50, $100 bill that is very unique. Then everyone that holds the old currency has 30 days to turn in the old currency and get the new at local banks. Anyone that shows up with bags full of money, say over $5,000 will have to deposit it and then they will be issued a "savings certificate" that can be traded at a later date for the new currency. This will eliminate people that are drug dealers from cashing in their huge stashes of cash, because they will get caught. My guess is that less than 20% of the total outstanding currency of the US will be cashed in, because a huge amount of it is in hands of people that will not be able to cash it in. The only place to cash it will be in the US, so that eliminates all the drug cartels in South America. The terrorists in foreign countries will have paper money that is now worthless. To me, this would be a win win situation. Sure, countries that have a large secondary market using US dollars will be hurt, but that is their problem. I have been told that there is a law that prohibits US currency from being used outside of our borders, but there is no way to enforce this at this time. My method will eliminate the problem. Your thoughts........ Junk...
 
Junkman said:
Tonight on the news they showed how Hezbolah was giving money to rebuild the South of Lebanon, and in the North, nothing is being done very quickly at all due to a lack of money. They showed a Hezbolah representative counting out US Dollars out of a wad that would make any drug dealer jealous.
It is a known fact that drug dealers, Cubans, Colombians, in fact just about every country on earth has an economy that is based on trading US paper money, because of its stability. Even BinLadin, the arch enemy of the US probably has lots of it in his hidden stash. Don't remember how much was recovered when Saddam cleaned out the vaults of the Iraq National Bank, but it was in the millions of dollars. Now, here is my suggestion that will end many of our terrorist problems, the national debt issue, and in the end, will fix our economy overall. Governments of other countries that we owe money to will not be hurt, so they can't complain either. I have been told that this idea was used many times in Viet Nam to eliminate the black market .......
The US Governments prints a totally new $1, $5, $10, $50, $100 bill that is very unique. Then everyone that holds the old currency has 30 days to turn in the old currency and get the new at local banks. Anyone that shows up with bags full of money, say over $5,000 will have to deposit it and then they will be issued a "savings certificate" that can be traded at a later date for the new currency. This will eliminate people that are drug dealers from cashing in their huge stashes of cash, because they will get caught. My guess is that less than 20% of the total outstanding currency of the US will be cashed in, because a huge amount of it is in hands of people that will not be able to cash it in. The only place to cash it will be in the US, so that eliminates all the drug cartels in South America. The terrorists in foreign countries will have paper money that is now worthless. To me, this would be a win win situation. Sure, countries that have a large secondary market using US dollars will be hurt, but that is their problem. I have been told that there is a law that prohibits US currency from being used outside of our borders, but there is no way to enforce this at this time. My method will eliminate the problem. Your thoughts........ Junk...
Click to expand...


:a1: I like it...
 
Junkman said:
I have been told that this idea was used many times in Viet Nam to eliminate the black market .......
The US Governments prints a totally new $1, $5, $10, $50, $100 bill that is very unique. Then everyone that holds the old currency has 30 days to turn in the old currency and get the new at local banks. now worthless. Junk...
Click to expand...

Very true. Every quarter the money colors would change. WE had paper nickle, dime, quarter, 1,5,10, and 20 dollar bills. The difference with us though, was 24 hours to swap money or what was left was useless... Your idea would work sans the 30 days... In 30 days a number more millions can be illegally made, which still helps the wrong people.
 
LarryRB said:
........... In 30 days a number more millions can be illegally made, which still helps the wrong people.
Click to expand...

We will never stop the crooks, drug dealers, etc. from holding US Dollars, but this will stop a large percentage of it. Since it can only can be converted in a US bank, then all those that hold US dollars outside of the US, are going to be SOL. Those with large holdings in the US will be subject to IRS scrutiny if they turn in too much that is unaccounted for.
 
overseas they had some special provisions for guys that were out in the jungle, others gone on R&R somewhere and possibly a few other instances. Whever these people got back to wherever they were suppose to be,, the finance officer was standing right there, and swapped the color for new. What Junk proposes would work, and I think work well, Those that claim the color change would add millions to the cost only has to think how many millions in any given year are counterfeit. I'm sure the actual costs wouldn't even come close to what is counterfeit and we all pay for this one way or another.
 
I like the idea.

I would consider a provision that after the 30 days, currency can still be exchanged but no more than $100 at a time. (kids piggy banks, cash found laying around...)

There may also need to be a provision for collectors.
 
Trust me - a large portion (if not all) of the money that Hezbollah was handing out was probably counterfeit. It's common knowledge that enemy states seek to de-value each other's economies through forgery. This has been going on forever.

Junk's plan is nice in it's simplicity but I suspect there is an unseen complexity behind the scenes.
 
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