~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ SANDY SANDFORT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . C'punks, On Mon, 4 Sep 1995, Robert Hettinga wrote:
Has anyone heard about this bill? Comments?
(c) Currency Exchange-- (1) Plan--Not later than 12 months after the date of enactment of this section, the Secretary shall devedlop and begin implementation of a plan to require the exchange of all existing $100 denomination United States currency held within and outside of the United States for $100 denomination domestic use and nondomestic use United States currency issued in accordance with this sectin.
. . .
(1) domestic use currency, issued in accordance with this section shall be recognized as constituting a negotiable claim against the United States Treasury only when presented within the United States, and shall constitute legal tender for any debts, public or private, only when presented in the United States, . . .
(2) nondomestic use currency shall be recognized as constituting a negotiable claim against the United States Treasure, and legal tender for any debts, public or private, only when presented outside of the United States, . . .
It's obvious that this bill has very little to do with large-scale money laundering, narcotrafficking nor terrorism. All those folks will simply use "domestic use currency" inside or outside of the United States. At worst, it will cause them a one-time problem. Then at whom is the bill really aimed? Average, middle-class Americans, is my guess. Fortunately, it doesn't look too tough to get around. If you have a matress full of C-notes, I suggest you start using them to buy travelers checks--including a few denominated in strong foreign currencies. S a n d y ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~