Promise her anything...

Duncan Frissell frissell at
Tue Mar 22 13:08:17 PST 1994

On Tue, 22 Mar 1994, Peter Hendrickson wrote:

> The IRS made bearer bonds illegal about ten years ago.  It seems
> people were using them to evade income tax.  I believe they are
> forbidden within the United States and U.S. citizens are forbidden to
> own them at all anywhere.

Bearer bonds are not illegal in the US.  The interest paid on bearer bonds
issued after a certain date is not deductible from taxes but the bonds are
legal.  Additionally, depending on specifics, financial institutions may
have to report sales and purchases including tax ID # on some transactions
involving bonds.

A bond is just a debt obligation.  If you want proof that bearer
instruments are legal, endorse a check made payable to you - you have just
converted it into a bearer instrument (as long as you add no restrictions
to your endorsment).  You will not be busted if the government finds out
you signed the back of a check.


"She sleeps with the boss."  Roz Russell on how Norma Shearer (wife of
Irving Thalberg) got all the juicy movie roles.  -- Not Rush discussing 
how HRC got WJBC to appoint her Health Care Czar.

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