Logo Background RSS

Advertisement

Where Have All The (New) Dollars Gone?

  • Written by Syndicated Publisher No Comments Comments
    October 4, 2013

    A couple of comments on recent DollarCollapse posts have included a strange assertion, that the paper money in circulation in the US is all dated 2009 or before. Apparently there are no new bills:

    Suzanne, September 4
    I’d like to point out something:

    Look at your cash… you won’t see any paper dollars of any denomination printed after 2009. The money the Fed is printing is strictly numbers in data entry.

    If everyone goes to get their money out of the bank or stock market, there isn’t enough cash to go around. Get cash into your hands, use some to buy precious metal, and keep cycling that cash, and keep a chunk of it in the house for use in case of a “bank holiday”.

     

    Bruce C., October 1
    Rather than comment on this subject, I’d like to ask other readers for feedback about something that seems very mysterious.

    About a month ago, someone called “Suzanne” wrote a comment here that read, “I’d like to point out something: Look at your cash… you won’t see any paper dollars of any denomination printed after 2009.” (http://dollarcollapse.com/the-economy/confluence/)

    I thought that was very interesting and have since checked hundreds of bills of all denominations (up to $100) and haven’t found any of Series 2010, 2011, 2012, or 2013. She may be right about that, and that the Fed is “printing”/creating money in digital form only, in the account balances at the primary dealer banks (mostly as “reserves”).

    It’s not clear to me yet why this might be happening, but if it’s true then the net effect is the gradual reduction of physical US currency in the world. (The “money supply” may be increasing but in digital form only, not as cash in circulation.) The reason for this is that a portion of all cash transactions eventually make their way into the banking system in which worn out bills are supposed to be replaced with new ones, presumably ones that show the year the bills were printed (e.g., Series 2012). But, evidently, that may not be what’s happening, so fewer and fewer bills remain in circulation over time. I haven’t even found a new looking Series 2009, in case all new bills printed after 2009 continue to have that mark, for whatever reason. I’ve heard that banks want to create a cashless monetary system, and this could be the way they are trying to do it. Another possibility is that a new devalued currency is being planned that will replace US dollars, rendering them obsolete. Nevertheless, it probably is a good idea to stash some real cash while it’s still readily available in case the SHTF.

    Has any one out there found any bills of Series 2010 or later?

    Today I checked the cash that’s lying around the house (about $300, mostly in twenties), and found nothing newer than 2009.

    Thoughts?

    Images: Flickr (licence attribution)

    About The Author

    Post image for About

    DollarCollapse.com is managed by John Rubino, co-author, with GoldMoney’s James Turk, of The Collapse of the Dollar and How to Profit From It (Doubleday, 2007), and author of Clean Money: Picking Winners in the Green-Tech Boom (Wiley, 2008), How to Profit from the Coming Real Estate Bust (Rodale, 2003) and Main Street, Not Wall Street (Morrow, 1998). After earning a Finance MBA from New York University, he spent the 1980s on Wall Street, as a Eurodollar trader, equity analyst and junk bond analyst. During the 1990s he was a featured columnist with TheStreet.com and a frequent contributor to Individual Investor, Online Investor, and Consumers Digest, among many other publications. He currently writes for CFA Magazine.

    Share on FacebookTweet about this on TwitterShare on Google+Share on LinkedInPin on PinterestShare on StumbleUponShare on RedditShare on TumblrDigg thisBuffer this pageFlattr the authorEmail this to someonePrint this page

Advertisement