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Thread: Basic yet excellent introduction to money.

  1. #11
    Quote Originally Posted by shikamaru
    Minor quibble over titles.

    Titles are bundles of rights. Titles can be transferred in a commercial transaction, but titles in and of themselves are not "promises to pay".
    You are correct, I should have been more specific and said "Certificates of Title", and not the title itself.

  2. #12
    Quote Originally Posted by Gavilan View Post
    You are correct, I should have been more specific and said "Certificates of Title", and not the title itself.
    Indeed.

    Certificates of title are a different beast from titles .

  3. #13

  4. #14

  5. #15
    The commentators omit that United States Notes are still in circulation. They actually say that they are not in circulation, unless I misunderstood. That circulation does exist is what forms the value of the distinction between money and IOUs.

  6. #16
    The Federal Reserve Act of 1913 authorized the production and circulation of Federal Reserve notes. Although the Bureau of Engraving and Printing (BEP) prints these notes, they move into circulation through the Federal Reserve System. They are obligations of both the Federal Reserve System and the United States Government. On Federal Reserve notes, the seals and serial numbers appear in green.

    United States notes serve no function that is not already adequately served by Federal Reserve notes. As a result, the Treasury Department stopped issuing United States notes, and none have been placed into circulation since January 21, 1971.
    Last two paragraphs.

    Good to see you here Cheryl Marie!!

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