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How Can We Increase Circulation Of The $50

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 Posted 09/14/2020  11:07 pm  Show Profile   Check silverstash119's eBay Listings Bookmark this reply Add silverstash119 to your friends list Get a Link to this Reply
I'd rather put silver and gold back into circulation than worry about fiat currency.
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 Posted 09/15/2020  11:41 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
I'd rather put silver and gold back into circulation than worry about fiat currency.
Never going to happen. Not enough previous metals in the world to back the money supply.
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 Posted 09/23/2020  09:03 am  Show Profile   Bookmark this reply Add PacoMartin to your friends list Get a Link to this Reply
The amount of federal reserve notes was $44.55 billion at the end of 1969 when the $500 and $1000 notes were announced that they would be destroyed if the central bank got any. The circulation of federal reserve notes was increased to $51.3 billion by the end of 1971 when the gold standard was terminated.

In the last 12 months, the US has increased the circulation of federal reserve notes by $250 billion (the largest year over year increase ever recorded) to meet the demand generated overseas by COVID. Total circulation now exceeds $2 trillion as of September 2020.


Quote:
I'd rather put silver and gold back into circulation than worry about fiat currency.


Is this statement thought through at all?

Edited by PacoMartin
09/23/2020 09:04 am
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 Posted 09/23/2020  10:43 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

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Is this statement thought through at all?
I think not.
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 Posted 10/22/2020  10:49 pm  Show Profile   Bookmark this reply Add PacoMartin to your friends list Get a Link to this Reply

Quote:
just carl
Soon there will be no need for any paper currency. Even now more and more people are just using plastic cards.


You are talking about a theoretical change which is not likely to happen in the next two decades. The new series of $100 bills is to be released in 2034-2038 time period. By that point we may have 40 billion $100 notes in circulation.

Initial Print Order for 2020 in number of bills
$1 1,574,400
$5 736,000
$10 460,800
$20 1,241,600
$50 76,800
$100 1,078,400
Total 5,168,000

When a new design for $100 notes is released people are frantic about trading in the old notes for new notes. This phenomenon is especially acute in foreign countries. In February 2010 the BEP began printing new color $100 notes, and they began to have production problems of the first order in trying to print so many at once.

The $20 banknote does not have this problem since they mostly circulate domestically and are not worth enough to make people terrified of counterfeits. The stock of notes can slowly be converted over more than a decade to a new series.

My prediction is a severe hurt for the US economy as foreigners change several trillion dollars in US$100 bill to Chinese Yuan central bank digital currency (which will exist by that time).
Edited by PacoMartin
10/22/2020 10:57 pm
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