Tag Archives | Treasury
It’s both amusing and exasperating to see such great effort to bolster the authenticity of our currency. Especially knowing it holds no “real” value to begin with. Here’s what newmoney.gov has to say about it:
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Officials from the U.S. Department of the Treasury, the Federal Reserve Board and the United States Secret Service today unveiled the new design for the $100 note. Complete with advanced technology to combat counterfeiting, the new design for the $100 note retains the traditional look of U.S. currency.
“As with previous U.S. currency redesigns, this note incorporates the best technology available to ensure we’re staying ahead of counterfeiters,” said Secretary of the Treasury Tim Geithner.
“When the new design $100 note is issued in TBD, the approximately 6.5 billion old design $100s already in circulation will remain legal tender,” said Chairman of the Federal Reserve Board Ben S. Bernanke. “U.S. currency users should know they will not have to trade in their old design notes when the new notes begin circulating.”
The redesigned $100 note includes two new advanced counterfeit-deterrent security features, in addition to effective security features from the previous design.
Mark Knoller writes at CBSNews.com:
The latest calculation of the National Debt as posted by the Treasury Department has – at least numerically – exceeded the statutory Debt Limit approved by Congress last February as part of the Recovery Act stimulus bill.
The ceiling was set at $12.104 trillion dollars. The latest posting by Treasury shows the National Debt at nearly $12.135 trillion.
A senior Treasury official told CBS News that the department has some “extraordinary accounting tools” it can use to give the government breathing room in the range of $150-billion when the Debt exceeds the Debt Ceiling.
Were it not for those “tools,” the U.S. Government would not have the statutory authority to borrow any more money. It might block issuance of Social Security checks and require a shutdown of some parts of the federal government…
[continues at CBSNews.com]