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U.S. Savings Bonds Go Paperless
CBS Local ^ | 1/04/12

Posted on 01/07/2012 5:49:28 PM PST by Libloather

U.S. Savings Bonds Go Paperless
January 4, 2012 10:30 PM

PITTSBURGH (KDKA) — U.S. savings bonds enclosed in birthday cards have been an American tradition for more than 70 years.

But from now on, purchasers will have to be computer savvy.

As of January 1, the U.S. Treasury declared that all bonds must be purchased online through the website www.treasurydirect.gov.

The buyer can download a “gift certificate” indicating the amount of the bond, and for what occasion.

(Excerpt) Read more at pittsburgh.cbslocal.com ...


TOPICS: Crime/Corruption; Extended News; Government; News/Current Events
KEYWORDS: bonds; paperless; savings; us
Haven't touched 'em since the EE back in the 80's.
1 posted on 01/07/2012 5:49:38 PM PST by Libloather
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To: Libloather
U.S. Savings Bonds Go Paperless

I wish the dollar would.

2 posted on 01/07/2012 5:52:06 PM PST by BfloGuy (The final outcome of the credit expansion is general impoverishment.)
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To: Libloather

Well if they’re no longer worth the paper they’re printed on what are they worth?


3 posted on 01/07/2012 5:54:10 PM PST by ninonitti
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To: Libloather

I found this to be a royal pain this year
I used to buy a few for my Goddaughter for special occassions every year
now she has to have an account open in her name and i have to send a virtual gift to it and she would have to accept it
well poo poo on that
i just give cash now


4 posted on 01/07/2012 5:58:56 PM PST by DM1
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To: Libloather

I found this to be a royal pain this year
I used to buy a few for my Goddaughter for special occassions every year
now she has to have an account open in her name and i have to send a virtual gift to it and she would have to accept it
well poo poo on that
i just give cash now


5 posted on 01/07/2012 5:59:10 PM PST by DM1
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To: Libloather

First indication that TPTB will default on internal Treasury debt first.

Hey Larry, how do I skip paying back this loan?
Just hit the delete key Curly.


6 posted on 01/07/2012 5:59:31 PM PST by JerseyHighlander
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To: DM1

To wit:

http://www.spiegel.de/international/business/0,1518,806990,00.html

Franz Herrmann, head of the German Association of Savers (BDS), has spent half a century trying to be a good investor. As a child, he filled piggy banks and, as an adolescent, he put money away in his savings account. Later came a building loan contract, in addition to 12 life insurance policies. “Money attracts money,” his father liked to tell him, quoting a German saying. “I was hardwired for saving money,” Hermann explains.

At 52, he says he figured out “what’s going on.” He’d earned money through his business selling beer steins and jewelry in Munich’s city center. But he became convinced that he’d actually lost money through his savings efforts and cancelled his insurance policies, while the small interest earnings from his remaining savings accounts were “eaten up by inflation,” he says. To fight back, Herrmann formed the BDS. Now he makes appearances around the country, warning of “money-destroying instruments.” He’s certain that saving is “state-sanctioned robbery.”

Becoming poorer by saving? As radical as Herrmann’s perspective may sound, a growing number of people share his mistrust.


7 posted on 01/07/2012 6:01:44 PM PST by JerseyHighlander
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To: Libloather

Oh goodie. Hit a few keys on Timmy Geithner’s computer and they can say ‘What Savings Bond?”


8 posted on 01/07/2012 6:02:17 PM PST by LegendHasIt
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To: Libloather

In my mind’s eye (This is FR, so of course I am not going to read the article) the governement then sends the recipient an e savings bond to print out,

or if they want to help save the planet, a refurbished Walmart, or Amazon gift card..I envision the words Wal*Mart or Amazon scratched out with a magic marker, then the words US Treasury Savings Bond written under that.

The old magnetic strip will be replaced with a new one from the Government indicating the amount of the bond at maturation..

This will create many new jobs /s


9 posted on 01/07/2012 6:03:44 PM PST by sockmonkey (He's not perfect, but Perry is no wussy boy)
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To: Libloather

Saving pennies on printing and tossing away Trillions.


10 posted on 01/07/2012 6:04:52 PM PST by Venturer
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To: Libloather

I see absolutely no potential for abuse, in terms of somebody arbitrarily wiping out your bonds with the pressing of a computer key, or somebody giving themselves a million bonds, just because they can.

Nope, nothing like that can happen here.


11 posted on 01/07/2012 6:33:01 PM PST by Jonty30 (What Islam and secularism have in common is that they are both death cults.)
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To: JerseyHighlander

Government agencies used to have Savings Bonds drives and hit up employees for payroll deduction. Then payroll deduction was canceled, and employees were told if they wanted bonds, to go buy them on their own. At least they are looking out for their own employees.


12 posted on 01/07/2012 6:37:00 PM PST by PAR35
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To: Libloather
You can still get up to $5000 in paper series I savings bonds as part of your tax refund. One financial website suggested that if you do want the maximum amount of bonds to figure out your taxes but instead of sending in your 1040 immediately you file for an extension and include an estimated payment which will bring your refund to $5000. Then once that check has cleared file your 1040 with the request for a $5000 refund in I-bonds.

I'm not saying its a good idea, but last year I-bonds paid a lot more than savings or short term CDs, even counting the 3 month interest penalty if you cash out between 1 and 5 years.

13 posted on 01/07/2012 6:37:15 PM PST by KarlInOhio (Herman Cain: possibly the escapee most dangerous to the Democrats since Frederick Douglass.)
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To: Libloather

I cashed in a sh*tload of them last year to survive the year-long divorce process. I was basically forced to buy them all through the 80’s while I was in the Army. (It was either THAT or contribute to The United Way - NOT!)

I mailed one to my Ex with my wedding band taped to it. It was a $500 bond that my folks had bought us for our wedding nearly 20 years ago; it was worth under $300.00.

We. Are. So. Screwed.

Let me repeat that: WE. ARE. SO. SCREWED.


14 posted on 01/07/2012 7:17:15 PM PST by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set...)
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To: Diana in Wisconsin
Currently 'between engagements' but I have a steady beau who is the love child of Fred Bear and Ted Nugent.

I dunno who that dude is.....but I LIKE him!!

HA!!

15 posted on 01/07/2012 7:20:23 PM PST by Osage Orange (HE HATE ME)
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To: Osage Orange

Oh, I like him, too! He and the Treeing Walker Coon Hounds he raises are out hunting tonight. Nearly full moon and we’ve had NO snow (weird for us) so they’re all in Hog Heaven. :)

Hot date with him tomorrow...if he can be dragged out of the woods at some point. Eh. He’ll get hungry...eventually...

*SMIRK*


16 posted on 01/07/2012 7:29:14 PM PST by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set...)
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To: Libloather

Why shouldn’t they be paper-less, after all... they are becoming worth-less.


17 posted on 01/07/2012 7:31:07 PM PST by C210N (Dems: "We must tax you so that we can buy your votes")
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To: Diana in Wisconsin
Glad to hear of it!!

I'm hunting butt off until the end of bow season here.....

Have not seen Mr. Big as of yet....but had plenty of chances at Mr's. "I need two more years to grow"...bucks.

We shall see!!

18 posted on 01/07/2012 7:33:10 PM PST by Osage Orange (HE HATE ME)
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To: Libloather
Who in their right minds is buying US savings bonds? Paperless and brainless.
19 posted on 01/07/2012 7:39:46 PM PST by WorkingClassFilth (Soon to be a man without a country.)
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To: Libloather
Geeze..they missed the big thing....EE’s will now sell at face value. You have to hold “”EE”s & “I”s 5 years or lose the last 3 months of interest. You will have an Electronic Treasury Direct Account to manage.

It'll save a ton of money going paperless, but no-one has indicated what the feds are going to do with the savings.

20 posted on 01/07/2012 7:41:42 PM PST by stylin19a (obama - "FREDO" smart)
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To: leapfrog0202

21 posted on 01/07/2012 8:04:58 PM PST by leapfrog0202 ("the American presidency is not supposed to be a journey of personal discovery" Sarah Palin)
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To: LegendHasIt
Hit a few keys on Timmy Geithner’s computer and they can say ‘What Savings Bond?”

What I was thinking - what is to prevent the Government from wiping out the database?

When you try and redeem the bond, they then ask you for your bond number.

You give it to them, then they say, "Nope, no such bond number ... Cyaaaa!"

22 posted on 01/07/2012 8:25:30 PM PST by Lmo56 (If ya wanna run with the big dawgs - ya gotta learn to piss in the tall grass ...)
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To: DM1

i’ve been giving 1 oz silver coins to my nephew since he was 2. he has quite a few now. better then cash

and of course, there are always gold coins if you wish to gift those.

both would be better then cash. less likely to be spent and much more likely to keep value


23 posted on 01/07/2012 8:44:02 PM PST by sten (fighting tyranny never goes out of style)
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To: BfloGuy
U.S. Savings Bonds Go Paperless
"I wish the dollar would."

Be careful what you wish for...Italy is trying to go paperless (any cash transaction over 1,000 euro is now illegal and their goal is 300 euro). Goal is tax cheats but here on FR we know that's just the beginning.

24 posted on 01/07/2012 8:59:03 PM PST by LZ_Bayonet ( I AM THE TEA PARTY LEADER !)
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To: WorkingClassFilth

The I series are paying up to 8 per cent or so, depending on when they were issued. Not too bad.

I have a Treasury Direct account. They had a glitch the other day, locked everybody out for a day. Nice.

The marketable securities - (savings bonds can’t be sold, of course) there is no provision to sell them before maturity. That is, not Direct to the Treasury. They have to be transferred to a broker, that involves paperwork, bank official certification, etc.

If you want to buy short term securities and hold till maturity, it’s an OK setup. At least there’s no charge or commissions.


25 posted on 01/07/2012 9:09:15 PM PST by Freedom4US
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To: ninonitti

Why not go paperless? They aren’t worth the price of the paper anyway.


26 posted on 01/07/2012 9:10:15 PM PST by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped.)
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To: DM1

Silver Dollars make a very nice gift.


27 posted on 01/07/2012 9:17:12 PM PST by jpsb
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To: JerseyHighlander
Or here:

Fearful European Investors Stash Money in Luxury Goods

28 posted on 01/07/2012 9:18:59 PM PST by DeaconBenjamin (A trillion here, a trillion there, soon you're NOT talking real money)
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To: sockmonkey

“In my mind’s eye (This is FR, so of course I am not going to read the article)”

Lol.


29 posted on 01/07/2012 9:53:34 PM PST by Pelham (Islam. The original Evil Empire)
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To: Libloather

us savings bonds.. no longer worth the paper they are no longer printed on.


30 posted on 01/07/2012 9:54:07 PM PST by TexasFreeper2009 (Go Newt!)
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To: Libloather

bttt


31 posted on 01/07/2012 11:45:41 PM PST by hattend (If I wanted you dead, you'd be dead. - Cameron Connor)
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To: jpsb

thats actually a really good idea thank you - for some reason i never thought of it despite occassionally buying silver coins for myself
thanks again


32 posted on 01/08/2012 5:27:10 AM PST by DM1
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To: sten

thats actually a really good idea thank you - for some reason i never thought of it despite occassionally buying silver coins for myself
thanks again


33 posted on 01/08/2012 5:27:29 AM PST by DM1
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To: Osage Orange

Good Luck! Safety First! :)


34 posted on 01/08/2012 7:40:09 AM PST by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set...)
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To: JerseyHighlander

He was a smart man.

I realized many years ago that banks and savings institution never...never...never pay interest that is near “real” inflation rates...not the fake ones posted by the government for the lemmings to read. The worst thing is, on top of that statement, the government will tax you on any gain you make in the way of interest. How about that?

The only way to keep up with inflation in investments is to either be a genius at the stock market, pay cash for physical assets that don’t depreciate along with precious metals when they are at bargain prices. Another way is to be in small business for yourself like I am.

My investment is my business and it has paid off well over it’s 39 years of operation and will continue to do so until I pass away.

Retirement accounts, savings accounts, IRAs, Keogh, life insurance polices, and retirement systems are dangerous and are subject to instant failure (or seizure from the government) at an instant if the economy crashes. All will be wiped out...and it can (and most probably will in the near future) if we continue on the path to destruction set by our own government and governing body.

However, people will always need things, need repairs, or need equipment to perform their jobs. If money is not available, barter is.

Just food for thought.


35 posted on 01/08/2012 8:19:29 AM PST by DH (Once the tainted finger of government touches anything the rot begins)
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To: Libloather

I think the paper will be back again. People don’t like to give an empty envelope as a gift.


36 posted on 01/08/2012 3:25:32 PM PST by Sun (Pray that God sends us good leaders. Please say a prayer now.)
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