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Bills printed 100 years ago, and more, are useable as legal currency. When such bills go through a bank, they are NOT " traced " and as legal tender

I agree we are told they are legal tender for all debts public and private, so I wonder how this would work.

Then there is the issue of exchange rate. Presumably they'd be $1 to $1, but then I assumed the Fed would never induce inflation either. Agitator in post#8 seems to suggest otherwise.

But if a distinguishable new currency were introduced for domestic use only, and by law, not exchangable with the old-design currency circulating only outside the US, both could be "legal tender", just not exchangable without explaining where one got the currency they had.

Such a plan does not exist, the article writer is hawking gold. The 'author' he's quoting was the editor of 'Crime News' in a 2001 story. This is just the typical scare tactics that gold marketers use to bump the price of gold so that the traders can get out of the market just before one of the major sales by countries divesting themselves from large hoards of gold. The next major sale is in December, which means these traders have to bump the market so they can have some form of profit before the bottom falls out again.

I doubt that agitator has ever worked in a bank or knew anyone who worked in currency. I, OTOH, know both.

What those here, who revel in being frightened to death by imagined shadows, don't know, fills volumes and WHY anyone ever believes them, is beyond me.

The new paper money is being made to foil fraud and counterfitting, which has once again become a HUGE problem. It has NOTHING at all, to do with a two tiered money system.

You keep referring back to post #8 like it has merit. It's parnoia bunk.

Do you think all money last forever? Would the writer of this ridiculous article make the same case for the new quarters with each state on the back?

It's obvious a lot of people do not understand how money works. The Federal Reserve, along with setting interest rates, also sets the limits on the money supply. The money supply is also measured in many ways in the form of M-1, M-2 money, etc.

The Treasury knows how much new printed money it sends out and the banks work with them to capture and destory old money. Just look at every bill we have today. Every single one has a year printed on it. They also have the signatures of the Secretary of the Treasury and the U.S. Treasurer. These change every single year.

In no way does the Treasury devalue money based on the year it was printed. If you have a cigar box full of $100 bills with a date of 1968 on them, they are still worth $100 if you deposit them into a bank. The bank will normally take that bill, especially if worn (that's an entirely different criteria) and send it to the Treasury for destruction. I don't know what the date determination the Treasury currently has, even if it's a written rule, but they do this constantly.

You can also send any bill you have that has been destroyed, say, in the wash, burned somewhat, ripped up, etc. and if the Treasury Dept. can conclude enough of the bill still exist, and it's a low percentage in many cases, they'll replace it dollar for dollar. They have ways, even without the serial number, to determine what bill it was.

And that brings up the fact of the serial number. They aren't there only to stop counterfeiting, those numbers are used to track how much cash, or M-1 money, is in circulation.

This process is one reason certain money become collector's items. I have a $2 bill (the ones with Jefferson on them) minted in 1976 that I got on the American Freedom Train that traveled around during the Bi-Centennial. It's also postmarked from the city I got it, in this case Little Rock, as they did this in every city. It's still worth $2 and the currency hasn't collapsed. Actually, I could probably get more for it on e-Bay with the Freedom Train postmark.

I also wonder if the writer of this article got all bent out of shape when, years ago, the government started redesigning all money over the $1 bill.