We might be dealing with low inflation and even a falling cost of living, but not everyone in the United States is dealing with the same economic woes. Americans who are in prison have their own economy—one with rampant inflation, alleged price-fixing, and a fish packet-based economy.
Visual Economics has a fun chart that shows how many of each denomination of U.S. currency is in circulation, as well as their average lifespans. For some reason, the $5 bill has the shortest lifespan. Also, seriously, we need to stop producing pennies NOW.
Banks are increasingly charging foreign transaction fees on domestic purchases, a dangerous practice that’s likely to expand as banks look for new ways to generate profit. Tripso tells us the story of Sunil, who bought tickets with Qatar airlines, which sounds ever so expensively foreign. Citi charged a 2% foreign transaction fee, even though the tickets were bought in U.S. dollars and processed by the airline’s central reservation system based in Washington D.C.
Did you have a few brews and decide it’d be funny to light cigars by burning $100 bills? If you have at least half of it left, you can get it replaced. Here’s how.
Reader Justin says he bought some software from Valve’s Steam service — and was randomly charged in British pounds. This resulted in a bunch of extra charges from his bank. He’s tried to contact Valve about the issue, but he says he’s being ignored.
Have you seen them? The Europeans? They’re everywhere! In our fancy bistros, on line at the Apple store, spending their fancy-pantzy valuable Euros while we suffer through this intolerable non-recession. The patriots at the New York Times finally sounded the warning call over this European “invasion” that’s transforming New York into the “Walmart of hip.”
According to the AP, the U.S. Court of Appeals for the District of Columbia Circuit ruled that because all dollar bills are identical to the touch, it denies blind people “meaningful access” to the currency. For years, the American Council of the Blind has been going after the government to take action, but the government has always resisted. Details, inside…
Amsterdam doesn’t want your stinking worthless U.S. currency. [Reuters]
If you liked Harold And The Purple Crayon, boy are you going to love the new $5 bill. Lincoln’s last stand after the penny will inherit the same counterfeiting countermeasures found on more valuable bills, and will come bruised with a large purple five “to help those with visual impairments distinguish the denomination.’ That’s right, never again will you confuse a $5 bill for a $50 bill.
Treasury Secretary Henry Paulson hates the penny because it is a worthless dingleberry of a coin. In an interview sure to have kids thinking they know enough to run the Mint, Paulson simplistically noted: “The penny is worth less than any other currency.” Don’t sing the penny’s swan song just yet.
…he quickly added that he didn’t think it was “politically doable” to eliminate the one-cent coin and it wasn’t something he planned to tackle in the final year of the Bush administration.
Great, add the penny to the slate of issues over which the parties disagree. Put it right next to war spending and social security.
“We didn’t realize we would take so much in and there were that many people traveling or having euros to bring in. But some days, you’d be surprised at how many euros you get,” Chu said.
Our beloved U.S. Mint has apparently redesigned the dollar coin to feature a rotating slate of Presidents. Each President gets a three-month stint on the coin. On Thursday, James Madison, our 4th Chief Executive, took his rightful place on the golden slab – but nobody seemed to care. Why?
You’ve probably been hearing a lot about the weak dollar, but might not be sure what exactly it means for you.
While dumping ten thousand pennies upon a counter says ‘Hobo Joe’ no matter how you look at it, it is better sometimes than walking around with a huge wad of small bills.