PREV ARTICLE
NEXT ARTICLE
FULL ISSUE
PREV FULL ISSUE
V11 2008 INDEX
E-SYLUM ARCHIVE
U.S. TREASURY TO ISSUE AUTOMAKER CASHBACK NOTES
Roger deWardt Lane of Hollywood, Florida writes: "This was read at our local coin club Holiday Banquet last week. I'm not sure how it went over, as not all coin collectors and dealers read the papers or watch TV news." Talk about billions; the automakers GM, Chrysler and Ford were in Washington this week after driving their hybrids from Detroit to D.C. Anyway, did you hear the news? The Treasury department has run out of serial numbers to print more $100 bills.
So they announced that instead of doing like Argentina and adding more zeros, they are going to change the Treasury Seal to the logos of GM, Chrysler and Ford and print this new money as "CASHBACK NOTES". Then when you buy that new Ford and get $2,500 cash back, they will give you 25 of the new notes. They hope you will just save a few of the CASHBACK NOTES and the government will never have to make them good!
So they announced that instead of doing like Argentina and adding more zeros, they are going to change the Treasury Seal to the logos of GM, Chrysler and Ford and print this new money as "CASHBACK NOTES". Then when you buy that new Ford and get $2,500 cash back, they will give you 25 of the new notes. They hope you will just save a few of the CASHBACK NOTES and the government will never have to make them good!
Wayne Homren, Editor
The Numismatic Bibliomania Society is a non-profit organization promoting numismatic literature. See our web site at coinbooks.org.
To submit items for publication in The E-Sylum, write to the Editor at this address: whomren@gmail.com
To subscribe go to: https://my.binhost.com/lists/listinfo/esylum
All Rights Reserved.
NBS Home Page
Contact the NBS webmaster
