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ink, and watermark; but also had the colors of green and peach added to its background, as well
as small yellow “20’s” printed on the back. The new $50 and $100 bills will be coming in 2004
and 2005.
Some financial experts have theorized that when every denomination is changed over, that
the business sector may not want to accept old bills, which would then become worthless, and
could create a financial emergency. But Federal officials have said that the old money would be
accepted, but scrutinized. It has been suggested that the government could really take advantage
of the situation, that in order for people to exchange their old money for new, an exchange rate
may be determined which would benefit the economy. For example, it may take two old dollars
to exchange for a new one. It is possible that we may be experiencing the final transition to the
“new money.”
This transitional currency may be just another step in testing the public’s willingness to
accept economic change. The Reserve formally had about seven currency sorting machines
which counted up to 55,000 bills per minute, but by the end of 1983, they had received 110 new
machines which could count up to 72,000 bills per minute. Jane Kettleson, an economic
consultant to the U.S. Paper Exchange, said that, “the FED will have the capability to physically
replace the entire U.S. currency in circulation in just four days time.”
The International Monetary Fund has been responsible for the decline of our dollar, and our
present economic situation. The first step to initiating this ‘crash’ was the Monetary Control Act
of 1980, which instead of a 6:1 ratio, mandated the Federal Reserve to only have one dollar on
deposit for every twelve they create. Further plans were made during a meeting of Western
leaders at Williamsburg, Virginia, on May 28-30, 1983.
International cooperation has been intense to coordinate currency changes among its member
governments. In 1985, officials from the Morgan Bank in New York met with the Credit
Lyonnais Bank in France. They established the European Currency Unit Banking Association
(ECUBA), to get world cooperation for a unified currency, and had support from bankers in
Europe, Japan, and the United States. It was an offshoot of the Banking Federation of the
European Community (BFEC), which has been engaged in shutting down small banks in order to
develop a conglomerate of a few huge banks. In October, 1987, the Association for the Monetary
Union of Europe (AMUE), secretly met and recommended that the ECU (European Currency
Unit) replace existing national currencies; and that all European Central Banks be combined into
one and issue the ECU as the official unified currency (which is scheduled to occur in the year
2000). It is believed that the plan is to have only three central banks in the world: The Federal
Reserve Bank, the European Central Bank, and the Central Bank of Japan. In a June, 1989
hearing of the Senate Banking Securities Subcommittee, Alan Greenspan, Chairman of the
Federal Reserve, said that exchange rates could be fixed in order to solve the problem of
uniformity between the currencies of various nations.
Many countries have issued new money, such as Switzerland, the United Kingdom, Japan,
Canada, France, Germany, Australia, and Brazil. Of the countries that already had, most
currencies had a common 1” square, usually on the left side of the bill. Held over a light, a
hologram appears on the spot, barely visible to the naked eye, which cannot be reproduced on a
copier. It is believed that this spot is being reserved for a central World Bank overprint. They
also contain metallic strips that can be detected when they pass through scanners at airports and
international borders.
On May 10, 1994, when USA Today carried a page one article concerning major changes in
the design of the paper currency, which was expected to take place by the end of the year, it was