Question about broken bank notes and modern banknotes

Hi
I read somewhere that most American broken bank notes were in fact
checks (bearer checks). Would anyone agree or disagree with that?

Would the same statement correctly apply to the 19th century
provinicial bank notes of England?

What about modern banknotes of the USA and Britain?
I think I heard someone say that a modern British banknote is in fact
a promissory note. Anyone comment on that?

What about a modern US dollar bill?

Thank you

Ricky C

"AL" wrote in message
...

Hi
I read somewhere that most American broken bank notes were in fact
checks (bearer checks). Would anyone agree or disagree with that?

I'd say that they were more like very elaborate IOU's.

On Sun, 19 Jun 2005 17:54:21 GMT, (AL)
wrote:


Hi
I read somewhere that most American broken bank notes were in fact
checks (bearer checks). Would anyone agree or disagree with that?

Would the same statement correctly apply to the 19th century
provinicial bank notes of England?

What about modern banknotes of the USA and Britain?
I think I heard someone say that a modern British banknote is in fact
a promissory note. Anyone comment on that?

What about a modern US dollar bill?

For both of the above and more, how about "worthless slips of paper
that everyone is convinced are money worth a
pound/dollar/euro/yen/etc"? At least for the USA, the time has long
since past when the paper dollar bore any connection with "real
money".

Padraic.

Thank you

Ricky C

la cieurgeourea provoer mal trasfu
ast meiyoer ke 'l andrext ben trasfu.

On Sun, 19 Jun 2005 21:48:47 -0400, Padraic Brown
wrote:


For both of the above and more, how about "worthless slips of paper
that everyone is convinced are money worth a
pound/dollar/euro/yen/etc"? At least for the USA, the time has long
since past when the paper dollar bore any connection with "real
money".

So I read in Jim Marrs' book "Rule by Secrecy"...

But what do you define as 'real money'? Gold, perhaps?

I'd still like the 'technical' answer to my original questions, if
anyone else can offer it.

Cheers,

Ricky C

On Mon, 20 Jun 2005 10:16:54 GMT, (AL)
wrote:

On Sun, 19 Jun 2005 21:48:47 -0400, Padraic Brown
wrote:


For both of the above and more, how about "worthless slips of paper
that everyone is convinced are money worth a
pound/dollar/euro/yen/etc"? At least for the USA, the time has long
since past when the paper dollar bore any connection with "real
money".

So I read in Jim Marrs' book "Rule by Secrecy"...

But what do you define as 'real money'? Gold, perhaps?

That would be pretty reasonable.

I'd still like the 'technical' answer to my original questions, if
anyone else can offer it.

The "technical answer" is staring you in the face. It says "Federal
Reserve Note" on it. What this means is that a bunch of people print
up a load of worthless paper, sell it to the government who then turn
around and tell _us_ it's worth x dollars.

Padraic.


Cheers,

Ricky C

la cieurgeourea provoer mal trasfu
ast meiyoer ke 'l andrext ben trasfu.

On Mon, 20 Jun 2005 10:16:54 GMT, AL wrote:


So I read in Jim Marrs' book "Rule by Secrecy"...

But what do you define as 'real money'? Gold, perhaps?

I'd still like the 'technical' answer to my original questions, if
anyone else can offer it.

This is a gentle read for some background
http://en.wikipedia.org/wiki/Gold_standard

Thanks
Darren

On Mon, 20 Jun 2005 21:52:38 -0400, Padraic Brown wrote:


The "technical answer" is staring you in the face. It says "Federal
Reserve Note" on it. What this means is that a bunch of people print
up a load of worthless paper, sell it to the government who then turn
around and tell _us_ it's worth x dollars.

The trick is to keep everyone believing that they remain worth x dollars.
http://news.bbc.co.uk/1/hi/business/1977804.stm

Thanks
Darren

On Tue, 21 Jun 2005 08:33:27 +0100, Darren
wrote:

On Mon, 20 Jun 2005 21:52:38 -0400, Padraic Brown wrote:


The "technical answer" is staring you in the face. It says "Federal
Reserve Note" on it. What this means is that a bunch of people print
up a load of worthless paper, sell it to the government who then turn
around and tell _us_ it's worth x dollars.

The trick is to keep everyone believing that they remain worth x dollars.
http://news.bbc.co.uk/1/hi/business/1977804.stm

Quite so!

Padraic.

Thanks
Darren

la cieurgeourea provoer mal trasfu
ast meiyoer ke 'l andrext ben trasfu.