Might these guys rescue the US dollar? Monday, March 17, 2008
Since 1862 the Mutilated Currency Division of the Bureau of Engraving and Printing has pieced together partially destroyed American currency. So long as 51% of a currency note remains and can be proved genuine, the US Govt will refund its full value. In 2006 the currency forensics handled about 20,000 cases and sent out cheques worth $66m.
source The Economist, 23rd Feb 2008, book review of "Biography of the Dollar: How the Mighty Buck Conquered the World and Why It's Under Siege" by Craig Karmin.
Given the mutilation of the dollar's value recently, one wonders if this US Government department will be facing an avalanche of work from the currency markets or is it the case that there's less than 51% left?
posted by John Wilson @ 5:17 PM Permanent Link
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