currency

Pleased to “Meet” You!

09.21.2009

I’ve been working in currency management since 2001 and although my last year at TowerGroup has allowed me to branch out (pun intended) into new areas, I’m always excited when I get a chance to write a research note or give a presentation about currency management. It’s my warm blanket on a cold day – my comfort zone – so I’m thrilled to have an excuse to spend time on it on a regular basis.

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reduce, reuse and recycle!

07.07.2009

We have all heard the litany of requests from governments, eco-agencies and individuals as they call for the mobilization of the individual to assist in making the planet a healthier place to live. So how does this apply to the currency management supply chain? Interesting question – and one that (surprisingly) has an answer.

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the new single regulator for banks

06.17.2009

Don’t hold your breath just yet, but I think the US Administration may be getting ready to announce the new primary regulator for the banking industry – the Federal Reserve! There are also a few more moves being telegraphed ahead of tomorrow’s announcement.

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banking on tomorrow in the US – sole-source policy control

06.02.2009

According to a number of stories in recent media (new an traditional) the US Treasury with support from other concerned interests is about to propose what could amount to paradigm shift for the banking industry. According to reports, Treasury Secretary Timothy Geithner and others will be sponsoring a proposal to Congress for the creation of a new government agency whose responsibility will be as the ultimate and only banking sector regulator.

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when is a note or a coin like a seat on a commercial aircraft?

05.21.2009

I could think of a few cute answers to that question, which surely would not suit this occasion. The relevant answer is that both the seat on the plane and the note/coin, cost someone more than their intrinsic value* to provide for your convenience right when you need it. In other words it is a thing of relatively high value, which we need on demand.

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economic recovery – the neighborly way!

05.04.2009

Many years ago I worked in the broadcasting industry, spanning media to include both radio and television. A good friend of mine was and is the sole regional source for a smokin’ hot local market retail promotion call the 69 cent dollar. The basic concept is that a group of local retailers sells scrip in the form of a copyright protected scrip ($.069 cent dollar) for which they pay $0.69 but which is worth a full dollar at any participating retailer. In this case a focused marketing effort with creative use of radio, television and/or other guerilla media opportunities. The 69 Cent Dollar promotion is wildly successful in the right kind of market and yet sometimes delivers less benefit than expected in others. There is much science, with liberal doses of marketing voodoo that can be used to define a good target city from a bad one.

Therefore, in the category of “I’ve now almost seen it all” comes a story first passed to me by a mentoring muse and thought-provoking bon-vivant at “big-bank”. Given my past experience I can tell you with some modest amount of confidence that this “promotion” is hardly that and yet has a huge amount of potential for short-term benefit to certain communities that are faced with sector-related economic strife.

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virtual currency – second life and the linden dollar debate

04.29.2009

We all live in a world where hard currency is a basic necessity, notwithstanding the attempts by many alternate payment forms to displace it’s pervasive use. What I find truly fascinating however is the growing on-line use of virtual money. I am sure that most of you are familiar with PayPal as one of the [...]

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world currency – how about linden dollars?

04.22.2009

North America has seen its fair share of debate and argument over the years on the subject of a harmonized currency. I have yet to find anyone other than an economist that is for that idea. So much of a nations identity is defined in the color, size and design of their currency that I can’t imagine any country voluntarily disposing of their notes and coins. Until the Euro came along. Next to the US, I expected Europeans love affairs with their scrip to be so zealous that they would never consider a change – but switch they did, with only the mildest public objections.

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do-it-yourself cash

04.16.2009

Utah County officers bust counterfeit money operation
April 14th, 2009 @ 10:00pm
By Sarah Dallof
UTAH COUNTY — Investigators in Utah County have broken up a counterfeit money ring; one they believe has been printing fake bills for as long as six months.

Take a hair dryer, a flat iron, green ink and a printer, and what do you have? According to Lt. Phil Murphy of the Utah County Major Crimes Task force, “You’ve got somebody that was attempting to print $50 bills using cheap, inexpensive methods.”

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when you don’t have it, print your own!

04.14.2009

Task Force Arrests 5, Seizes Printing Presses Used To Print Fake U.S. Currency

WASHINGTON, D.C., April 14, 2009

(CBS) The U.S. Secret Service announced the arrest of five people and the seizure of $8.4 million in counterfeit U.S. currency, as part of a bilateral effort to combat a rise in the spread of fake $100 bills.

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Could Retail “Cash Back” Scheme Be The End of Retail Bank Deposits?

04.12.2009

cashback For quite a few years I have been enjoying the benefits of retailers offering “cash-back” whenever I use my debit card. The benefits to the consumer are obvious as it reduces the number of times I need to visit an ATM machine on a monthly basis. I am sure that the concept of cash-back is [...]

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controlling counterfeit – india

04.12.2009

Bhuvanesh Pandya, a small sweetshop owner in Mumbai’s distant suburb of Mira Road, has just invested in a currency detection machine after his business was hit by a barrage of fake notes. With his local bank impounding the fake currency notes each time, Pandya decided to buy a currency detector, normally used by banks and treasuries. As the economy gets flooded with fakes, these machines are the only saving grace for small businesses like petrol pumps and local corner shops across the country as India reels under the onslaught of fake Indian currency notes.

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printing for hyperinflation

04.11.2009

HARARE – Reserve Bank governor, Gideon Gono has admitted the central bank money printing machines have become overwhelmed by the persistent demand for new bank notes.
Gono said Fidelity Printers, government’s minting company, can only churn out two million notes per day and was thus unable to print lower denomination notes, which are in short supply in Zimbabwe.

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