FINAL WARNING: Financial Background
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 accompanied
with a picture of the new $100 bill, featuring a larger portrait of
Benjamin Franklin which had been pushed to the right side of the bill,
and the Eagle in the center. The line “United States of America”
appeared along the top right, and the line “One Hundred Dollars”
appeared on the lower left, with the serial number being placed over
that. There was a conspicuous open spot on the left side of the bill,
very similar to the new currency in other countries, which some
researchers feared was being reserved for some future use.The institution of a common world-wide currency may be delayed
because of the possibility of moving right to a cashless system,
making paper money obsolete. The Visa MagiCard was the first step
towards a national debit card. With this card, you could make
purchases at any of the 10 million merchants who accepted Visa, and
have the amount electronically deducted from your checking account.
Financial experts said at the time, that within only a few years, there
would be more debit cards than credit cards. Since then, there has
been a massive campaign to promote debit cards, and a move to
accommodate their use in all areas of life.More and more banks have decided not to return people’s cancelled
checks, because of the expense to do so; and it seems likely that there
is a plan underway to gradually move away from the use of paper
checks. With the existence of debit cards, and the fact that credit cards
are so easily attainable, there’s no doubt that we’re being pushed into
an electronic economy of Direct Deposit and Automatic Withdrawal.