Trevor J. Murphy
Libya Phases Out Gaddafi Banknotes
Last month, the Central Bank of Libya began the process of withdrawing their old banknote series that depicted the image of former Libyan leader, Muammar Gaddafi. Saddeq Omar Elkaber, governor of the central bank, said a new series was being printed to replace the old notes. This replacement process started with the 50 dinar note, [...]
Bristol Launches Independent Currency
Traders in Bristol, UK have announced this week they will be launching their own local currency, independent of the British Pound. The Bristol Credit Union and the Bristol Pound Community Interest Company (CIC) are at the helm of the project and anticipate that the new currency will be available by May 2012. The initiative to [...]
US Senators Call For Abolishment of $1 Banknotes
Two US senators have introduced a bill that, if passed, would see the abolishment of the $1 US banknote. Democratic senator Tom Harkin and Republican senator John McCain introduced the legislation last week calling for $1 banknotes to be replaced with $1 coins. “By moving from the costly dollar bill to the dollar coin, we [...]
Thailand Introduces New Banknote Series
The Bank of Thailand introduced the first banknote in their new series this week. The new 50-Baht note remains similar in size and colour to the old version, but like the rest of the notes that will be released over the next several years, it also contains increased security features. Among existing features, the new [...]
Thai Opposition Party warns government on Currency policy
Politicians in Thailand’s opposition party are warning the government not to force the central bank to print extra currency to cover the country’s public debt, saying this process would simply turn banknotes into “worthless paper.” In their proposed 2012 fiscal plan, the Thai government is attempting to borrow Bt400 billion to finance the budget deficit [...]
St. Kitts and Nevis Introduces Electronic Passports
The government of St. Kitts and Nevis began issuing new electronic passports with heightened security features to citizens of the Carribean community this week. Electronic passports contain a small electronic chip – an RFID chip – embedded in the cover that contains key information about the passport carrier such as their name, gender, date of [...]
Euro Celebrates 10-Year Anniversary To Little Fanfare
January 1, 2012 marked the 10-year anniversary of the euro, a singular currency that services 17 countries throughout Europe, but there is little to celebrate. Marred by what the European Commission deemed “fiscal and macroeconomic imbalances built up over the decade,” many financial analysts say the euro is in trouble. Countries such as Ireland, Spain [...]
Russia To Bring Back 10 Ruble Banknotes
Two years after withdrawing its 10-ruble banknote in favour of a new coin, the Bank of Russia announced this month that it would once again be printing the notes and putting them into circulation. “In the fourth quarter [of 2011] we once again began printing the paper 10 ruble note, as banks had begun to [...]
$1M Worth of Bogus Bills Seized in BC
RCMP in Richmond, B.C. seized more than $1 million in fake Canadian $100 bills yesterday breaking up one of the largest counterfeit rings ever in the province. The bogus bills were being produced in an apartment mostly with an inkjet printer. When the RCMP arrived to raid the apartment, the process of manufacturing the bills [...]
European Central Banks Look For Contingencies Should Euro End
Central Banks in Europe reportedly evaluating contingency plans for additional printing capacity should the Euro come to an end. According to an article published by RT.com, central banks throughout Europe are preparing contingency plans evaluating their needs for additional printing capacity should the euro – a singular currency shared by seventeen countries – come to [...]
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