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Old 08-02-2014, 09:04 PM   #1
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$50 Bills, Iridium, BTC app for iPhone

...

About a year ago, our local ATM changed the amounts on the FRNs that it spits when I get the PIN right... I almost always pull $500 out when I visit the ATM (hey, gold is expensive!), and the machine changed from giving me all $20 dollar bills (25 of them) to giving me eight $50s and five $20s.

I wondered at my blog (and maybe here at pmbug.com, I believe I did) whether other people were seeing this kind of thing too. Some got back to me and said yes they were. (In Italy, many ATMs have long emitted 50 euro notes as well as 20s in the same transaction).

So, yesterday I went to CVS and bought some items totaling around $23.00. I did not have a $20 and enough smaller bills to pay there at the "checkout machines", so I asked the nearby gal if the machines would take a fifty... Yep, they did.

They are lying about inflation! In today's Barron's I noted that Currency in Circulation (figures from the Federal Reserve) is up 6.8% vs. last year (which to me is a reasonable definition of inflation). Other numbers from the Fed ("assets" on their Balance Sheet) show a 23% growth (essentially ALL of it from purchases of Treasuries...). So, 6.8% is likely a minimum.

Next time I go to CVS, I will ask if they are now taking $100s...

***

SEE the pretty picture of IRIDIUM that I recently received as well as a brand new source for iridium (but for $1595 -- extremely high price), it does come in a nicely marked ingot.

***

Apple finally broke down and worked out a deal with blockchain.com (owned by blockchain.info) to finally allow a Bitcoin app fro their iPhone. They had resisted for a long time, rumor had it that Apple wanted to invent their own cryptocurrency...

Well, now I have the app installed in my old iPhone 4S, it did require an OS update, but so what (I made AT&T do it, ha ha ha).

So, inflation is here, and while IRIDUM and a Bitcoin app for iPhone are not much of a defense, well, at least they are interesting!

"$50 Bills, Iridium, BTC app for iPhone"

http://goo.gl/5v5eKZ
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