NEW WEB FOR TRANSFERRING MONEY 上市 Deposited
The E-Sylum: Volume 7, Number 33, August 15, 2004, Article 14
NEW WEB FOR TRANSFERRING MONEY
Dick Johnson writes: "The Federal Reserve has developed a
new internet-based system to move money around. But this
money is debits and credits ? not coins and currency of
interest to numismatists.On an average day the Fed transfers $1.8 trillion this way.
This is more than twice the $675 billion of total U.S. coins
and currency in circulation (as of last count, December
2002).An article in the August 15, 2004 New York Post, writer
Hilary Kramer tells about the Fed?s new web plan. It?s
called FedLine Advantage. Previously it did all this on a
closed, stand-alone, Microsoft DOS operation system
computer network, which is said to be outdated. The
article discusses the obvious security concerns.Of concern to numismatists is the growing tendency of
money transactions away from traditional forms we collect.
Are we destined for a coinless, currencyless money system?The article can be found at: Full Article
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