Posted on 01/07/2012 5:49:28 PM PST by Libloather
U.S. Savings Bonds Go Paperless
January 4, 2012 10:30 PM
PITTSBURGH (KDKA) — U.S. savings bonds enclosed in birthday cards have been an American tradition for more than 70 years.
But from now on, purchasers will have to be computer savvy.
As of January 1, the U.S. Treasury declared that all bonds must be purchased online through the website www.treasurydirect.gov.
The buyer can download a “gift certificate” indicating the amount of the bond, and for what occasion.
(Excerpt) Read more at pittsburgh.cbslocal.com ...
What I was thinking - what is to prevent the Government from wiping out the database?
When you try and redeem the bond, they then ask you for your bond number.
You give it to them, then they say, "Nope, no such bond number ... Cyaaaa!"
i’ve been giving 1 oz silver coins to my nephew since he was 2. he has quite a few now. better then cash
and of course, there are always gold coins if you wish to gift those.
both would be better then cash. less likely to be spent and much more likely to keep value
Be careful what you wish for...Italy is trying to go paperless (any cash transaction over 1,000 euro is now illegal and their goal is 300 euro). Goal is tax cheats but here on FR we know that's just the beginning.
The I series are paying up to 8 per cent or so, depending on when they were issued. Not too bad.
I have a Treasury Direct account. They had a glitch the other day, locked everybody out for a day. Nice.
The marketable securities - (savings bonds can’t be sold, of course) there is no provision to sell them before maturity. That is, not Direct to the Treasury. They have to be transferred to a broker, that involves paperwork, bank official certification, etc.
If you want to buy short term securities and hold till maturity, it’s an OK setup. At least there’s no charge or commissions.
Why not go paperless? They aren’t worth the price of the paper anyway.
Silver Dollars make a very nice gift.
“In my mind’s eye (This is FR, so of course I am not going to read the article)”
Lol.
us savings bonds.. no longer worth the paper they are no longer printed on.
bttt
thats actually a really good idea thank you - for some reason i never thought of it despite occassionally buying silver coins for myself
thanks again
thats actually a really good idea thank you - for some reason i never thought of it despite occassionally buying silver coins for myself
thanks again
Good Luck! Safety First! :)
He was a smart man.
I realized many years ago that banks and savings institution never...never...never pay interest that is near “real” inflation rates...not the fake ones posted by the government for the lemmings to read. The worst thing is, on top of that statement, the government will tax you on any gain you make in the way of interest. How about that?
The only way to keep up with inflation in investments is to either be a genius at the stock market, pay cash for physical assets that don’t depreciate along with precious metals when they are at bargain prices. Another way is to be in small business for yourself like I am.
My investment is my business and it has paid off well over it’s 39 years of operation and will continue to do so until I pass away.
Retirement accounts, savings accounts, IRAs, Keogh, life insurance polices, and retirement systems are dangerous and are subject to instant failure (or seizure from the government) at an instant if the economy crashes. All will be wiped out...and it can (and most probably will in the near future) if we continue on the path to destruction set by our own government and governing body.
However, people will always need things, need repairs, or need equipment to perform their jobs. If money is not available, barter is.
Just food for thought.
I think the paper will be back again. People don’t like to give an empty envelope as a gift.
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