Didn t want to suggest the U.S. would ever default on its own currency. Didn t want to acknowledge the size of the counterfeiting problem. No, Uncle Sam could take the high road , knowing that Big Daddy and the rest of the world would inevitably enforce Gresham s Law. Only you feel too stupid to ask. So I ll tell you.
Good money drives out bad.
Good money drives out bad. Especially in places like Russia, where the soundness of the money is not taken for granted. You fear that in time people will not accept them, so you want to exchange the old ones for new. Maybe you just go to your friendly banker, who in turn remits the old bills to his central bank which remits them to Washington to be exchanged. In Washington, they re shredded for novelty items .