That means a Senate vote on the China currency bill is unlikely to happen.
Another was to use foreign currency: the bank could lend, or accept a bill of exchange, in one currency and collect its debt in another, building a hidden rate of interest into the exchange rate.
The GAO speculates that the dollar coin might cause a renewed interest in that black sheep of the currency family, the two-dollar bill (which features Thomas Jefferson).
Even as Paulson discusses tax issues with corporate leaders Thursday, the Senate Finance Committee will be marking up a bill that calls for greater oversight of currency exchange rates.
But the immediate bill for a break-up of the single currency would surely be in the trillions of euros.
With magnifying glasses, tweezers, scalpels and many gallons of disinfectant, the mutilated-currency specialists can spend up to two years analysing a single bill.
It didn't get much of a workout, but Iridium also has one of the world's best computer billing systems, capable of authenticating calls across the globe, handling currency conversions and roaming charges, and settling international accounts on a single bill.
Under a Dollar Bill system, the monetary base consists of fiat dollars (both currency and bank reserves) created by the Federal Reserve.
Every time you make an international transaction like this, the foreign currency has to be converted to US dollars in order to be charged to your monthly bill.
That will lead to currency crises and cross-border disputes like the current spat between Iceland, Britain and the Netherlands over the bill for compensating depositors in Icelandic banks (see article).
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