Identification and verification of intangibles in the context of border enforcement poses logistical and potential legal issues that are not contemplated by currency and monetaryinstrument declaration regulations.
To get a better handle on how many U.S. dollars are outside of the U.S., the U.S. Customs Service tracks information on cross-border flows through its Currency and MonetaryInstrument Reports (CMIR).
Over-payment fraud, the victim receives an invalid monetaryinstrument with instructions to deposit it in a bank account and send excess funds or a percentage of the deposited money back to the sender.
The federal funds rate is considered by most as the single instrument of monetary policy, now that everyone seems to have forgotten about money growth as a more important instrument and measure.
Since World War II most countries have regarded monetary policy as a critical instrument (the other biggies being government spending and taxation) in regulating the economy.