They have, at least temporarily, demonetized Federal Reserve Notes,, by substituting chips. |
If gold was really to be demonetized, then the enormous stocks relative to flows would have to be dissipated first through consumption. |
In an economy that only three years ago was as demonetized as Cambodia under the Khmer Rouge, people are now allowed to fix bicycles, repair shoes and sell sundries at sidewalk stands. |
When Congress demonetized silver in 1893, the town was largely ruined, and the current renaissance did not begin until 1937, when the first ski train arrived from New York. |
Finally, Malic said, starting January 1, 2017, demonetized banknotes will no longer have monetary value. |
The dollar remains a stable currency backed by a highly productive economy with low inflation and by the assurance that it will not be demonetized, recalled, or devalued. |