Zero Dollar Bill

Hi everyone

I thought of this class when i saw this so i decided to share =)

http://news.yahoo.com/nphotos/Zero-Dollar-Bill/ss/events/bs/100808zerodollargilb

Tribal Gaming and Gambling

Calvin Cheung
Melissa Flores
Angela Khai
Ali Sander

The dictionary definition of gambling is “to stake or risk money, or anything of value, on the outcome of something involving chance.” This risk and the adrenaline rush that comes with it, has been a part of people’s lives for thousands of years. Evidence of gambling, such as ancient dice, has been found from ancient China, Egypt, Greece, and Rome. It was first brought to the United States in the 1600s when the English colonies were established. The first types of gambling were lotteries and betting on horse races. Casino gambling with dice and card games was not fully established and accepted until the 1800s. However, scandal and cheating by professional gamblers was prevalent, and this eventually led to gambling prohibition in some states. Click here to learn more about the history of gambling, and the experience of gaming in one of California's Indian casinos.

The Tontine

Belinda Uy
Jenny Lien
Tanya Kim

Q: Why do people take part in a tontine?

A: For money.

Q: Well, is there a special reason? Or is that the only reason?

A: We need money. That’s it.

Q: For bills? For anything in particular?
A: For getting money. That’s it! Simple. We need it. We get it.

Does anything dealing with money simple? In this capitalist society money ensures survival. Without it, some of life’s rewards, luxuries, and even necessities shall be denied. Money as the American cultures knows it; is one, if not the, facet that determines one’s status in life. However, a practice a few centuries old, have allowed people to accumulate riches. That practice is named, tontine. Tontine, in its purest form, really does bring truth to the statement that time truly does mean money. Those who come together for a tontine all share and invest their riches, but after time passes, the last person in the pact, gains all the money. To better comprehend tontine, its history must be understood. The history reveals the origins of the scandals and deceit tontine has bestowed upon the world. Its dramatic past only confirms the varied and complex behaviors that money has over people. Along with the many reactions, also comes with the many forms of tontine. This paper shall showcase the Cambodian Tontine and divulge the intricacies within it. The Cambodian Tontine allows people to realize that the evolution and goals of tontine varies within every culture and even with every group that takes part in one. It is a reminder that certain traditions, customs, and practices can not be forgotten, but certainly modified. Click here to learn more about tontines.

Tipping

Gianna Linnert
Angelina Fierro
Debbie Anderson
Angela Cheng
Daniel Jimenez
Janali Torres

Despite it being commonplace, there is an air of ambiguity within the current tipping culture in Orange County. This ambiguity is best demonstrated when these current tipping practices are juxtaposed to tipping practices of different countries and/ or different eras. The current tipping practices remain unchanged through time and cultures in the duality of being both personal and impersonal because of monetary exchange for services. The following history and interviews explore how the tipping practices, specifically at restaurants, can and have been personalized and whether or not this personalization should occur. The interviewees in this collection of ethnographic accounts are individuals who are either senior citizens or recent immigrants, selected in order to gain a perspective of current tipping practices in Orange County across different cultures and periods of time. Click here to learn more about tipping practices across time, space and culture.

Recycling and Cash Redemption Value

Nancy Hagan
Raquel Gutierrez
Subhana Nisar
Jeff Schauer
Walter Wu

Money can set you free. Money can imprison you. Or, it can do both simultaneously. The drastic range of reactions to the entity which permeates our lives (money) demonstrates its plurality, and its conceptual existence, parallel to (but often-overlooked in everyday life) its entrances and exits from our wallets. From Georg’s Simmel’s early twentieth century tract on “The Philosophy of Money,” to the musings of a twenty-first century former-cab driver at an Albertson’s car park, opinions on money run the spectrum. However, not all uses of money are straightforward transactions in the way that we often think of them. The practise of recycling provides a framework for analysing not only different uses of money (and ways of obtaining it), but different conceptions of it as well. In the course of several interviews, and a tour of a recycling centre, we gained some insight into how people view the money behind recycling, in the form of the California Redemption Value (CRV) deposit, and were able to explore their rationales for partaking in activity that is both obviously global and intensely local. Recycling and its corresponding hidden monies can keep individuals or families in neighbourhoods from total destitution, but can also generate international concerns over labour exploitation. Recycling relates to locally-based initiatives, but also to the international “green movement”. A diverse range of experiences puts recycling, CRV, and money into perspective. Click here to learn more about CRV and the strange economy of recycling.

The Money of Love

Kelly Forster
Debby Blumenthal
Saba Arastu
Paul Lee
Shelley Dutt
Claire Hayati

As a group, our aim was to figure out whether or not money can buy love in person, or more recently, via the internet. We explored various avenues such as culturally general matchmaking services, culturally linked online dating services, general online matchmaking services, as well as mail-order brides. We found that money can buy love in some situations, but chemistry comes from within and not from a dating service. Click here to learn more about modern-day matchmaking.

The Wedding Dollar Dance: Monetary Practices at Wedding Receptions

Janis Martinez
Ana Urzua
Magaly Guerra

“Will you take this dance to be in your wedding?”

A wedding checklist can include such things as; facility, decorations, flower arrangements, bartender, caterer, but in addition many couples have to decide if they want to include the “Dollar Dance” in their wedding reception. “Dollar Dance”, “Money Dance”, “Bridal Dance” or and “Apron Dance” are various names for this very popular custom performed in many wedding receptions all over the world. The origin of the dance is credited to Poland in the early 1900’s by most sources but there is not solid evidence that verifies the specific location where it originated. The concept of the “Dollar Dance” is that male guests asked for permission from the groom to dance with his bride by “paying” for the privilege and the female guests pay for the privilege to dance with the groom. The guest form one line for the groom and one line for the bride, usually the best man and maid of honor are at the head of each respective line to help collect the money. The father of the bride would lead the dance by pinning money on her dress, followed by the best man and groomsmen and then other male guest. On the side of the groom, his mother will reciprocate by pinning the money on his suit, followed by the maid of honor and bridesmaids and other female guests. As tradition goes, the money collected should be used by the newlyweds as extra cash for their honeymoon or to set up their household expenses. Our research explores the differences of the “Dollar Dance” in various cultures, the significance of gift money and gender in the dance, as well as the critiques and benefits that take place. We conducted interviews on individuals from the Punjabi and Mexican culture to find out the significance of the “Money Dance” in their culture, the personalization or depersonalization of money in their customs, the importance of gift exchange in their social life and how the dance has evolved throughout the years. Click here to learn more about the wedding dollar dance.

Credit or Debit?

Ann Medina
Jamie Luong

Within our society today, there are many ways to make a payment. Purchases are made during every moment of the day and many have opted for an alternative solution to paying for goods and services other than cash, such as with credit and debit cards. Both have many meanings within our society, and have different positive and negative connotations that are based on the influences of age and class. The existence of debit and credit cards has made a definite impact within our society economically, socially, and politically. These cards are often a substitute for cash. They have quickly become widespread all around the world. Click here to learn more about people’s everyday experiences of and ideas about the differences between credit cards and debit cards.

Sting Operations: The Dirty Side of Your Dollar

Nick Rockoff
Erica Christensen
Chris Gutierrez
Kalpan Patel
Brett Kohout
Emre Gurol

As a man dressed in all black approaches the target, officer Hoyt whispers into his microphone, “Everyone stay put until the transaction has been made.” The man quietly removes a couple of hundred dollar bills from his wallet, and offers them to an unsuspecting drug dealer. The drug dealer casually reaches into his pocket and reveals a plastic bag containing a white substance, offers it in exchange for the money, and walks away. Five seconds later, police sirens sound and the man is quickly subdued, handcuffed, and arrested. What this unlucky criminal was unaware of was that the man dressed in all black was, in fact an undercover officer, and that he had unknowingly been the target of a “sting operation.” For over 40 years, modern law enforcement agencies have been using sting operations to catch criminals in the act. During this span, agencies have devised hundreds of different ways to mimic real life situations in hopes of learning about and preventing different types of crime from occurring. Click here to learn about how law enforcement uses money to catch criminals, and how criminals use money to try to hide their tracks.

Barter: Let's Trade!

Dominic Adam
James Grant
Jon Heston
Connie Hsu
Brandon Nguyen
Alice San

Barter and Trade

Barter is better defined by what it does rather than what it is; it allows agents to create value. Not necessarily value from fiat, but value from negotiation, bargaining, comparison, turmoil, haggle, and stress; all forms of labor and personal interaction. However, barter has one requirement—a double coincidence of wants (Hayashi, 1994). And from this stance we can presume that the earliest encounters with trade and bartering occurred when people first created items and wanted other items. What better place to start an exploration of barter than with the ancients of 500 B.C. Click here to read the complete paper, including a barter experiment on Ring Road that turned a pile of junk into $248 worth of goods and services.

Roads and Highways will go Private, thanks to Iraq War

from Wired Magazine [and Tanya!] Full article here.

At the outset of the Iraq war, the Bush administration estimated that it would cost roughly $50 to $60 billion to oust Saddam Hussein and set that nation on the road to democracy. Five years later, the price tag is $600 billion and counting. As the economy sours, it becomes clear that one overlooked casualty of this war will be America's creaking infrastructure.

Free markets may be the only way to save the nation's roads and highways. They might even be the best way to save them. The Department of Transportation, under this Administration, has made no secret of its desire to lease highways to private companies, to use tolls and congestion pricing, to auction off fast access to those willing to pay and to otherwise let free markets drive transportation. Under this view, breaking up the government monopoly on transportation could lead to innovation and more choices for the public. Let those who use a resource pay for it, without burdening everyone else with the costs. Let the pain of price ease gridlock. It will reduce both fuel consumption and emissions. Heck, it might even drive down your insurance premiums.

Designer credit cards compete for wallet share

Credit cards are turning arty. Card issuers are trying to catch the eyes of customers with innovative designs, as the entire industry is in a fierce battle for a bigger piece of the credit pie. Kookmin Card this week unveiled a card with its front covered with a leather-like pigment. The design upgrade will be applied to its KB Star Card product set to debut next week and it will have two types: ostrich and crocodile.

http://joongangdaily.joins.com/article/view.asp?aid=2886836

Gold plummets as dollar inches higher

The precious metal loses some luster as signs of economic recovery draw investors to more risky investments.

NEW YORK (CNNMoney.com) -- Gold prices tumbled Wednesday, as the dollar regained strength, to sink nearly $100 below its record high set Monday - leaving some traders wondering if this is the beginning of the end for gold's impressive run.

COMEX gold for April delivery fell $59 to settle at $945.30 an ounce Wednesday. Gold had set an intraday record of $1033.90 Monday.

Gold began to slide shortly after the Federal Reserve cut interest rates Tuesday by 3/4 of a percentage point, instead of the full percentage point that some market participants had expected.

The dollar, which has hit a series of record lows, began to advance against the euro in response to the Fed's announcement. Normally, interest rate cuts depress the value of the dollar. However, since the cut was less aggressive than many expected, the greenback benefited.

"It looked like the sky would fall, which is why we got up to those record levels Monday," said Jon Nadler, senior analyst at Kitco Bullion Dealers in Montreal. "But when the dollar started a bit of a gain this morning, people pulled the trigger across the commodity board."

Gold is priced in dollars, making it an attractive investment for overseas buyers. But if the dollar begins to strengthen, investors from overseas markets are more likely to sell their gold.

Moreover, gold's reputation as a safe-haven investment, one that holds value in times of economic volatility, contributed to the metal's record-breaking run.

'A major shift in psychology'

Buying gold and other commodities like oil and wheat is seen by many as a way to hedge against inflation, which has also helped support the gold market recently.

As the dollar continues to post gains against the euro, some analysts think gold is heading south after growing nearly 40-fold since its trough of $253 in August 1999.

"If gold drops below $915, it will represent a major shift in psychology," said Nadler, who believes gold could fall to about $850 in the next week.

With lower mortgage resets, the upcoming elections - which tend to boost the dollar - and the coming seasonal lull for gold, Nadler sees gold slipping to around $650 to $750 in the summer.

"That represents a good equilibrium level for gold, as jewelers will be able to sell gold again," he said.

Still, some analysts think Wednesday's selloff is largely a hiccup - a temporary reaction by speculative buyers to changes in the economic climate, which can dramatically impact on the price of gold.

"When you are operating in a heavily overbought market, corrections like the one we're seeing today are very easy to have," said Nicoals Kavalis, a senior analyst at precious metals consultancy GFMS.

Kavalis notes that the recent run-up in gold prices has been supported by speculative buying. "It's not hard for that 'hot money' to move out of market [when conditions change]," he added.

Religion and money: Islamic finance

Asma Hanif18 Mar 2008

Islamic finance is on the rise in what in many parts of the world can be called an anti-Sharia age, and it has been proven compatible with Western financial systems and legislation. But challenges have still to be faced.
Although implementation of Sharia law often sparks deep controversy in today's world, it seems that finance is a subject where the "Islamization process" spreads at great speed, but with least objection.Islamic finance is estimated to manage nearly $500 billion. A recent report by Moody's, a New York-based company carrying out financial research, suggests that the amount has annually risen by 15% over the past three years and predicts an excellent prospective for the coming years.

link: http://religion.info/english/articles/article_371.shtml

Green Cars for Those with Lots of Green

http://www.businessweek.com/lifestyle/content/mar2008/bw20080318_075883.htm?chan=autos_lifestyle+index+page_top+stories

Can luxury have a conscience? Plenty of research says more and more luxury buyers want a car that is environmentally friendly. And slowly, carmakers are trying to capitalize on it.

Will the US remain US? Or become a neo-USSR?

The population of derivative products has grown to gigantic levels that is beyond the competence of any system, mind, or force to deal with.

S. Gurumurthy

The title is not to tease the reader. If the ongoing debate initiated by Martin Wolf, associate editor and chief economic commentator in Financial Times and Prof. Nouriel Roubini, professor of economics at New York University, is to be given a title, that could be this.
Wolf, whose Wednesday columns in FT are discussed by fifty most influential economists of the world, is a mainline economic thinker. Roubini, who has held different positions in US government, now occupies important seats in academia and runs Roubini Global Economics [RGE] Monitor, an influential Web site.

link: http://www.thehindubusinessline.com/2008/03/19/stories/2008031950080900.htm

Money for nothing -- the allowance question

We decided a while back that it might be a good idea to teach our kid about the value of money and responsibility and saving by giving her an allowance. The Bank of Me, Husband and Co. decided to bestow the generous sum of five dollars a week on said child, after taxes. The allowance, we agreed, would not be contingent on chores or household participation (those she just has to do for the joy of doing them) and we'd sit back and watch her grow into a fiscally responsible human being.

link: http://www.sfgate.com/cgi-bin/blogs/parenting/detail?&entry_id=24973

Wall Street chaos: How to plan your money

Planners advocate prudence - and a cash cushion - to get you through volatile times.
By Jeanne Sahadi, CNNMoney.com senior writer
Last Updated: March 18, 2008: 5:01 PM EDT

NEW YORK (CNNMoney.com) -- The phrase "run on the bank" is really something you never want to hear. Yet that's what best describes Bear Stearns' swift demise - and it has caused investors to wonder if such a run could happen elsewhere.
From the average person's perspective, it's a little hard to know how worried, if at all, to be about your money right now.
While certified financial planners are concerned about the financial news coming out of Wall Street these days, they are far from running scared on behalf of their clients. In fact, they're still encouraging them to stay invested in a well-allocated portfolio.
But they do see value in taking certain prudent measures - many of which make solid sense even when the financial markets aren't as rocky as they are now.
Consider the money you've got in the bank. The Federal Deposit Insurance Corp. will insure your money in checking, savings, certificates of deposit and money market deposit accounts up to $100,000. That's per depositor, per institution. In some instances, you may qualify for more coverage, but generally speaking $100,000 is the cut-off for deposit accounts.
So if you have more than $100,000 combined in all your accounts at one bank, you might consider moving some of it to another institution. "That's a good general rule of thumb," said Jim Whiddon of JWA Financial Group in Dallas.


Link: http://money.cnn.com/2008/03/18/pf/bear_stearns_fallout/?postversion=2008031817

State rep pleads guilty to money laundering

By BILL RANKINThe Atlanta Journal-ConstitutionPublished on: 03/18/08
State Rep. Ron Sailor on Tuesday pleaded guilty to laundering what he believed to be $375,000 in drug money for an undercover officer posing as a drug dealer.
Sailor, 33, a Democrat who represents parts of DeKalb and Rockdale counties, agreed to resign his position in the legislature. Shortly after his arrest three months ago, Sailor admitted his wrongdoing and began providing information for a public corruption investigation.

"It is an active and ongoing investigation," U.S. Attorney David Nahmias said after the guilty plea. Sailor provided "useful information in opening windows into public corruption we were unaware of before his cooperation."
Sailor was arrested by federal agents at a metro Atlanta hotel on Dec. 19, after taking what he believed to be $300,000 in cash from a drug dealer, who actually was an undercover officer.
Sailor entered his negotiated plea before U.S. District Judge Jack Camp, who will sentence Sailor on May 22. Sailor faces a maximum sentence of 20 years in prison but is expected to get credit for his cooperation with authorities, his lawyer, Bruce Maloy, said after the plea.
Money laundering involves structuring financial transactions to conceal the source of funds.
"I was desperate for money and in my desperation I did business with a person I believed was a drug dealer," Sailor told Camp in court. "I offered to launder money for this individual to make money for myself to try to get out of debt. ... I have tried to make amends for my conduct."
In a joint statement, House Minority Leader DuBose Porter (D-Dublin) and House Minority Caucus Chairman Calvin Smyre (D-Columbus) said, "Our credibility and trust is all we have, and it's sad when that trust is broken. This is an unfortunate matter where the public trust is broken."
Smyre said he and Porter learned about the plea before the General Assembly convened Tuesday. "It's something that pains all of us," Smyre said.
"I am disappointed in the bad decisions made by Representative Sailor," House Speaker Glenn Richardson said. "The House of Representatives does not condone his actions."
http://www.ajc.com/news/content/metro/stories/2008/03/18/sailor_0318.html

Chavez Proposes Oil Barter Scheme

Chavez proposes oil barter scheme

Hugo Chavez's Venezuela is a close ally of Cuba

Venezuelan President Hugo Chavez has said Central American and Caribbean states could pay for oil with services or products like bananas and sugar.

http://news.bbc.co.uk/2/hi/americas/7155706.stm

from Shelley

Markets Rattled by Bank Worries

http://news.bbc.co.uk/2/hi/business/7300017.stm
from Shelley -- follow the link!

Counterfeiters Caught Passing Phony Bills at Riverbank Target

Link to Article
Link to Video

Police: Counterfeiters Caught Passing Phony Bills at Riverbank Target

Written by Elizabeth Bishop, Senior Internet News Producer

---

Valerie Craven Clay Roberts Michael Keys

RIVERBANK, CA - Three Riverbank residents have been arrested for allegedly printing and passing phony $100 bills.

Valerie Craven, Clay Roberts and Michael Keys, all in their 50s, were arrested Thursday, according to Mark Copeland with the Stanislaus County Sheriff's Department.

Sheriff's investigators said the bills were passed at the Target store in Riverbank where Craven was a clerk. On three occasions, Roberts, who is Craven's boyfriend, bought items with the fake $100 bills and paid for them at Craven's counter, Copeland said. Craven also paid off a Target credit card with fake $100 bills, according to Copeland. Investigators said they used store video to help track the counterfeit money back to Craven and Roberts.

Copeland said a close look at the counterfeit bills showed they were not the real thing. "They have a different texture and the color's off," he said. "The borders are blurrier because they're photocopying it."

Copeland said another tipoff was the fact that many of the bills had the same serial number on them because they'd been photocopied from the same real $100 bill.

Friday, investigators put on display items they seized, including as much as $30,000 worth of phony $100 bills, a computer, printers, ink, and cutters.

New $5 Bills Set to go into Circulation

by JEANNINE AVERSA, AP Economics Writer Thu Mar 13, 4:00 AM ET

WASHINGTON - Abraham Lincoln is getting a little color in his cheeks.

New $5 bills bearing the gaunt visage of the nation's 16th president — but with some touches of color added — are making their way to banks and cash registers near you.

http://news.yahoo.com/s/ap/20080313/ap_on_go_ca_st_pe/new_money

[from Tanya!]

Elephant among odd college donations

CNN.com - full article

Income and Happiness: An Imperfect Link

from The New York Times - click for full article

By ROBERT H. FRANK

Published: March 9, 2008

DOES money buy happiness? This week, Senator Byron Dorgan, Democrat of North Dakota, will join a long line of people who have taken serious stabs at trying to answer that thorny question. He will hold a hearing exploring whether traditional economic measures like per-capita income accurately capture people’s sense of well-being.

David G. Klein

This has long been a contested issue. Although everyone concedes that income is an imperfect welfare measure, conservative economists have tended to emphasize its virtues while liberals have been more likely to stress its shortcomings.

[posted for Melissa!]

Banks Springing Up to Serve the Underserved

from The New York Times (click here to read full article)

By LIZ GALST

Published: March 8, 2008

AT first glance Raleigh, N.C., may not seem like a logical place to open a Latino-oriented bank. After all, Raleigh is not a city like Los Angeles, for instance, where more than 47 percent of the population is Hispanic.

Jenny Warburg for The New York Times

David Flores, left, chief executive of Nuestro Banco saw an opportunity to offer special banking services like check cashing for immigrants and small-business loan applications in Spanish.

Jenny Warburg for The New York Times

Nuestro Banco opened in September in North Carolina.

But David Flores, a former senior vice president at Chase Manhattan Bank, looked at the skyrocketing Hispanic population in North Carolina — from 1990 to 2006, it rose to 593,385 from a mere 76,726 — and saw a business opportunity.

Hats Off-Who Needs Money?

from the London Telegraph (click for full story)

Last Updated: 12:01am GMT 08/03/2008

Is bartering the answer to the credit crunch? Lucinda Labes on a modern version of an old way of trading

I am in a bakery, collecting a cake that is nearly the size of my toddler. It is red, shiny and looks like Postman Pat's van. It should pass muster at the birthday party next week. But, best of all, I'm not handing over a penny.

	Exchange and smart: Lucinds Labes tries on hats with Richmond milliner Mary Spiteri, who is pinning her trade hopes on the Bartercard scheme

How come? I am the newest member of Bartercard UK, a pool of 4,000 British businesses that trade work, rather than cash, for their endeavours. Many more could soon be on its books if recession hits the country.

NJ students punished for penny payments

READINGTON TOWNSHIP, N.J. - Sometimes a penny for your thoughts isn't a good thing. Readington Township school officials gave 29 students detention after they used pennies to pay for their $2 lunches.
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Superintendent Jorden Schiff says it started out as a prank. But as the eighth-graders began to get in trouble for taking up so much time, it turned into a protest about Thursday's shortened lunch period.

Schiff said the students were punished for holding up their peers and disrespecting lunch aides.

Schiff said some parents think a two-day detention went too far and others think it wasn't enough.

The school said it wants students to know they can express themselves without disrupting other people.

Aren't pennies money?

Waitress gets $50,000, car from cranky Texan

BROWNSVILLE, Texas - For nearly seven years Melina Salazar did her best to put on a smile and tend to the every need of her most loyal and cantankerous customer.
She made sure his food was as hot as he wanted, even if it meant he burned his mouth. And she smiled through his demands and curses. The 89-year-old Walter "Buck" Swords obviously appreciated it, leaving the waitress $50,000 and a 2000 Buick when he died.
"I still can't believe it," the Luby's cafeteria employee told Harlingen television station KGBT-TV in an interview during which she described Swords as "kind of mean." Swords, a World War II veteran, died in July. But Salazar learned just a few days before Christmas that he had left her the money and car.


http://www.msnbc.msn.com/id/22424002/

Pizza Hut waitress gets a $10,000 tip

Jessica Osborne, a waitress at Pizza Hut, has a dream to go college and pursue a career in photography. But with the lack of money, she can not do so.
But one Friday evening, her dream did come true. Her regular customer Becky, who orders the same pizza every Friday, gave Jessica a $10,000 tip to help pursue her college education. Becky had recently received a huge settlement from an accident that took the lives of her oldest daughter and husband. Becky gave Jessica a $10,000 tip to help pursue her career and thought it was the right thing to do.



http://www.propeller.com/viewstory/2006/08/31/bartender-gets-10000-dollar-tip-on-26-dollar-tab/?url=http%3A%2F%2Fwww.breitbart.com%2Fnews%2F2006%2F08%2F31%2FD8JR9I800.html&frame=true

Bartender Gets $10,000 Tip on $26 Tab

HUTCHINSON, Kan. (AP) - Two weeks ago, one of Cindy Kienow's regular customers left her a $100 tip on a tab that wasn't even half that. This week, he added a couple of zeros.
Kienow, a bartender at Applebee's, got a $10,000 tip from the man—for a $26 meal—on Sunday.
"I couldn't move," Kienow said. "I didn't know what to say. He said, `This will buy you something kind of nice, huh?' And I said, `Yeah, it will.'"
Kienow said the man, whom company officials have declined to name, comes in several times a month and eats at the end of the bar. He has always tipped well, she said, usually leaving $15 on a $30 tab.
Then came the $100 tip, followed by the real shocker.
"He usually signs his ticket and flips it upside down," said Kienow, 35, who has worked at the restaurant for eight years. "But this time, he had it right-side up and said `I want you to know this is not a joke.'"
It's not, company officials agreed.
"This is a great deal for us and a great deal for Cindy," said Rhodri McNee, vice president of operations for JS Enterprises, the owner of the Hutchinson Applebee's. "We did have a guest leave this tip on a credit card, and we're doing everything to make sure it's a valid charge."
The company is in the final stages of verifying the tip, McNee said, while also working to maintain the customer's privacy and make sure the money goes through the proper channels to get to Kienow.
"Nothing would make us happier than to present her with that check," McNee said. "She's been with us for eight years, and she's a great employee who does a great job."
Kienow said that while she always talks with the man when he comes in—usually about current events or the weather—she can't think of anything that would have prompted the huge tip.
"I've been waiting on him for about three years," Kienow said. "We'd just talk across the bar he's a really nice guy. I hope he comes back in so I can tell him thank you, because the other day I was kind of dumbfounded."
Kienow, whose father will have to take some time off work for surgery on both of his knees, said she hasn't decided what to do with the money.
"I'd like to take care of my parents, since they always took care of me," she said. "But I feel like he wanted me to buy something for myself, and there's a Jeep that I've had my eye on for a while."

http://www.propeller.com/viewstory/2006/08/31/bartender-gets-10000-dollar-tip-on-26-dollar-tab/?url=http%3A%2F%2Fwww.breitbart.com%2Fnews%2F2006%2F08%2F31%2FD8JR9I800.html&frame=true

How People Count Cash

This is a very interesting video on how people count cash differently in different parts of the world.
http://www.metacafe.com/watch/1098393/how_people_count_cash/

Cambodian Tontines

This is the project space for Belinda Uy, Jenny Lien, and Tanya Kim!

The concept of tontine developed in France in the late 17th century, since

then it has evolved into other variations in other cultures. Our focus

will be the practice of Cambodian Tontine in Southern California. We will

also lightly discuss more contemporary forms of tontine.

Dollar Bill Origami

Dollar bill origami is also called money origami. As its name suggests, this type of origami uses money instead of paper. Sometimes, an existing diagram can be easily converted into a money model. Other times, because of the shape of money, new sequences of steps are needed before money can be folded into a dollar bill origami model. [Photo: $shirt].

It is interesting to note that US bills are 6.14 " X 2.61" (ratio of 7:3) and Canadian dollars are 152.4 mm x 69.85 mm (ratio of 13:6). Paper money from Britain, France, Japan, China, and Australia, and the EUR are all different sizes depending on their denominations.

It is not clear when dollar bill origami began but origami historian David Lister has an article on Paper Money Folding in the BOS web site. He explains that folding paper money may have started as early as the 1800's. But it was not until the mid 1950's before money folds became significantly popular. This is documented in Robert Harbin's book Paper Magic (1956).

Delightfully folded money can be given as tips, for example, in restaurants. They can also be given as wedding present, for example, a dollar bill butterfly. It’s an interesting twist to the age-old concept of cash gifts. [Photo by S Hecht].

Dollar bill folding can be done in any country, but it is particularly popular in USA. Why is this? It is not possible to explain the tendencies of the American public, but here is

one possible reason. The lowest American dollar bill is worth $1, thus you can afford to fold and give away a dollar. In contrast, the smallest Canadian bill is $2; and in Mexico, the smallest bill is $10 neuvos peso. The smallest British note is 5 pound; and the smallest Japanese note is 1000 yen. In Europe, the smallest note is 5 euros. [Photo by C Randall].

There are many diagrams for folding $origami models. On occasion, people will use money to fold modular origami models. Here, two or more bills are folded and combined to form a larger model.

Trang Chung specializes in folding money from different countries into modular stars. Joe Gilardi made a FIT using 30 one dollar bills. Even more amazing is Stephen Watson's modular swan which is made of 500 (scanned) five-pound British notes.

Honestly, if you were to receive such a model, would you unfold it to use the money? Or leave the model folded?

more dollar bill photos

http://www.origami-resource-center.com/dollar-bill-origami.html

New Faces on Sacagawea Coin

By Jim Abrams

WASHINGTON (AP)—Congress on Tuesday approved a redesign of the Sacagawea dollar in hopes of enticing consumer and business use of the gold-colored dollar.

Under legislation passed by voice vote in the House and sent to President Bush for his signature, new editions of the coin honoring the young Shoshone who helped Lewis and Clark on their trek to the Pacific Ocean more than 200 years ago will come out in 2009.

The new coins will continue to depict Sacagawea and her child, but they will feature scenes on the reverse side, changed annually, commemorating the achievements of other Native Americans and Indian tribes.

"These designs will take the American people to a journey of different experiences of native people by exposing them to their unique histories while preserving the memories of Sacagawea," said Rep. Dale Kildee, D-Mich., sponsor of the bill.

The Sacagawea dollar was first minted in 2000 to replace the Susan B. Anthony dollar coin. But like its predecessor, it failed to win public acceptance and today is produced only for sale to collectors.

The U.S. Mint this year has produced about 7.5 million Sacagawea coins. By comparison, through July this year the Mint has made about 775 million of the new presidential $1 coins. Those coins depict U.S. presidents, starting with George Washington, with a new coin coming out every three months.

The bill requires that the newly designed Sacagawea coins comprise at least 20 percent of all $1 coins minted each year and instructs the Treasury Department to carry out an aggressive campaign to encourage commercial enterprises to accept and dispense the coins.

The designs will be decided by the secretary of the Treasury in consultation with Congress, the National Congress of American Indians, the U.S. Commission of Fine Arts and the Citizens Coinage Advisory Committee.

Among design suggestions are the Cherokee written language, the Iroquois Confederacy, the World War II codetalkers and Olympic athlete Jim Thorpe.

Currently, the reverse of the coin shows an eagle with 17 stars representing the states at the time of the 1804 Lewis and Clark expedition.

The bill is H.R. 2358

http://www.reznetnews.org/article/ap/new-faces-sacagawea-coin

Colors Magazine - Money Issue

The interactive graphic is a lot of fun: http://www.colorsmagazine.com/money/

Change he can believe in

By Jessica Levco

EVANSVILLE, Ind. - Bernard von NotHaus' self-created, "inflation-proof" Liberty Dollar may cost him a lot more than he bargained for -- his liberty.

Calling himself a "money architect," von NotHaus created the precious metal-backed Liberty Dollar as a private currency for people to use as a form of barter, instead of spending U.S. dollars. On his Web site, he compares his product to the competition that the U.S. Postal Service faced when FedEx started.

But, after a two-year investigation of his company, the federal government didn't buy von NotHaus' argument. Authorities said von NotHaus' operation is illegal and a threat to consumers. The FBI on Nov. 14 raided six of his business operations in four states, including the national headquarters in Evansville.

http://www.chicagotribune.com/news/nationworld/chi-liberty_levco_19feb19,1,5802018.story

Maxed out on credit card fees

Late payments, over-the-limit fees and finance charges can cost an arm and a leg. Here's how to avoid crippling credit.
By Jessica Dickler, CNNMoney.com staff writer
November 1 2007: 10:41 AM EDT

NEW YORK (CNNMoney.com) -- Your boss might give you a break if you're late to work a few times, but don't expect the same courtesy from your credit card issuer. Pay your bill late even once and you'll take a real hit to your financial future.

Late payment penalties on credit cards generally range from $15 to $39. But that's just the beginning. If the late fee pushes the balance on your next bill over your spending limit, then you also get hit with an over-the-limit fee (another $39).

And it doesn't end there. Going over your limit will cause the card issuer to automatically raise your interest rate, or APR, substantially.

Then there's a finance charge, which is the interest on the balance you carry on your card and can be as high as 35 percent.

Think you won't get hit again if you pay in full next month? Think again. Many banks calculate finance charges using what's called double-cycle billing, a confusing practice that averages out the balance from two bills, so you get hit with retroactive interest on your next bill as well, even if you've paid off the balance.

"Generally a late fee leads to an over-the-limit fee," said Chris Viale, president and CEO of Cambridge Credit Corp., a nonprofit credit counseling agency based in Agawam, Mass. "Once those fees are in play, the interest rate goes up to 29 to 32 percent."

http://money.cnn.com/2007/10/31/pf/raw_deal_overdraft/index.htm?postversion=2007110110

Zimbabwe: Life under the world’s highest inflation rate

Published: Feb. 21, 2008
By TONY NAMATE

I’m not an economist, but I don’t believe the inflation rate is the official 66,000 percent. It’s closer to 150,000 percent. I know this sounds crazy, but we Zimbabweans are used to it.

Here, prices don’t go up, they are “adjusted upwards”— constantly. Even the prices of goods that haven’t been on the shelves for months go up all the time.

Halfway through a ride, a bus conductor will tell you that the fare has gone up. When I went to Mutare in December, the fare was Z$1.5-million (about R150). As I write, the fare is Z$25-million.

The price of bread doubles every two and a half days. And the price differs from shop to shop. A loaf of bread usually changes hands about three times before it reaches its final destination, and its price increases each time.
http://www.thetimes.co.za/News/Article.aspx?id=708973

Tipping

This is the project space for the tipping project: Gianna Linnert, Angela Cheng, Janali Torres, Angelina Fierro, Daniel Jimenez and Debbie Anderson.

Changing the World One Loan at a Time

Got $25? Become a Kiva lender and watch your money transform a life

Video

Changing the world one loan at a time Sept. 3: With over a million in donations, Kiva.org is redefining the value of $25 dollars. TODAY profiles the charity website.

By Jen Brown

TODAY

updated 2:31 p.m. PT, Fri., Aug. 31, 2007

When the women in a San Francisco mother’s group called the Pace Mamas read about Tahira Ramzhan, a 25-year-old mother of four struggling to raise her family in Kabul, Afghanistan, they immediately wanted to help.

“We wanted to connect with her, to send her a message that a group of women in the United States cared about her and her family,” Pace Mama member Brandi Bernazzani via e-mail. “We knew how much the support and community of other women had meant to us, especially when we felt unsure and overwhelmed.”

(from Debbie A.; follow the link for the full story)

Credit versus Debit

This is the project space for Ann Medina, and Jamie Luong. You may post material for discussion, sharing, and comments as "comments" to this post, as well as images, etc.

The Money of Love

This is the project space for Saba Aratsu, Claire Hayati, Kelly Forster, Shelley Dutt, Paul Lee and Debby Blumenthal. You may post material for discussion, sharing, and comments as "comments" to this post, as well as images, etc.

Sting Operations

This is the project space for Chris Gutierrez, Kalpan Patel, Erica Christensen, Brett Kohut, Emre Gurol and Nick Rokoff. You may post material for discussion, sharing, and comments as "comments" to this post, as well as images, etc.

"CRV": Money and Recycling

This is the project space for Walter Wu, Raquel Gutierrez, Jeff Schauer, Nancy Hagan and Subhana Nisar. You may post material for discussion, sharing, and comments as "comments" to this post, as well as images, etc.

Tribal Gaming and Gambling

This is the project space for Calvin Cheung, Melissa Flores, Ali Sanders and Angela Khai. You may post material for discussion, sharing, and comments as "comments" to this post, as well as images, etc.

Wedding Dollar Dance

This is the project space for Janis Martinez, Ana Urzua, and Magaly Guerra. You may post material for discussion, sharing, and comments as "comments" to this post, as well as images, etc.

Barter and Craigslist

This is the project space for Brandon Nguyen, Jon Heston, Alice San, Connie Hsu, James Grant, and Dominic Adam Cabacungan. You may post material for discussion, sharing, and comments as "comments" to this post, as well as images, etc.

Expensive Cold Feet

In hopes of lowering the rate of divorce, the Mexico City government plans to vote on a law that will make prenuptial promises legally binding so that couples will strongly consider marriage before actually getting engaged, thus lowering the divorce rate (?). Personally, I think it's a bit of a long shot.

A price to pay in Mexico for backing out at the altar

MEXICO CITY (Reuters) - Mexican brides and grooms who get cold feet before walking down the aisle will have to pay their significant other for the inconvenience, if a proposal by a local congressman is adopted.

In Mexico, weddings are big social events where large amounts of money are spent before the big day on gowns, tuxedos, catering and music bands and churches are even reserved years in advance.

Weddings of over 500, or even 1,000 guests, are frequently splashed across newspapers' social pages. According to Mexican tradition, the bride's family absorbs most of the expenses.

Jose Antonio Zepeda, a city deputy for President Felipe Calderon's conservative National Action Party, wants to introduce the idea of compensation for backing out of a wedding as part of changes to the capital's civil code.

"He or she who refuses to live up to a marriage commitment will pay for the expenses that the other party made in connection with the planned matrimony," Zepeda's proposal says.
Zepeda also wants lawmakers to give legal status to prenuptial agreements for those on their way to the altar in hopes it will make divorce settlements easier if the couple splits later on.
"We are looking to avoid emotional distress, cut divorce expenses and shorten the time that courts spend solving them," Zepeda told Reuters on Friday. The prenuptial agreement will be optional.

Divorce rates are on the rise in Mexico, which has a predominantly Catholic population of over 107 million. Currently, three out of 10 couples in Mexico City divorce, compared with just one in 10 in the 1970s, the congressman said.

Zepeda's proposal is expected to be voted by Mexico City's congress in March or April. If passed, it will only apply to heterosexual couples in the capital, which legalized gay unions in 2006.
(Reporting by Cyntia Barrera Diaz, editing by Jackie Frank)

Body Art?

http://modblog.bmezine.com/2006/07/30/money-money-money-money-keloid/

This picture of a keloid, a raised scar, depicts a dollar sign. Interestingly, according to the website, the person who got this done to them is actually from Brazil; Brazil uses the "real," which is equivolent to about $0.60.

NY mall tries cash handouts to stave off recession

Fri Feb 22, 4:37 PM ET

A New York shopping mall is doing its part to stimulate the struggling U.S. economy by giving away $20,000 in cash to unsuspecting passers-by, hoping that handing out $50 bills will boost consumer confidence.

People dressed as Uncle Sam and the Statue of Liberty started handing out $1 bills around the borough of Queens earlier in the week, then began shelling out $50 bills at the Atlas Park shopping center on Friday.

Recipients are asked to spend or invest the money and told that if people have confidence in the economy it will become a self-fulfilling prophecy.

The handouts will continue for two months until reaching $20,000, equivalent to $0.05 per square foot of retail space.

The mall owners say the private-sector effort will "supplement" the $168 billion stimulus package signed into law by U.S. President George W. Bush on February 13.

Atlas Park owner Damon Hemmerdinger noted that tax rebates in the stimulus plan won't reach consumers for months.

"It (the stimulus package) is important and I'm not at all critical of it, but I'm watching layoffs and bankruptcies and pain and suffering," Hemmerdinger said. "That's not enough. We shouldn't wait for anybody else to solve our problems."

Hemmerdinger estimated that if every shopping center in the country gave away cash using the same formula it would pump $340 million back into the sagging economy.

One economist, while acknowledging the giveaway may not have much impact on the $13 trillion U.S. economy, but said the gesture could boost consumer confidence.

"It moves us in the right direction," said Frank Tinari, professor emeritus at Seton Hall University. "It's taking money out of savings or profits and pumping it back into the economy."

(Reporting by Daniel Trotta; editing by Stuart Grudgings)

Chinese Debate Social Implications of New Year's Cash for Kids

Monday, February 18, 2008 T15:58:17Z

[from Janis]

BEIJING, Feb. 18 (Xinhua) -- Traditionally, young Chinese used to receive

red packets ("Hongbao" in Chinese) -- a small sum of cash in a red

envelope -- from their parents, relatives or friends during the Spring

Festival, or Chinese Lunar New Year.

Chinese traditionally take the color of red as a sign of luck and

happiness, while the small sum serves as a symbol of wealth. Therefore,

the red packets are a talisman of luck, wealth, health and safety for

juniors from seniors.

Best wishes, however, may turn bad some times if kids are not taught how

to use the money correctly, particularly when the small red packets become

increasingly larger in a fast-developing country where some families have

become more affluent.

In the eastern Jinan City, five elementary school students spent 30,000

yuan (about 4,200 U.S. dollars) from their Spring Festival takings in a

department store in a single day, according to Jinan Daily, a leading

newspaper in the Shandong Province capital.

Similarly, in Shijiazhuang City, capital of the northern Hebei Province, a

third grader of elementary school asked her mother for a 20,000 yuan red

packet. The child wanted to show off in front of her classmates, according

to Yanzhao City News.

The mother, surnamed Wang, called the newspaper. "She asked for 20,000

yuan from me. I refused. I heard her showing off to her classmates on Feb.

12 that she had already received more than 20,000 yuan in red packet money

(from relatives)."

Some Chinese media discussed the negative impact of the increasingly

bigger red packets, arguing parents should educate their children on how

to handle the gifts.

A survey in Chengdu City in the southwest Sichuan Province found that half

of local parents gave 200 to 400 yuan per red packet to their kids.

For richer families, the packets were larger. "I usually give about 2,000

yuan to my kid as a New Year's gift," said a real estate company boss.

Therefore, the bulging packets for kids has undoubtedly caused a rising

question: How to guide kids to use the money?

In Qingdao City, Shandong, four nine-year-olds lost 5,000 yuan via

gambling over three days, the Qingdao Daily reported.

Although the money has been requested to be returned with the help from a

lawyer, the event aroused wide attention in the eastern coastal city, the

paper said.

"Money is now one of the major inducements for junior crimes," said Guan

Ying, a Tianjin Academy of Social Sciences researcher.

Investigation shows 70 percent of junior crimes are related to money, the

scholar said. The study, which investigated 2,000 junior criminals and

1,000 non-criminal adolescents, found the allowance of the former is much

more than the latter. It is easier for kids who have more money to break

the law (compared with those who do not), for they have more chances to go

to underground casinos and discos.

Liu Danning, an expert from the provincial branch of the China Everbright

Bank in the northeastern Heilongjiang Province, said there were three

steps to guide kids to wisely use their red packet money.

First of all, help to open a demand deposit bank account for kids; give

the savings passbook to them and tell them to withdraw money if needed.

Secondly, guide kids to make a plan for using money; tell them the basic

principles. Thirdly, teach kids to keep a record of how they spent the

money; let them be aware of their financial situation.

"Children do not know how to correctly use their red packet money. This

reflects current education shortages in China, especially in the field of

financial management for children," said academic Guan.

He said there are four major shortages as follows:

First, many parents do not tell kids about the real and detailed financial

situation of a family. Children are not aware of the hardship their

parents have gone through to earn money; hence, kids are not aware of

being frugal.

Second, kids are affected by the increasingly materialized world. They may

even fall victim to money worship. For example, kids may follow their star

idols who are described as a spendthrift by media or in movies.

Third, the lack of consumer guide for children may result in high-end

consumption or shopping sprees only for showing off among their peers.

Fourth, kids' desire to obtain money may expand if it is not effectively

controlled. In this case, kids may turn to illegal actions to obtain money

if their parents fail to meet their increasing demands.

"Financial management is an inevitable part of education for young

children. It should call attention from the whole society," Guan said.

Like Guan, many Chinese experts want the public to pay greater attention

to the doling out of red packets before this traditional symbol of best

wishes turns into a serious social problem.

(Description of Source: Beijing Xinhua in English -- China's official news

service for English-language audiences (New China News Agency))

Compiled and distributed by NTIS, US Dept. of Commerce. All rights reserved.

City/Source: Beijing

DIALOG Update Date: 20080218; 13:33:44 EST

Descriptors: Domestic Economic

Geographic Codes: CHN

Geographic Names: China; Asia; East Asia

NewsEdge Document Number: 200802181477.1_c86700b323e71d70

Original Source Language: English

Region: Asia

Goodbye, Pennies?

=)

Lincoln portrait made out of pennies

Jeff Haber, left, and son Danny show off their creation, a portrait of Abraham Lincoln made with pennies. The Habers used 2,400 coins to create the portrait, which they are donating to New Rochelle High School. Danny Haber is a sophomore there.

http://www.lohud.com/apps/pbcs.dll/article?AID=2008802180334

Peers set up loans through Web sites

By Eve Mitchell
Article Launched: 01/20/2008

With the advent of peer-to-peer lending Web sites, consumers have an alternative to getting an unsecured personal loan from a bank or putting a relationship at risk when money is lent to a friend or relative and there is a disagreement about the loan terms.

http://www.contracostatimes.com/ci_8026758

About the New $5 Bill

About the New $5 Bill

The new $5 bills will be safer, smarter and more secure: safer because they’re harder to fake and easier to check; smarter to stay ahead of savvy counterfeiters; and more secure to protect the integrity of U.S. currency. Because security features are difficult for counterfeiters to reproduce well, they often do not try, hoping that cash handlers and the public will not check their money.

The redesigned $5 bill retains two of the most important security features that were first introduced in the 1990s and are easy to check.

[from Erica]

Girl Scouts Scammed by Counterfeit $100

Video Link:

http://www.cnn.com/video/#/video/us/2008/02/19/allen.co.girl.scouts.scammed.kmgh

The Bonus Army

The creeping monetization of military service.

By Fred Kaplan
The U.S. Army is having such a hard time recruiting new soldiers that it is about to offer a truly breathtaking incentive to high-school graduates who sign up—a $40,000 signing bonus, to be applied to buying a home or starting a business after their service is complete.

This comes on top of standard-dipping measures that the Army has recently had to take to meet its enlistment targets—accepting more dropouts, more criminals, and more people who score poorly on aptitude tests.

The latest lure is no less disturbing... http://www.slate.com/id/2184482/

Thinking Twice about that $400 Handbag

Thinking Twice about that $400 Handbag - New York Times

By MICHAEL BARBARO

Published: January 20, 2008

IT was a retail juggernaut that swept through America’s shopping malls and bedroom closets, rewriting the rules of class and consumption.

But affordable luxury is not looking so affordable — or sustainable — anymore.

During the 2007 holiday shopping season, the middle-class consumers who spent the last decade splurging on $300 saucepans and $600 scarves, tightened their purse strings in the face of slipping home prices and rising energy costs.

[From Melissa]

University of Alberta tobacco ties slammed

Published: Friday, January 25
Jodie Sinnema, The Edmonton Journal
EDMONTON -- A member of the board of governors of the University of Alberta is under fire from an anti-tobacco student group for not supporting its campaign to ban tobacco-funded research money at the university.

In October, when a group of students from E-Butt (Education-Bringing Youth Tobacco Truths) approached Bruce Saville, he wouldn't take their pamphlet about getting big tobacco off campus, saying, "No, I think dirty money is money."
http://www.canada.com/edmontonjournal/news/story.html?id=aefdfc59-eb8f-4da0-adef-5adea8f870f6&k=17115

Great Seal Secrets Revealed!

Great Seal secrets revealed!

By MATTHEW LEE, Associated Press Writer Tue Feb 12, 4:03 PM ET

WASHINGTON - Conspiracy theorists take note: The myths surrounding one of America's oldest and most enduring national symbols are about to be debunked ... if you believe the government, that is.

The keepers of the Great Seal of the United States, the familiar emblem on the back of the $1 bill, want you to know what it is not. It is not a sign that Freemasons run the country, it has nothing to do with the occult, and it does not contain clues to a fabulous hidden treasure.

It is rather the nation's stamp of authority, sovereignty and power, gracing our cash and embossing the most important of documents from its home at the State Department, which has held it since the days of Thomas Jefferson, the first secretary of state.

Not that the Seal's symbols — the all-seeing eye, the unfinished pyramid, the Latin phrases, the bald eagle clutching an olive branch and arrows and the number 13 — aren't powerful.

They are, historians say. Yet their meanings have been misidentified, misunderstood and misrepresented almost since the Continental Congress first commissioned the Seal in 1776.

It would be another six years before the original design was approved and another 128 before it evolved into its current form. Along the way, a movement to decipher the Seal's meaning with ancient Egyptian, mystical and otherwise otherworldly explanations has gained currency.

The Internet age has seen an explosion in such conspiracy theories, many which have now been ingrained in public consciousness through the popular "National Treasure" movie franchise that serves up a combination of Masonic lore and historical myths in blockbuster Hollywood fashion.

Among them:

_That the Seal proves the domination of the United States by a powerful, quasi-religious cult. The Ancient Scottish Rite of Freemasonry is a perennial favorite of conspiracy theorists as some Founding Fathers were Masons and the Seal uses several Masonic symbols.

_That the Seal draws on Satanism or polytheistic ritual to promote a universal new world order under which Earth would be ruled by a single omnipotent government.

_That repeated references to 13 — the number of steps in the unfinished pyramid, stars in the constellation over the eagle's head, arrows in the eagle's claw, stripes on the eagle's shield, letters in the phrase "Annuit Coeptis" — demonstrate the power of 13 American families.

_That there are two seals: one in which the eagle's head faces the arrows for times of war and another in which the eagle's head faces the olive branch for times of peace.

All rubbish, according to historians, who say the Seal's symbolism is far less ominous or revelatory than many believe.

Secretary of State Condoleezza Rice, the Seal's 66th and current custodian, on Tuesday inaugurated a new exhibition to commemorate its 225th birthday and trace the history and evolution of the symbolism.

"This exhibit honoring the Great Seal affirms our continued belief in the values of our founding," she said. "The Great Seal symbolizes the unity, strength and independence of a new nation, the United States of America."

The Seal will remain at the State Department but the interactive exhibit is designed to travel and curators hope it will dispel the rumors and educate Americans about the real meaning of the symbols.

Among the highlights:

_That known Masons like the first U.S. president, George Washington, and Benjamin Franklin had no role in designing the final seal, which uses elements of traditional heraldry, such as the unfinished pyramid to symbolize a work in progress, arrows for war and an olive branch for peace. Masons share some of those symbols, but they have never been exclusively the domain of the order.

_That the phrase "Novus Ordo Seculorum" below the Roman numerals for 1776 at the base of the pyramid translates as "A New Order of the Ages" that began with independence and does not imply the United States will be the lynchpin of a sinister "New World Order."

_That the words "Annuit Coeptis" ("Providence favors") and the eye of providence that hovers over the pyramid refer to unexpected interventions of fate that assisted the colonists in creating a new country.

_That the references to 13 refer to the number of colonies that formed the original United States.

"People are just not aware of the complexity and intent of the symbolism and what our Founding Fathers were trying to do with it," said Priscilla Linn, senior curator at the U.S. Diplomacy Center. "The hidden treasure in the Seal is the courage and presence of mind of the people who created it and created these values for the whole country."