THIRD STIMULUS CHECK

[Joey G]

10 hours ago, JJReyes said:

  It worked for a time until President Richard Nixon decided to do away with the gold standard so his government can print money.  

 

 FDR eliminated the gold standard in the USA in 1933, Nixon eliminated converting dollars to gold at $35/oz., which by 1973 was crazy anyways.

 

[JJReyes]

2 hours ago, Joey G said:

 FDR eliminated the gold standard in the USA in 1933, Nixon eliminated converting dollars to gold at $35/oz., which by 1973 was crazy anyways.

 

I don't like using government propaganda labels like calling the proposed additional $2.2 trillion as "investments."  It's debt.  FDR made it illegal for Americans to own gold except for coins.  Because the US possessed the most sequestered gold, this allowed the federal government to dictate global monetary policy.  President Charles de Gaulle and the French pricked the myth by returning accumulated dollars and getting back gold at a bargain price.  Since then there has been mountain size borrowings which is the reason for all the worldwide prosperity (and poverty).  The problem is one day it is going to get pricked and the bubble will burst.  The bigger problem is we don't know when.

Ahh!  Maybe someday the Philippines can return their peso to the original pegged value of 2 to 1 United States dollar.

[Dave Hounddriver]

1 hour ago, JJReyes said:

Maybe someday the Philippines can return their peso to the original pegged value of 2 to 1 United States dollar.

I thought you were pulling our leg so I asked Professor Google and he said:

"During the 1950s, the Philippine peso exchanged at a rate of 2 Philippine pesos to 1 US dollar. In 1965, the floating rate was abolished and the peso began to devalue, trading at around ₱11 per $1 in 1983, ₱20 in 1986 and ₱28 in the early 1990s."

I imagine there are quite a few expats who could not even afford a ticket home with an exchange rate of 2 to 1.  Not gonna happen.  But its worth considering how low that rate could go.

[JJReyes]

7 minutes ago, Dave Hounddriver said:

I thought you were pulling our leg so I asked Professor Google and he said:

"During the 1950s, the Philippine peso exchanged at a rate of 2 Philippine pesos to 1 US dollar. In 1965, the floating rate was abolished and the peso began to devalue, trading at around ₱11 per $1 in 1983, ₱20 in 1986 and ₱28 in the early 1990s."

I imagine there are quite a few expats who could not even afford a ticket home with an exchange rate of 2 to 1.  Not gonna happen.  But its worth considering how low that rate could go.

Shows my age.  I still remember my childhood when all Philippine coinage was silver.  

 

[scott h]

We just got our 2nd stimulus check in the mail today............

But what was really strange is that the envelope was from the US embassy here in Manila

[OnMyWay]

2 hours ago, scott h said:

We just got our 2nd stimulus check in the mail today............

But what was really strange is that the envelope was from the US embassy here in Manila

Interesting!  Do you remember when the IRS said they mailed it? Was it in the original envelope or??   Any telltale markings or postmarks?

They said my 2nd was mailed on January 6th, but now the 1st and 2nd are no longer in the "Get My Payment" database.

[scott h]

7 hours ago, OnMyWay said:

Any telltale markings or postmarks?

It was direct from the embassy, postmarked 5 March (not bad seeing that I live about 10K away from the embassy )

I did not see an issue date, but then I didnt get to look at it long, the Asawa snatched it from me and put it in the safe 

[OnMyWay]

3 hours ago, scott h said:

I did not see an issue date,

Can you check?  That would be good info for me.

Thanks!

[Jack Peterson]

1 minute ago, OnMyWay said:

Can you check?  That would be good info for me.

Thanks!

 Whilst I am not from the US, I Tend to think that like many forms and such sent out it matters not the date on it. Thing is not the date raised it is all about the date sent, recently i was informed by the UK pension department that many letters are printed for dispersal then block Held until they have enough to comply with Postal Contracts, this has a big bearing on dates printed and dates sent. JMHO 

[OnMyWay]

4 minutes ago, Jack Peterson said:

 Whilst I am not from the US, I Tend to think that like many forms and such sent out it matters not the date on it. Thing is not the date raised it is all about the date sent, recently i was informed by the UK pension department that many letters are printed for dispersal then block Held until they have enough to comply with Postal Contracts, this has a big bearing on dates printed and dates sent. JMHO 

In normal times, that is probably true for the U.S. too.  The stimulus checks were unique and there is always a big push to get them in peoples hands immediately.  What is unique about Scott's check is that it was mailed from the Manila Embassy.  That means the IRS put it in diplomatic mail to the embassy

Normally, diplomatic mail pouches are sent by express carriers like DHL.  However, if they have a big batch of mail that they deem non-urgent (like checks to those unimportant expats in the Philippines!) they could send it slow-boat for a big shipping discount.

I'm curious for several reasons.  I'm waiting to file my 2020 taxes, and that check is the last outstanding item.  You don't pay taxes on it, but you have to list it.

If I know the check date, I can make an educated guess on how it got here and if mine might be routed the same way. 

I had given up on that second stimulus, but I have some hope now!