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LEGAL RESERVES: The total amount of vault cash or Federal Reserve deposits of a bank. These are the only bank assets that can be used legally to satisfy reserve requirements.

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GOLD CERTIFICATES

Paper currency issued and authorized by the U.S. Department of the Treasury that is, in principle, backed up by, and exchangeable for, an equivalent value of gold. Gold certificates were in circulation as a medium of exchange for the U.S. economy during two periods, 1865 to 1922 and 1928 to 1934. A similar form of paper currency is silver certificates.

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Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway hoping to buy either an AC adapter that works with your MPG player or rechargeable batteries. Be on the lookout for defective microphones.
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
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