Economics and Investing:

The release of the latest anti-counterfeiting edition of the U.S. $100 Federal Reserve Note is scheduled for today. The new bill has lots of pretty gold-colored elements on the right side, but like its predecessors ever since 1963, it has NO gold or silver backing. So this is just the latest in fiat funny money. I’m often asked by readers if they should gradually replace their stored cash when new currency is released. The general answer is yes, since there may come a day when the older bills are repudiated. (After all, what is the point of anti-counterfeiting features if the older currency is allowed to circulate side by side, indefinitely?)

Boehner says U.S. on path to default if Obama won’t negotiate

A Depressed Bank Of America Predicts “Agreement Is Almost Impossible As Long As Obamacare Is On The Table”

At Zero Hedge: Greece Considering Confiscation Of Private Assets

Items from The Economatrix:

Going For Broke: The Multiple Lost Decades Of US Household Income. Is It Possible To Have A Recovery While The Standard Of Living Collapses?

US Banks Stuffing ATMs With 20-30% More Cash In Case Of Panicked Withdrawals

Private Sector Adds 166,000 Jobs In September