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The E-Sylum: Volume 25, Number 38, September 18, 2022, Article 26

YELLEN BANKNOTES ARE FINALLY COMING

With Presidential appointees now on board for both signature roles, the Bureau of Engraving and Printing can begin a new series of Federal Reserve Notes. -Editor

US banknotes are set to mark two historic precedents in coming months, as Treasury Secretary Janet Yellen swore in Lynn Roberge Malerba as treasurer on Monday.

  Treasury Secretary Janet Yellen
Treasury Secretary Janet Yellen

Yellen's signature on Federal Reserve notes will be the first in US history by a female Treasury secretary. And Malerba's will become the first by a Native American treasurer.

  Treasurer Lynn Roberge Malerba
Treasurer Lynn Roberge Malerba

Malerba, lifetime chief of the Mohegan Tribe, is also assuming leadership of the Treasury's new Office of Tribal and Native Affairs.

The treasurer has oversight of the US Mint, Bureau of Engraving and Printing and Fort Knox, Kentucky, which houses part of the country's gold reserves.

While Yellen took office in January 2021, rules dictated that her signature couldn't appear on banknotes as President Joe Biden hadn't yet nominated a treasurer. Her predecessor, Steven Mnuchin, unveiled his autograph on the buck within nine months in office.

To read the complete article, see:
Yellen Banknotes Are Finally Coming (https://www.bloomberg.com/news/articles/2022-09-12/yellen-banknotes-are-finally-coming-with-us-treasurer-sworn-in)

And in the don't-you-dare-call-me-a-philatelist department, this Wall Street Journal article notes that while she does own a stamp collection, Janet Yellen should not be confused with a stamp collector. -Editor

When Janet Yellen was invited to join the likes of Queen Elizabeth II and Prince Albert of Monaco as one of only 100 individual members of the prestigious Club de Monte-Carlo, she felt she had to decline.

The problem was the club is dedicated to collecting stamps. And despite widespread belief to the contrary, Ms. Yellen, the Treasury secretary, doesn't collect stamps.

As Ms. Yellen explained in a 2017 letter declining the invitation, she inherited her mother's stamp collection and was curious about stamp collecting, or philately, as a child. Since then, her interest had waned.

The Club de Monte-Carlo wasn't the first, nor would it be the last, to believe that Ms. Yellen is an avid philatelist. The perception stuck after she listed her mother's stamp collection, worth between $15,001 and $50,000, in financial disclosure forms required for various government roles over the years.

Ukrainian Prime Minister Denys Shmyhal, in a meeting this spring, gave Ms. Yellen a set of stamps commemorating the Ukrainian soldiers who defended Snake Island from a Russian warship, according to a spokeswoman for Mr. Shmyhal. Russian Warship, Go…! the stamps read, bearing an image of a Ukrainian soldier raising a middle finger at the ship.

Now accustomed to receiving stamps, Ms. Yellen considers the gifts charming, according to people familiar with the matter. The Treasury secretary declined to comment.

To read the complete article (subscription required), see:
Janet Yellen Likes Rocks. Foreign Diplomats Keep Giving Her Stamps. (https://www.wsj.com/articles/janet-yellen-treasury-secretary-rocks-stamps-11663250822)

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Wayne Homren, Editor

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