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Mnuchin Says Plans For Harriet Tubman On The $20 Have Been “Delayed” To 2028

Summary:
In a move that is drawing ire from the left side of the aisle, Treasury Secretary Steven Mnuchin announced Wednesday that a planned redesign of the bill, set to include Harriet Tubman, will be delayed from its planned release date in 2020, according to CNBC. The timing of the release had been set to ...

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In a move that is drawing ire from the left side of the aisle, Treasury Secretary Steven Mnuchin announced Wednesday that a planned redesign of the $20 bill, set to include Harriet Tubman, will be delayed from its planned release date in 2020, according to CNBC.

The timing of the release had been set to coincide with the 100th anniversary of the 19th Amendment, which granted women the right to vote, but, due to counterfeiting issues, Mnuchin now says that no new imagery is going to be released until 2028. 

Mnuchin Says Plans For Harriet Tubman On The $20 Have Been

Mnuchin said during a House Financial Services Committee meeting: “The primary reason we have looked at redesigning the currency is for counterfeiting issues. Based upon this, the $20 bill will now not come out until 2028. The $10 bill and the $50 bill will come out with new features beforehand.”

The redesign was announced by Treasury Secretary Jack Lew in 2016, following a 10 month process of seeking input from the public. In 2016, Lew said: “The decision to put Harriet Tubman on the new $20 was driven by thousands of responses we received from Americans young and old. I have been particularly struck by the many comments and reactions from children for whom Harriet Tubman is not just a historical figure, but a role model for leadership and participation in our democracy.”

During President's Trump campaign for President, he referred to the idea of Tubman on the $20 as "pure political correctness" and instead suggested that she should be on the $2 bill. 

Naturally, this set the left into a frenzy:

In more important news, perhaps somebody should remind the left that if they get their ways in terms of MMT, monetary policy and fiscal policy, it's not going to matter who is printed on the $20 when it inevitably becomes worthless. 

Tyler Durden
Tyler Durden (a pseudonym) represents the idea that a return to truly efficient markets is a possibility and a necessity. After having experienced the inner workings of capitalism at various asset managers and advisors, Tyler believes that the current model is flawed and a deleveraging at every level of modern society is needed to reinspire the fundamental entrepreneurial spirit. Visit his blog: ZeroHedge (http://www.zerohedge.com/)

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