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TRANSACTIONS DEPOSITS: A fancy, schmancy, official term for checkable deposits. This is the term typically used by the Federal Reserve System when they speak of checking accounts. The logic is that this are the accounts that are used to conduct transactions, that is, are used as money.

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It's estimated that the U.S. economy has about $20 million of counterfeit currency in circulation, less than 0.001 perecent of the total legal currency.
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