“Underground Currency” on the Streets of New York — Jumped in Value in 2008

By Travis Johnson, Stock Gumshoe, March 17, 2009

Many folks have sent in this fun ad from the Oxford Club, one of many Agora-related publications — and a few folks even suggested the solution, which is easy if you’ve heard of it, but a bit obscure if you haven’t, and especially if you’ve never been a New Yorker.

How’s that for a tease … from the Gumshoe, no less? Don’t worry, you don’t have to send me any money to find the answer, just slog through a few more paragraphs of my blather and we’ll get you there.

Here’s what Louis Basenese tells us about this special “underground currency” …

“An ‘Underground Currency’ is Trading on the Streets of New York… Making Smart Investors Very Rich

” * Since 2004, this government-issued “legal tender” has more than DOUBLED in value…

” * In the past fifteen years, it’s returned FIVE TIMES the amount of the S&P 500…

“And starting in as little as 72 hours, it could put an extra $11,400 in your bank account.”

Sounds good, right? And it kind of makes you think a little … don’t we all suspect that there’s something secret going on in New York that the rest of us didn’t know about (you know, aside from tiny apartments)? These kinds of ads really trigger the conspiracy theorist who lurks inside each of us … “I thought there was something secret that let people make all that money when I was losing!”

Of course, in truth, it’s nothing as sexy as that … here’s some more from the ad:

“It’s the secret behind some of New York’s biggest fortunes… an “investment” most people know nothing about.

“Yet it dates all the way back to 1937…

“The U.S. was still in the grips of the Great Depression. And New York City was hit especially hard. Unemployment was rampant… Breadlines formed along sidewalks.

“So in March of that year, Mayor La Guardia signed a revolutionary bill. To jumpstart the local economy, he authorized the local government to issue its own “currency”. And it worked… making millionaires out of a small group of average people.

“To this day, it quietly trades among a small circle of roughly 13,000 fortunate New Yorkers.”

So now they bring the Depression in? Well of course, now we MUST have this “underground currency!”

And they throw in a few quotes from reputable news sources, just to remind us that this is real, it’s not just a made up teaser — honest!

“The New York Post reports that this is ‘one of the fastest rides to a huge retirement nest egg.

“And the New York Times agrees that it represents a ‘golden opportunity.’

“Even the New York Daily News says that it’s ‘… as good as gold.’ But they’re wrong…The truth is, it’s far better….

“As a Bloomberg article pointed out, ‘In New York, the capital of world finance, the hottest investment isn’t stocks, bonds, commodities or even Manhattan apartments. It’s [this].'”

And of course, there is a reality behind the ad — they don’t want angry subscribers, so they’re not lying, just adding a shroud of alluring secrecy to a pretty unknown investment.

They go on to talk about the truly staggering returns this investment has given to folks who got in early …

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“Consider…Back in 1937, if you had ex