tag:blogger.com,1999:blog-8863461026990087355.post918752975533012749..comments2017-11-06T14:47:22.419-06:00Comments on US Taiwan Defense Command: Currency, Finance and BankingDonhttp://www.blogger.com/profile/01071798130626903767noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-8863461026990087355.post-88344283307091898062014-11-12T16:49:26.615-06:002014-11-12T16:49:26.615-06:00I was a member of the Army Finance Detachment on T...I was a member of the Army Finance Detachment on Taiwan from 1976 to 1979, and we were paid in U.S. Dollars. When I sold my Mercury Monarch auto (at a profit) after two years on-island, I received a "brick" of NT. I deposited the many thousands of NT in the local post office, where I received a modest return. I gradually spent those NT on rent, food, etc. until I ran out about six months before I departed in March, 1979.Bfamily96noreply@blogger.comtag:blogger.com,1999:blog-8863461026990087355.post-622082391527413572008-11-14T21:34:00.000-06:002008-11-14T21:34:00.000-06:00In 1959/60, we were paid in U. S. currency. We us...In 1959/60, we were paid in U. S. currency. We used that currency in U. S. military-operated facilites and used NT currency in the local economy. I don't remember a 10% U. S. savings deposit program while I was there, but that could just be my lack of memory. I do remember a couple of brave souls in the photo lab who told me they had savings accounts in local banks paying 25% per year. I was never brave enough to open an account in a local bank.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8863461026990087355.post-68421191574762140002008-11-14T16:24:00.000-06:002008-11-14T16:24:00.000-06:00Jim,I also took advantage of the 10% Savings Plan ...Jim,<BR/><BR/>I also took advantage of the 10% Savings Plan - saved about $4000. If I remember correctly, it was Nixon's idea to stem some of the currency flow in the Far East. Us GI's sure did spend alot over there!!<BR/><BR/>Regards<BR/><BR/>John HurstJohn W. Hursthttps://www.blogger.com/profile/16032844618152690089noreply@blogger.comtag:blogger.com,1999:blog-8863461026990087355.post-35545662704675305722008-11-14T15:45:00.000-06:002008-11-14T15:45:00.000-06:00During my tour (61 / 63) we got paid in U.S. dolla...During my tour (61 / 63) we got paid in U.S. dollars but were told to pay our rent and maid or any other local people with NT dollars only. Everyone wanted to get paid in US$ because they could then go downtown to the Black Market Exchange and make a few extra NT dollars in the process. Where that place was downtown....I don't know? Honestly Man I Don't Know!Sarj Bloomhttps://www.blogger.com/profile/15386755642390348961noreply@blogger.comtag:blogger.com,1999:blog-8863461026990087355.post-66101079363079598932008-11-14T13:07:00.000-06:002008-11-14T13:07:00.000-06:00Boy do I remember that SavingsProgram. In our fou...Boy do I remember that Savings<BR/>Program. In our four years on<BR/>the island my wife and I managed to have $10,000 saved when we got<BR/>back to the States. Sure made<BR/>going back to CONUS much easier.<BR/><BR/>That was one of the Governments better ideas!!<BR/><BR/>Jim SartorAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-8863461026990087355.post-37590443912704494732008-11-14T10:20:00.000-06:002008-11-14T10:20:00.000-06:00Don,Then perhaps I was paid in US dollars and then...Don,<BR/><BR/>Then perhaps I was paid in US dollars and then converted those US dollars to NT dollars at the paymaster station when being paid. I think the paymaster offered that option. That must be it. Thanks.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8863461026990087355.post-71256391858538409252008-11-14T10:12:00.000-06:002008-11-14T10:12:00.000-06:00I'm fairly certain that I was paid in $US in 73-74...I'm fairly certain that I was paid in $US in 73-74. As I recall, I always had to convert of $US to $NT for rent and other off-base expenses.Donhttps://www.blogger.com/profile/01071798130626903767noreply@blogger.comtag:blogger.com,1999:blog-8863461026990087355.post-192741261426420832008-11-14T10:03:00.000-06:002008-11-14T10:03:00.000-06:00According to the document "Pay and allowances are ...According to the document "Pay and allowances are paid in American currency"<BR/><BR/>OK, something must have changed between 1966 and 1973 as I clearly recall that we (HSA) were paid in NT Dollars back in 65-66. Please comment as to what currency you were paid in and what year(s) you served...or am I just not remembering correctly as that's possible as this was long ago?Anonymousnoreply@blogger.com