time to provalue our money?

With inflation, it is really getting to the point where coins aren't worth
much. In fact, you need a whole fistful to buy even much of anything at a
dollar store.

My wife says it is time to get rid of coins, because they no longer serve
much of any purpose.

Instead, I countered that it is time to revalue our money, so that the
bills and the coins are worth something again.

I think revaluing coins should be done at a 100 to 1 ratio. 1 penny next
month would be worth what 100 pennies are now. 25 cents next month would
buy what $25 buys right now.

Of course, all the old coins and bills would become worthless, but I think
that is a fair price to pay in order for pennies and nickels to become
valued again by everyone.

What say you?

"OhioGuy" wrote in message ...
With inflation, it is really getting to the point where coins aren't
worth much. In fact, you need a whole fistful to buy even much of
anything at a dollar store.

My wife says it is time to get rid of coins, because they no longer
serve much of any purpose.

Instead, I countered that it is time to revalue our money, so that
the bills and the coins are worth something again.

I think revaluing coins should be done at a 100 to 1 ratio. 1 penny
next month would be worth what 100 pennies are now. 25 cents next
month would buy what $25 buys right now.

Of course, all the old coins and bills would become worthless, but I
think that is a fair price to pay in order for pennies and nickels to
become valued again by everyone.

What say you?

I say the Usenet is a wonderful forum for every crackpot with a wild
scheme.

"OhioGuy" wrote in message ...
With inflation, it is really getting to the point where coins aren't
worth much. In fact, you need a whole fistful to buy even much of
anything at a dollar store.

My wife says it is time to get rid of coins, because they no longer serve
much of any purpose.

They sure help to make change. Otherwise, they're becoming more and more
inconvenient to carry and spend.


Instead, I countered that it is time to revalue our money, so that the
bills and the coins are worth something again.

Don't argue with your wife.


I think revaluing coins should be done at a 100 to 1 ratio. 1 penny next
month would be worth what 100 pennies are now. 25 cents next month would
buy what $25 buys right now.

Why the need to revalue? Let nature take its course and use what you like.
Or not.


Of course, all the old coins and bills would become worthless, but I
think that is a fair price to pay in order for pennies and nickels to
become valued again by everyone.

What say you?

Don't argue with your wife.

And I'll be glad to take all the worthless dimes, quarters, halves, and any
denomination bills you have lying around. You can keep those valuable
pennies and nickels.

On Wed, 08 Jul 2009 16:58:52 -0500, OhioGuy wrote:

With inflation, it is really getting to the point where coins aren't
worth much. In fact, you need a whole fistful to buy even much of
anything at a dollar store.

My wife says it is time to get rid of coins, because they no longer
serve
much of any purpose.

Instead, I countered that it is time to revalue our money, so that the
bills and the coins are worth something again.

I think revaluing coins should be done at a 100 to 1 ratio. 1 penny
next
month would be worth what 100 pennies are now. 25 cents next month
would buy what $25 buys right now.

Of course, all the old coins and bills would become worthless, but I
think
that is a fair price to pay in order for pennies and nickels to become
valued again by everyone.

What say you?

I say leave it the way it is. None of that (your wife's idea nor yours)
makes any real sense.

If the currency could be "revalued" how would that work against the
foreign currency?

Since China and many other countries hold so many treasuries, how would
that work?

Your idea is to make the cent = the dollar. My coffee costs 1.25
presently. It would immediately cost 2.00. (Well, 2 cents, but your cents
are worth one dollar.) Oh wait, there was tax of .15 in that price. Uncle
sam still needs to get something, so now my cup of coffee is 3.00, since
there is no smaller division than a cent, which is really a dollar.
Now I stop for gas. Yesterday it was 3.05. Now it's only 4 cents a
gallon, with one more cent for tax. 5 cents a gallon, which as far as
buying power again, is 5 dollars.

Really your wife's idea and yours are one in the same economically. Make
one dollar the lowest denomination, just in your case we are using coins
still. We obviously live in very different neighborhoods.

Wait, does that mean my hourly rate of pay, and everyone else who gets
simple wage increases, gets dollar an hour raises instead of 30 cents?

--
dw

"OhioGuy" wrote in message ...
Wait, does that mean my hourly rate of pay, and everyone else who gets
simple wage increases, gets dollar an hour raises instead of 30 cents?

Yes - imagine if you will a postage stamp that could stay the same
price for 20 years. Other prices would not fluctuate all over the
place, either. It would make life much more convenient.

Why would lopping off some zeroes lead to stable prices there genius?
All the inflationary forces that are now in play would still be there.
But like I said earlier, the Usenet provides an excellent forum for
crackpots with harebrained schemes.

Bob F. wrote:
"OhioGuy" wrote in message
...
Wait, does that mean my hourly rate of pay, and everyone else who
gets simple wage increases, gets dollar an hour raises instead of 30
cents? Yes - imagine if you will a postage stamp that could stay the same
price for 20 years. Other prices would not fluctuate all over the
place, either. It would make life much more convenient.

Why would lopping off some zeroes lead to stable prices there genius?
All the inflationary forces that are now in play would still be there.
But like I said earlier, the Usenet provides an excellent forum for
crackpots with harebrained schemes.

There are psychological considerations in all this. Lopping off zeroes can
have a positive effect on the way people view the value of their fiat
currency if it is done correctly. Usually it isn't. The French had an
absolute stroke of genius in 1958, not so much by issuing one new franc for
one hundred old francs, but by bringing back a favorite motif, i.e. la
semeuse, exactly the same as she was in the 1910s. The replacement paper
money was also very well designed and printed. Maybe we should bring back
the standing liberty quarter for the same reason. It exudes solidity, and
that is what everyone wants in a currency. It can become a self-fulfilling
prophecy of sorts.

James of the Belle Epoque

Wait, does that mean my hourly rate of pay, and everyone else who gets
simple wage increases, gets dollar an hour raises instead of 30 cents?

Yes - imagine if you will a postage stamp that could stay the same price
for 20 years. Other prices would not fluctuate all over the place, either.
It would make life much more convenient.

I have looked up the word provalue in several eminent dictionaries, and can
find no trace of that word. Perhaps we should inform the Oxford English Dictionary.

I would be obliged if someone could explain exactly what it means
and from what roots it is derived. Is it common US-speak?

The nearest I can get is 'revalue'

:-)

--
Tony Clayton
Coins of the UK : http://www.coins-of-the-uk.co.uk
Sent using RISCOS on an Acorn Strong Arm RiscPC
.... Feet Smell? Nose Run? Hey, you're upside down!

"OhioGuy" wrote in message ...
Why would lopping off some zeroes lead to stable prices there
genius?

The stability would derive from the point that you mentioned - a
penny change would equal a dollar change in today's money. Let's say
a first class stamp costs a dollar. (ha - give them another 16 years)
A 4% a year inflation rate would mean it would be constantly changing,
and people would always have to add extra stamps to the old ones after
the price changed. If you look in the past, how long did the price of
a first class stamp stay at 1c? A LONG time - decades. Stability.

find no trace of that word. Perhaps we should inform the Oxford
English Dictionary. The nearest I can get is 'revalue'

I originally was going to use the term 'revalue', but then I realized
that there was already a term "devalue". I thought of the words
"promote" and "demote", and then I figured that a term such as
"provalue", or make worth more, should be used instead. Did I goof?

Ok, you've convinced me.
Not only are you a crackpot but you are a complete ignoramus as well.

Why would lopping off some zeroes lead to stable prices there genius?

The stability would derive from the point that you mentioned - a penny
change would equal a dollar change in today's money. Let's say a first
class stamp costs a dollar. (ha - give them another 16 years) A 4% a year
inflation rate would mean it would be constantly changing, and people would
always have to add extra stamps to the old ones after the price changed. If
you look in the past, how long did the price of a first class stamp stay at
1c? A LONG time - decades. Stability.

find no trace of that word. Perhaps we should inform the Oxford English
Dictionary. The nearest I can get is 'revalue'

I originally was going to use the term 'revalue', but then I realized that
there was already a term "devalue". I thought of the words "promote" and
"demote", and then I figured that a term such as "provalue", or make worth
more, should be used instead. Did I goof?