As you know, Canada no longer uses a paper dollar.
For decades now the United States has been talking about going to a one dollar coin as well, but we haven't yet.
Why not you ask? It's hard to say, but I would submit to you that it isn't so much about the cost of creating coins versus paper because the coins last quite a bit longer, rather the problem is; the return on investment of the creation of that coin.
In other words, if we created a coin, it won't actually be worth a dollar anymore if we continually print money, our currency will be so debased that it won't be worth much.
Okay so let's talk shall we? The Federal Government has noted that it can save $4.
4 Billion over the next 30-years by going to a coin rather than a paper dollar bill.
In fact, the USA Today had an article on this on November 30, 2012 titled; "Congress looks at doing away with the $1 bill.
" Well, I would submit to you that perhaps the federal government needs to be looking at ways to save money, and yes, this is one way, albeit if they don't figure out a way to save more money, the money will not be worth anything within 30 years, so they will not have saved anything anyway.
Further, this current administration is spending over $1 trillion per year up and above the amount of money they collect in taxes.
That's outrageous, and $1 trillion equals 1000 billion.
So saving 4.
4 billion over 30 years is a drop in the bucket compared to how much this administration is spending each year.
It's not that 4.
4 billion isn't a lot of money, it certainly is, in fact it is a tremendous amount of money, but I think our federal government needs to start figuring out how to cut its costs, and stop spending the nation's treasury into oblivion, and borrowing our economy into a permanent depression.
In the future $10 may only be worth one dollar in today's money.
Therefore saving $4.
4 billion over 30 years is really only saving one 10th of that, and therefore one has to ask why our federal government isn't working on the more important things and fixing the problem? Perhaps we ought to talk more about that, and the true reality of our economy and currency moving forward.
That would be my thinking, and I hope you will please consider all this and think on it also.
For decades now the United States has been talking about going to a one dollar coin as well, but we haven't yet.
Why not you ask? It's hard to say, but I would submit to you that it isn't so much about the cost of creating coins versus paper because the coins last quite a bit longer, rather the problem is; the return on investment of the creation of that coin.
In other words, if we created a coin, it won't actually be worth a dollar anymore if we continually print money, our currency will be so debased that it won't be worth much.
Okay so let's talk shall we? The Federal Government has noted that it can save $4.
4 Billion over the next 30-years by going to a coin rather than a paper dollar bill.
In fact, the USA Today had an article on this on November 30, 2012 titled; "Congress looks at doing away with the $1 bill.
" Well, I would submit to you that perhaps the federal government needs to be looking at ways to save money, and yes, this is one way, albeit if they don't figure out a way to save more money, the money will not be worth anything within 30 years, so they will not have saved anything anyway.
Further, this current administration is spending over $1 trillion per year up and above the amount of money they collect in taxes.
That's outrageous, and $1 trillion equals 1000 billion.
So saving 4.
4 billion over 30 years is a drop in the bucket compared to how much this administration is spending each year.
It's not that 4.
4 billion isn't a lot of money, it certainly is, in fact it is a tremendous amount of money, but I think our federal government needs to start figuring out how to cut its costs, and stop spending the nation's treasury into oblivion, and borrowing our economy into a permanent depression.
In the future $10 may only be worth one dollar in today's money.
Therefore saving $4.
4 billion over 30 years is really only saving one 10th of that, and therefore one has to ask why our federal government isn't working on the more important things and fixing the problem? Perhaps we ought to talk more about that, and the true reality of our economy and currency moving forward.
That would be my thinking, and I hope you will please consider all this and think on it also.
Source...