Message to the President.

I know it'll never go anywhere but I sent the following message to the President through the White House web site.

Am I crazy, delusional, or what?

SAVE HUNDREDS OF MILLIONS OF DOLLARS ANNUALLY.

1. Go to the concept of rounding final costs to the nearest Nickel.
2. Eliminate the Penny - no one uses them anyway.
3. Eliminate the Half Dollar - no one uses them either.
4. Eliminate the One Dollar bill - it's not needed since we have Dollar coins.
5. Pump up the production and distribution of Two Dollar bills.
6. Once those steps have been taken and are established, we could eliminate the Dime and just use Nickels, Quarters and Dollar coins, along with the Two, Five, Ten, Fifty and One Hundred dollar bills.
7. Make a significant design change to the One Hundred dollar bill and de-monetize the current circulating Hundreds, first giving a reasonable period for exchange of new for old, and requiring an accounting for anyone in possession of more than, say 100 of them. This would totally break the back of the drug and crime cartels who are the major users of those bills.​

Opinions?

 

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Using that logic, why not just round everything to the nearest half dollar? Why bother with odd numbers at all. That would completely eliminate small change alltogether. There's no reason prices for goods couldn't be rounded to an even number. Of course, this would cause rioting when those who already can't pay their bills and buy foods are told their charges will be rounded up, because services will make sure no charge reflects an amount that will ever round down.
Guy~

 

Well, good luck with that.

 

It is not the President's decision to make. He could bring the power of the Presidency to bear on the matter but the improvements you suggest must be acted on by the Congress.

 

Two of those things will happen in 2009.

There will be a $2.00 bill production this year. They print $2 bills every 3 years and the last one was in 2006.

The redesigned $100 bill should also be out this year with the image shifting made possible by the tiny lenses.


I would also keep the $20 bill.

 

I have a lot of messages for our president...But lets not get into that
Well, I wish ya' luck
I'd like to see the nickel gone, and I love the penny, but not a whole lot of people use them, nor do they use the...HALF DOLLAR!
If this was carried out, we would save money, but there are other ways to save our country money

 

First, we still price everything in hundredths of a dollar, so the rounding would take place on that level. And, this would only affect cash transactions. Payments by checks or credit cards would still be in hundredths of a dollar.

Second, There is no sense in trying to price things to come out "unroundable" since buying multiple items will always create a random net amount, especially when tax is added. No matter what you do the final digit in pricing, the total net price would be randomly from 0 through 9.

True, but if every proposal that would save money was disregarded because there are other ways to save, then no proposal would ever be considered.

 

How about cash and checks are eliminated all together (unless a buyer approaches a seller with a such a request), and all financial transactions are forced to be made with Paypal. ...Oh wait, not forced, you can use ProPay, of course!

 

I agree with everything, besides getting rid of the nickels and dimes

 

Right, this proposal is a good one, and I'd be for it.
So, with the money we save, we can pay debts.

 

I mostly agree with eliminating the 1$ bill. It's a total waste of money. Everyday almost I see 5 year old notes completely torn apart. Such a denomination should have been (exclusively) a coin since the 80s.

I think a 2$ denomination may be very useful. While we're at it, might as well make it a coin too.

As far as getting rid of the penny, I'm not sure that's feasible. Italy tried and could not do it. Could the US? Besides, is it even legal to be able to pay some things to the hundredth of a dollar, but not others, depending on the method of payment? If the answer is yes to both, then go for it.

I think #7 makes sense, but it's out of place, since the purpose is of a different nature.

Most of all, I want to congratulate you for doing something instead of just talking like most people.

 

All we need to do is issue everyone a debit card or a fob and take all of the money out of the equation all together.

American Express had a fob that you waved at the terminal and your card was charged. ExxonMobil had a speedpass, some concept. Just give everyone a fob that linked to a bank account (debit) or a credit card ..and problem solved.

There really is no need for any cash in todays world.

 

This will lead to great danger....
Enjoy cash while you can, that's all I'm going to say

 

Even with government-issued coupons that knock $40 off the price of a converter box we can't even get a potion of the US population to ready their analog TV sets for the switch to digital in June. How are we going to motivate these same people and many others to use a fob/card in a cashless society?

 

And if we did do this, everything would have to be back up, by gold and silver, how it should be..But most of America doesn't like this idea.

 

all the drug dealers i know use $20.00 bills.

 

An accounting of anyone owning more than 10,000 in cash in your new $100, sounds like state control to me. not good policy for a country designed around freedom.

 

Exactly.... So you want the Government to track every transaction you make??? Then they know with certainty of what they can tax more... I don't like Big Brother as it is...

 

Until you lose it or someone takes it. How about an RFID "pill" embedded in your hand or wrist?