Message:

<p>[QUOTE=&quot;digitect, post: 1595163, member: 38157&quot;]Money can&#039;t simply be automatically re-valued without destroying the economy! I&#039;m surprised how many times I see this posted on coin collecting forums. This is a practical reality of economics.</p><p><br /></p><p>The reason is because the value of non-monitary assets are not automatically re-valued at the same time. Asking people to suddenly start assuming new values for everything they own is not practically possible. Is the car purchased last week for $20,000 really now only worth $200?! Is the loan also suddenly re-valued? Do all the drink machines suddely get converted from $1.50 to $0.01 per transaction?</p><p><br /></p><p>It gets more complicated for conversion to foreign currency, overseas assets, compounded interest, long-term asset re-valuation, etc. Remember, every single transaction system would have to be automatically converted at precisly the same fraction of a second or someone would be able to make billions on the conversion process. Not possible. Re-valuing money or artificially fixing its value is something dictatorial governments can do for the short term (Venezuela, pre-war Germany, USSR, Greece, etc.). But eventually it leads to collapse.</p><p><br /></p><p>No, my proposal is not to actually re-value our money, it is to simply stop producing coins with values or fractions of values less than ten cents. Prices can still be calculated with those cents, just like banks and gas stations currently calculate values with subfractions of cents. But the final transaction with physical money would be rounded to the nearest ten cents.[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in