Forget ditching the penny: Let's multiply every coin value by 10
 

Forget ditching the penny: Let's multiply every coin value by 10
http://theweek.com/article/index/260...s-useful-again

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with thunder in His footsteps and lightning in His fists...

Forget ditching the penny: Let's multiply every coin value by 10
 

On Tuesday, April 29, 2014 5:55:09 PM UTC-4, Jim_Higgins wrote:
Forget ditching the penny: Let's multiply every coin value by 10

http://theweek.com/article/index/260...s-useful-again



--

with thunder in His footsteps and lightning in His fists...

Multiply every coin value by 10...and guess what comes next? Yep, you got it right the first time!!! Prices will also go up by a factor of 10. Sheesh! This guy should be a politician!

Forget ditching the penny: Let's multiply every coin value by 10
 

The value of U.S. Coins in circulation as of May 31, 2010 was approximately $40.4 billion, or about 4.3% of total currency and coin in circulation.

- Congressional testimony by a representative of the Federal Reserve System on July 20, 2010.


The plan in the article is trivial in potential impact. If there were a stimulative effect, it would be rather limited.

If the Fed has injected over five trillion dollars, or more, into the banking system since 2007, what would be the impact of another $400 billion?

The biggest objections would be (1) that the hoi polloi would receive the benefit, and not so much the upper classes, and (2) probably one-half of all Americans are unable to multiply by ten, so they would be too confused.

Good analysis, Jugghead!

Oly

Forget ditching the penny: Let's multiply every coin value by 10
 

"Jud" wrote in message
...

On Tuesday, April 29, 2014 5:55:09 PM UTC-4, Jim_Higgins wrote:
Forget ditching the penny: Let's multiply every coin value by 10

Multiply every coin value by 10...and guess what comes next? Yep, you got it
right the first time!!! Prices will also go up by a factor of 10. Sheesh!
This guy should be a politician!

Higgins is widely known as a moron and troll.
Nevertheless, deluding himself that he actually has one working brain cell left,
he likes to come here and make idiotic remarks every so often.
However, I think he really comes here to be abused and mocked.