Yes it makes sense to have a gold/silver backed currency BUT one needs to understand what sort of people are involved in these decisions. Those people are not sweet natured philanthropists looking at the greater good. They are financial sociopaths and i dont expect them to think the way we otherwise expect them to. We the people are not even in the game.
i agree, theres no doubt in my mind they want to get rid of cash altogether...and then having a card will be removed for a number of "good" reasons, and well have our info as a chip in our wrist or whatever...theyve already been experimenting with this (apparently).. Plus, I remember Mike Malony saying on his full length DVD that every time "we" use our credit cards, we are actually adding to the currency, ie: inflation..
Getting rid of cash would make sense for the government, the increase in cash revenue from all the mini cab drivers and tradies who would have to declare all earnings would certainly help to fund any change over. No more hiding transactions that you would rather keep quiet, no more dodgy drug deals, no more illegal prostitution, no more bribery (at the lower levels anyway), no more money laundering or smuggling. You could still do them all of course but you would need to use something other than cash, another good reason to stack PMs! I thought some people already volunteered for micro chips but that may just have been in an episode of CSI. The royal family doesn't carry cash and if it is good enough for them it is good enough for me. Did he say we cancelled this once it is paid off? I can understand that any interest generated by money conjured out of the air would also be adding to the money pool even if the original debt was paid off. Any way, back on thread, I am pretty sure the RBA said they were not considering scrapping it at this time but they didn't mention if they would change the composition, maybe a wooden 5 cent?
Yea, i think some people in the US volunteered to get chipped a lil while back as a trial run. If i can remember correctly, it held all their personal information in it and was supposed to help protect u from terrorism somehow *shrugs*
They would be crazy to do it. What is the point of adding .277% silver content?? There is no benefit in it. What will happen when silver does become expensive and/or difficult to obtain? then they are in a pickle for no reason.
Well they're in a pickle for a reason, of their own making. They're money-printing hyper-inflating bastards.
Either go with an amount of silver or a fiat unit, such as 10cents. But to have an amount of silver and a fiat denomination on the same coin means you are tying the price of silver to a dollar amount, and we are all witness to how volatile the value of silver is, one day your 10 cent would be worth more than 10 cents in silver and we would all head down to the smelters and the next day we would be asking for it back so we can buy groceries at the support value of 10 cents Having silver would make our currency stronger against the other currencies that are not backed by anything, maybe, unless the price of silver tanked. I think it would still be better than a plain old fiat currency backed by nothing and so do the people of Australia, witness the number of 1966 50 cent pieces you get in your change, of the 36 million minted I haven't seen any circulating, they were all pulled out of circulation pretty quickly. Though I did get a florin through the till once.
In the US there doesn't seem to be any talk about elimination of 1 & 5 cent coins thought it makes sense. Our nickel (5 cent coin, 25% nickel, 75% copper) now has a metal value of pushing 7 cents though the current pennies are plated zinc and worthless. The mint has tried on a couple of occasions to get us used to the idea of base metal $1 coins but it hasn't gone anywhere. The state legislature of Utah recently passed a resolution calling for the creation of money backed by gold and silver. Below is my favorite bill, issued shortly before Zimbabwe collapsed into a barter economy. Isn't this cool? I can just see the Zimbabwean economic team at a table discussing the fact that their latest 10 trillion dollar bill has the value of 2 squares of heavily soiled toilet paper. A bright one at the table has the flash of an idea that will save them all! He proposes the printing of the $100 trillion dollar bill. The meeting dissolves as the attendees laugh till they puke.
I read something a while ago about the scrapping of your 1c coins. I lived in a the states years back and those pennies are a scourge. get rid of em! Costing taxpayers dollars by minting the damn things
Behold: 1966: 30 million, RML 1966: 45.4 million, RAM 1967: 62.1 million, RAM 1968: 67.3 million, RAM 1969: 38.2 million, RAM 1970: 46.1 million, RAM 1971: 39.5 million, RAM 1972: 8.3 million, RAM <--- The next 1930 Penny 1973: 48.8 million, RAM 1974: 64.2 million, RAM 1975: 44.3 million, RAM 1976: 113.2 million, RAM 1977: 108.8 million, RAM 1978: 25.2 million, RAM 1979: 44.5 million, RAM 1980: 115 million, RAM 1981: 62 million, RAM 1981: 50 million, RCM 1981:50.3 million, RMLL 1982: 139.5 million, RAM 1983: 131.6 million, RAM 1984: 35.4 million, RAM
I've got the set of trillion dollar bills myself (100, 50, 20, 10) and i agree, it is very cool indeed. feels good to be a trillionaire!
Meh! It might be rarest of the decimals but there is no sexy back story about depression or anything like that, the 1925 penny will probably be the next 1930 penny but who remembers who came second anyway? Thanks for posting the mintages, I lent out my MacDonalds a while back, so that makes about 1369.7 Million of them floating around. That's a lot of scrap, how heavy are they?
TomD are all the nickels including the ones minted in or after 2008 of the same metal value as pre 2008 nickels?
