Posted on 02/01/2012 6:46:31 PM PST by opentalk
Sens. John McCain (R-Ariz.) and Tom Harkin (D-Iowa) have introduced legislation that would permanently discontinue the $1 dollar note and replace it with a coin.
Harkin and McCain penned The Currency Optimization, Innovation and National Savings (COINS) Act in response to reports from the nonpartisan Government Accountability Office (GAO) that indicate that abandoning the note could save around $5.5 billion over the next 30 years. Specifically the COINS Act would require that Federal Reserve Banks discontinue the $1 note four years after enactment or once circulation of $1 coins exceeds 600 million annually.
(Excerpt) Read more at thehill.com ...
Yeah pants pocket will weare out much faster!
Interesting, India is pursuing cashless society, involves biometrics.
India already has HUNDREDS OF MILLIONS who live day to day in a cashless society, and without fear of their trouser pockets getting holes worn in them by coins.
Mercy you are right - how about half of our idiot politicians retire and we save much more than that in both salaries and stupid legislation. Have to say that includes both Republicans and Democrats.
I went to Canada this last summer. The Canadian dollar at that time was worth about 1.16 US Dollars. Exchanging money in Canada was an eye opener as to the devaluation of the US Dollar.
I believe the Canadian Dollar is now worth 1.0028 US Dollars. According to the XE Currency converter.
Of course when I visited Romania about eight years ago I converted $30.00 to one million lei.
Imagine where coins will end in strip clubs...
More proof that this A..hole is so out of touch.
Yes they are painstakingly close to a quarter.
I would also like to say that I have found upwards of 8 quarters in a pocket spill, so any argument that people would not carry 10 of them in their pocket is bunk.
It costs money for them to even propose this crap.
They pay someone to write a proposal and then dozens if not hundreds of copies are printed up and given to colleagues....
These Clowns have been pushing coins on us for the last 30 years and what’s it get the government.Store houses of useless coines that cost a fortune to create and keep secure.
If you come to my store, I give 90 cents for every American dollar. And you’ll give to me, when it’s 6am and you really need a coffee.
Then I take it to the bank and exchange it back to Canadian money and make a little bit of money doing it.
Come to my store and buy my merchandise.
>”Besides...if there are no more $1 bills, how are we going to show our appreciation to pole dancers?”<
Three words, Magnetic G Strings...
Or better
Ditch the Nickel too.
Both are wastes of pocket space
First off; if you are carrying more than 5 in your pocket then that is your own fault. Right now you are willing to carry at least 3 quarters in your pocket if you break a dollar.
Second; people will carry insane things in their pockets. Like I stated in a post above this one, I have found at least 8 quarters in a pocket spill. I have found that many on a few occasions. This tells me that people do not have a problem carrying that many medium sized coins in their pockets.
I watch $1 bills blow by me every day and it never even occurs to me to try to retrieve them.
OMG..THINK ABOUT THIS!!!..Who is gonna suffer the most?
Strip clubs and strippers....I am not gonna carry a big bag into the club..(I refuse)..Second...Do you know the liability insurance needed when you use coins to “Make it rain “ on strippers?..The injuries that will be suffered will be massive!...Repeal IMMEDIATELY!!!
A dollar is now worth about the same as a nickel was when we started printing them. It’s a good idea.
Coins or paper its going to be worthless soon anyway so who cares?
I guess it is easier to carry a bag full of coins than a wheel barrow full of dollars.
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