What they have not told you is that one NEW dollar will be equal to TEN old ones.
***What they have not told you is that one NEW dollar will be equal to TEN old ones.***
That is because a dollar today is worth less than ten cents.
Remember the 10 cent coke? no tax.
Today it is about $1.35 before being taxed.
The three cent postage stamp today is forty four cents.
The 25 cent movie is today over six or seven dollars, and more in some areas. And they don’t even have a double feature on weekends!
I think you have that backwards. The new dollar will be equal to our current dime. If not the penney. Known as a devaluation. No government obligations will be revised to reflect this. But hey, the government didn’t default...did it?