SUBTERFUGE Forums

silverberg wrote:

nojo34 wrote:That's the *one* thing the great white north has over us in the us. Pennies are such a drag do deal with and lose the government money...

but if we abolish the penny, then stores are gonna start rounding prices to 5c and the nickel will effectively become the new penny!

Well yes but the government makes a profit off of nickels. Pennies cost more to make than they're worth

coltspaesano wrote:Pennies cost more to make than they're worth

A penny 50 years ago could buy you what it takes a quarter to today. You can certainly abolish a penny now to help the government not lose as much value over the minting process, but in a few years your substitute coin is gonna drop in value and stop being profitable. Is the answer then to keep abolishing, the nickel, the dime, the dollar?

Why not?

Oh wait, over time the smallest con will be "supposedly" worth like 1million $s and you got Turkey all over again.

I think coins overall are unnecessary. They cost too much to make (not as of right now but like you said, in the future, inflation results in lower currency value while costs of metals maintain or increase. I think if we saved all the metals that go towards coins at the Mint (can't remember what Americans call it...), and instead used those coin metals for things of actual use, it would be better.
If the government feels the need to keep cash around (which I think it should since I only really use cash anyways), then they could just make coins out of plastic or paper (like superior Canadian "funny money"/"monopoly money").
Coins are a waste overall imo (and the cost to replace machines and stuff that take coins will suck but whatever, its a natural part of development)

coltspaesano wrote:I think coins overall are unnecessary. They cost too much to make (not as of right now but like you said, in the future, inflation results in lower currency value while costs of metals maintain or increase. I think if we saved all the metals that go towards coins at the Mint (can't remember what Americans call it...), and instead used those coin metals for things of actual use, it would be better.
If the government feels the need to keep cash around (which I think it should since I only really use cash anyways), then they could just make coins out of plastic or paper (like superior Canadian "funny money"/"monopoly money").
Coins are a waste overall imo (and the cost to replace machines and stuff that take coins will suck but whatever, its a natural part of development)

In that case we may as well abolish all paper money, all physical currency, and move to all-digital. The infrastructure exists, and many adults already use bank-issued cards to handle everyday transactions. The Swedes are all-digital, the Japanese are implementing their system, the Taiwanese aren't far behind. Why can't we step up and move to all-electronic currency? It'll be at no cost to banking institutions or the Federal Reserve to sprout numbers to their hearts' content.

I honestly believe that eliminating any currency is in fact a terrible idea.

I disagree. All digital currency is the best way to gap and I can't wait till if happens.

the bible wrote:And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name
Revelation 13:16-17

Hey would you look at that. At the end of the world it's literally illegal, to not have an electronic payment method. So.......wish granted!

I am Muslim but we still believe in the bible and Jesus and stuff. That verse looks like a reference to credit cards and is a miracle of the bible among many others.

silverberg wrote:

nojo34 wrote:That's the *one* thing the great white north has over us in the us. Pennies are such a drag do deal with and lose the government money...

but if we abolish the penny, then stores are gonna start rounding prices to 5c and the nickel will effectively become the new penny!

So you ever use nickels? I only do when buying candy from a gas station and I'm not worried about the 2 cents I'd lose from rounding. Canada's economy hasn't crashed so we should try it

whos sayin wrote:I am Muslim but we still believe in the bible and Jesus and stuff. That verse looks like a reference to credit cards and is a miracle of the bible among many others.

Credit cards aren't exactly a mark on your right hand or forehead. This hasn't happened yet, but the foundation for it has been laid. It sounds to me like implanted chips to be used as a payment form, which I think has already been developed or is being developed.