7 ms·

I really like Andrew Jackson, it's too bad he's going instead of Hamilton. Can't believe they want to take Lincoln off the 5$ bill though. Why can't we just ad

by orik 10y ago

I really like Andrew Jackson, it's too bad he's going instead of Hamilton. Can't believe they want to take Lincoln off the 5$ bill though. Why can't we just add new denominations of currency into the system? Bring back the 500$/1000$/5000$/10000$ bills? Perhaps instead add a 25$ bill and a 200$/250$ bill?

jdavis703 10y ago
Or just have lots of designs like euros.
venomsnake 10y ago
>Bring back the 500$/1000$/5000$/10000$ bills? Only terrorists, pedophiles and drug dealers use large denomination bills. Ordinary people have no use of paying big sums anonymously. Or the wages to make obtaining such sums possible. /sarcasm There was some whining recently that 500 Euro was just too big of a banknote. i generally support the ability of citizens to do financial transactions anonymously. We have more than enough ways to track everything else.
- jdavis703 10y ago
  I had a currency exchanger claim that the largest bill I could get had a value of around $15 USD and that they did not deal in high value notes.
dnautics 10y ago
I hate Andrew Jackson, and it's too bad he's going instead of Hamilton. I'd be all for replacing every statue of Jackson across the nation with, say, Tubman, but the one place where Jackson should stay is the money: it was long a snide reminder that if the central bank gets too out of hand in shoveling money into the faces of the wealthy at the expense of the people, a populist president could rise and take them down. It's rather telling that we are going to lose this symbolism. I would be for erecting a giant statue of Jackson in front of the federal reserve building in dc.
GFK_of_xmaspast 10y ago
> I really like Andrew Jackson On what grounds.
- deleted 10y ago
  [deleted]
- orik 10y ago
  I'm glad you asked. The history of the 1824 & 1828 presidential election is really interesting. The first four U.S. Presidents were founding fathers, so the election of 1824 was the first time it was a completely different generation vying for what direction we should take the country in. John Quincy Adams, son of President John Adams, seemed like he fit the bill. He was secretary of state, and Jefferson, Madison, and Monroe all had served as Secretary of State before taking the mantel. Andrew Jackson was cut from a different cloth as the first five presidents. Not wealthy/educated/elite/eastern, Andrew Jackson instead was a frontiers man and a war hero. By the time the votes were tallies, Jackson won the popular vote, but since the race was split between more than two candidates and he only had a plurality but not a majority (more votes than anyone else, but less than 50%), congress got to decide the next President. In a move of backroom bargaining, John Q. Adams offers the then speaker of the house Henry Clay a position as the 9th Secretary of State in exchange for whipping the votes. It worked. Screwed out of an election that should have been his, Andrew Jackson held his tongue and his temper and instead looked towards the next election where he knocked the sitting president out of office. Who are your favorite founding fathers of the U.S.A.?
  - tptacek 10y ago
    Jackson wasn't a founder, so that last question is a little odd.
    - orik 10y ago
      hahaha touché. I was kinda peeved someone asked me on what grounds I like something (what grounds are needed, we like what we like?) and I thought the best way to turn that around was to ask GFK about what they like (-:
gradys 10y ago
Adding $25 USD bills would break the greedy choice property for making change. Making $40 in change using a greedy strategy would mean selecting a 25, a 10, and a 5, while the optimal choice is to select two 20s.
- unprepare 10y ago
  what about change for 50?
  - mcphage 10y ago
    It would be fewer bills than without the $25, but the greedy strategy would still work for both (without, you'd get 3 bills: $20, $20, $10, and that's the optimal). Whereas change for $40, the greedy strategy will give you 3 bills: $25, $10, $5—which is more than the optimal 2 bills.
    - unprepare 10y ago
      change of 50 in two bills and change of 40 in three, is less optimal than change of 50 in three and 40 in two?
      - mcphage 10y ago
        It's not about comparing the number of bills vs. each other—it's not surprising that adding an additional denomination lets you make change in fewer bills. It's about whether the greedy algorithm for making change gets you the optimum number. Currently it does, but if you add a $25 bill, it would not. Currently: $40: greedy: $20, $20 optimal: $20, $20 is greedy optimal: Yes $50: greedy: $20, $20, $10 optimal: $20, $20, $10 is greedy optimal: Yes Including a $25 bill: $40: greedy: $25, $10, $5 optimal: $20, $20 is greedy optimal: No $50: greedy: $25, $25 optimal: $25, $25 is greedy optimal: Yes
- dkuntz2 10y ago
  Given that we don't have $40 bills, I'm not sure this is a problem.
OrwellianChild 10y ago
Lincoln is still on the $5. They're just updating the reverse. Per the official announcement by Sec. Lew: The reverse of the new $5 will depict the historic events that have occurred at the Lincoln Memorial. In 1939, at a time when Washington’s concert halls were still segregated, world-renowned Opera singer Marian Anderson helped advance civil rights when, with the support of First Lady Eleanor Roosevelt, she performed at the Lincoln Memorial in front of 75,000 people. And in 1963, Martin Luther King, Jr. delivered his historic “I Have a Dream” speech at the same monument in front of hundreds of thousands. Honoring these figures will bring to life events at the Lincoln Memorial that helped to shape our history and our democracy. The front of the new $5 will continue to feature President Lincoln.
harryh 10y ago
> Bring back the 500$/1000$/5000$/10000$ bills? There is a practical reason not to do this btw. Bills of this size get used for criminal purposes. Lawrence Summers had a recent OpEd in The Post calling for the elimination of the $100 for this reason. https://www.washingtonpost.com/news/wonk/wp/2016/02/16/its-time-to-kill-the-100-bill/ https://www.washingtonpost.com/news/wonk/wp/2016/02/16/its-t...
- avyfain 10y ago
  So do $1s and $5s and $10s.

by orik 10y ago

jdavis703 10y ago

Or just have lots of designs like euros.

venomsnake 10y ago

>Bring back the 500$/1000$/5000$/10000$ bills? Only terrorists, pedophiles and drug dealers use large denomination bills. Ordinary people have no use of paying big sums anonymously. Or the wages to make obtaining such sums possible. /sarcasm There was some whining recently that 500 Euro was just too big of a banknote. i generally support the ability of citizens to do financial transactions anonymously. We have more than enough ways to track everything else.

jdavis703 10y ago
I had a currency exchanger claim that the largest bill I could get had a value of around $15 USD and that they did not deal in high value notes.

dnautics 10y ago

I hate Andrew Jackson, and it's too bad he's going instead of Hamilton. I'd be all for replacing every statue of Jackson across the nation with, say, Tubman, but the one place where Jackson should stay is the money: it was long a snide reminder that if the central bank gets too out of hand in shoveling money into the faces of the wealthy at the expense of the people, a populist president could rise and take them down. It's rather telling that we are going to lose this symbolism. I would be for erecting a giant statue of Jackson in front of the federal reserve building in dc.

GFK_of_xmaspast 10y ago

> I really like Andrew Jackson On what grounds.

deleted 10y ago
[deleted]
orik 10y ago
I'm glad you asked. The history of the 1824 & 1828 presidential election is really interesting. The first four U.S. Presidents were founding fathers, so the election of 1824 was the first time it was a completely different generation vying for what direction we should take the country in. John Quincy Adams, son of President John Adams, seemed like he fit the bill. He was secretary of state, and Jefferson, Madison, and Monroe all had served as Secretary of State before taking the mantel. Andrew Jackson was cut from a different cloth as the first five presidents. Not wealthy/educated/elite/eastern, Andrew Jackson instead was a frontiers man and a war hero. By the time the votes were tallies, Jackson won the popular vote, but since the race was split between more than two candidates and he only had a plurality but not a majority (more votes than anyone else, but less than 50%), congress got to decide the next President. In a move of backroom bargaining, John Q. Adams offers the then speaker of the house Henry Clay a position as the 9th Secretary of State in exchange for whipping the votes. It worked. Screwed out of an election that should have been his, Andrew Jackson held his tongue and his temper and instead looked towards the next election where he knocked the sitting president out of office. Who are your favorite founding fathers of the U.S.A.?
- tptacek 10y ago
  Jackson wasn't a founder, so that last question is a little odd.
  - orik 10y ago
    hahaha touché. I was kinda peeved someone asked me on what grounds I like something (what grounds are needed, we like what we like?) and I thought the best way to turn that around was to ask GFK about what they like (-:

gradys 10y ago

Adding $25 USD bills would break the greedy choice property for making change. Making $40 in change using a greedy strategy would mean selecting a 25, a 10, and a 5, while the optimal choice is to select two 20s.

unprepare 10y ago
what about change for 50?
- mcphage 10y ago
  It would be fewer bills than without the $25, but the greedy strategy would still work for both (without, you'd get 3 bills: $20, $20, $10, and that's the optimal). Whereas change for $40, the greedy strategy will give you 3 bills: $25, $10, $5—which is more than the optimal 2 bills.
  - unprepare 10y ago
    change of 50 in two bills and change of 40 in three, is less optimal than change of 50 in three and 40 in two?
    - mcphage 10y ago
      It's not about comparing the number of bills vs. each other—it's not surprising that adding an additional denomination lets you make change in fewer bills. It's about whether the greedy algorithm for making change gets you the optimum number. Currently it does, but if you add a $25 bill, it would not. Currently: $40: greedy: $20, $20 optimal: $20, $20 is greedy optimal: Yes $50: greedy: $20, $20, $10 optimal: $20, $20, $10 is greedy optimal: Yes Including a $25 bill: $40: greedy: $25, $10, $5 optimal: $20, $20 is greedy optimal: No $50: greedy: $25, $25 optimal: $25, $25 is greedy optimal: Yes
dkuntz2 10y ago
Given that we don't have $40 bills, I'm not sure this is a problem.

OrwellianChild 10y ago

Lincoln is still on the $5. They're just updating the reverse. Per the official announcement by Sec. Lew: The reverse of the new $5 will depict the historic events that have occurred at the Lincoln Memorial. In 1939, at a time when Washington’s concert halls were still segregated, world-renowned Opera singer Marian Anderson helped advance civil rights when, with the support of First Lady Eleanor Roosevelt, she performed at the Lincoln Memorial in front of 75,000 people. And in 1963, Martin Luther King, Jr. delivered his historic “I Have a Dream” speech at the same monument in front of hundreds of thousands. Honoring these figures will bring to life events at the Lincoln Memorial that helped to shape our history and our democracy. The front of the new $5 will continue to feature President Lincoln.

harryh 10y ago

> Bring back the 500$/1000$/5000$/10000$ bills? There is a practical reason not to do this btw. Bills of this size get used for criminal purposes. Lawrence Summers had a recent OpEd in The Post calling for the elimination of the $100 for this reason. https://www.washingtonpost.com/news/wonk/wp/2016/02/16/its-time-to-kill-the-100-bill/ https://www.washingtonpost.com/news/wonk/wp/2016/02/16/its-t...

avyfain 10y ago
So do $1s and $5s and $10s.