3 ms·
Why kill it? Why not just re-value it instead? For example, make its value $1000. Would maybe be a neat solution to the 1% problem.
by fit2rule 6y ago
Why kill it?
Why not just re-value it instead?
For example, make its value $1000.
Would maybe be a neat solution to the 1% problem.
- nordsieck 6y ago> Why not just re-value it instead? > For example, make its value $1000. The US used to have $1000 bills (and $10,000 bills, but those were only for internal gov't use). I'm pretty sure we're stuck with $100 as the top denomination to make organized crime more difficult. Also, it's WAY easier to counterfeit a coin than a bill.
- latch 6y agoSingapore & Brunei (1) had a $10000 bill until 2014 (worth ~7400 USD), and still have a $1000 bill (as does Switzerland with its better exchange rate) (1) I don't know what the word is (linked?) but their currency is interchangeable. You can go to a Singapore bank with $100 BND and get $100 SGD (no fee) and vice versa.
- nordsieck 6y ago> I don't know what the word is (linked?) but their currency is interchangeable. You can go to a Singapore bank with $100 BND and get $100 SGD (no fee) and vice versa. I believe the term is "pegged"[1], although what you describe sounds like it is much more involved. ___ 1. https://en.wikipedia.org/wiki/Fixed_exchange_rate_system https://en.wikipedia.org/wiki/Fixed_exchange_rate_system
- def8cefe 6y ago>Also, it's WAY easier to counterfeit a coin than a bill. I think that depends. Some countries do integrate security features in coins. The important question isn't whether it's easier, it's whether it's more cost effective. It's probably easier to counterfeit a USD penny than a USD $20 bill, but it would be less economical to do so.
- paulie_a 6y agoIn the EU a 500 note basically means you deal drugs. I think they were doing away with them entirely.
- walshemj 6y agoSome countries like to play for things like cars in cash