Would redesigning the dollar help the economy?
Written by Joe O'Donnell on May 20, 2009 – 3:38 pm -A popular design focused site is holding a contest to redesign the dollar: “It seems so obvious to us that the ‘only’ realistic way for a swift economic recovery is through a thorough, in-depth, rebranding scheme – starting with the redesign of the iconic US Dollar”
-Do you think changing how the dollar looks will help the economy?
-Do you think changing how the dollar looks is economically different than printing more dollars?
-What if the look of the dollar was changed by increasing the number on the dollar, say from $5 to $5000, would that help the economy?
If you think about these questions, I think you’ll see why Gold is going up in value, and has been the preferred form of money for most of written human history, until governments prevented it’s use as money. Why do you think they did that?
redesign the dollar contest
What has government done to our money?
History of American banking and money
The case against the Fed
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May 20th, 2009 at 4:09 pm
its called a coin, and its already in circulation.
May 20th, 2009 at 4:52 pm
Redesigning a colored piece of paper to be another piece of colored paper wont do anything but here’s what I think the current money we have is similar to.
http://www.jeremyinc.com/
May 20th, 2009 at 4:56 pm
Although I think the US government shouldn’t be allowed to create any type of money, the story behind the US dollar coin is interesting:
Dollar coins have found little popular acceptance in circulation in the United States since the early 20th century, despite several attempts since 1971 to phase in a coin in place of the one dollar bill. This contrasts with currencies of many other developed countries, where denominations of similar value exist only in coin, such as the Canadian loonie and toonie, British 50 pence coin (as well as the 1 pound and 2 pound British coins, though the Royal Bank of Scotland still maintains a £1 note), the 1 and 2 Australian Dollar coins, the 50 New Taiwan dollar coin, 100 and 500 Japanese yen coin, Swiss 1, 2 and 5 francs coin, 1 euro coin and 2 euro coin. These coins have largely succeeded because of a removal (or lack) of their corresponding paper issues, whereas the United States government has taken no action to remove the one-dollar bill, whether due to intensive lobbying by a small but active lobbying group or due to genuine consumer resistance.
http://en.wikipedia.org/wiki/Dollar_(United_States_coin)
Save the Greenback is an organization of U.S. Bureau of Engraving and Printing employees and paper and ink suppliers opposed to phasing out the paper dollar. The group formed to counter the influence of the Coin Coalition.
Public opinion has tended to favor the dollar bill, although in 2000, the Government Accountability Office reported that a full implementation of the dollar coin could save $500 million a year.[1] ‘Save the Greenback’ successfully prevented a dollar bill phaseout with the help of legislators influenced by special interest groups including Mississippi Senator Trent Lott and Massachusetts Senator Ted Kennedy. Lott’s constituency includes the powerful cotton industry, which produces fabrics used in the paper dollar; Kennedy’s includes the Crane Paper Company which produces American banknote paper.
http://en.wikipedia.org/wiki/Save_the_Greenback
May 21st, 2009 at 11:18 am
I’m all in favor of redesigning our bills, as they are among the ugliest in the world.
However, there is no need to redesign the $1 bill as it should be eliminated instead. We would save $600 million a year by using the more convenient dollar coin instead of printing and printing and printing dollar bills.
Due to inflation, we have no more need for a $1 bill today than we had for a 25¢ bill in the 1970s.
So redesign our bills if you want, but please eliminate the wasteful dollar bill!
Paul
May 21st, 2009 at 12:41 pm
Put a pig in a dress and you still have a pig.
May 23rd, 2009 at 4:30 pm
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