Thursday, March 01, 2007

One more failed coin experiment

So the mint has announced that we are going to get new one dollar coins, four released each year, to honor every one of our presidents. Now, I'm as big a fan of William Henry Harrison "I lasted thirty days" as the next guy, and I actually look forward to using these things, but until we get hip with the rest of the world and actually replace our paper dollars with coins, it is an experiment doomed to failure. Canada and Australia released their one dollar coins and within a very short time withdrew all of their paper singles. Heck, the Canadians even released a two dollar coin, but I'm not sure if they have withdrawn their two dollar bills. I'm sure that part of the decision to do this is to fuel the Obsessive Compulsive Disorder of many Americans, tens of thousands of whom will keep at least 43 of these coins out of circulation in their coin collections. Would somebody please explain to me how keeping coins out of circulation helps the economy? Is this the only way to get Americans to have savings? But really, the main reason to issue these coins is to appease the poor, deluded Ronald Reagan worshipers, who I am sure will collect thousands of his coins in honor of the guy who they feel personally, single handedly won the cold war. At least maybe this will derail their attempt to replace the Roosevelt dime with the Reagan dime. They refer to FDR as "the communist". Honestly, they do. One potential drawback, should the dollar bill be withdrawn, would be the potential impact on the stripper economy. Then again, if two dollar bills are kept in circulation, it means a dramatic raise for the hard working stripper industry. I'm sorry I just said that. Adios for now.

1 comment:

brucedene said...

I bet some kind of coin-pocket g-strings will be designed, and an elaborate deposit ritual will arise around it. Maybe there's pockets on the front, back and sides or something.

Anyway, last I checked, a single is a little insulting--nothing smaller than Mighty Abe. That's what your mom tells me, anyway.