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House GOP wants to cash out dollar bill

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posted on Oct, 25 2011 @ 01:29 PM
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House Republicans have introduced legislation to retire the dollar bill and replace it with a mandated dollar coin. A pair of senators, however, have introduced a competing measure to protect the paper dollar from, as they call it, the “unpopular $1 coin.”



Rep. David Schweikert (Ariz.) and two other House Republicans — including supercommittee co-chairman Jeb Hensarling (Texas) — introduced legislation last week aimed at retiring the paper dollar. Schweikert said his bill would save billions of dollars over the next few decades by transitioning to a dollar coin in four years, or as soon as $600 million worth of dollar coins are in circulation


thehill.com...

Alright the plan to save money is to get rid of the dollar and make people carry around a dollar coin. Talk about ridiculous.

For the thinking ATS reader sounds like the setup going to a cashless society they can't track cash but they track your plastic.

Pretty much think this is a stupid idea if they want to save money all those idiots have to do is stop printing it.

Doh! Congress is the Homer Simpson of real life.
edit on 25-10-2011 by neo96 because: (no reason given)



posted on Oct, 25 2011 @ 01:36 PM
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So, we'll have worthless coins instead of bills...
It would be funny if it weren't tragic.



posted on Oct, 25 2011 @ 01:36 PM
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reply to post by neo96
 


But where will all the strippers...um, exotic dancers put the one dollar coins?


On second thought...don't answer.



posted on Oct, 25 2011 @ 01:39 PM
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Originally posted by TDawgRex
reply to post by neo96
 


But where will all the strippers...um, exotic dancers put the one dollar coins?


On second thought...don't answer.
I take it you have never seen one pick up a bottle cap without using her hands?



posted on Oct, 25 2011 @ 01:39 PM
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Originally posted by Kali74
So, we'll have worthless coins instead of bills...
It would be funny if it weren't tragic.


Maybe they could be minted from a percentage of silver.

You know? Like the old days.



posted on Oct, 25 2011 @ 01:40 PM
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make them out of silver and ill buy it!



posted on Oct, 25 2011 @ 01:41 PM
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Originally posted by TDawgRex

Originally posted by Kali74
So, we'll have worthless coins instead of bills...
It would be funny if it weren't tragic.


Maybe they could be minted from a percentage of silver.

You know? Like the old days.
The federal reserve would never go for it. Then the money would have actual "intrinsic value". They can't allow that. It is too difficult to devalue currency that has actual value. Fiat currency is very important to their plans. I believe that that is why they killed Kennedy.



posted on Oct, 25 2011 @ 01:41 PM
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This won't ever catch on. This idea finds itself floating around Congress every few years, not anything really new. It would save money but the public does not like $1 coins. And ultimately people are more willing to pay the wasted money for a paper bill over a minted coin.



posted on Oct, 25 2011 @ 01:42 PM
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Originally posted by DarthMuerte

Originally posted by TDawgRex
reply to post by neo96
 


But where will all the strippers...um, exotic dancers put the one dollar coins?


On second thought...don't answer.
I take it you have never seen one pick up a bottle cap without using her hands?


Not stepping into that trap Darth.


Gotta stay within the T&C.

Back on topic though. I recently read a post from a Canadian women who says carrying her purse is akin to lifting weights with all the coinage.



posted on Oct, 25 2011 @ 01:43 PM
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we did that her in canada a while ago,we just got rid of the $1 & $2 bills,and replaced them with coins.i dont know if it helped or not,but when ya got $20 in change in yer pocket,it makes it hard to keep your pants up!


this year in nov. were starting to print our 'plastic' bills. $100 bills first, $50 next spring,and then all bills by 2013!



posted on Oct, 25 2011 @ 01:45 PM
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Originally posted by TDawgRex
reply to post by neo96
 


But where will all the strippers...um, exotic dancers put the one dollar coins?


On second thought...don't answer.



posted on Oct, 25 2011 @ 01:46 PM
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Originally posted by DarthMuerte

Originally posted by TDawgRex
reply to post by neo96
 


But where will all the strippers...um, exotic dancers put the one dollar coins?


On second thought...don't answer.
I take it you have never seen one pick up a bottle cap without using her hands?


Someones been to Thailand!! Seriously though, counterfeit anyone, all you need is the right stamp and metal mixture and voila, your own 1$coin



posted on Oct, 25 2011 @ 01:48 PM
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I wonder if this is to get some use out of the billions of $1 coins we're warehousing pointlessly and proofing everyday.

Fed keeps printing coins nobody wants

They havent stopped wasting money on the coins because it would take an act of law to stop it. Maybe it's just easier for them to mandate coin use rather than admit to gross stupidity and use the metal in those coins for something else?



posted on Oct, 25 2011 @ 01:49 PM
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And the old "Sorry Ive got no change" excuse for panhandlers will go right out the window, jingle jingle jingle....
Sagging pants...yeah on the ground if you got any money yo!
Poker games will become more streamlined I guess... who needs chips... I got coins



posted on Oct, 25 2011 @ 01:49 PM
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That's the problem up here in Canada. If we want to tip strippers it has to be a 5er or more! can't be throwing townies around!


I don't see how that saves money moving to a coin? isn't metal/dies more expensive than paper and ink? I don't know.



posted on Oct, 25 2011 @ 01:52 PM
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Originally posted by Vardoger

I don't see how that saves money moving to a coin? isn't metal/dies more expensive than paper and ink? I don't know.


The money has already been spent and the coins have already been minted. Check the story in my post above.

They're just trying to make the best out of their own stupid decision. Something which inevitably results in an even more stupid decision.



posted on Oct, 25 2011 @ 01:57 PM
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Originally posted by Vardoger
That's the problem up here in Canada. If we want to tip strippers it has to be a 5er or more! can't be throwing townies around!


I don't see how that saves money moving to a coin? isn't metal/dies more expensive than paper and ink? I don't know.


It's cheaper because the lifespan of a coin is much greater than that of a paper dollar bill. If I'm not mistaken, the lifespan of a dollar bill is less than one year, so it takes an ongoing printing process just to keep up. Not to mention the ongoing cost of sorting and destroying the worn out currency, including the security cost while the process is taking place.



posted on Oct, 25 2011 @ 02:02 PM
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As long as they are silver or gold I will go for it, platinum is good too. Baser metals can be just as worthless as paper in the long run.



posted on Oct, 25 2011 @ 02:04 PM
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Originally posted by Vardoger
That's the problem up here in Canada. If we want to tip strippers it has to be a 5er or more! can't be throwing townies around!


I don't see how that saves money moving to a coin? isn't metal/dies more expensive than paper and ink? I don't know.


Coins made from metal, have a much longer life than a paper bill does, therefore the coin would not need to be replaced/ recycled as often. Basically lowering the cost of production.



posted on Oct, 25 2011 @ 02:06 PM
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Originally posted by TDawgRex
reply to post by neo96
 


But where will all the strippers...um, exotic dancers put the one dollar coins?


On second thought...don't answer.




You guys are cheap. Poor strippers. Literally

Up here, we don't have bills less than a $5.
We got our $1 coin in 1987, and our $2 coin in 1996.
I like it, you get used to it fast.
They go through the laundry better too......




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