8 Jan
1999
8 Jan
'99
6:25 p.m.
Computer Room Internet Cafe wrote:
The plastic stuff lasts somewhat longer, one reason
why they now use it
here.
To save money, the govt withdrew all coins below 5c, we now have $1 & $2
coins,
and notes for $5, $10, $20, $50 & $100, all plastic with fancy printing and
a transparent
window. Near impossible to counterfeit. (Which is the other reason it was
done)
When a government gets rid of the smallest denominations of the
money, it usually means they've given up and are going into a Weimar
1923 mode -- if this happens _before_ hyperinflation has actually
started, be afraid -- they think they know something you don't _and_
they own the printing presses. I'd thought the Aussie dollar was
fairly stable presently, but if your government has killed the small
change, it's a market to avoid. I often think the only reason the
US currency hasn't done that is because pennies are still around, if
they were to go away the people would realise how bad it it is and
the gubmint does _not_ want that spread around. And the US is still
the only country around with a history of a revolution that didn't
become worse than the previous choice within a generation. (It took
about three generations actually, and let's not discuss the last six
or eight).
--
Ward Griffiths <mailto:gram@cnct.com> <http://www.cnct.com/home/gram/>
WARNING: The Attorney General has determined that Alcohol, Tobacco,
and Firearms can be hazardous to your health -- and get away with it.