Tuesday, January 17, 2012

Dollar Coin Sunk by Moronic U.S. Government

I read a few weeks ago the the U.S. Department of the Treasury is cancelling the remainder of the U.S. Presidents dollar coin series except for what they will  make for collectors. The reason was that there were over a billion of the coins that are now in storage. Well, why are these coins going into storage? I will tell you the reason is that the U.S. Government refuses to take the paper one dollar bill out of circulation and that is moronic. A typical one dollar bill survives on average about eighteen months and a dollar coin will probably survive well over forty years. Heck, I still see quarters from the sixties that look great today. The metal composition they use today holds up so much better than the silver coins made prior to 1965.
There is a big stink going on in Congress right now about saving money, cutting costs and reducing the debt. Ridding the U.S. of the dollar bill and replacing it with the coin would save the country billions over time. But a lot of ignorant people say 'we don't want the dollar coin' but look at Canada. They replaced both the one and two dollar bills with coins. They were not happy about it in the beginning but they probably could care less now. I can hear the conservatives squawking now 'Oh no, that is Canada, they are socialist and we don't want to do anything that Canada does or we will forever be down the path to socialism'. That would be a crock.
One the hindrances of going to the coin was the fact that we would need a large supply of them handy and ready to go. Right now it sounds like we are getting near that point. The government should keep making the coins, building up the supply, and then start weaning us off the dollar bill. It is just simple logic. Most vending machines are now geared to accept the coin. Quite a number of people do not even use cash anymore so the switch would not even affect them. Gradually we could possibly work in a two dollar coin into the mix. The money that would be saved by this switch is not chump change. The populace may piss and moan but over time we will get over and maybe even like it. It is moronic for the government to keep pissing away money making the paper dollar when we now have a viable alternative.
I don't want it. Canada does it. It is not convenient. I hate the dollar coins. These are the so called reasons that keep us on the paper dollar. They are moronic reasons. The government should continue to make the coins and ready us for the switchover. It makes cents!!! Well, actually billions of dollars. That is reason enough. This is your King saying "So let it be written, so let it be done"!!

No comments: