US dollar notes to be phased out? In vaults across the country, the US government is building a stockpile of $1 coins.
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| Dollar Pile Would Reach The Space Station |
The hoard has topped $1.1bn an amount that if stacked would reach almost seven times higher than the International Space Station, and the piles have grown so large the US Federal Reserve is running out of storage space.
The reason for this is that use of the $1 coin instead of a note could save the US $700m per year ..... however this plan to replace the dollar note has met opposition .... the people, who when allowed a choice do not readily surrender the tried and trusted.
The US public just keep using the notes and ignoring the new dollar coins, but then the US is a nearly true democracy, in that the federal government can rarely just force laws on people. So unlike the Greeks, who were nearly 80% against joining the Euro currency (maybe they sensed the disaster that this would allow), but were forced without any vote to do so, so the US public keeps using dollar bills instead of the unwanted dollar coins.
There's a lesson for governments of all persuasions here ... let us vote properly on all these issues .... immigration, law and order, and any other of the issues that have been hijacked by narrow interest pressure groups, and which are causing massive discontent in the majority, whose opinions are just ignored.
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| What Is Democracy |
Democracy is meant to be the will of the majority, not the tail wagging the dog, which is what we mostly get in Europe these days.
I do happen to live in the United States, and I do have to say:
ReplyDeleteDo you suggest that the U.S. revert to a currency dependent on each state government?
Because you could use the same arguments as you are now against the Euro to back then when they unified under the dollar.
Hi, Thanks for the comment ... No, the currency is merely an example of big government versus 'democracy' .... the point I was labouring (and obviously failing) to make was that "the US is a nearly true democracy, in that the federal government can rarely just force laws on people", whereas in Europe, the EU and National governments just enact laws, regardless of public opinion.
ReplyDeleteAs I stated, "there's a lesson for governments of all persuasions here ... let us vote properly on all these issues .... immigration, law and order, and any other of the issues that have been hijacked by narrow interest pressure groups, and which are causing massive discontent in the majority, whose opinions are just ignored".
The US Govt tried to bring in metal dollar coins, for ostensibly good reasons, but didn't consult or listen. Result the coins lie in bunkers, unused and unwanted. Similarly, the UK govt has enacted laws that were unwanted, entirely for their own ideological reasons, and which because most of us didn't want them are deeply unpopular.
I am advocating more consultation and democracy, where majority views, not minority ones, prevail.