| Author: | Edward E. Rochon | ISBN: | 9781310237751 |
| Publisher: | Edward E. Rochon | Publication: | April 30, 2015 |
| Imprint: | Smashwords Edition | Language: | English |
| Author: | Edward E. Rochon |
| ISBN: | 9781310237751 |
| Publisher: | Edward E. Rochon |
| Publication: | April 30, 2015 |
| Imprint: | Smashwords Edition |
| Language: | English |
A short preface notes Canada cancels penny production, worries about too much money priming by the US Federal Reserve. Chapter 1 suggests that in place redenominated currency is a better way to maintain stability and finance debt than simply increasing money at the current value dollar. For 'in situ' or in place redenomination, it means that no new bills are printed for the purpose. Your piggy bank becomes worth whatever value the redenominated currency was set to. This applies to currency but not debts, it being unfair to pay a $100 debt with 100 bills worth 10 times more than before. You pay the debt with 10 redenominated bills. Chapter 2 discusses problems with redenomination, covers subjects dealt with by the author in previous essays briefly with respect to the true value of gold as money. It notes economic expansion is the best way to keep government and private needs for income in balance, more tax revenue at lower rates, which, of course, everyone already knows.
A short preface notes Canada cancels penny production, worries about too much money priming by the US Federal Reserve. Chapter 1 suggests that in place redenominated currency is a better way to maintain stability and finance debt than simply increasing money at the current value dollar. For 'in situ' or in place redenomination, it means that no new bills are printed for the purpose. Your piggy bank becomes worth whatever value the redenominated currency was set to. This applies to currency but not debts, it being unfair to pay a $100 debt with 100 bills worth 10 times more than before. You pay the debt with 10 redenominated bills. Chapter 2 discusses problems with redenomination, covers subjects dealt with by the author in previous essays briefly with respect to the true value of gold as money. It notes economic expansion is the best way to keep government and private needs for income in balance, more tax revenue at lower rates, which, of course, everyone already knows.
