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Re: OT: Dollars and Cents(was the euro & 01.01.02)

From:John Cowan <cowan@...>
Date:Monday, December 24, 2001, 17:00
wayne chevrier scripsit:

> >Well, yes. A complete revaluation of the currency would work. > >It's not that hard - just about every country in the world has > >done it; many have done it lots of times. Our current sutiation > >really doesn't warrant such a move though! > > > Well, since there has been a devaluation of about 20:1 since c1920 > revalue the dollar by 25:1, and get rid of the 1c, 5c, and 10c :)
An important reason not to devalue the dollar is that it would massively screw with the world economy. Billions of dollars of USD-denominated loans made by banks outside the U.S. exist -- so-called "eurodollars" -- and the chance that all of them would go along with dividing indebtedness by five or 25 is nil. Furthermore, some whole countries either have their currencies pegged to the dollar, or outright use it *as* their currency. Which brings up my favorite scheme: create 200 new votes in the Electoral College (for U.S. presidential elections) for the citizens of other countries. -- John Cowan Please leave your values | Check your assumptions. In fact, at the front desk. | check your assumptions at the door. --sign in Paris hotel | --Miles Vorkosigan