Many people want to discontinue the penny because it costs more to make than it's worth. I say that this wouldn't be the case if the Federal Reserve hadn't devalued it by 96% since 1913. What say you?
I'm not saying it does, but being able to fraction the current wealth of the US down to 1% is smart. Hell, we used to have half-cent pieces. Before 1913, inflation was not a huge issue, and the value of the dollar stayed constant with the value of gold and silver.
It's an irrelevant argument in the first place, as minting currency doesn't produce value or wealth.
Come on, guys! If we get rid of the penny, then prices will go up! If something used to cost, say, $1.27, it will be rounded up to $1.30, and overall will cost us much more. It's a ridiculous issue that doesn't need to be touched.
Fix the money!
Kill the penny. We don't use them in bases overseas because they cost too much to import. They charge the exact amount when you pay credit and round up/down when you pay cash. It works and gets rid of that annoying ass coin.
When the economy grows, people need more money. When the dollar is the reserve currency of the world, there is a need for more dollars
On a side note, the federal reserve admitted to causing the Great Depression. Google Bernanke's statement on the issue.
Or just end currency.
Get rid of them because they are annoying. Quarters should be the smallest denomination
Inflation is fine with me. I owe a lot of debt (mortgage and car loans) so more inflation is better. And my assets would probably rise along with inflation since I try not to hold too many dollars.
Agreed on that note