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Rebase the US dollar value by 10:1

Created by D.S. on September 25, 2011

The value of the dollar has fallen over the years to the point where most of the coins are too worthless to produce. As things stand, coins are just a nuisance in cash transactions, and price differences in pennies are meaningless.

An easy fix for this is to rebase the currency by 10:1, effectively "dropping a zero" from current prices. A new penny would be worth ten of today's cents. Ten of today's dollars would be worth one new dollar. Gas would be 30 cents a gallon.

There are various ways this could be done. One possibility:

* A new series of paper bills can be issued with different designs, indicating they are worth 10 of the old bills.

* We can simply revalue pennies and nickels. It would be a small economic stimulus and save costs.

Economy & Jobs
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