How about Andrew Jackson?
I am a traditionalist and I wouldn’t replace anyone on our currency. But I see nothing wrong with creating an entirely NEW bill with a new “forever” denomination and ON THAT BILL
I think it is perfect to celebrate any of numerous women who made our country great.
I loved our forever stamp which maintained value (the value to mail one letter) and could be used to pay for postage as it went up in price. No new replacement stamp at a higher price was needed. (Now postage is heading down for the first time in my life.)
So how about a variable currency note that is tied to one tenth of an once of something- perhaps gold or platinum or something else precious or even a fixed basket of groceries. You all get to decide what.
[newsletter_lock] It wouldn’t be exchangeable into that commodity item directly through the Treasury, such as some of our old bills formerly backed by gold or silver, but it would through its use to outright buy it.
So once a day or week or month or some other period its value would be marked to value. It would therefore be inflation hedged to some degree.
It would hypothetically always buy the same basket of goods no matter what the new price of those goods happened to be.
In other words it might be worth (or have an exchange rate to regular currency) of $150 one week. If the basket of groceries $150 bought rose to $200, then the NEW exchange rate for the bill would be $200 if converted to currency, but it would still always buy that same basket of groceries.
Everyone would want it because it maintains its buying power. There are a lot of hurdles and details that would need to be ironed out before such a bill could be issued. But I think it’s a great idea to know your money will always buy you the same basket of goods.
What better an idea could there be to celebrate women? Instead of them being worth less and less like our regular currency that buys less and less over time, the new bill would be the most in demand to protect your buying power. Like the idea? Yes? No?
Email a copy of this article by Smarterthanalbert to your local Congressman or Senator.
What are your thoughts on an inflation protected currency with a picture celebrating one of our great women in history?