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Rest in Peace
United States
9104 Posts |
I try to avoid self-serve checkouts. They're just an excuse to hire fewer cashiers, which works until the one cashier overseer is called to fix a problem, then four others go down with no one to fix them.
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Bedrock of the Community
United States
20753 Posts |
Quote:
I try to avoid self-serve checkouts. They're just an excuse to hire fewer cashiers, which works until the one cashier overseer is called to fix a problem, then four others go down with no one to fix them.
By me there is no problem with those self check outs. Most places solved any problems with them by having a checkout person (cashier) standing right there to assist people. So what is wrong with that picture? Hire less cashiers? We really need the paper dollar bills you know. One more great way for a days laugh watching someone fighting with a machine that supposed to take them and keeps spitting them out.  And they keep on trying over and over and over. |
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Pillar of the Community
United States
1903 Posts |
What I don't get is the whole "save money thing". Ya ya ya, I know a coin will last longer but, if you look at printing money as a business which would you rather? A bill you have to reprint say, 5 times in 20 years and make $.30 dollar seinioriage each time you print it ($1.50 profit) or mint a coin once and make $.50 once. Second, do you really think the Fed is going to just hand over the control of some of our currency without a fight? Profits of coin production go to the Mint which is accountable directly to our Government. Note seiniorage goes to the Fed, or in true terms, the banking industry that has technically owned our country since the Great Depression. So what the coin/note debate really boils down to is who gets the "money tax".....the Fed or the Government. And before anyone says the Fed is part of the government....do your homework......the Federal Reserve Bank is about as tied to our Government as Federal Express is.
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Pillar of the Community
United States
4132 Posts |
You only make money the first time you print a dollar bill. When you print a replacement bill for one that was retired, you don't make seigniorage.
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Pillar of the Community
United States
1903 Posts |
I am not talking an in hand tattered bill that needs to be retired...95% of printed notes are made to replace destroyed notes that don't get turned in....they simply don't exsist....seiniorage is paid on these....or as far as I understand it is. I have no statistics to back up this statement but I would think that a minority of notes that are "replaced" actually get turned back to the fed. Regardless....seiniorage or not.....I don't see the Fed wanting to lose control of this profit stream.
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Rest in Peace
United States
9104 Posts |
Quote:
if you look at printing money as a business which would you rather? A bill you have to reprint say, 5 times in 20 years and make $.30 dollar seinioriage each time you print it ($1.50 profit) or mint a coin once and make $.50 once. Your numbers are off, but more importantly, notes are debt instruments, so there is no seigniorage on them. Quote:
Second, do you really think the Fed is going to just hand over the control of some of our currency without a fight? Bingo, ditto Crane. |
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Valued Member
United States
304 Posts |
To find the meaning in anything, follow the money trail. The true intent will soon be revealed.
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Pillar of the Community
United States
1903 Posts |
My numbers weren't intended to be accurate...just comparative...but thanks for the input!
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Moderator
 United States
188440 Posts |
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I try to avoid self-serve checkouts. They're just an excuse to hire fewer cashiers, which works until the one cashier overseer is called to fix a problem, then four others go down with no one to fix them. I love them, I have never had a problem with them, and I never have to wait in line for one.  Quote:
Your numbers are off, but more importantly, notes are debt instruments, so there is no seigniorage on them. You beat me to it. |
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Pillar of the Community
United States
2271 Posts |
What's interesting is that so many billions of dollars of taxpayer money are being wasted directly and indirectly that the primary beneficiary of that waste can use what is essentially taxpayer money to advertise to continue the waste.
Time don't fly, it bounds and leaps.
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Pillar of the Community
United States
1903 Posts |
OK so notes have no seinoriage technically.....is just that the Fed is good at launduring it through Treasury Securities first....lol...either way there is a "money tax"
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Bedrock of the Community
United States
17884 Posts |
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..95% of printed notes are made to replace destroyed notes that don't get turned in Actually most of the retired notes ARE turned in and those are the ones being replaced. So over those 20 years it isn't a $1.50 profit, it's a cost of $1.50 to keep that $1 in circulation. |
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Valued Member
United States
172 Posts |
George is also on the Quarter. Dollar bills are a waste.
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Pillar of the Community
United States
3294 Posts |
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Harkin says in the video that getting rid of paper dollars would mean that fewer trees would be cut down in the service of the dollar, and that coins would be recyclable when their lifecycle of 30 years finally ends. The paper in dollar bills is a combination of cotton and linen, so I would guess that switching would not save a single tree. Actually, it would probably cost more trees seeing as how a lot of the coins would get rolled into paper tubes. |
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Pillar of the Community
United States
4901 Posts |
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Actually, it would probably cost more trees seeing as how a lot of the coins would get rolled into paper tubes. ...and the notes are sent to the banks in paper wrappers. In reality the Gov't is more interested in saving money than trees. Quote:
The Government Accountability Office, which issued a report on the cost-savings of a currency switch earlier this year, said that because coins outlast paper currency (which survive about 42 months), the switch would save about $5.6 billion over 30 years. Full article from 6 months ago with video: http://abcnews.go.com/blogs/busines...5-6-billion/ |
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Posted 03/27/2012 08:31 am
