●Stories
●Firehose
●All
●Popular
●Polls
●Software
●Thought Leadership
Submit
●
Login
●or
●
Sign up
●Topics:
●Devices
●Build
●Entertainment
●Technology
●Open Source
●Science
●YRO
●Follow us:
●RSS
●Facebook
●LinkedIn
●Twitter
●
Youtube
●
Mastodon
●Bluesky
Follow Slashdot stories on Twitter
Forgot your password?
Close
This discussion has been archived.
No new comments can be posted.
Load All Comments
Full
Abbreviated
Hidden
/Sea
Score:
5
4
3
2
1
0
-1
More
Login
Forgot your password?
Close
Close
Log In/Create an Account
●
All
●
Insightful
●
Informative
●
Interesting
●
Funny
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
bygroobly ( 6155920 ) writes:
At the rate I use cash, it would take me about 10 years to end up with enough pennies for a roll to take to a bank. So, they can abolish the penny or not, I don't care, and neither should you.
bySique ( 173459 ) writes:
I usually spend all my pennies at the cashier machines. I throw all my coins into the machine before using any bills. Hence, I get the minimum of coins back as change.
byjonsmirl ( 114798 ) writes:
The US government refuses to acknowledge the inflation it creates. The dollar should be replaced with a 'new dollar' at a 10:1 ratio but the government will never do that because doing that forces them to acknowledge the inflation.
Parent
twitter
facebook
bydavidwr ( 791652 ) writes:
Lopping zeros off a currency is typically done when everyday things cost thousands or millions of times as much as they did a few years ago.
US annual inflation hasn't been over 20% a year since at least 1914, and it's rarely been over 10% (source [madisontrust.com]).
byVaccinesCauseAdults ( 7114361 ) writes:
100% increase is a doubling (2x).
Removing a zero is a factor of ten (10x).
Parent
twitter
facebook
bygroobly ( 6155920 ) writes:
He was using binary.
Parent
twitter
facebook
byrossdee ( 243626 ) writes:
100% inflation would mean prices have doubled.
To have to add a zero (10 x price) would be 900%
(Americans can't do maths, in fact they think there is only one of them (it is mathematics))
byHodr ( 219920 ) writes:
https://stats.areppim.com/stat... [areppim.com]
What an ignorant thing to say.
byAnonymous Coward writes:
(Americans can't do maths, in fact they think there is only one of them (it is mathematics))
Do you say "maths are difficult"? If not, then do you think there is only one of them?
byShanghaiBill ( 739463 ) writes:
Cumulative US inflation from 1965 to 2024 is 100%.
Cumulative inflation since 1965 is 800%.
There's no reason to revalue the dollar. I've lived in Japan and the Philippines, where the currency unit is right around the minimum that anything costs (such as a single bite of candy). It's nice because you never need to deal with decimal points, and normal people can understand numbers like a million.
Countries like Indonesia and Vietnam, where the currency unit is a hundredth or thousandth of a US cent, need to revalue.
If a shopkeeper in Indonesia tells you the price of an ice cream cone is "100", that obviously means 100,000. They drop the extra "000" when speaking.
Parent
twitter
facebook
byarglebargle_xiv ( 2212710 ) writes:
A lot of other countries around the world do this as well, and have for half a century or more, see Swedish rounding [namu.wiki]. I can't wait till the EU gets rid of their pointless piddling individual cents and whatnot, every trip there turns into an ongoing exercise in getting rid of the annoying shrapnel you build up with every transaction.
bymjwx ( 966435 ) writes:
Cumulative US inflation from 1965 to 2024 is 100%.
Cumulative inflation since 1965 is 800%.
There's no reason to revalue the dollar. I've lived in Japan and the Philippines, where the currency unit is right around the minimum that anything costs (such as a single bite of candy). It's nice because you never need to deal with decimal points, and normal people can understand numbers like a million.
Countries like Indonesia and Vietnam, where the currency unit is a hundredth or thousandth of a US cent, need to revalue.
If a shopkeeper in Indonesia tells you the price of an ice cream cone is "100", that obviously means 100,000. They drop the extra "000" when speaking.
I used to live in the Phils (over a decade ago now) and I've still got a 50 centavo coin rolling about somewhere (I've been trying to collect the most worthless coin in my travels, the 50 centavo coin is still it at 0.6 British pence (£0.0067)).
You're right that there's no reason to revalue the USD because like the GBP, EUR, et al. it's a stable currency. You only revalue your currency when the arse has fallen out of it. The USD, EUR and GBP are the currencies that other nations revalue theirs agai
bybatkiwi ( 137781 ) writes:
Australia got rid of them for hard currency, but it still exists for digital transactions.
If you pay cash it is rounded (by specific rules).
So a banana that costs $9.99 will be $10 in cash, or $9.99 if paid with tap.
● current threshold.
byzephvark ( 1812804 ) writes:
You appear to have no idea what you're talking about. The U.S. Government has a deliberately inflationary policy. No one else has ever managed to be confused about that.
Sure, cash has continuously lost value to inflation over centuries. The results can be dramatic. On the one hand, you can't get a new car for under $2,000 any more. On the other hand, you expect to be paid more than $20/week.
Your proposal for "newbucks" would instantly cut everyone's apparent income to a tenth of what it was. There would be
byserviscope_minor ( 664417 ) writes:
Cent is the subdivision of the dollar. The one cent piece is often called a penny.
byrossdee ( 243626 ) writes:
"The one cent piece is often called a penny."
It must be a hangover from when US was still a colony of the UK.
Anyway the plural of penny is pence.
And they got rid of Pence because he followed the constitution instead of the Donald.
Parent
twitter
facebook
byserviscope_minor ( 664417 ) writes:
Penny has two plurals depending on the meaning of penny.
Penny as the subdivision of pounds is pluralised to pence, penny the coin is pluralised to pennies.
I liked the not about Mike Pennies.
bythegarbz ( 1787294 ) writes:
While I'm at it, the U.S. does not have "pennies". We use "cents".
The rest of your post is on point, but really you're going to claim the USA doesn't have pennies in an article about pennies in the USA, a country where the official government Mint lists the Penny as a circulating currency? https://www.usmint.gov/coins/c... [usmint.gov]
Parent
twitter
facebook
bykaatochacha ( 651922 ) writes:
If people are so stupid that they'd riot over their income being cut to a tenth when the actual value of it is 10X, they sort of deserve to meet their end in riots.
I call them pennies, and so does the US mint https://www.usmint.gov/coins/coin-medal-programs/circulating-coins/penny
bythegarbz ( 1787294 ) writes:
The US government refuses to acknowledge the inflation it creates.
The fuck you talking about. The US government (and every economist with a brain on the planet) have as a core policy an inflation target above 0. The target is 2% +/- a bit and you can find that right on the Federal Reserve website.
The dollar should be replaced with a 'new dollar' at a 10:1 ratio but the government will never do that because doing that forces them to acknowledge the inflation.
Errr no that would be dumb. There are some legitimate reasons to redenominate a currency, but 10:1 achieves nothing. Every country which has done a redenomination that low caused an economic crisis due to the economic chaos it caused along with the cost of the activity - and to be fair most of the 1:10 redenominations were due to the fall of the soviet union. Some redenominations have been successful but they are usually in the range > 1:1000
Parent
twitter
facebook
bybuck-yar ( 164658 ) writes:
you can find that right on the Federal Reserve website.
Says it on a website, it must be true!
If the fed has a target of 2%, why are they talking about cutting rates when inflation has been roaring since covid and the stock market is at all time highs? It doesn't pass the straight face test. When people say the fed is printing money, its a figure of speech pointing to the mechanisms the fed uses that in the end hands money to people. 70% of govt spending is writing checks to individuals. Govt doesn't take in enough in taxes to pay all of its expenditures, the
byLindleyF ( 9395567 ) writes:
A 2% inflation rate is stimulative because having money be worth more now than later encourages spending over saving. It's considered low enough not to be painful to consumers.
byShanghaiBill ( 739463 ) writes:
If the fed has a target of 2%, why are they talking about cutting rates
Inflation is 2.9% and falling rapidly. A rate cut's effect has a lag, so the Fed expects inflation to be at or below 2% by the time the effects kick in.
the stock market is at all time highs?
The stock market has been climbing in anticipation of the rate cut.
bythegarbz ( 1787294 ) writes:
If the fed has a target of 2%, why are they talking about cutting rates when inflation has been roaring since covid and the stock market is at all time highs?
Because inflation and rates are not strongly correlated and have a myriad of market factors sitting between them. Under specific local conditions raising rates can bring inflation under control. The current inflation experienced in many parts of the world is nothing to do with local conditions and can't be stopped just by raising the cost of capital - especially since cost of capital isn't the source of the inflation which should be obvious to anyone who has seen a graph of inflation vs rates for the past d
byaccount_deleted ( 4530225 ) writes:
Comment removed based on user account deletion
There may be more comments in this discussion. Without JavaScript enabled, you might want to turn on Classic Discussion System in your preferences instead.
Slashdot
●
●
Submit Story
If A = B and B = C, then A = C, except where void or prohibited by law.
-- Roy Santoro
●FAQ
●Story Archive
●Hall of Fame
●Advertising
●Terms
●Privacy Statement
●About
●Feedback
●Mobile View
●Blog
Do Not Sell or Share My Personal Information
Copyright © 2026 Slashdot Media. All Rights Reserved.
×
Close
Working...
Working...