Sep

19

A Better Currency, from anonymous

September 19, 2016 |

 In the Industrial Revolution in London many new workers came to work for pennies. The Royal Mint did not want to be bothered coining small change, but it made it difficult to pay the workers. A private mint began minting pennies and became the de facto currency to pay pennies to the workers their meager wages.

Now, $100's are almost too small to carry enough cash for traveling and business needs. I had difficulty spending 500 Euro notes as most establishments wouldn't take or break them. Credit cards and other forms of money are more common but with a large vig. Bit Coin if it becomes more popular and stable seems like a good solution. When I was in New Zealand I had to go through some gyrations to buy from private parties, or transfer money funds through banks to pay private parties. Each time I had to pay quite expensive transfer fees and commissions to transfer funds and to convert currencies.

An international currency that can be split small, or transferred in large size and move large amounts internationally would be very beneficial. Negative rates add to the vig of holding cash. There needs to be a better currency.


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