2
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One Method the US could Use to Revive the US Dollar's Prestige and Value

posted October 10, 2009 - 1:28am
One Method the US could Use to Revive the US Dollar's Prestige and Value

I don’t know about you, but I am getting tired of a US dollar that keeps going down in value at the clip it does because of reckless fiscal policies! The Treasury Secretary, and Federal Reserve Chairman jawbone about how much they believe in a strong dollar, but the reality is they keep letting it drop in value. Americans and foreigners alike are starting to trust the value of the dollar less and less each day. In my opinion, one simple way of bringing trust back to the currency would be to make some of the circulating currency feel like it is more valuable. In Mexico during the years 2004,2005,2006 a bimetallic silver coin was released that commemorated each of the Mexican states. It was circulated as $100 (Peso) currency and contained an inner ring that was composed of 92.5% silver. If the United States introduced a new coin of the $10 or $20 coin that was composed of a valuable metal it could instill a newfound trust in the currency. It could be a choice allowing people to still hold bills if they desired, but provide a currency that would also help revive a previously large industry in America; the silver mining industry. It’s just a thought, but maybe it could help! Having a metal to back it, would provide some level of price support at least for the circulating currency.  I have included a link to the Mexican $100 (peso) silver coin:
http://www.banxico.org.mx/sitioingles/billetesymonedas/didactico/notesManufactFeaturesHistory/currentManufactNotes/coin_100_currentManufact.html

 



Comments

Dollar Value

I agree with you, the days of the fiat currency are numbered. Unfortunately it will take the great depression number 2 to make it happen. I'd like to see silver as currency again, not worthless paper.

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