Reserve currency

The U.S. Mint should cease the production of pennies due to their waste of money to make, waste of time, their uselessness, and the money that the public will save from its elimination. Firstly, let's look at the penny's waste of money, the current cost to make one penny is about 1.7 cents. This is a significant increase since a century ago, when the penny was worth what the quarter is today. In 2014, the government spent $132 million on $50 million worth of pennies. In other words, we threw…

popular limiting the use of change and even cash, pennies are an additional burden that the US does not need to be carrying. The penny has been used in the United States of America’s currency system for too many years now and it is finally time for a change. Pennies, as we all know, are extremely small increments of currency that can pay for very few things in today’s society. Many years ago, our older family members were able to buy things for small amounts of money which was one of the main…

The idea of the elimination of the penny has been an ongoing debate for the past decade. The idea first started when the cost of the creation of the penny became public. It costs more money to make a penny than a penny is actually worth. Therefore every time a penny is created the government is losing money. It has become a shock to me to find out that the simple fix to this problem is to stop the minting process of such a useless coin, but we still continue to do so. If someone were to actually…

Ever tossed a penny aside and never gave a second thought about its worth? What many Americans fail to realize is the price they pay for each discarded, unwanted penny. I believe that the penny should be eliminated from American currency because they cost too much, waste valuable work time, and have been erased in other countries with no terrible consequences. The penny is surely not worth the trouble it causes and the burdens we have to endure by keeping them. Pennies are worth one cent,…

pedigree dating back to 1787, it was feted as the first currency authorized by the United States” (Kahn, par 1). The meaning of this is that the penny was once a cool coin. What made it cool or have swagger was the fact that it was one of the first currencies authorized by the U.S. Generally, things become cool or have swagger because they are the first to be created of its type. The penny should be kept because it is cool and one of the first currencies created. According to a picture of four…

The “greenback” is a fallacy printed on a piece of paper and cloth that holds no actual monetary value. Societies created currency to serve as a medium of exchange, hoping that this one, uniform currency would hold a constant value. The truth is it’s not logical to create an infinitely printable version of a finite source; it is irrational to assign value to a piece of paper or a hunk of useless metals. Evidence lies in the past, The German mark was once so worthless due to over printing that…

AND SUMMARY It is observed that growth in globalisation implies an increase in the extent of transactions between companies in different countries. Companies trading across territories transact in various national currencies and denominate their assets and liabilities in foreign currencies (Arnold 2008). Consequently, the theory of foreign exchange risk as illustrated by Moyer et al. (2011) and Lumby (2001) posits that multinational companies are exposed to various types of foreign exchange…

dollar (specifically number of local currencies per U.S. dollar) for each country in the sample. Here I use nominal exchange rates that are available in the International Financial Statistics database of IMF, and these exchange rates data are available in the IMF website. Using these monthly IMF NER data, I calculate rate of monthly appreciation or depreciation (\%change) of local currency against U.S.…

In the book Money, Greed, and God, Jay W. Richards talks about many great concepts involved with economics and God. The four concepts I will be going over are, usury, The first concept that I will be going over is usury. Webster’s dictionary defines usury as, “the lending of money with an interest charge for its use; especially: the lending of money at exorbitant interest rates.” This concept has helped me view money in a different light due to the fact that I haven’t put a lot of thought into…

modern day computing with superconductors. That being said, gold has gone throughout human history as a reason for exploration, exploitation, and exasperation, a universal currency…