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Honored Advisor

Should money have an Expiration Date?

Can you imagine the money in your wallet will become worthless tomorrow if you don`t get rid of it today?

No, I don`t think money should expire after a due date, but some thought about it and are rethinking about it.

https://www.npr.org/sections/money/2019/08/27/754323652/the-strange-unduly-neglected-prophet

 

The problem, Gesell believed, was that money served two roles that often came into conflict: It was a way for people to store wealth, and it was the thing everybody needed to conduct business. The fact that money could store wealth meant its holders had a reason to cling to it, especially in crises like the one he saw in Argentina, when opportunities to safely put that money elsewhere looked grim. It was a typical story. When people got scared, they hoarded cash and brought business to a standstill. It led, Gesell said, to a situation of "poverty amid plenty."

Gesell wanted to create a new kind of money — a money that would "rot like potatoes" and "rust like iron" so no one would want to hoard it, a money that was "an instrument of exchange and nothing else." And the crazy part is that he did create it. Through a series of pamphlets, articles and books, Gesell inspired a worldwide movement that introduced a completely new form of money. It's one of the most fascinating, and largely forgotten, stories in economic history.

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Honored Advisor

Re: Should money have an Expiration Date?

Our fed and politicians have another  similar theory   Induced inflation.  Hyper inflation is hard to control but some inflation keeps money flowing..... Basically the fed regulates inflation by stimulating it (as we do with tax code) and when it gets out of control raising the interest rates to induce savings.  IRS, congress, administrations, all get involved and occasionally we stimulate the economy too much and get higher inflation rates and can't slow it down....

So we have our Political figures all step up to the mic and repeat the good news "we have no inflation".  While you go to the seed dealer and he tells you the truth.  Obama repeated it many many times while the price of a tractor went from $180K to 320K  ---- took about 18 months.   Apples to Apples.  same principle........ getting those who have money to let go of it would be the NPR slant.

So far we are not having to say we are spending it before it is worthless. like confederate dollars.  But that day may be coming..  Our leaders tell us how well off we are compared to other currencies in the world.  It reminds me of the ugly look I got from Dad when I liked our crops  compared to some in the area(trying to make him feel better)---- always the wrong thing to say.  Silence followed or at best "don't judge our neighbor by comparing him to us,we can do better".  And I knew he wasn't talking about the crop.

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Veteran Advisor

Re: Should money have an Expiration Date?

Get  a  $100 K  pickup  -  that will  get  rid  of  those  excess  $$$$$$   -   and  you  will  help  defer  those''  priceless''  recall costs  -  -  -

Remember  those  yield  monitors  are  a  must  -  and  if  in  doubt as  your  equipment  supplier -  or  order  a  class  8  truck  ''  kit  ''  for  @ $58,000.oo  more  than  a  full  opted  one  from  Denton  Texas  Peterbilt  plant  did  10  years  ago - - -

Maybe  an  Apple  watch  series  4  wrist  watch  -  ?       

Honored Advisor

Re: Should money have an Expiration Date?

nail on the head....... "standard of living" comes to mind....... as defined by a "cheap" congress person.

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Veteran Advisor

Re: Should money have an Expiration Date?

It  was  being  explained  that  Nebraska  received  an  8  Million  $$$  grant  for  bridge  repair , for  a  500 year  weather  event,   OR in  comparison ,  about  the  cost  of  5  -  6  Tomahawk  missiles ,  -  interesting  -  maybe - maybe  not - ?      

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Honored Advisor

Re: Should money have an Expiration Date?

Ba      currency has always expired................ when the entity that backs it dies.......... like a note at the bank.

That is why it has a "born on date"....     Smiley Happy

When we elect those who want to .................. destroy the currency ......

Congress has treated the economy like a bull in the ring.... stabbing it, bleeding it, waving red flags at it, stimulating it and infusing it to make the fun last longer, taking those "bravado" bows every election year, being sure not one individual gets gored or left out of the graft-----paying the crowd to chear with pieces of bull. All of us wanting our share. Self serving greedy,    and all of us  -----  waiting for the promised barbecue... when we will all celebrate the killing of the modern day Currency, the saving the environment and the next seasons bullring schedule that focuses on the faithful and the accounting firms in the midwest.    Arthur Anderson one of the 7 largest accounting firms in the world........ remember when that accounting firm was gored by association just doing their job...   our system of justice.

 in a "party"or a chamber we can be very irrational  possibly insane...... and we will move on to the .......Bitcoin.......????

 

 

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