Fri, 19 May 2006

EU to Print Its Way Out of Inflation?

The EUobserver reports that members of the European Parliament are proposing to print €1 and €2 notes to replace one and two euro coins. They argue that the public doesn't correctly value the coins, and thus, a switch to notes will curb inflation as consumers stop throwing the coins around frivolously. Yeah, that's the cause of inflation. It can't have anything to do with those responsible for actually printing (or minting) the euros or the banks that create money out of thin air.

If the EU wants to get rid of their coins, I'll be happy to exchange each €1 coin for a $1 Federal Reserve Note. Limited Time Offer. While Supplies Last.

Perhaps the US should eliminate the $1 note and make the $2 note the smallest. The latter tends to be overvalued by American consumers.

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The state is that great fiction by which everyone tries to live at the expense of everyone else. - Frederic Bastiat