Quantcast

Expiration Date on Currency??? Should there be an expiration date placed on the hundred dollar bill to keep people from hoarding it? Perhaps placing an expiration date on currency could help ailing economies? What is your take on this idea?

ᴋᴇᴚᴎᴈᴦ♠♠Las Vegas 2008/10/14 03:02:32
You!
Add Photos & Videos
Add a comment above

Sort By
  • Most Raves
  • Least Raves
  • Oldest
  • Newest
Opinions

  • Jed Mitchener 2014/01/18 10:54:09
    Yes
    Jed Mitchener
    If this idea were to be combined with a Basic Income Guarantee (BIG), then quite literally most of the worlds economic problems could be solved over time. I've never really understood why, if money is truly "fiat", meaning it exists because we agree that it exists, then why in the hell would we not want to supply it in an abundance, using it to solve the worlds problems, rather than limit it's supply, which causes so many economic problems. Problems that actually only exist because of the limited supply. The masterminds behind our economy were actually morons, it seems. And the current leadership is apparently not that much better. But rest assured, this will eventually happen, because it is highly ethical, and it is a spiritual maxim that our society will evolve to a state of higher ethical standard.
  • jlambert 2013/06/29 02:32:55
    Yes
    jlambert
    an economy is a living organism. the flow of money is the flow of the blood...the zillions of dollars squirreled away in corporate and personal accounts and not flowing causes the economy to be lifeless...make all money have an expiration date...spend it or lose it and the economy would boom like you have never seen it!!!!
  • cxhavok 2012/10/17 04:08:02
    Yes
    cxhavok
    You guys need to stop being so selfish and listen for once. If you put an expiration date on money than the over production of money wouldn't be needed, the economy would strengthen and it would pull us out of debt quickly. Put your materialistic personalities aside and look at the big picture.
  • jhorita 2011/11/11 21:40:36 (edited)
    Yes
    jhorita
    I don't think a system would be very feasible. A more implementable system would be a tax on stagnant money. E.g. if you have a million dollars in your account, and you don't spend a certain percentage in a period, you get taxed a certain amount.

    EDIT: Whoops. I didn't mean to click "Yes".
  • info2basha 2011/02/08 14:51:22
    Yes
    info2basha
    This is the Best way of Eliminating Black & Fake Money. But there are so many obligations of printing and exchanging money when the money got expired.
  • greenwoodtree 2008/10/15 04:28:43
    No
    greenwoodtree
    I think that this will happen sooner or later. That way the govt will know exactly how much money everyone has. An idea right out of a dictator's handbook.
  • ᴋᴇᴚᴎᴈᴦ♠... greenwo... 2008/10/15 05:03:20
    ᴋᴇᴚᴎᴈᴦ♠♠Las Vegas
    No no no, some of you are missing the point here. Now, again, If say you had 1000 dollars in your hand, a withdrwal from your banking institution, you would have say a year to do something with it, a deposit into an IRA for instance, no problem, deposited and let it rollover until end of time. This would make people do something with their money within a timeframe, this would prevent people from putting the money in a safe in their house for years and years, when it should be in a bank where it is safer, most say thus promoting our economy. Or a year to go out and buy something for yourself, or transfer it to another account. The transfer of money is key, and this was an idea I had to keep the money liquid, and not clogged up somewhere. The government would not have total control over money. This would be dictated through our doings, not the governments... just an idea.
  • greenwo... ᴋᴇᴚᴎᴈᴦ♠... 2008/10/15 05:12:04
    greenwoodtree
    Do you honestly want the govt to tell you when you MUST spend your money? I see what you are saying about keeping money in circulation, but the idea of telling you what to do with what you have earned is, IMHO, a major intrusion into our lives and an assault on our freedom. As I said elsewhere, though, this is coming, like it or not. All they have to do is change the color of the bills and give a deadline for honoring the old ones.
  • jhorita greenwo... 2011/11/11 21:53:42
    jhorita
    +2
    The government should either encourage money to be spent, or detract money from being stagnant. This can be applied to everybody, but it would really only affect the upper class since they are the ones who usually hoard money. You see it as an assault on our freedom, but that freedom is an illusion. You're only looking at immediate freedoms; freedom in the end result is what is important though. Everybody is so caught up in the prisoner's dilemma, that we are all worse off as as a society.
  • Jed Mit... ᴋᴇᴚᴎᴈᴦ♠... 2014/01/18 10:59:31
    Jed Mitchener
    +3
    I recently came up with this same idea, and I've been thinking about several of the problems that would need to be addressed in such a system. Many of them have been mentioned by those here who voted "No", but I suspect when all of the problems are solved...and they will be, because it's just a tool that we use, and we can design it however we like...when all of the issues have been addressed and solved, this kind of a suggestion would and should receive unanimous support. I like the way you think!
  • Jed Mit... greenwo... 2014/01/19 03:44:18
    Jed Mitchener
    +1
    Correct me if i'm wrong, but doesn't the government already know exactly how much money everyone has? Isn't that why we file taxes once a year, so that the government can keep track of our money? This notion that it is somehow "bad" or "undesirable" for a bank, a company, or a government to know how much money we have is illusory at best, counterproductive at worst.
  • Tarryn 2008/10/14 06:29:40
    No
    Tarryn
    +1
    HELL NO!!!!!!!! that would be really awfull!!!!!! omg that would really suck!!! alot of people prefer to save money at home so that banks cant get a profit from it so that would be really sad!!! and what about kids saving pocket money?? " sorry jimmy you cant get that bike you wanted your money is dead"!!!!!!!!!!!!
  • scarletsiren 2008/10/14 03:30:25 (edited)
    No
    scarletsiren
    +1
    I'm sorry, but that's the dumbest thing I've ever heard.

    If only one hundred dollar bills had expiration dates on them, what's to stop anyone from going and changing them into smaller bills? And who, really, do you know that hoards large amounts of bills (enough to affect the national economy) in cash, rather than banking them? How would banks operate on bills with several different expiration dates--would they still be effective on a bank account balance? And what if you were saving for something, say, a house? Or a car? You'd have a deadline of when to come up with enough money, and if you didn't meet that deadline, you would be screwed. And what happens when you spend your almost expired money? Does the person who comes into ownership of these almost expired bills only get a couple of days to spend them? Then what, they are just out of circulation?
  • ᴋᴇᴚᴎᴈᴦ♠... scarlet... 2008/10/14 03:58:25
    ᴋᴇᴚᴎᴈᴦ♠♠Las Vegas
    +1
    The idea is just that, keep the transfer of money flowing from one hand to another. You can worry about the details... Perhaps there would be initiatives for those whom re-invest into the country, and not send money to mexico etc., it's ideas that make things change for the better, instead of being critical about someone's idea, howbout you add to it, or modify it, make it better if you actually have the capacity to... I would like to hear your ideas about the economy too.
  • ᴋᴇᴚᴎᴈᴦ♠... scarlet... 2008/10/20 07:56:19
    ᴋᴇᴚᴎᴈᴦ♠♠Las Vegas
    Man, I tell you, please do not reply to my postings anymore. You are wasting my time by making foolish remarks and not attempting to offer any better solutions for any of your replies, who do you think you are anyways? 1987 called, Mrs. Jackson wants her ear rings back that you jacked from her. What a distasteful picture of yourself. Why did you think you had the capacity to join SodaHead? You must have thought that this was some sort of Dating service for those kicked to the curb. Heheh. Go back to your Adult Friend Finder and pay the Premium, haha, and goodluck on finding a man who likes your types. You will have nothing but failure finding a man who will put up with you and your ways girlfriend, better call shaniqua and walk the mall again for another date. hahah. The idea is plain and simple and we dont need your types out there asking stupid questions please. You either offer a better solution so we can solve problems that our government cannot, or you go find another server to waste space on. Simple as that.
  • braindead ᴋᴇᴚᴎᴈᴦ♠... 2008/10/20 10:44:06
    braindead
    +1
    This is what she wanted me to post to you:



    "Wow. What an attack. I don't even know what to say to half of that. Did you have an awful day or something?

    I replied to this 6 days ago, read your response, and simply didn't have anything else to say. No, I don't think putting an expiration date on currencies is a good idea--isn't that an opinion? Didn't you ask for an opinion? Did I not support my response with evidence and relevant information? My response was more detailed than most of your responders, but I'm the only one who deserved such a vicious personal attack (that had absolutely nothing to do with the question at hand)? I'm sorry you feel the way you do because I can't "offer a better solution." I wasn't aware that was what you wanted, I was under the impression that this was a poll. If that's what you'd like, let's chat about it, there's no reason to be so cruel and angry. I hope you feel better tomorrow."



    I want to say in Scarlet's defense that she's a better person than you could ever hope to be and has better ideas than you will ever hope to have, even at her age. You ought to be ashamed of your behavior, and it's people like YOU that need to get off of sodahead. She's probably too nice to say anything like this to your face and probably hopes you unblock her but I told her tha...'''
    This is what she wanted me to post to you:



    "Wow. What an attack. I don't even know what to say to half of that. Did you have an awful day or something?

    I replied to this 6 days ago, read your response, and simply didn't have anything else to say. No, I don't think putting an expiration date on currencies is a good idea--isn't that an opinion? Didn't you ask for an opinion? Did I not support my response with evidence and relevant information? My response was more detailed than most of your responders, but I'm the only one who deserved such a vicious personal attack (that had absolutely nothing to do with the question at hand)? I'm sorry you feel the way you do because I can't "offer a better solution." I wasn't aware that was what you wanted, I was under the impression that this was a poll. If that's what you'd like, let's chat about it, there's no reason to be so cruel and angry. I hope you feel better tomorrow."



    I want to say in Scarlet's defense that she's a better person than you could ever hope to be and has better ideas than you will ever hope to have, even at her age. You ought to be ashamed of your behavior, and it's people like YOU that need to get off of sodahead. She's probably too nice to say anything like this to your face and probably hopes you unblock her but I told her that she's better off without your nasty attitude anyhow. You're a plague, and I hope you have a miserable little life thinking that you're somehow better than anything that disagrees with your terrible ideas.
    (more)
  • ᴋᴇᴚᴎᴈᴦ♠... braindead 2008/10/23 06:27:23
    ᴋᴇᴚᴎᴈᴦ♠♠Las Vegas
    No, I dont attack unless I am deliberately attacked first of all, secondly I want to see what others had to offer on this question of mine. Simple as that, I didnt ask to be called names and referred to as dumb. I am blocking you too, because you do not deserve anymore of my time, and I do not feel like wasting any more time with you, better for both of us. Go listen to the song "Paper Airplanes". Goodbye...
  • ᴋᴇᴚᴎᴈᴦ♠... scarlet... 2008/10/20 08:29:11
    ᴋᴇᴚᴎᴈᴦ♠♠Las Vegas
    Just because one of my lamer ideas is better than any of yours combined, you dont have to be upset, you can always do something else mind you.
  • Jed Mit... scarlet... 2014/01/18 10:41:43
    Jed Mitchener
    +3
    You've raised several interesting issues, but I'm afraid with a little bit of time and creativity each of them can be addressed. The benefits of this system far outweigh the drawbacks. It will happen, eventually. Best to be prepared and embrace the change, imho.
  • no Kidding 2008/10/14 03:09:07 (edited)
    No
    no Kidding
    +1
    No Way. Once it expired you will have opened yourself up to the government devaluing you currency, or simply taking it from you.
  • ᴋᴇᴚᴎᴈᴦ♠♠Las Vegas 2008/10/14 03:07:45
    Maybe
    ᴋᴇᴚᴎᴈᴦ♠♠Las Vegas
    Maybe this would keep the money flowing through our economic system instead of getting clogged up in some one's hands... I say give the hundred dollar bill a one year expiration date for a certain amount of time, to get the money flowing again. Maybe this will force people to either invest the money back into America, put it into a retirement account, spend the money and create a stimulus... hmmm. D.Barnack.
  • no Kidding ᴋᴇᴚᴎᴈᴦ♠... 2008/10/14 03:10:19
    no Kidding
    Do we really want the government telling us when to invest?
  • ᴋᴇᴚᴎᴈᴦ♠... no Kidding 2008/10/14 03:27:08
    ᴋᴇᴚᴎᴈᴦ♠♠Las Vegas
    It's just an idea, I think the reason why we have so many problems with our money is because we are misunderstanding our economy and how it is affected by transfer. Just like The Joker and his pile of money, up in smoke, does that help us? No.
  • greenwo... ᴋᴇᴚᴎᴈᴦ♠... 2008/10/15 04:31:59
    greenwoodtree
    Hoarding money -- that used to be called saving. If someone wants to save cash for any reason and they have earned it honestly, they should be able to save it for 50 years if they want.
  • Jed Mit... greenwo... 2014/01/19 03:34:16
    Jed Mitchener
    +3
    There is absolutely no reason why we couldn't control the expiration date as a means of regulating the economy. Whenever a dollar is "used", the date could / should be "reset", because it will have changed hands from an old user to a new user. And it would be very, very easy to only affect expiration dates on newly issued money, so existing expiry dates would all effectively be "grandfathered". For every "challenge" you raise, there are multiple potential solutions / designs.
  • Laugh Lines = L. L. L. 2008/10/14 03:06:09
    Undecided
    Laugh Lines = L. L. L.
    +1
    I'll have to think about that one...... They would hoard 20s and 50s then.
  • Jed Mit... Laugh L... 2014/01/19 03:38:42
    Jed Mitchener
    +3
    Existing paper currency would have to be exchanged at the bank for the new "virtual" currency. Eventually, the paper currency would deflate to zero value -- or perhaps it would have some "collector's" value...who knows. Using modern computer technology, it would not be impossible to implement a system with the necessary controls and features to make this work.

See Votes by State

The map above displays the winning answer by region.

News & Politics

2014/09/01 11:21:55

Hot Questions on SodaHead
More Hot Questions

More Community More Originals