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should the US consider a currency redenomination? (lemmy.zip)

submitted 8 months ago by shortwavesurfer@lemmy.zip to c/personalfinance@lemmy.ml

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Prices of things are becoming absolutely insane. $800+ rent, $30,000 cars, $10 sub sandwiches, etc. It would be nice to do a 3/1 split and cut everything by 2/3. Then we would have $266 rent, $10,000 cars, and $3.33 sub sandwiches. Wages, debts, everything would drop to 1/3 what they are now. It would also make coins useful again since a vending machine soda would be 2 quarters again.

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[–] shortwavesurfer@lemmy.zip 0 points 8 months ago (1 children)

wouldn't the same logic apply. So for example, a euro would be $0.36? That should be easy for computers to handle

[–] DeadNinja@lemmy.world 1 points 8 months ago (1 children)

Correct, but only if you can make the European Union to agree to slash the value of 1 Euro from $1.09 as of now, to $0.36 ( what you proposed) - and then get every other currency in the world to follow suit.

Good luck with that.

[–] shortwavesurfer@lemmy.zip 0 points 8 months ago

The European Union wouldn't have anything to do with it. The market would, because the dollar would triple in value and therefore the euro would be one-third its value compared to the dollar.