My intention? There has to be a full-colored US flag on every bank note, and there have to be faces of some of the latest idols on them. Let's stop looking backwards and focus on the future. This is the time where we live. I've chosen Steve Jobs, but why not Zuckerberg, Larry Page or Michael Jackson?
On each denomination, rather than incorporating an image of a figure who is powerful, wealthy, famous, in control etc. I have honoured the people who live modestly in professions that are imperetive to the wellfare of each and every one of us.
My idea is to bring the Dollar into the 21st century... I did not include the Federal Reserve system on the notes but rather I made them gold coin demand notes, meaning that they will actually be backed by gold. I think the reason why the Dollar is failing is mainly because it is simply being printed without discrection.
A return to the Gold Standard would revive our Currency. I did not make a one Dollar note but instead one Dollar gold coins with a certain amount of real gold in them would form the foundation of the currency.
Savings to the government in production and processing costs from substituting the more durable dollar coin for the Federal Reserve dollar note would be on the order of $150 million per year when the change is completed.
The advantages of switching to a $1 coin are obvious and substantial. According to an April 7, 2000 Government Accountability Office (GAO) report, replacing the $1 bill with a coin would save taxpayers $522.2 million per year. Most of the cost savings associated with coins comes from their comparative durability. The Bureau of Engraving and Printing produces approximately 3.4 billion $1 bills each year. Each bill costs 4.2 cents to manufacture, and has a lifespan of approximately 21 months. By comparison, the $1 coin costs slightly more to produce – 12-20 cents – but has a lifespan of around 30 years.
Other benefits include savings on processing. Coins cost 30 cents per thousand pieces to process compared to 75 cents per thousand for $1 notes. Coins are also much more difficult to counterfeit. (Source)
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