So, Canada decided today to remove the penny from circulation... http://www.bloomberg.com/news/2012-03-29/canada-e…
Should the U.S. do the same? What would some non-obvious effects be?
I was reading an interesting article in Barron's about how removing the penny here would not only impact Main Street, but also widen bid/ask spreads in trading. Thoughts?
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The elimination of the penny would only take place on cash transactions. Anything done through debit/credit cards, cheques, stock quotes, etc. would still have normal decimalization and treatment.
I named my penis Penny
It all makes sense now; they've stopped using the penny due to lack of use.
Zing!
Btw...that has to be one the dumbest articles I've read in a while.
this
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