I read a great article over the weekend at Mises.org which proposed an idea to shed light on the state of money in this country. The author, Briggs Armstrong, cleverly decided to pay for products at stores with $2 bills.
Here is a portion of the the article:
The true point of this experiment is to encourage people to educate themselves about our current inflationist monetary policy. My hope is that my readers will begin to request two-dollar bills from their banks and direct people to this article. There is no need to brow beat a captive audience with economic mumbo jumbo, just say, “Google ‘why pay with two-dollar bills.'” If they are curious enough, it will lead them to use the wonderful resources available at Mises.org to shake off the heavy chains of complacency that facilitate this stealthy crime.
I have decided to follow Mr. Armstrong’s lead and try out the same experiment in Colorado. My first action was calling my bank and seeing if they had any $2 bills, and they did! I went down and cashed a check that I had left over from my birthday and received my $2 bills ($34 worth).
I was surprised that I didn’t get the same reaction that Armstrong got from his bank, which was asking why he wanted this currency. Instead they told me that they do get requests for the bill, probably because people often hoard the bill despite the fact that it is no more valuable than two $1 bills.
I will keep you updated on this adventure as I start paying with $2 bills. In the meantime I encourage you to try this experiment and call attention to the monetary policy in this country and the issue of inflation.Published in