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Im sure this has been thought of before but..

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  • 16-06-2009 7:26pm
    #1
    who what when
    Registered Users Posts: 822 ✭✭✭


    has anyone ever considered the idea of adding a zero to every monetry transaction within this country.
    In other words add a zero to every bill, goods and services, hotels everything. But also add a zero to your pay packet.
    What difference would this make within the country?, very little.
    It would effect things like exports, smuggling, more foreign labour etc but nothing major and certainly nothing that couldnt be countered!

    Now the benfit would be when traveling abroad everything would be 10 times cheaper than currently. Holidays would be unbelievable value.

    Ok so tell me why this can never happen


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    #2
    Sea Sharp
    Registered Users Posts: 2,593 ✭✭✭Sea Sharp


    That is 1000% inflation.

    Nobody would come here to spend money.

    In a way, US & UK may have added another zero to the cost of everything by quantitative Easing.


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    #3
    Liam Byrne
    Closed Accounts Posts: 18,163 ✭✭✭✭Liam Byrne


    When the two Brain(deads) indicated a 10% reduction in standard of living, I remember thinking that we should REDUCE everything by 10%, across the board, making

    a) reducing all costs, so therefore no actual impact
    b) making home-produced stuff more competitive
    c) increasing the appeal of Irish exports and holidays

    Yes, we'd feel the pinch on imports, but at least we wouldn't be as likely to end up unemployed or squeezed to the bone.....so we'd get by....

    Unfortunately, it'd need to be 100% across the board in order to work; electricity, petrol (and while this is an import the 10c that the Govt added to it would cover it) services, food, insurance, products, etc.


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