Currency

Friday

Bill Kauffman

Spending the last penny

I once knew a man so cheap he would call my dad to report that he’d found a nickel on the pavement of the local racetrack’s parking lot. I don’t know if Jim would have stooped to conquer a penny as well – I wouldn’t put it past him – but I like to think he’d join me in lamenting the demise of the American cent, our humblest coin, burked by order of President Donald Trump at the urging of Elon Musk, neither of whom will ever be mistaken for a small-is-beautiful fan. The last Lincoln cent headed for general circulation was struck at the Philadelphia Mint in November last year, ending a 232-year run for my favorite coin.

Wednesday

Paul Wood

What happens when your currency collapses?

I’m a millionaire. A million in crisp, new bills is stacked up on the table in front of me. Unfortunately, it’s Lebanese lira and cost me about $75 a week ago. It’s already worth only $65, and by the time you read this, it will be worth even less. The Lebanese currency has lost more than 90 percent of its value over the past 18 months and is continuing its steady decline. It would be foolish to keep more than a few days’ spending money on hand, so everyone has a moneychanger. Mine is Mohammed, who pops round on his moped with ever-fatter stacks of notes with ever more zeros on them. The currency grows physically as it shrinks in value. He passes over a wad of cash and says, smiling: ‘Our leaders are stupid and corrupt.

currency