PLEASE NOTE:

MyNews24 is a user-generated section of News24.com. The stories here come from users.

 
Freddie Jones
 
Comments: 0
Article views: 4246
 
 
Latest Badges:

 
View all Freddie Jones's badges.
 

Keep The R10 Note

03 January 2018, 14:27

Robert J Traydon's call for a R 10 coin cannot be presented without comment from a different perspective.


Like Mr Traydon, I have travelled to many countries and handled many currencies. Wherever I have been, coins are spent with less respect or concern than paper notes or bills.


The case to avoid a R 10 coin is made by Mr Traydon in his article when he says that they will be spent or given away with little thought!


This causes the debasement of a currency, in turn, the devaluation of it and in its turn, this increases inflation.


In the USA the mighty US Dollar is still available as a $1 bill, while in neighbouring Canada they issued a $1 coin, and suffered inflation.


In the UK in 1971, with the introduction of a botched version of decimal currency, with the 'New Penny' being too high a value, it aggravated inflation.


With the introduction of the Euro, the countries with the very low value denominated currencies, Italy, Spain & Greece, suffered most from the effects of having high-value coins.


If the currency is debased and devalued in this way, the recipients of Mr Traydon's charity boxes and tips will no better of, as they will receive no more goods for their debased coins.


The introduction of the R 10 rand coin should be resisted by all those with authority to do so.

Disclaimer: All articles and letters published on MyNews24 have been independently written by members of News24's community. The views of users published on News24 are therefore their own and do not necessarily represent the views of News24. News24 editors also reserve the right to edit or delete any and all comments received.

 

Read more from our Users

Submitted by
Malekutu Maffa
Knowledge isn't free, you must pu...

Seeing someone pursuing knowledge is a new form of pride according to ignorant people. It makes them talk and comment on things they don’t know about.  Read more...

0 comments 575 views
Submitted by
Honeybadger
Freedom of speech is an act of to...

If you remove freedom of speech or the virtue of tolerance from any given subject, field or discipline you pave the way for it to be removed across all subjects. Read more...

0 comments 437 views
Submitted by
Martin Warburg
Cyril in Wonderland

It would be unwise to pin any hopes on the much talked up Jobs Summit. If the prospects generated could match the hot air that resulted, it might have been different!  Read more...

0 comments 1171 views
Submitted by
Johan Malan
Understanding the riots and looti...

When people really have nothing, they have nothing to lose. To someone in this situation the suggestion to demonstrate, riot and loot would most probably look quite acceptable. Read more...

0 comments 841 views
Submitted by
John Davenport
The Republicans' unintended ad ca...

For women watching this coverage, the message pounded home again and again and again is simple: the Republican party doesn’t take women seriously. Read more...

0 comments 2136 views
Submitted by
Mxolisi Mchunu
Rising fuel prices should induce ...

For far too long black communities have had to endure unabated social, spatial, and economic exclusion as a result of morally repulsive spatial planning policies of the apartheid government. Read more...

0 comments 1294 views
 

services

Press Code We subscribe to the Press Code.

E-mail Newsletters You choose what you want

News24 on Android Get the latest from News24 on your Android device.

SMS Alerts Get breaking news stories via SMS.

 
Interactive Advertising Bureau
 
© 2018 24.com. All rights reserved.
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.