The Fed Releases New Ben Franklin $100 Bill, and $100 Saved Is $95 Lost
Apr 22nd, 2010 | By Nathaniel Darnell | Category: Lead Articles, UncategorizedHow might Benjamin Franklin feel to know that his old maxim “a penny saved is a penny earned” no longer rings true? With the value of the dollar now worth only a nickel of what it was in the 1930’s, anyone who might have stored their $100 bills in a savings account at that time watched their Franklin become a Lincoln—and that’s sad on at least two levels.
Occasionally, when I’m at a store and the cashier tells me the total for my purchase, I’ll ask her, “Do you take federal reserve notes?” Usually, the cashier will pause, stare at me, and then begin to stammer as if she is trying to think of a polite way to tell me “no.” After letting her stir a little bit, [...]
