Scrooge vs. Euro

[Rob Klein]

Regarding Scrooge's actions vis a vis changing old currencies to Euro:
I assume all the National Banks of the Euro Nations would have to base their 
Euro printing (physical money supply)plans upon McDuck's exchange decisions. he 
probably has a very large percenatage of the old currancies in circulation 
(e.g. M1 -printed money supply).  If he chooses to turn them in all at once; 
the job of physically counting the money will take a long time.  Each nation 
might have to base their issuance of paper money on the phasing of that 
counting, and the phasing of counting of the reimbersement Euro bills that 
McDuck would surely want to start arriving as his old currency leaves his 
possession.  In other words, he would not want to wait until they count ALL of 
the money, before receiving new bills.

I assume that Scrooge would want to exchange all paper money and coins for the 
new money, as he is not in the business of losing value. As he would need bills 
to sniff at, and coins to dive into and swim in, he would want the replacements 
to start coming not too long after the first shipments of old denominations 
leaving.  This would have required the National Banks contacting him 
immediately as they made the decision to make the monetary conversion. That 
would have initiated the exchanges with McDuck, on the first day that the new 
denominations were ready for the public. That process probably would take many 
months, or a few years. The rate of the Banks providing new bills to him would 
determine how many new bills and coins would be available to the general 
public.  My own guess is that they would start such a process with McDuck, 
Glomgold and Rockerduck, long before the announcement of the exchange is made 
public (for knowledge of the bulk of the population).  Such a policy would not 
be necessary for dealing with most billionaires, large corporations or foreign 
governments, as 99% of their dealings are on paper (in computers)only.  It is 
only these three money fetishists that would have to be accommodated in this 
way. As all governments aspire to having a given (optimum)percentage of printed 
and coined money in circulation at any one time, their actions towards that 
goal would depend strongly upon the decisions of those three money-grubbing 
plutocrats as to the speed with which they want to effect the exchanges of 
their soon-to-be-valueless money. I doubt that ANY of those three would want to 
keep more than a few special bills or coins for sentimental reasons.

Rob
Klein

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