Bad Money Drives Out The Good

http://edegrootinsights.blogspot.com/2011/01/bad-money-drives-out-good.html

Gresham’s law – “bad money drives out the good”, driven by the effects of currency devaluation, also know as inflation and hyperinflation, ensures that push for cashless society will grow as the existing monetary system continues to crumble.

It’s only a matter of time before denominations such as the penny and nickel are eliminated and recomposed, respectively.

The elimination of smaller denominations from circulation by market forces is a classic sign of hyperinflation.