Written by craig morris

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Topics: Economy

Tuesday, 1 April 2008

image for Chuck E. Cheese Ends Dollar Peg

Pizza Time Theatre Inc., the parent company of Chuck E. Cheese restaurants has announced that Chuck E. Cheese Game Tokens (CECGT) will no longer be pegged to the dollar, but will instead be tied to a basket of currencies, including the Swiss franc, the Euro and the Japanese yen.

Up until now, each token had a nominal value of 0.25 US dollars. Elkin Perndorf, CFO of Pizza Time Theatre stated that "with the dollar losing value daily, it is in our best interest as a company to strengthen the CECGT vis a vis other currencies".

The move was greeted with enthusiasm by FOREX traders who immediately bid the grubby tokens to a recored high 0.376 US dollars.

Investment advisors at Charles Schwab recommend that those seeking a stable portfolio place up to 15% of their nest egg in Chuck E. Cheese Game Tokens as a hedge against inflation.

Unlike the dollar, the demand for the tokens is seen as continually strong and the value of the tokens consistent.

"A token buys the same number of inane video games and worthless plastic prizes as it did 20 years ago" said Perndorf. "That rock solid value is what makes the CECGT a prefered investment vehicle".

As evidence of the tokens value, Warren Buffett has invested heavily in the CECGT and shares of Berkshire Hathaway are trading at an all time high.

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