In a nod to the extremely popular President Obama, the US Treasury department has announced today that it will begin phasing out the Dollar from circulation as the main currency beginning October 2009.
To replace the dollar, a new currency "Obamars" will be launched, with a direct 1:1 conversion from the dollar.
Replacing "cents" will be "baracks". As such, 100 Baracks will be worth one Obamar.
"This is in part recognition of what the President has already achieved" said Tim Geithner, "But also we believe it is recognition of our belief that he is single handedly saving our currency anyway. So naming it after him feels right."
"Furthermore, the reputation of the dollar has collapsed across the world economy in the last 12 months. At the same time the name Obama is like solid gold. Why wouldn't we take advantage of that?"
It is believed that the 5 Obamar note will feature the face of Sasha Obama, Malia will be the face of the 10 Obamar. Michelle Obama will take the place of the 10 Obamar note, and the great man himself will feature on the 50 Obamar bill. It is believed that the front runner to be the face of the 100 Obamar note is "Bo the Dog".
