President Donald Trump says he has ordered the US Mint to stop making pennies, which he correctly says cost more than one cent to produce.
“For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!” he said in a post on his Truth Social platform. “Let’s rip the waste out of our great nations budget, even if it’s a penny at a time.”
Go ahead, keep going up the line until no change is left. For those who don’t want a central bank digital currency, by agreeing to this, you’re doing their work for them. God forbid after Trump is gone they’ll eliminate paper money citing what he’s doing now. They’ll justify it by saying printing paper money is bad for the environment, or some shit like that.
ReplyDeleteBe careful what you wish for.
Yeah, they also print $100.00 bills which cost them $0.075 each. The profit is called "Seigniorage". They can afford to lose money on the damned pennies.
ReplyDeleteNo, pretty sure Seigniorage is what they call it when you bring them gold and they make it into coins, which are more valuable, but they keep some of the metal themselves.
Delete$100 bills costing $0.075 to make is fraud and/or theft, nothing to do with honest money.
John G.
The problem lies with the Federal Reserve and their systematic destruction of the purchasing power of the dollar. Unless THAT is addressed by abolition of the Fed, restoration of a sound currency backed by precious metals, or the restoration of market money with ZERO government involvement other than the prosecution of fraud. With addressing the root causes, we will all eventually be burning dollars to stay warm like they did in Weimar Germany in the 30s.
ReplyDeleteJust punch a hole in those pennies and sell them as "dry weather washers" and you'll make millions.
ReplyDeleteNope, never heard of ionic galvanizing or any such sort.
When I first heard this, I immediately thought they're preparing you for a reverse split.
ReplyDeleteThere's no historical evidence to support fiat currency. And it always . . ends up the same for the currency. A wheelbarrow full of cash for a loaf of bread. Those pterodactyls have yet to come home to roost.
Paper money isn't. It's just an IOU from the feral reserve aka the world monitary fund.
ReplyDelete