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Are they Ramping up a Penny Demonetization Again?

Discussion in 'PM's - Coins - Numis - Base Metals' started by MIavatar, Mar 20, 2017.



  1. MIavatar

    MIavatar Seeker

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    I heard on NPR the other day that "they are" ceasing production of the penny in April? Prolly not correct. Yet when is it gonna happen?

    http://www.npr.org/2015/11/26/457397908/critics-wonder-whether-pennies-make-sense-anymore
    http://www.moneycrashers.com/get-rid-penny-reasons/

    https://en.wikipedia.org/wiki/Penny_debate_in_the_United_States

    I like the copper zinc combo to make Voltaic piles.
    https://en.wikipedia.org/wiki/Penny_battery
    So I just ordered 8 box's. Plus I'm doing my floors in the zinc clads.
     
  2. ErrosionOfAccord

    ErrosionOfAccord #1 Global Warmer Gold Chaser Site Supporter ++

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    Enzi is the typical RINO but the state of WY loves him because none of them pay attention.

    U.S. Senators Enzi & McCain Shaking Up US Currency

    3/30/2017



    [​IMG]
    U.S. Senators Enzi & McCain reintroduce the Coins Act

    Washington, D.C. – U.S. Senators Mike Enzi, R-Wyo., and John McCain, R-Ariz., today reintroduced the Currency Optimization, Innovation, and National Savings Act of 2017 (COINS Act), legislation that would modernize the US currency by moving to a $1 dollar coin, reduce the cost of nickel production and suspend the minting of the penny, which currently costs more than one cent to produce. These money-saving reforms, which have been studied and supported by the non-partisan Government Accountability Office, could generate up to $16 billion in taxpayer savings.

    “Change can be hard sometimes, but switching to a dollar coin could save our country...

    ... $150 million a year,” said Senator Enzi. “Our country is in a difficult financial position because we didn’t value the cost of the dollars we spent. We can’t afford to keep that up, and these innovative opportunities are a way to save taxpayer money that is really just being wasted with each new dollar we print and penny we mint.”

    “With our country facing $20 trillion in debt, Congress must act to protect the American taxpayer,” said Senator

    McCain.
    “By reforming and modernizing America’s outdated currency system, this commonsense bill would bring about billions in savings without raising taxes.”





    http://www.wyomingstatenews.us/wyoming/us-senators-enzi-mccain-shaking-up-us-currency
     
  3. Uglytruth

    Uglytruth Gold Member Gold Chaser

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    " "COULD" save our country" The same asshats that put us in this position are now going save us with $1 coin. Ya going to make it out of gold or silver? If not STFU bitches and banksterside yourselves.
     
    Last edited: Mar 30, 2017
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  4. Joe King

    Joe King Gold Member Gold Chaser

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    No matter what they do, it won't constitute any savings for the taxpayer. What'll happen is they'll simply find some other use for the money. The tax payer won't see any difference.
     
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  5. latemetal

    latemetal Platinum Bling Platinum Bling

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    Control inflation first, or you are just wasting time...
     
  6. Joe King

    Joe King Gold Member Gold Chaser

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    Can't do that without revamping the whole enchilada. Which I'd be ok with, but under the current monetary system inflation has been baked into the cake since it's inception. Ie: it's one of it's main ingredients.
    ...but hey, leeches gotta leech right?



    Prior to the creation of the Fed, it was sold to the People and their Reps that Uncle Sam needed an elastic currency.

    Political cartoon from 1908. Panic of '07 was still fresh in everyones minds.

    1908_editorial_cartoon_promoting_elastic_currency.jpg

    ...but this is really a piss poor cartoon. The problem is that elastic means it goes both ways. Ie: it stretches when needed, but then shrinks back to where it had been.
    .,..but the ones running it never want it to go back to what it was, only expand further. I suppose whoever drew the cartoon was dumb enough to think that once Uncle Sam bends over to pick up the crops, he's supposed to just stay bent over?

    That, or they were selling the idea that it would inflate and deflate relatively equally, thereby leaving the purchasing power of the peoples money relatively unchanged over time. If they been honest and come out and said they wanted a monetary system with a virtually permanent rate of inflation that would erode away the purchasing power of our money, no one would have went for it.
    Edited to add: well, no one other than the leeches of course.
     
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  7. Eyebone

    Eyebone Midas Member Midas Member

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    The road to hell.
     
  8. Uglytruth

    Uglytruth Gold Member Gold Chaser

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    Yea, but they never had any "good intentions"!
     
  9. solarion

    solarion Gold Member Gold Chaser Site Supporter

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    Well someone is being bent over in our current currency system...that's fo sho.
     
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  10. Mujahideen

    Mujahideen Black Member Midas Member

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    Is anyone asking the question of why does it cost more than one cent to produce a penny?
     
  11. Joe King

    Joe King Gold Member Gold Chaser

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    That's just part of the price of inflation. If you're trying to maintain a particular price point, at some point, it always becomes too expensive to keep doing things the way it used to be done. Ie: it ends up costing more than it's worth. Doesn't matter if it's pennies or TV's or cars. If it keeps going, at some point it'll be Nickels. Then at some point, dimes and quarters.
     
  12. Mujahideen

    Mujahideen Black Member Midas Member

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    Price inflation is caused by currency inflation.

    The elastic currency robs everyone who holds it.
     
  13. the_shootist

    the_shootist The war is here on our doorstep! Midas Member Site Supporter ++

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    If McCain is for it I'm against it!
     
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  14. southfork

    southfork Mother Lode Found Mother Lode

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    How about saving hundreds of billions and ending all foreign aid, and cut funds to illegals, shits getting so old we need another tea party
     
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  15. glockngold

    glockngold Gold Member Gold Chaser

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    Should we bring back the half cent?!

    Pennies are a stupid waste of time, energy & resources.
    Stop making them yesterday.
    The dollar coin is a fine idea that didn't work because Washington didn't have the guts to simultaneously drop the dollar bill.
    The size should have been a little bigger so as not to be confused with a quarter.
     
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  16. Mujahideen

    Mujahideen Black Member Midas Member

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    The copper 82 or prior cent and the nickel are the closest things that we have to real money as currency.

    We need to stop debasing the currency.
     
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  17. latemetal

    latemetal Platinum Bling Platinum Bling

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    Or some how do a currency reset so that a dime can buy a candy bar again...
     
  18. glockngold

    glockngold Gold Member Gold Chaser

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    Sure, I get that. But it is like libertarians arguing over whether we should have public funded roads or all private turnpikes.
    We are where we are.
    Too late. Currency is debased. Pennies are jack shite.

    And latemetal, that is a nickle candy bar not a dime. You must still be a puppy.
     
  19. latemetal

    latemetal Platinum Bling Platinum Bling

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    A good five cent cigar, a shave and a haircut, two bits...man this crowd is old(;-}
     
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  20. southfork

    southfork Mother Lode Found Mother Lode

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    For sure, have a few gallons of them salted away.
     
  21. SongSungAU

    SongSungAU Midas Member Midas Member

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    Quoted for truth. That guy needs to retire while he still can. His butt has grown roots in Washington DC. Time for him to go (a long time ago).
     
  22. Howdy

    Howdy Silver Member Silver Miner

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    It goes without saying, McCain will never mention the obvious solution.
     
  23. Joe King

    Joe King Gold Member Gold Chaser

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    All that will do is make me want more $2 bills. If I can't have one's, two's will work. Last thing I want is a pocket full of dollar coins.
     
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  24. hernancortes

    hernancortes Gold Member Gold Chaser

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    The public has rejected every dollar coin since the Ike dollar, so yes let's try again. lol
     
  25. Buck

    Buck Fabian Society Gold Chaser

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    One dollar coins are made by the Treasury, the country wins when we use coins and as long as the paper dollar exists, the dollar coins will take a back seat and each paper note is an IOU to the Fed Reserve

    It was, at one time, the implementation of paper notes that replaced the "hassle" of carrying coins and most won't go "back" until they have to

    Removal of the cent will be a terrible decision
     

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