patrick.net

Actually it is proof that our leaders don’t understand real value. I don’t care if it costs more than 5 cents to produce a penny, it is worth it because it is a medium of exchange that is durable, and can’t be regulated by the government.

The discontinuation of penny production is proof that the digital gulag being built around us, where no one can buy or sell without the mark of the beast, is nearly ready to implement.

I want a president who will make pennies. I seek a candidate in 2028 who will bring back the penny.

We’re just going to have to ride out whatever storms are on the horizon. Things surely seem to be extremely fungible.

I feel sorry for cashiers.

Ppl are going to give them a hard time.

As many pennies are around, I don't see them leaving circulation anytime soon. I know when silver coins were discontinued they disappeared pretty quick, but I think this is different.

The thing about silver coins was that they became worth a lot more for their silver content than their face values because of the Fed's ongoing attack on the public.

It's already true that a copper penny and a nickel are worth more than their face values because of the Fed's abuse of everyone who holds cash, but it's a smaller amount per coin. As the Fed continues to debase the currency, pennies and nickels will also disappear from circulation.

It is absolutely inevitable that a physical penny will become worth more than a dollar because of the Fed's deliberate and continuous printing.

Patrick says

As the Fed continues to debase the currency, pennies and nickels will also disappear from circulation.

Yep, if a washer costs $5 people will drill holes in pennies.

Why this insistance on holding cash? If holding cash doesn't work in the system we have - don't hold it.

Fair question. The answer is: to protect yourself.

You work, you get paid. You want to store the beneficial result of your work for later use. But you can't do that if the Fed is constantly stealing from you for the benefit of the biggest banks.

The best solution under the current system is to hold stocks, because the stock market generally compensates for inflation. But not perfectly, and holding stock exposes you to risk of loss.

But the poor in particular are not in a position to buy stock. They are the ones hurt most by inflation. If they could save their work as silver coins by weight without getting taxed on that or paying transaction cost, they would be far better off.

Not only that, but there are strong beneficial effects to the whole country from stopping the Fed's continuous theft from the poor. It would make the country more credible and more stable. Our Fed system is an obvious scam which undermines faith in the US.

Patrick says

Fair question. The answer is: to protect yourself.

You work, you get paid. You want to store the beneficial result of your work for later use. But you can't do that if the Fed is constantly stealing from you for the benefit of the biggest banks.

The best solution under the current system is to hold stocks, because the stock market generally compensates for inflation. But not perfectly, and holding stock exposes you to risk of loss.

But the poor in particular are not in a position to buy stock. They are the ones hurt most by inflation. If they could save their work as silver coins by weight without getting taxed on that or paying transaction cost, they would be far better off.

Not only that, but there are strong beneficial effects to the whole country from stopping the Fed's continuous theft from the poor. It would make the country more credible and more stable. Our Fed system is an obvious scam which undermines faith in the US.

What prevents "zee poor" from buying silver coins at a coin shop or invsting in stonks via app on their phose (which every "poor" now has)?

As for country being "more credible" - nobody outside of the US gives a fuck about our "poor", specifically because our "poor" live like roalty compared to most of the rest of the world.

Adjusting the whole system for lowest IQ population will make us uncompetitive on the world stage and ultimately a prey to faster growing and advancing enemies. If Chyna has a giant slush fund for investing in newest tech (both development and theft of it) how can we compete with our silver coins lended at 20% and only from the actual savings of actual peasants?

Eric Holder says

What prevents "zee poor" from buying silver coins at a coin shop

Sales tax when you buy the coins (for purchases under $2K in CA) and income taxes when you sell.

Eric Holder says

how can we compete with our silver coins

Are you saying we have to steal from everyone by printing imaginary money to compete with China?

zzyzzx says

I know when silver coins were discontinued they disappeared pretty quick,

Gresham's Law in action, that's why.

If one can buy a bag of junk silver, one can buy stonks too.

The almighty dolla dolla bill is the new Penny.

.

Glock-n-Load says

We’re just going to have to ride out whatever storms are on the horizon. Things surely seem to be extremely fungible.

Patrick says

"End of the penny is proof we must end the Fed"

The penny is US currency and should be maintained. We need pennies. The claim
that copper is too expensive is nonsense.

Keeping copper pennies would prevent the Fed from continuing to destroy the dollar by printing boatloads of dollars every day.

The copper in a pre-1982 penny is worth roughly 3.2 cents, and even the zinc in the pennies after that is now worth more than one cent.

The Fed should be entirely abolished, and instead we should:

1. Use pure silver by weight alone, not "dollars".
2. Let the market set interest rates at all times.
3. Make depositors in banks either pay to store their silver without lending it out, or explicitly accept the risk of bank runs and failures in exchange for interest when the bank lends out their silver.

MolotovCocktail says

I feel sorry for cashiers.

Ppl are going to give them a hard time.

Sure. Pocahontas doesn't give two shits about the penny. She only is bashing Trump.

BUT technically she has a point:



https://www.cranepi.com/en/resource-center/news/navigating-rounding-rules-and-consumer-protection-in-post-penny-world

It's going to be a goddamn mess.

So expect ALL transactions - cashless too - to be rounded up.

Isn't there already a precedent at the gas pump? Gas is priced down to the mil, such as $2.989 per gallon. If you buy an even gallon, the price is rounded up to $2.99.

Just start making pennies again. It’s a no brainer folks. And that’s my 2 cents.

HeadSet says

Isn't there already a precedent at the gas pump? Gas is priced down to the mil, such as $2.989 per gallon. If you buy an even gallon, the price is rounded up to $2.99.

Yes. But that is true for both cash and cashless purchases.

MolotovCocktail says

Not a single state prohibits charging extra for credit card use. In fact, laws were passed prohibiting credit card companies from forbidding credit fees as a term of service.