A Penny for Your Thoughts, and 1.4 Cents for the Penny

http://www.nytimes.com/2006/04/22/business/22charts.html



WHAT happens if a penny is worth more than 1 cent?

That is an issue the United States Mint could soon face if the price of metals keeps rising. Already it costs the mint well more than a cent to make a penny.

This week the cost of the metals in a penny rose above 0.8 cents, more than twice the value of last fall. Because the government spends at least another six-tenths of a cent — above and beyond the cost of the metal — to make each penny, it will lose nearly half a cent on each new one it mints.

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Our society is advanced enough that we do not need currency. Get rid of it before it costs us big time!

i still use cash for most transactions. i have a checking account, i write maybe 6 checks a month for bills. no credit cards.

though i could live without the penny.

I care not to make it any easier to track each and every purchase I make, whether for marketing or more insidious purposes.

US Dollars are based on the Fed Reserve, but it's not always been that way.

The Federal Reserve Note that is our current guarantor of funds for US Dollars is an intangible asset. It's predecessor, the Silver Certificate, used our silver stockpile to guarantee the value of the Dollar.

I've always felt that the risks are high under the current system for a cunning enemy to undermine the integrity of the Federal Reserve.

Little did I know that the cunning interloper would be a wealthy American that would use lies and deceit to coerce the tender souls of our most entrenched regions under the guise of religion.

On the bright side, my penny collection is about to become much more valuable!

NY Times - A Penny for Your Thoughts