No more pennies will be minted

[g5000]

whhats te constitution say??

It plainly says Congress, not the Executive, has the power "To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures"

 

[g5000]

also appears the president cannot have any control because they could manipulate it for their own gains

As would Congress, which is why they delegated that power to the Fed.

Can you imagine the kind of hyperinflation we would have it dipshits like MTG had their hands on the monetary printing press?

The Fed may have its flaws, but nothing like what lunacy populists would unleash on our currency.

 

[g5000]

Yep, it’s called the executive branch. Stop talking stupid!

United States Department of the Treasury - Wikipedia

en.m.wikipedia.org

Incorrect.

The Treasury cannot print money without approval from the Fed, which in turn gets approval from Congress.

Read the Constitution. It specifically states only Congress has the power "To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;"

Stop talking stupid.

 

[egp320i]

As would Congress, which is why they delegated that power to the Fed.

Can you imagine the kind of hyperinflation we would have it dipshits like MTG had their hands on the monetary printing press?

The Fed may have its flaws, but nothing like what lunacy populists would unleash on our currency.

the founders did not want the president to be able to manipulate the money system for good reason, it could be used as a tool

 

[ozro]

When I was young, I was quite a rider. Oh I wasn't the best around, but I could hold my own. One day I was walking with my little sister, when we came across a young girl having trouble handling her horse. My sister poked me in the ribs and said" come on, you can't let her get hurt, go help that girl". So I decided the only thing to do was to teach that horse some manners. I helped the young girl down and she stood with my sister as I climbed into the saddle and firmly took the reins. Well , that horse had spirit, and I found myself in the ride of my young life. I dug in my heels, and held those reins so hard that the bit was starting to bow. Just then that horse jumped straight up in the air and when he came down, I was still in the air. I got thrown and was getting drug through the dirt. Now I'll tell you the truth, if the manager of that K-Mart hadn't come out the door and unplugged that thing right then, I would not be here today. True story.

 

[g5000]

Duh,,

Wrong.

See post 264.

 

[g5000]

I opposed this for a long time... but today's dollar is essentially a quarter from 25 years ago.

25 years ago a loaf of Walmart bread was a quarter. Today its a dollar twenty.

Wrong.

25 years ago, a pound of bread was $1.50.

Today, it's about $2.00.

 

[g5000]

Trump is not eliminating the penny, he simply will no longer produce new ones. There is a significant difference.

Most pennies are in the couch cushions, in jars, and in fuse boxes.

No one uses them. They aren't in circulation, really.

The elimination of pennies has been advocated for a long time. Now they will be collector's items, and I have a lot of them.

 

[Toddsterpatriot]

Incorrect.

The Treasury cannot print money without approval from the Fed, which in turn gets approval from Congress.

Read the Constitution. It specifically states only Congress has the power "To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;"

Stop talking stupid.

The Treasury cannot print money without approval from the Fed, which in turn gets approval from Congress.

The Fed doesn't ask Congress if they can print an extra $100 billion.

 

[g5000]

do yo think the retailer and tax man will round up or down to offset??

The tax man already does. Have you never filled out your own taxes? Or are you a tax dodger like Trump?

 

[g5000]

The Treasury cannot print money without approval from the Fed, which in turn gets approval from Congress.

The Fed doesn't ask Congress if they can print an extra $100 billion.

Gee, did you not know the Fed has to print money because Congress runs deficits?

Which has nothing to do with the fact the Treasury does have to get permission.

 

[g5000]

Melt them all down and make copper $10 Trump coins. A friend of mine gave me one of these the other day..

View attachment 1076899

Speaking of wasteful, those one ounce pure copper coins sell orders of magnitude more than they are worth.

They are for dumbass suckers who think they are a store of value for when the revolution comes and society collapses.

 

[Toddsterpatriot]

Gee, did you not know the Fed has to print money because Congress runs deficits?

Which has nothing to do with the fact the Treasury does have to get permission.

The Fed "printing money" has nothing to do with deficits.

To whom do you imagine the Fed writes the letter to ask permission?
Does Congress take a vote? Does the President sign it into law?

Explain this mechanism you've constructed.

 

[Rogue AI]

Most pennies are in the couch cushions, in jars, and in fuse boxes.

No one uses them. They aren't in circulation, really.

The elimination of pennies has been advocated for a long time. Now they will be collector's items, and I have a lot of them.

I suggest a buy back at 1.1 if there is a shortage, still cheaper than minting new.

 

[egp320i]

Most pennies are in the couch cushions, in jars, and in fuse boxes.

No one uses them. They aren't in circulation, really.

The elimination of pennies has been advocated for a long time. Now they will be collector's items, and I have a lot of them.

nah, if they have been in circulation with wear and tear they are worth face value. unless they started melting them down reducing the amount which could increase their value.
if you have brilliant uncirculated or proof those are worth much more than face value

my dad collected coins and I have as well, I have some going back to the 1873

I have a bunch of proof sets, eagle silver dollars, etc

 

[Thunk]

Btw am I the only person who is young enough to remember riding the penny horse at Kmart?

When I was around 20...K-mart had one of those horses inside between the first exit door & the 2nd exit door (they also kept the shopping carts & vending (pop) machines in that area).

I'm leaving...I walk thru the first door & see a little kid riding the horse with his mom standing right next to him...all of a sudden it bucks him off and throws him thru the air, head first into the pop machine. He then dropped about 5 feet onto his face on the floor

 

[Rogue AI]

nah, if they have been in circulation with wear and tear they are worth face value. unless they started melting them down reducing the amount which could increase their value.
if you have brilliant uncirculated or proof those are worth much more than face value

my dad collected coins and I have as well, I have some going back to the 1873

I have a bunch of proof sets, eagle silver dollars, etc

I have heard people are melting down the old copper pennies. The copper is worth more than the penny these days. With the exception of the limited rare coins that have value.

 

[Thunk]

I laughed all the way home

 

[g5000]

.

Shit ... Let's go to Single Payer Healthcare ...

.​

I am near certain that is Trump's long term goal. He's been in favor of UHC for decades, and is probably why he picked ultra-liberal RFK, Jr. for HHS.

 

[g5000]

One used to think so. Seems that is no longer the case. Many places are no longer accepting cash.

I have never heard of any such place.