No more pennies will be minted

[Toddsterpatriot]

Wow. Your ignorance goes deep.

Google "monetizing the debt".



The Board of Governors, as the issuing authority for Federal Reserve notes, approved and submitted its calendar year (CY) 2025 print order to the U.S. Department of Treasury’s, Bureau of Engraving and Printing (BEP), on July 16, 2024.

Currency Print Orders

The Federal Reserve Board of Governors in Washington DC.

www.federalreserve.gov

The Federal Reserve Act allows the Fed to print money. It was approved by Congress and signed by President Woodrow Wilson. No Congress or President has repealed the Act.

You're welcome.

Thanks for the links that didn't support any of your claims.

 

[Missourian]

You said it to illustrate the devaluation of the dollar, but it was not an accurate or honest representation.

I said it to represent my personal experience.

That said...it IS an honest representation.

I said a loaf of Walmart bread 25 years was a quarter and today it's $1.20. Those two numbers come directly from my post.

Your numbers are 92¢ twenty years ago and $1.97 today.

Let's do math.

My numbers. 1.20 minus .25 is 95¢.

A 95¢ increase in the price of bread over 25 years

Your numbers. 1.97 minus .92 is $1.05.

A $1.05 increase in the price of bread over 20 years.

Your numbers indicate a HIGHER inflation rate than mine.

You believe you're smart. But you're so reactionary you can't make the simple fucking calculation I just made before you shoot your mouth off.

Because you're an smug idiot who is in such a rush to claim superiority that they don't take the time to realize they are completely and totally wrong.

Now sit the fuck down and shut the fuck up before you embarrass yourself further.

 

[Toddsterpatriot]

When Congress and the President pass a budget which exceeds federal revenues, they have created a deficit which must be funded through borrowing.

The Treasury then prints interest-bearing bonds and sells them. The Federal Reserve buys the bonds in an amount which influences the interest rate, often crowding out private sector buyers of the bonds. The Fed creates money to buy those bonds and that money goes into circulation.

Thus, monetizing the debt. A.k.a. "printing money". Eventually, this leads to creeping inflation and the devaluation of the dollar.

Also, during the 2008 crisis, the Federal Reserve bought trillions of dollars of toxic assets, putting even more money into circulation.

During Covid, the Fed printed more.

The Fed is supposed to sell the assets on their balance sheet eventually, and thus soak up the excess money they put into circulation. But they never get back to zero as our goddam politicians keep running up bigger and bigger deficits.

How Central Banks Monetize Government Debt

Monetization is the permanent increase in the monetary base to fund the government. Central banks buy interest-bearing debt with non-interest-bearing money.

www.investopedia.com

I already know you're ignorant, you don't have to keep proving it to me.

 

[Admiral Rockwell Tory]

Is the dealership going to accept your card for payment?

That's up to them. Why wouldn't they with my credit rating?

 

[pknopp]

I have never heard of any such place.

Link was provided.

 

[Toddsterpatriot]

That's up to them. Why wouldn't they with my credit rating?

They wouldn't take mine.
The fee they pay would be substantial on such a large purchase.

 

[Dogmaphobe]

Nope. Germany's hyperinflation ended a decade before the Nazis came to power.

What propelled the Nazis to power was war reparations.

Son, the Weimar era WAS before the Nazis assumed power.

 

[g5000]

Thanks for the links that didn't support any of your claims.

And here we see a perfect example of willful blindness, boys and girls.

You know, since you clearly know nothing about how our government works, your blind faith in what co-presidents Musk and Trump are doing demonstrates you truly are a cult.

 

[g5000]

I already know you're ignorant, you don't have to keep proving it to me.

I get it. You're too embarrassed and lacking in integrity to admit how wrong you were.

 

[Road Runner]

Oh...is THAT the reason?

Come to think of it I haven't seen any of them around for ages but I thought that it was just because nothing costs a penny anymore.

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

Nuh uh! Seriously!? I don't even remember those horses going that fast but then again I was only a little kid when they were around. Or at least at their prime.



Oh and I forgot to tag OhPleaseJustQuit because I don't think that she's seen the news yet.

 

[g5000]

Son, the Weimar era WAS before the Nazis assumed power.

Kid, your exact quote was, "The reason I ask is that the hyper-inflation during the Weimar era helped propel the Nazis to power".

That is incorrect. False.

Hyperinflation had been eliminated long before the Nazis got a foothold in Germany.

What propelled the Nazis to power was the war reparations Germany was being forced to pay the allied nations for World War 1.

In fact, the hyperinflation was caused by a misguided attempt to pay the war reparations. You are conflating the effect with the root cause.

The amount of reparations was impossible for Germany to pay, especially since Germany had been forced to cede their most productive industrial area (Alsace-Lorraine) to France.

Read Mein Kampf. Hitler goes on and on about the international Jewish bankers behind the demand for payment of reparations.

Kind of like the way White Nationalists today blame international Jew banker George Soros for the color of the sunrise.

 

[Unkotare]

I guess now it's gonna cost a nickel for your thoughts. Inflation everywhere!

 

[RetiredGySgt]

Kid, your exact quote was, "The reason I ask is that the hyper-inflation during the Weimar era helped propel the Nazis to power".

That is incorrect. False.

Hyperinflation had been eliminated long before the Nazis got a foothold in Germany.

What propelled the Nazis to power was the war reparations Germany was being forced to pay the allied nations for World War 1.

In fact, the hyperinflation was caused by a misguided attempt to pay the war reparations. You are conflating the effect with the root cause.

The amount of reparations was impossible for Germany to pay, especially since Germany had been forced to cede their most productive industrial area (Alsace-Lorraine) to France.

Read Mein Kampf. Hitler goes on and on about the international Jewish bankers behind the demand for payment of reparations.

Kind of like the way White Nationalists today blame international Jew banker George Soros for the color of the sunrise.

Soros is a democratic stooge and weasel bent on destroying the US and here you are defending him.

 

[Toddsterpatriot]

I get it. You're too embarrassed and lacking in integrity to admit how wrong you were.

I'll list your errors in detail.

 

[g5000]

I'll list your errors in detail.

Go for it.

Support your claim, "The Fed "printing money" has nothing to do with deficits."

 

[g5000]

Soros is a democratic stooge and weasel bent on destroying the US and here you are defending him.

I'm not defending Soros. I am defending the First Amendment, as did the Supreme Court in Citizens United which the Right celebrated and thumped their chests over.

As I pointed out at the time, they weren't thinking it through.

Now they clearly want a one-way street where the Koch brothers and Elon Musk and the Adelsons can buy politicians but not George Soros.

 

[Ms. Turquoise]

They will take your $3 and give you back a nickel. How hard was that?

How about pricing it to $2.95 instead?

Regarding the Super Bowl, why do you lie like that? TDS?

Pennies are STILL needed. It will be a big mistake if they take them out of circulation.

 

[Unkotare]

I would be nice to do away with the stupid "only $19.99!" crap. If it's $20.00, just call it $20.00.

 

[Thunk]

Nuh uh! Seriously!? I don't even remember those horses going that fast

Yup...it really happened. The horse was moving normally but then malfunctioned. After it threw the kid it locked up or turned off...I don't know which.

I just kept walking...no reason for me to get involved with the mom standing right there.

I even held my laughter until I was out the 2nd door

Now THAT was timing!

 

[bendog]

Indicative of how worthless the currency overall has become.

If you use a debit or credit card, you still "pay the cents." I just bought some stuff at a grocery store, and the lady in front of me handed over a 100bill, and made the exact change even by paying in coins.