MONEY: Pennies … are no more money than the FRBie!

http://www.mises.org/story/2254

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Of course, with the continuing possibility of inflation with fiat money, we will one day find “give a nickel, take a nickel” trays, and perhaps even “give a dollar, take a dollar” trays, at the convenience store.
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Remember when pennies would buy something? I do. The joke of the penny is on us. We have allowed the gubamint to institutionalize their theft of our money. Prior to FDR’s gold grab, money was a “store of value” as we were taught in economics class. Now it’s a depreciating good that silently and transparently rots. At least you can see a sinking ship, you can’t see the gubamint “clipping coins”, like the kings and prices of old. They’ve automated the process. The dollar bill in your wallet shrinks in value 5% to 10% every year and you don’t realize it. Inflation sticks it to the savers, the old folks on fixed incomes, and the not-rich (i.e., the poor and middle class). Wonder why there’s a real estate boom? Cause they can’t print any more of it. And, when the Japanese get tired of sending us Toyotas for little green pieces of paper, when the Chinese get tired of that trade imbalance, and when the Arabs get their gold dinar, what do you think happens to all those pretty green pieces of paper? Yup, the chickens come home to roost. Read about what you can do with a Confederate dollar or the hyper inflation in post WWI Germany. It’s coming here sooner rather than later.

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