by RUSS ROBERTS on NOVEMBER 17, 2010
in MONETARY POLICY
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The penny is almost irrelevant already.
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Doesn’t any one feel a sense of outrage? The reason the penny is a seen as burden is that the FED has stolen 97% of the value of a “dollar”. That’s wealth that has been stolen from “We, The Sheeple” as sure as it the Prez, any Prez of either of the supposed political parties, had taken a gun and robbed you in the street. The fact, that it’s done sight unseen by the magic of paper, doesn’t make it any less of a robbery. We just don’t see the masked men. But everyone’s attitude about the penny is the evidence that the crime was committed.
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