If You Want People To Keep Using Cash, Support Killing The Penny
By Justin Pot on 15th May, 2015
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There’s quote you might have heard.“A penny saved is a penny earned” -Ben Franklin
First: Franklin never said that. Second: adjusting for inflation, an early 1800’s penny is worth about 25 cents today. With these points in mind, I propose the following update: “A quarter saved is a quarter earned” -Unknown
My point is simple: when the penny was worth more, no one saw the need for a piece of currency valued at 1/25th of a penny. Creating something like that would have been stupid, because you couldn’t have bought anything with it.penny-bucketToday, it’s nearly impossible to find anything that costs one cent. Anywhere.Seriously: try to find anything that costs a penny. You’ll have to resort to a single nail at the hardware store, but when you try to pay for it with your penny the clerk will probably tell you not to bother – saying to just take the nail and leave.
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I disagree. The penny is an in your face constant reminder that the Gooferment, specifically the FED (i.e., Ferderal Reserve Bank) … …
— The Federal Reserve Bank is a misnomer. IT ain’t “federal”. It reserves nothing. And, it ain’t a “bank”. It is a private cartel of the elite banks run for their benefit and that of the entrenched politicians. —
… … stolen the wealth of the world by inflation. I insist on ranting every time some wants to get rid of the penny, by pointing to Ron Paul and the evils of fiat currency.
Without the Fed’s fiat currency, WW1 and WW2 could not have been fought and the current welfare / warfare state would be impossible.
The penny is the “canary in cage” for the national debt, the deficit, the unfunded liabilities, and the out of control spending.
Keep the penny and let’s not forget WHY it’s worthless!
If you doubt any of this rant, listen to the Tom Woods podcast http://tomwoods.com/podcast/ep-397-the-fed-the-lifeblood-of-the-empire/ and how the FED enables war.
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