jds6958
November 15th, 2007, 04:41 PM
well, when you start seeing articles like this, you know it is getting interesting...it has been close for awhile but we have officially inflated away the value of a penny. The material value of the penny now outweighs what the global market determines the penny to be worth as a currency...
imho, the day will come when the $.02 of paper that is used for the USD will be worth more than what the global markets say it is worth (unless we subscribe to another currency). Similar to how Germans used their currency for firewood after WWI.
http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=3301
House Financial Services Committee Chairman Barney Frank, D-Mass., abruptly canceled a hearing first slated for Oct. 31, and then Nov. 7, that had been designed to deal with the administration's attempt to take control from Congress of coinage size, weight, composition and design, and another congressman's attempt to hijack the cent melting prohibition for a constituent who wanted to melt pennies and send the metal to China.
imho, the day will come when the $.02 of paper that is used for the USD will be worth more than what the global markets say it is worth (unless we subscribe to another currency). Similar to how Germans used their currency for firewood after WWI.
http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=3301
House Financial Services Committee Chairman Barney Frank, D-Mass., abruptly canceled a hearing first slated for Oct. 31, and then Nov. 7, that had been designed to deal with the administration's attempt to take control from Congress of coinage size, weight, composition and design, and another congressman's attempt to hijack the cent melting prohibition for a constituent who wanted to melt pennies and send the metal to China.