Death of the Penny and Nickle? 60 Min NOW

[Issachar]

CBS - 60 Minutes - 7 PM EST.

[4JesusLove]

What about the dime, quarter, 1/2 dollad and dollar? Or forgot the five, ten and one hundred dollar.:fear

[Issachar]

134 million dollars per year to make 80 million dollars worth of penny's.

[4JesusLove]

Yeah it cost more to make them than what they are worth.

[Issachar]

They just said it costs .06 to print the paper money. Still more than they're worth! :aha

Issachar

[Issachar]

They concluded with it not being likely that they'll go away.

I would say that is true until it all goes away. :)

Issachar

[turtle]

the terrible secret of American money is thats it's worthless.

the only catch is that nobody told the American people.

As Long as the American people don't find out they will keep working and spending.

The reason our system here keeps turning is because ours is the biggest and heaviest economic wheel the world has ever seen.

It's Like a huge freight train.
Even tho it's out of gas and the engine is off ,It has so much momentum and is so heavy it keeps right on going.

[Chariots]

I'd say the only thing of value they are printing or minting are the coin's. Bad Omen when they get rid of coinage in a country. Remember all Pre-1982 pennies are solid copper. The rule of thumb is the lesser value item stays in circulation and the more valuable comes out. Solid copper pennies are fast approaching an asset value. Nickles, dimes, and quarters are all clad coins but they still have an intrinsic value. The Copper and other metals are commercially useful. Hold on to your coin jars.

[Issachar]

It's Like a huge freight train.
Even tho it's out of gas and the engine is off ,It has so much momentum and is so heavy it keeps right on going. Good analogy. I remember a few years ago, seeing a ship collide with some docks in New Orleans. It lost steering control ... it was moving sooooo slow. I watched the video on the news and it looked like it would just slide along the dock or bounce off ... NO WAY! It ripped that steel and concrete dock apart for a long distance. It just kept going ... amazing. But it too did stop, it just took longer due to it's mass.

Here is a youtube video of it. It doesn't show all that I described though ..

http://www.youtube.com/watch?v=j0R8WFYDa7s

Here is a write up about it with a few clips ..

http://www.cnn.com/US/9612/14/freighter.crash.update/index.html

I was surprised I couldn't find the whole thing on youtube.

But yes, the US economy is massive. It is out of control because it's "steering" has failed and it is, imho, about to hit the docks. It will/is cause/causing much damage as it grinds to a hault. Economy will not stop because people always will find a way through barter, their own medium of trade, etc. I just mean that the US economy as it is now will hault, not life.

Issachar

[JenGC]

I heard that it is cheaper to make a coin than it is to make a paper bill but no one will take the coins because it is so heavy.