All the attention focused on how costly it is to make pennies is worth less than any piece of copper.
For much of last year the most popular cited reason, the go-to justification for scrapping the penny was that making one costs more than what it’s worth. Simple economics, or even simple logic shows that is completely false.
Government officials and media often reported that because it cost 1.6 cents to make a penny Canada was losing money with every one it minted, however that’s not how printing and coining money works.
Making a penny at the cost of
. . . → Read More: The Scott Ross: Penny Wise, World Foolish: Pennies Never Cost A Cent
Via YouTube: Dan Mathews has done us all a favor, with his educational documentary, as he reveals common misconception in how we deal with banks. Watch and laugh as Dan catches our politicians off guard with some simple questions. These questions are simple, but you’d be surprised who actually has trouble answering. In the end READ MORE
A Swiss-based company has introduced credit card size sheets of gold that can be broken like a chocolate bar into 1 gram pieces, and they are rapidly growing in popularity across Europe – especially in Germany, where the people still remember the massive devaluation of the currency and the pain of hyperinflation. The current market [...]
I remember way back when when I was in school, not back in the days of the one room schoolhouse but back in the days of the eight classroom schoolhouse with one class for each grade when everyone walked to school, learning about maple trees and maple leaves. We learned about the Norway Maple, and that it’s name came from it’s origins in Norway but I do not recall learning that it was an evil
Last month, the Royal Canadian Mint put into circulation a new generation of loonies and toonies.
The Royal Canadian Mint, however, did not give Canadian cities official notice of when the new coins would be distributed.
Canada’s new loonies and toonies are costing Canadian cities, as well as retailers and other coin-operated businesses a lot of cash to convert and re-calibrate coin-accepting machines, i.e. parking meters, laundry machines, etc.
Seems Canada’s new loonies and toonies have been causing headaches from coast to coast to coast…
In the end, the new coins are more secure, longer lasting, and more
Move your money now – put it into gold, silver, and if you can, more importantly, a piece of land that can feed your family, tools for self-reliance such as solar and wind energy, seeds and garden tools, a trailer, teepee, yurt or cottage, in cas… . . . → Read More: Writings of J. Todd Ring: BBC speechless as trader tells truth: “Collapse is coming… and Goldman Sachs rules the world”
During the nineties, the predominant form of economic crisis that could hit a nation was the currency crisis whereby the value of a countries currency drops precipitously. Most infamously was the Asian financial crisis, whose effects rolled around the… . . . → Read More: Progressive Proselytizing: The similarities between debt crises and currency crises
Separate reports this week in the Swiss newspaper Neue Zuericher Zeitung (NZZ) are highlighting the difficult choices Switzerland, and by extension other nations, are facing in the continued onslaught of effective currency devaluation by US and Eurozone officials. The Greenback and the Euro have fallen significantly against the Franc and other currencies in the past years as their governments and central banks have created a glut of supply; by loosening monetary policy, lowering interest rates and creating massive amounts of new debt to bail out ailing banks, businesses and governments. The choices for nations such as Switzerland are clear: (Read more…)
This week’s Economist magazine’s headlining articles and cover-page, ‘Buying up the world- The coming wave of Chinese takeovers’ highlight the process and nature of foreign takeovers by Chinese firms. The piece offers surprisingly little discussion or speculation as to China’s deeper motivations and timing in its recent takeover bids for large multinational companies, or as to the reasoning of other governments and critics who would resist the emerging trend before concluding that rejecting China’s advances would “be a disservice to future generations.”
There is something absurd about the reasoning in these articles, which do point out the “opaque (Read more…)
The conclusion of the most recent G20 summit in Seoul last Friday, hailed as a success for political reasons by attending politicians, was punctuated with the following agreed upon statement: “Uneven growth and widening imbalances are fueling the temptation to diverge from global solutions into uncoordinated action… uncoordinated policy actions will only lead to worse outcomes for all.” In other words, ‘while we agree in principal that it is best to agree, we disagree.’ I can only imagine that, if only the leaders of nations in times past, who with the specter of wars and economic strife looming (Read more…)