Showing posts with label Currency. Show all posts
Showing posts with label Currency. Show all posts
Thursday, May 22, 2025

I refuse to round up

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  Get ready to round up: Treasury set to halt penny production      
Monday, February 10, 2025

The dollar doesn't have 100 pennies like Sarah McBride doesn't have the Y chromosome

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Literally the very last line in this story

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 Trump announces plan to stop making new pennies, citing production costs  In the U.S., discontinuing the penny entirely may require congres...

I got Elon Musk's Grok to admit that the penny underpins the dollar system and allows it to be more precise, and that for saving $192 million on annual penny production, reprogramming all the accounting software would conservatively cost $5.5 billion LOL

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Eliminating the penny would take only 28.6 years to pay for itself ha ha ha ha ha.  

The cash consumer will pay the cost of the Trump-Musk penny-elimination gambit: Is it the harbinger of a coming cashless tyranny?

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"The Amish have been galvanised to head to the polls and turn the battle ground red."   The little guy voted for Trump, so natural...

Mad King Ludwig bans the penny

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  Congress has the exclusive power to coin money and regulate its value, not the president, according to the US Constitution. But since all ...
Thursday, September 26, 2024

Kamala Harris dodges price controls question, Democrat hack Stephanie Ruhle is just fine with that

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 Stephanie Ruhle is the Democrat hack who was a cheerleader for the orgy of pandemic spending, which Biden's economic adviser Jared Bern...
Monday, June 10, 2024

Avoid people who insist that the US Dollar is losing its status as the world's reserve currency

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 There's an index for that:  
Sunday, February 4, 2024

This is your periodic reminder that the net worth of U.S. households is $151 trillion but there's only $2.3 trillion fiat currency in circulation anyway

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https://fred.stlouisfed.org/series/TNWBSHNO https://fred.stlouisfed.org/series/CURRCIR  Meanwhile all the gold and silver in the world har...
Wednesday, August 23, 2023

The $1 bill from 1913 is a $30 bill in 2023, if they still existed

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 Inflation of $1 from 1913 is actually $30.88, but close enough. They should bring these back.  
Saturday, September 17, 2022

This is how America ends

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 One place at a time. America and its free market capitalism depends on rules, a shared commitment to them and to their enforcement: Sound m...
Friday, July 29, 2022

America and its people have added over $12 trillion to their total credit market debt outstanding just since 2019, but that has done little but stall the decline of debt growth

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The $90 trillion millstone: We did it to ourselves . We are now in the future we tapped in the past for the prosperity of "debt draws f...
Tuesday, May 10, 2022

All Items Consumer Price Index under Jerome Powell isn't capturing inflation like it did under Arthur F. Burns even though they both increased money supply at about the same rate

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Currency in Circulation (CURRCIR) under Arthur F. Burns rose at a compound annual growth rate (CAGR) of 8.64% from Feb 1970 to March 1978. T...
Wednesday, January 12, 2022

I wouldn't give you two cents for it

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  Maya Angelou to appear on new quarters as U.S. Mint launches American Women series
Thursday, November 25, 2021

Currency in Circulation is up over 24% Oct 2019 to Oct 2021 and people wonder why there is inflation

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 https://fred.stlouisfed.org/series/CURRCIR
Tuesday, April 27, 2021

In the just 5 months since Joe Biden won the mail-in vote, the purchasing power of the dollar has already declined by 1.56%

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  The Great War, depression, gold confiscation, dollar devaluation, fiat money, More War, and inflationary monetary policy all have done a r...
Tuesday, April 22, 2014

The rapid rise of income inequality in the US dates from the close of the gold window

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From The New York Sun, here : The top decile's share of income went from something like 33% in 1971 to above 47% by 2010. Hm...
Sunday, July 21, 2013

Currency In Circulation Under Obama Is Increasing By A Factor 31% Higher Than Under Bush

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Currency in circulation under George W. Bush increased nearly 51% between November 2000 and November 2008, according to the Federal Reserve,...
Wednesday, April 17, 2013

Barry Ritholtz Is Against The World Religion Of Gold

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Barry Ritholtz here  recently had some fun with the goldbugs, whom he ridicules as devotees of a "religious cult". The piece is re...
Tuesday, April 9, 2013

US Prints Record 3+ Billion $100 bills in 2012

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The US Bureau of Engraving and Printing issued a record 3.0272 billion individual $100 bills in fiscal year 2012, according to its website  ...