Is Gresham’s law turbo-charging the cashless society, pushed by the Deep State Globalists in bed with Corporate America?
(by Half Dollar) Is this whole “coin shortage” driving anybody else crazy?
I mean, first of all, it’s not a freakin’ choice: Our Money is required, by the US Constitution, to be Gold & Silver.
Sorry Bitcoin Fanboys and Pumpers (I’d be glad to debate any prominent people on this topic, or any Bitcoin topic, just send an email to email@example.com).
Second of all, we shouted from the rooftops, “hey stackers and other smart value investors, silver’s starting to disappear right now even as it’s dirt cheap, but we’ve had no ‘premium creep‘ so take advantage”, only, we were laughed at by those who think they’re alternative saying “there’s no shortage you pumpers” and the dealers got called greedy because market forces kicked-in and premiums for actual, physical silver in-hand shot-up drastically.
Still, since we’re talking about the confounded masses not understanding where their stinkin’ pennies have gone, now that, sadly, every one of them counts, we’re bombarded by the headlines.
Side rant: Does anybody else pick up abandoned pennies from the ground, even if they’re tails’ side down?
Only greedy people tell you not to do that.
But I digress.
Side Note to the Side Rant: If people understood what’s really going on here, that we’ve arrived at the point in time where it costs more than a penny to make a penny, and at the same time, it costs less than $0.01 to digitally print $100 (estimate of energy consumption, rounded to the nearest penny), it wouldn’t just be a shortage of coinage but a shortage of everything.
A la Venezuela circa the hyperinflationary collapse.
But there I go again with that you-know-what.
OK, “Hey Half Dollar, tell us what!”.
Taking a walk down Nostalgia Lane.
Oh, and digression.
Back on track: The latest coin shortage hysteria is brought to you by everybody’s favorite wannabe alternative website, Zero Hedge:
The question is, why is there a coin shortage?
For many reasons.
First and foremost, think of all the supply chain disruptions this year:
- Mine closures
- Refinery closures
- Mint closures
- Logistics problems
In addition to the supply chain disruptions, there’s the push for the cashless society, and there’s the War on Cash.
And I’d like to add in one more reason, however: Gresham’s Law.
Gresham’s law simply states that “bad money drives out good”.
Well now, clad coinage isn’t just something you can print-up, digitally, is it?
Of course not.
So now, even the crappy clad stuff is disappearing from circulation.
Some primers, for those who may not be aware, including why a bi-metallic gold & silver standard is NOT a choice:
Some direct government resources for learning, including:
- The US Constitution’s requirement for a Gold & Silver Standard, found here and here.
- The Coinage Act of 1792, which defined the US dollar in fixed weights and measures of Gold and Silver.
Here’s some interesting discussion on silver that took place last week:
Thank you for your consideration!
Additionally, here is something else to consider:
We published that near the end of March.
Here’s the question: Has there been more or less confidence in the system since the end of March?
I’d argue there is even less confidence in the system now, be it in the Fed, with Corporate America (‘woke’ movements, cancel culture), or the government itself, at all levels.
Here’s a Pro Tip: Stackers may want to separate and set these pennies aside:
Copper pennies were minted until 1982 (those pictured above, with the picture being pulled directly from my free e-book, are “Wheat” pennies, which came before the Lincoln Memorial pennies), and their current melt value is, according to Coinflation, when checking today, nearly $0.02 (and it is when rounding!).
So set those copper pennies aside!
What do you think about the coin shortage?
Is it the push to go cashless?
Is it because of supply chain disruptions?
Finally, it’s really a shame we aren’t walking around with Constitutional coinage in our pockets:
(coin shortage) Developing…