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what!
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Discussion Starter · #1 ·
Penny prices pinched by rising cost of metal - CNN.com

Further evidence that times are tough: It now costs more than a penny to make a penny. And the cost of a nickel is more than 7½ cents.

Prices for copper, zinc and nickel have some in Congress proposing steel-made pennies and nickels.

Surging prices for copper, zinc and nickel have some in Congress trying to bring back the steel-made pennies of World War II and maybe using steel for nickels, as well.

Copper and nickel prices have tripled since 2003 and the price of zinc has quadrupled, said Rep. Luis Gutierrez, D-Illinois, whose subcommittee oversees the U.S. Mint.

Keeping the coin content means "contributing to our national debt by almost as much as the coin is worth," Gutierrez said.

A penny, which consists of 97.5 percent zinc and 2.5 percent copper, cost 1.26 cents to make as of Tuesday. And a nickel -- 75 percent copper and the rest nickel -- cost 7.7 cents, based on current commodity prices, according to the Mint.
I love how their solution to a currency backed by nothing is to change the production material to something less valuable.

Just remember - $20 used to be worth an ounce of gold. Now an ounce of gold is worth $1000 (or so). If we'd remained on the gold standard every dollar would be worth $50. Commodity backed currency sounding pretty good eh? I wish more people would listen. BTW, it's illegal to melt down your coins so don't even think about it.
 

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oh yeah....copper theft has been running rampant for over a year now.....

and we wonder why our economy is sooo fucked....
 

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On a side note, interest rate and commodity prices have an indirect inverse relationship. This is why we have been seeing commodities make higher highs, while the fed has been slashing interest rates over the past few years - global demand for commodities is not the only factor that has been driving up these prices. When the fed starts raising interest rates, there will be a reversal on commodity prices, which will result in bears taking over the market. The commodity market is long overdue for a correction. If you are long on commodities, spot the top and get out as a reversal is imminent in the next few months..or this is my theory atleast.
 

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Now-G3Silver-
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Hey kotetu, the same bastards that run the fraudulent economy, are now hording gold and other resources. So they are using paper money to get REAL wealth. and if a gold standard does come back to the currency, guess who is going to have most control over global gold bullion?

For us it’s seems to be a lose:lose situation.

anyways, have a nice day my fellow serfs.
 

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Wow, this is a great idea!!

For those of you with sensitive skin, you can now try your luck with stainless steel ass pennies! No more constant asshole irritation from those old dirty copper pennies! :thumbsup:
 

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what!
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Discussion Starter · #8 ·
Wow, this is a great idea!!

For those of you with sensitive skin, you can now try your luck with stainless steel ass pennies! No more constant asshole irritation from those old dirty copper pennies! :thumbsup:
jeez man, I keep my pennies in my POCKET... I don't even want to know why you keep them.. nevermind.
 

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what!
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Discussion Starter · #13 ·
best for who? the banks? or us? they are well on their way towards making 'cheap' money now, and it's quite good for the FED. The more they print the more they can loan out. The more they loan out the more of us they own. The congress is even trying to give over the mint and the rest of the treasury powers to the FED.

Then our journey to the dark side will be complete.
 

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fuck that..I'm gonna go melt my pennies and nickels down, and sell that shit to the nearest scrap metal yard...word
 
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