In their rush to get us to accept the concept of digital currencies - worldwide, Imight add - The US Congress may scrap the nickel as we know it after killing off the penny. The federal government stopped minting pennies after more than 200 years because they cost three times more to make than they are worth.
Now, some lawmakers want to focus on making the high-cost nickel piece for cheaper. “If it costs 13 cents to make a five-cent coin, Washington should fix the problem instead of wasting more taxpayer money,” House GOP Conference Chair Lisa McClain said. Nickels are made at a taxpayer loss of roughly eight cents per coin, according to data cited by the outlet.
They are currently made from a mixture of 25% nickel and 75% copper. Pennies stopped being minted back in November, but the Congress-backed Common Cents Act — which is now headed to President Trump’s desk — will formally end their production after 234 years.
...
Marked down today to only $ 99.99!
Click on the banner ad to see more...
...
Stop inflation so that making the money doesn't cost more than the money made.
ReplyDeleteThat idea is just crazy enough to work.
DeleteGroan......stopping the production of the nickel. Jeese Louise, what now/again?!?!! The only way to fight inflation and to get the economy on track is to have the gubmint stop spending. End of discussion. Close the curtain. Fade to black.
ReplyDeleteSounds like a backdoor push for electronic money and all the "control" that allows the government!
ReplyDelete