The lowly penny is facing debasement again just 28 years after the Government stripped out nearly all the copper to reduce the cost of minting in the face of inflation. The Obama Administration will likely carry through with a 2011 Budget proposal to save money by a change to the penny metal composition. This article provides an easy to understand explanation of the genesis of inflation and what coin debasement means. It then brings the reader back to the current US strategy for the effect of inflation on the penny.
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw. Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony Passive Income blog
What is a Penny Worth? US Coins to be Debased Agai
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Posted - 03/04/2010 : 15:28:14
