Oh No, Bro!

Kill-the-penny bill introduced by Lor
July 19, 2006, 5:29 am
Filed under: Uncategorized

Representative Jim Kolbe from Arizona has introduced a bill that would eliminate the penny from the U.S. currency system. The penny, which is made primarily of zinc, costs approximately 1.4 cents per coin to mint due to the rising cost of zinc.

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I don’t see this passing and for good reason: The gov’t is the largest recipient of fractions of pennies that add up to huge sums. They will also justify the pennies cost by running the paper presses even longer, charging US securities purchasers real value assets for a currency that is backed by only broken promises to foreign purchasers that we will pay off our 4 trillion, no make it 6 trill… no make it 11 trillion dollar debt. We have already defaulted, (We made these promises to the world in the Nineties) and the only way we can get people to purchase the damn dollar is to force them to use it to buy oil. Mabe if we started trading in Petro Penies our problems would be over, cause we would then have a currency that is backed by something other than a threat of Invaision or destruction.

Comment by Bro 2

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