Tuesday, April 19, 2016
The End of the Penny (Thanks to the Fed)
The US Treasury may soon
a suspension of penny production, something they hope will spur Congress towards eliminating the one-cent coin.
The real culprit, of course, is the Federal Reserve which through its money printing ways has destroyed the buying power of the penny,
At the start of the Fed in 1914, a penny had roughly the buying power of a quarter.
Instead of ending the penny, Treasury Secretary Jack Lew should call for the end of the Fed.
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