The Israel Deception

Is the return of Israel in the 20th century truly a work of God, or is it a result of a cosmic chess move to deceive the elect by the adversary?

Showing posts with label nickel. Show all posts
Showing posts with label nickel. Show all posts

Monday, May 13, 2013

Coin clipping: government seeks to change metals in future coins

During World War II, the government exchanged metals suck as nickel for steel in coins for metals to help supply the war effort.  However, these actions were short term, and lasted just a few years.

Now, with inflation causing metal prices to rise, and value coins greater than their face value, the government is once again looking to replace metals such as nickel and copper with steel and perhaps metals with little value.

Photo courtesy of Coin News.net
A measure introduced in the U.S. Congress seeks to replace the base metal of most American coins with iron. The move would slash the nickel and copper content of U.S. coins to a fraction of today’s already reduced levels. Like past changes in metal content, the bill represents a logical continuation of currency debasement and calls into question the strength of U.S. fiat currency—yet another sign of the decline of the global monetary system.

Congressman Steve Stivers (R-OH) introduced the bill, H.B. 1719—the “Cents and Sensibility Act”—on April 24. It mandates that pennies, nickels, dimes and quarters be composed primarily of steel; specifically U.S. produced steel. He presents the bill as a budget measure, stating, “This legislation is a common-sense solution to decrease the cost of minting our coins. Not only will it cost less, but steel is an American resource that we have here at home and can be manufactured right here in our backyard.” His office asserts that, according to the House Financial Services Committee, the U.S. government would save up to $433 million over 10 years. - Gold Silver.com

After 1964, the Federal government removed silver from its minted coinage, and began the process of clipping coins to be primarily symbolic versus valuable.  Now, if this new bill passes, a pocket full of money will soon just be stamped steel disks.

Friday, March 30, 2012

Price inflation for metals leads Canada to toss the penny

On March 30th, the nation of Canada made a decision to eliminate the penny from its monetary system and use a rounding up method for purchases and transactions.  The decision was based on the rising cost of metals which are used to mint the 1 cent denomination, and no longer will it cost 1.5 cents just to create 1 cent.



Canada will withdraw the penny from circulation this year, saving taxpayers about C$11 million ($11 million) annually and forcing retailers to round prices to the nearest nickel, the government announced in its budget today.

The Royal Canadian Mint, which has produced 35 billion pennies since it began production in 1908, will cease distribution this fall due to the coin’s low purchasing power. Production and handling cost for the one-cent coin are a C$150- million drag on the economy, according to a 2006 study by Desjardins, a Levis, Quebec-based financial institution. - Bloomberg

When I was a military brat overseas in Spain in the early 1980's, the USAF was doing this form of monetary policy, and rounding up transactions to the nearest nickel.  With inflation devaluing the dollar denominations fast and furious, it may be time to make that policy complete and join Canada in tossing the penny from the economy.