Stupid is, as Stupid Does!

raybrockman (73) in steemsilvergold • 5 years ago

Sometimes in life you just hear some of the stupidest things. Some of them make you ask yourself why?

Then other times you realize that other people's stupidity helps you understand and realize that you did make the right decision.

Well when it comes to the United States Monetary system, it truly is " STUPID IS, AS STUPID DOES" . You see you have to powers that be, 1. Is the Federal Reserve and the other is the US mint. One produces paper money (fed Res) and the other produces US Coinage ( US Mint). Trust me when I tell you both of them are Stupid.

1200px-Seal_of_the_United_States_Mint.svg.png
Source

Lets start with the US mint. You see I always thought they had a little bit of sense to them but I was wrong. You see the allow the FEDERAL RESERVE to purchase the US coinage with FEDERAL Reserve money, then they also charge the FEDERAL RESERVE face value, so basically one penny cost the FED one penny. Here's the catch it actually cost the US mint .0182 cents to produce one penny. Thats right, it almost cost 2 cents to produce one cent. Then they sale those .0182 cents to the FED for one cent.

Oh if that got you thinking, then wait till you hear this. It also cost the US mint 0.066 cents to produce the Nickel that is worth 0.05 cents.

So we have the US mint produce coinage that cost more to produce then their face value, then to make it worse we allow the FEDERAL RESERVE to buy them with their worthless dollar bills. At this point you gotta kinda agree that our Monetary system is collapsing. Now for those still thinking we are ok, lets put some real life numbers up for facts. Last year the US mint Produced 9.1 billion pennies at a cost of .0182 so that means that those 9.1 billion pennies cost $165 million dollars to produce. Then the us mint took those 9.1 billion pennies and sold them to the FED for $91 million dollars, resulting in an immediate loss of $74 million dollars. Like I said " Stupid is as Stupid does".

Now this has been going on for over 10 years now. Some of you may have known this and some of you may not have known this. One thing is for sure @pocketchange may be a little more right then what we think, or atleast about the penny and nickel. After all they are worth more than their face value.

Federal Reserve

+

US Mint

='s

Disaster waiting to happen!

Dont be stupid!!!! KEEP STACKING.

@raybrockman

steemsilvergold steemit usmint federalreserve yourmoneyaintreal

5 years ago by raybrockman (73)

$15.62

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dkid14 (62) · 5 years ago

I’m stacking as fast as I can! Thanks to your posts I’m doing it faster.

Posted using Partiko iOS

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3 votes

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silver-hammer (67) · 5 years ago

Smart moves, thanks @dkid14 😎👍

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silverd510 (74) · 5 years ago

I really wish I was able to keep all of my old silver instead of having to sell it. I’d be in a very good place right now. Instead I’m trying to catch up

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3 votes

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silver-hammer (67) · 5 years ago

You amd I both, I am seriously thinking about cashing out of cryptos and making one hell of a silver order.

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2 votes

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silverd510 (74) · 5 years ago (edited)

That would be very ballzzzy....but i don’t see silver getting much lower than $14. Where as crypto’s still are a ways away from a break out still. Atleast in my opinion anyway. I think 2021 or very late 2020 is when crypto’s will do a big run again. I’ll cash it all out then.

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1 vote

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thedamus (72) · 5 years ago

Haven’t you heard of the pocketchange theory!!?
Damn man, you behind the times 😁😜😂😂🤣😭😭😭

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1 vote

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buggedout (68) · 5 years ago

In Australia we took our copper coins out of circulation. Due to inflation nobody seemed to care. What can you buy with 1 US penny these days anyway?

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1 vote

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welshstacker (78) · 5 years ago

We stopped making our 1 pense (£0.01) out of copper in 1992, when the price of the metal meant each 1 penny was worth just over £0.02 in metal content alone.

I see you give your old favourite a shout out, I'm sure he will love that. 😉

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1 vote

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bi5h0p (55) · 5 years ago

Let me share with you the single best tip I ever received when I used to wait tables:

"Never accept raisins from rabbits."

It's stupid, but I have never forgotten it. May it also serve you well...

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2 votes

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ronaldoavelino (80) · 5 years ago

Do you know why is this happening? Because some people in the Congress receive money from the companies that mine the materials of these coins. The same occurs with the company that produces the material for the US bills. You have $1 bills and not $1 coins because of that company. They say that it belongs to a very, very traditional family from Massachussets...

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tipu (67) · 5 years ago

This post is supported by $10.42 @tipU upvote funded by @silver-hammer :)
@tipU voting service: instant, profitable upvotes + profit sharing tokens | For investors.

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steemcryptosicko (70) · 5 years ago

Looks to be the normal nowadays, in the UK it's costs more then a penny to make a penny as well but it's all good because our central bank is owned by the same people that owns your central bank.
The Germans won by the way :)

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dreemsteem (68) · 5 years ago

Wow....that is ... So many words come to mind, but really just sad.

Deplorable?

Twisted?

Unethical.

My gosh, it's things like this that make me sick that the lack of integrity runs so deep and has so many gnarly roots... You wonder if it will ever get better?

Ans then you realize..no...it will get worse before it gets better.

So..I enjoy stacking for what I would call aesthetic reasons hahaha but they're probably mostly silly

But...is stacking - really at its core- all about accumulating silver - regardless of its value as a particular coin.

(Because if the economy ever fails and people are using silver for money...the shape/ stamp/ aesthetics.. of that coin mean nothing. Only silver content matters)

Is that correct? Please feel free to educate!! (If it's too much for a comment- feel free to use me as your pupil and write a post! Hahhahaa)

Posted using Partiko Android

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silversaver888 (72) · 5 years ago

Hehehe... I hope they fix the US Mint operations so that they at least breakeven and continue minting silver and gold coins for us, stackers of US Mint coins, like the American Gold and Silver Eagles, and commemorative US Dollar coins. Access to silver and gold coins is critical to my savings plan, more so than hand-poured silver.

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