It Costs More To Create A Dollar Than To Actually Earn One

[Kristy]

Pulled this right off the internet - so it must be true!

LINK (http://www.informationliberation.com/?id=34770)

I guess will be easier to panhandle for coins when no is left without a job?

[sadaist]

I remember maybe 10-15 years ago there was talk of getting rid of the paper dollar in favor of a coin. Paper dollars have a very short life span and they must continuously make more.

The biggest opponent of dumping the paper dollar was Ted Kennedy. Turns out he had some very close ties with the people who make the specialty cloth/paper whatever that is used for the currency. Funny how that works.

I am in favor a switching to a dollar coin and eliminating the paper dollar. But only if they make the dollar coin the same size as the Eisenhower dollars. Stop making them the size of a quarter and maybe people would want them.

[sadaist]

...and the price to make a dollar hasn't gone up in the last 3 years as this article states.

The value of a dollar has dropped....significantly.

[Kristy]

I have to go back and re-read the article. What they (I guess by "they" I mean the Federal Reserve) are stating the price of cotton has shot up significantly and since money is made partially from cotton...

I need to join a conspiracy cult.

[sadaist]

I need to join a conspiracy cult.


NOOOO!

You start one! That's where all the money is. ;)

[sadaist]

I need to join a conspiracy cult.


NOOOO!

You start one! That's where all the money is. ;)

[chefcraig]

I have to go back and re-read the article. What they (I guess by "they" I mean the Federal Reserve) are stating the price of cotton has shot up significantly and since money is made partially from cotton...

I need to join a conspiracy cult.


NOOOO!

You start one! That's where all the money is. ;)

http://img852.imageshack.us/img852/8919/conspire.jpg (http://img852.imageshack.us/i/conspire.jpg/)

[Nitro Express]

Most the dollars produced are computer code. Only a small percent are actually printed by the US Mint. It's simply the Federal Reserve creating them on a computer and then transferring them to various banks. What cracks me up is everyone talks about being in debt to China. Well where did the Chinese money come from? The bank of China created it from nothing and loaned it to us. I will bet you anything the heads of all these international banks get together and collude while they make billions of people around the world run around. Someone is scratching someone's back behind the scenes and at the top of all of this. Why would China loan us money and why would we accept it if members of both central banks didn't benefit in some way?

[sadaist]

Money needs to be backed by gold & silver.

[Nickdfresh]

Money needs to be backed by gold & silver.

Completely insane...

[sadaist]

Completely insane...

You're right. The current system is the pure definition of sanity.

Either way, the currency of the future will be food or ammunition. No one is going to solve the problems the world faces. No matter who we elect, shit is just going to get worse & worse.

[Kristy]

I realized I fucked up on the title of this thread. :pullinghair:

Oh well. Carry on.

[chefcraig]

I realized I fucked up on the title of this thread. :pullinghair:

Oh well. Carry on.

Fixed the title and the link, which seemed not to work properly.

[Kristy]

I couldn't get the link to work, either.

[Nitro Express]

Money needs to be backed by gold & silver.

Anything can be money as long as it's accepted in the trade. What happened with the dollar is it was backed by gold and silver originally, then the country grew into an economic powerhouse, then the Federal Reserve act got passed, and then we became the oil reserve currency, then Vietnam happened and we couldn't afford it, so Nixon took us off the gold standard to pay for the war and the Fed went crazy printing money coasting on the good reputation of the US Dollar until they killed it. That's what happened.

The Vietnam War is what broke the back of the country. Ever since Lindon Johnson became president, the country went into a steady decline. It went into hyper decline when George W. Bush became president.

[ashstralia]

we've had dollar coins since 1984, and 2 dollar coins since 1988. even though there's still loads of the originals around, they still mint new ones every year. i don't know why they do that....

[kwame k]

At some point and time getting rid of paper/coin currency will become practical, even though people will want cash, technology is to the point where it's no longer necessary.

Unless you want to live off the grid or are on the run.

[Nitro Express]

we've had dollar coins since 1984, and 2 dollar coins since 1988. even though there's still loads of the originals around, they still mint new ones every year. i don't know why they do that....

I always wondered why the US Mint keeps coming out with stupid one dollar coins nobody uses. The Susan B. Anthony dollar was a complete failure because it looked too much like a quarter. Then they came out with the Sacajawea dollar with a cheap gold coating that oxidizes and looks just horrible. It look like a big penny. I heard the reason for the quarter size is so it can be used in vending machines designed originally for quarters.

What they really need to do is punch a hole in the middle and make the coin really unique to stir interest but that might not even work because people are using debit cards with machines now. Plus, paper is still lighter than metal. You can carry a lot of money easily in a wallet but your would need a purse for coins. So it's the people who decide what the currency is going to be and so far they seem to hate these dollar coins.

[Nitro Express]

At some point and time getting rid of paper/coin currency will become practical, even though people will want cash, technology is to the point where it's no longer necessary.

Unless you want to live off the grid or are on the run.

You really still need paper money. Not every person you do business with is set up to scan cards. Plus, when the power goes out you can't buy anything. I was eating at a restaurant and a big thunder storm rolled in. The power went out. We finished the meal and I paid in cash. The waitress just got a pad of paper to record the transactions on. Well some people didn't have enough cash on them and their cards were no good because the machine wasn't up and working. So they had to sit there waiting for the power to come back on. I wondered how long those people were going to sit there?

[Nickdfresh]

You're right. The current system is the pure definition of sanity.

Either way, the currency of the future will be food or ammunition. No one is going to solve the problems the world faces. No matter who we elect, shit is just going to get worse & worse.

Yeah, actually it is. Going back to the Gold Standard is an extremist fantasy akin to decrying everything one doesn't like as "unconstitutional."

[LoungeMachine]

You're right. The current system is the pure definition of sanity.

Either way, the currency of the future will be food or ammunition. .

Oil

:gulp: