Inflation

[AZRedhawk44]

http://govtslaves.info/bid-farewell-to-pennies-and-nickels/

Obama, Bush, Romney, whatever.  Statists spend.  And borrow.

The result is a penny that costs 5 cents to make, and a nickel that costs 16 cents to make, because they keep borrowing money and debasing those pennies and nickels.

So, say goodbye to the penny and nickel, starting January 2013.  All transactions will be rounded to the nearest next higher dime, which according to merchants they are more than happy to do.  Wink wink, nudge nudge.

Oh, yeah.... and the dime?  It's threatened too.  9.2 cents to make that little sliver of zinc.  At least until your elected Statists further debase our currency so it takes 18 cents to even make that.  Then we'll be rounding to the nearest quarter.  Or dollar.

Zimbabwe.  It beckons.

[Nick1911]

I'm having trouble finding confirmation of this on the treasury site or any major news outlet.  Anyone else find anything?

[SADShooter]

Not confirmation, but another link: http://skewnews.com/penny-and-nickel-coins-to-be-phased-out-in-2013/#.ULZsPYafaW8

[dm1333]

An article from March of 2012 saying the penny is not going anywhere.

http://abcnews.go.com/blogs/headlines/2012/03/u-s-penny-to-be-kept-as-canada-bids-coin-farewell/

The US Mint says they aren't going away either.

http://www.usmint.gov/faqs/circulating_coins/

It wouldn't surprise me if Geithner was trying to get rid of them, though.  Hank Paulson wanted to get rid of pennies, if I remember correctly.

edit:  forgot to type in "not" on my first line

[lupinus]

Yeah, I got nothin on a major news site or the mint or anyone else I'd expect to see such an announcement from.

I'll refrain from ZOMG! till I see someone pick it up.

[AZRedhawk44]

http://s5.dailypaul.com/264525/us-mint-intends-to-remove-the-pennies-and-nickels-from-circulation-beginning-january-2013

I got it from daily paul, which normally is pretty well refereed.

However...

http://www.treasury.gov/about/budget-performance/Documents/20%20-%20FY%202013%20US%20Mint%20CJ.pdf

Page 3 of this PDF says the story is wrong.

Sorry folks.  Bad story.

[Hutch]

Inflation.  Consider that in the 100 years (mas o minus) of the Fed, the dollar has lost 95% of its purchasing power.  Ponder this factoid... every day of the last 4 years, Fed.Gov has spent four BILLION borrowed (read: printed) dollars more than it took in.  Every.  Day.  I fully expect the next 95% drop, when it starts to snowball, won't take anywhere near as long as the first 95% did.

[Tallpine]

Inflation.  Consider that in the 100 years (mas o minus) of the Fed, the dollar has lost 95% of its purchasing power.  Ponder this factoid... every day of the last 4 years, Fed.Gov has spent four BILLION borrowed (read: printed) dollars more than it took in.  Every.  Day.  I fully expect the next 95% drop, when it starts to snowball, won't take anywhere near as long as the first 95% did.

My rough calulation is that the dollar has lost 90% of it's value in the 40 years since I graduated from high school - in other words most everything is 10x more expensive. 

Of course, the 1972 dollar was already pretty devalued from 1912. 

Let's see ... ten percent of nuthin' is nuthin' and carry the nuthin' ....