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To: blam

Isn’t there a shortage of coins?


11 posted on 10/31/2020 4:50:58 PM PDT by mass55th ("Courage is being scared to death, but saddling up anyway." ~~ John Wayne)
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To: mass55th
Isn’t there a shortage of coins?

There is something interesting about coins.

All of our paper currency is based on debt (Treasury bills, notes, and bonds).

Think of this debt as a claim on the future labor of the US taxpayer.

The Federal Reserve controls all of this.

What does the US government control? Coins

The Fed buys coins from the government, but only enough to perform transactions.

Look on the Feds balance sheet. Paper currency is an asset. Coins are an asset. Federal Reserve notes a liability.

The answer to our monetary system is to have the US Treasury issue all of our currency, not based on debt but created to pay for infrastructure and reduced (destroyed) through taxation if the economy gets too hot.

They should stop making all of these claims on the future labor of the coming generations.

30 posted on 10/31/2020 5:11:46 PM PDT by politicket (Don't remove a Bernie Sanders bumper sticker. It's the only thing holding the car together!)
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To: mass55th
Yea, the shortage of coins is probably due to all of them being in my basement. My effort to help Covid-19 since I own stock in credit card companies.
66 posted on 11/01/2020 12:31:38 AM PDT by Herakles (Diversity is applied Marxism!)
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