Better example with coins. The lowly Penny. Todays new penny almost worthless, .41 cents as a metal, but take 15 older copper pennies and they today are worth almost ( it varies)24 cents for the copper, or around a 50% gain over old face value.
It doesn't matter how much money is floating around overseas or between banks. What matters is how much consumers are spending. That's why monetary inflation doesn't lead to price inflation unless it finds it's way to the cash register through us, either as increased income or credit. Prices are supposed to follow demand so then, why do retailers keep raising prices? Because of greed and the sheer lack of competition in our monopolized economy. That's why our money keeps loosing value.
The cost for the U.S. Mint to manufacture a quarter is about 5 cents. A quarter is about 92 percent copper and 8 percent nickel. The approximate lifespan of a coin is 30 years. The two mints that produce coins, in Denver and Philadelphia, made about 15 billion coins in 2006, including 2.9 billion quarters. More than half the coins made were pennies.
But my point is about value. Money backed by silver, holds up against inflation. Money like quarters, made of silver, have more value, and are more stable ways to hold money in your pocket. ITs like this.
What would you want in your pocket right now? A pocket full of silver quarters, or Fiat money? What would you want when your living on a fix income, like retirees? They dont need their money to lose value. They still need to eat.
Better example with coins. The lowly Penny. Todays new penny almost worthless, .41 cents as a metal, but take 15 older copper pennies and they today are worth almost ( it varies)24 cents for the copper, or around a 50% gain over old face value.
HOWFREERU 2 years ago
It doesn't matter how much money is floating around overseas or between banks. What matters is how much consumers are spending. That's why monetary inflation doesn't lead to price inflation unless it finds it's way to the cash register through us, either as increased income or credit. Prices are supposed to follow demand so then, why do retailers keep raising prices? Because of greed and the sheer lack of competition in our monopolized economy. That's why our money keeps loosing value.
Piscivorus 2 years ago
yo let me get that quarter
feeknocks 4 years ago
Good job Carl.
The COALITION lives!
einnor1040 4 years ago
Ain't that the truth! If only they can air that so the sheep in this country could understand
UcantBeSerious03 4 years ago 2
The cost for the U.S. Mint to manufacture a quarter is about 5 cents. A quarter is about 92 percent copper and 8 percent nickel. The approximate lifespan of a coin is 30 years. The two mints that produce coins, in Denver and Philadelphia, made about 15 billion coins in 2006, including 2.9 billion quarters. More than half the coins made were pennies.
ghawk1232 4 years ago
Yes,
But my point is about value. Money backed by silver, holds up against inflation. Money like quarters, made of silver, have more value, and are more stable ways to hold money in your pocket. ITs like this.
What would you want in your pocket right now? A pocket full of silver quarters, or Fiat money? What would you want when your living on a fix income, like retirees? They dont need their money to lose value. They still need to eat.
Thank you
CROCK3 4 years ago
I don't remember saying otherwise, thanks for the great points.
ghawk1232 4 years ago
When I get my income tax "refund" this year, I want it what the money they took from me last year was worth.
xylemphoenix 4 years ago
i never looked at it like that, but that is 100% true! THANK YOU for that!!!
tibbz82 4 years ago
your welcome. Please share with others.
CROCK3 4 years ago
Economics simple and easy. Great video.
BillyPi1grim 4 years ago 3
Thanks. I thought it was a good easy example.
CROCK3 4 years ago