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 Replies: 86 / Views: 7,511 |
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Pillar of the Community
United States
757 Posts |
yeah and stay away from large crowds and soup kitchens. things could get a little dicey.
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Pillar of the Community
Australia
2830 Posts |
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Bedrock of the Community
United States
17884 Posts |
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That's a good way of putting it. Economics just makes absolutely no sense to me; I know how to budget my money and that's about as far as I care to take it. But if the dollar keeps slipping and finally starts going into freefall, how do you budget your money when all of this years income won't pay the bills for next month, or the interest on the bills the month after? Or your life savings in the bank won't buy a cup of coffee? Do some reading on the hyperinflation of Germany in the 1920's or Zimbabwe in the last decade. I don't think we will get that bad, but it is a possibility. |
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New Member
United States
10 Posts |
Or, in my opinion, more dangerous is deflation (the prices of goods and services fall). Economics is cleverly engineered to confuse. I would imagine that Bernanke and his crew aren't quite so interested in the value of the dollar because we have spread our debt from one edge of the world to the other. Ironically, increasing the value of our currency could empower those who hold our debt even further (China,etc). But objectively it is ironic that all the world's currency is settling at approx the same rates. Could it be a deductive strategy to create a one-world currency? Who knows. History tells us that every empire eventually falls. I think it was Thomas Jefferson who said, "every democracy commits suicide."
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Valued Member
United States
98 Posts |
Don't you people have any faith in anything at all? You make it sound like the entire world economy is going to collapse tomorrow and we'll all be living on the streets. The horror story about hyperinflation is very very unlikely because I think we've come a long way economically since the 1920's, not to mention that this isn't Germany and that our government works differently than theirs did at that time.
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Valued Member
United States
286 Posts |
lets get back to LMC the penny is the foundation of us money.but the mint has messed it up since 1982 with rubbish metal. what is next plastic cent? |
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Pillar of the Community
 United States
2448 Posts |
Butch, sssshhhhhh! Some one at the US Mint might hear you. Don't even go there. Although, if the dollar index gets any lower they just might consider plating plastic. They chrome car parts now that only last for 5 or 6 years. That would be the death knell for collecting modern coins. I no longer believe a coin is beautiful unless it's part silver, gold, or copper. Just something about the luster....
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Pillar of the Community
United States
659 Posts |
no plastic coins! I'll have aluminium pennies before I'll have plastic!
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Pillar of the Community
United States
958 Posts |
not to sure if copper and nickel prices will hold very high for very long....
If you look at the historical high on copper , then its about time for a correction back down to the $1.50-$2.00 range...
As the real estate market tanked in 07-08 and continues tanking now and till 2115( estimate ) .. Metals will stay high maybe going into the " crazy " market of $2,000 ounce gold and $50-$80 ounce silver. Then the stress itself will cuase the market to colapse as people sell off to take profits as that happens
the real estate market starts getting bought up again by speculators over the next few years the real estate prices will shoot up again. People will take the money they profited from gold/silver/precious metals and arrange their portfolios again to include rental houses and real estate investments, then precious metals will fall to pre- 2007 prices...
The lure of eazy money will cuase people to buy up realestate again between 2015-2120 some have already started doing it now , then it will pop and the people that got out with profits will invest in the obvious precious metals again
Real Estate will gain value from 2115-2120 and the market will peak causing a crash in 2122 and start the cycle all over again, making precious metals rise once more...
No one knows the exact dates and numbers but you get the big picture.... If copper falls back down to 1.50 -2.00 a pound the cost of making cents wont be a issue anymore
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Pillar of the Community
United States
3294 Posts |
The difference between 1920s Germany and 2010s US is that the 2010s US is not being forced to pay 100,000 tons of gold (around 3 billion toz) to other countries plus 26% of our exports.
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Pillar of the Community
United States
3592 Posts |
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If copper falls back down to 1.50 -2.00 a pound the cost of making cents wont be a issue anymore Copper only makes up 2 1/2% of a modern cent...I don't believe the cost of copper is a major factor.Zinc, on the other hand, may be. |
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Pillar of the Community
United States
632 Posts |
It seems like manufacturing cost will always make the cent an issue for the government nomatter what the metal is that they use.
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Pillar of the Community
United States
3283 Posts |
Good point willy13, the cent is bound to go away because of inflation.
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Moderator
 United States
189325 Posts |
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no plastic coins! I'll have aluminium pennies before I'll have plastic! I have to agree on the plastic coins. Actually, I would rather see the Lincoln Cent come to a graceful end than endure another composition change. |
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Pillar of the Community
United States
3592 Posts |
willy13, you are correct in that assumption but the one thing that people don't factor in is the value of the cent in usage. Even if it cost more a one cent to make,when you consider how many times it is used,it is still probably worthwhile making them.I actually think a return to the original copper composition would make sense in the long run.
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Replies: 86 / Views: 7,511 |
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Posted 10/15/2010 8:08 pm
