tag:blogger.com,1999:blog-6704573462403312459.post5000910836740194450..comments2024-03-27T08:14:24.828-04:00Comments on Moneyness: Pennies as state failureJP Koninghttp://www.blogger.com/profile/02559687323828006535noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-6704573462403312459.post-47080875869877201672022-07-21T19:45:42.442-04:002022-07-21T19:45:42.442-04:00This penny madness has been going on for a long ti...This penny madness has been going on for a long time now. 40 years ago, they changed the composition of pennies, from copper to zinc. Even today, there are lots of pre 1982 copper pennies that I can get a hold of, and a handful of wheat pennies as well. How long will this madness go on?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-44306347384993110482020-08-20T23:56:27.724-04:002020-08-20T23:56:27.724-04:00Another reason for populist resistance to disconti...Another reason for populist resistance to discontinuing the penny is public suspicion of inflation. Small real value coins don't cause inflation, of course! But ending their production is a signal that the government may not be as serious about fighting inflation in the future, which would be politically unpopular.The Eidolonhttps://www.blogger.com/profile/17617139131166125571noreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-67950985924176579242020-08-13T10:44:17.673-04:002020-08-13T10:44:17.673-04:00These (conspiracy) theories have their roots in li...These (conspiracy) theories have their roots in literature as well, as you have already written (Gibson's Count Zero and the Compubank by Atwood).<br />Here in Brazil, we are creating new notes (200 reais) without taking a penny out of circulation. <br />Despite conspiracy theories, many of the reports about the future of economy/payment systems say that the future will be cashless, it has to be. These reports are purchased by global banks, governments, etc. And they always deal with the problems of a cashless world (lack of privacy, greater possibility of government actions, etc).Aluysio Athaydehttps://www.blogger.com/profile/07336246247863764667noreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-84114664421394836322020-08-03T06:13:33.520-04:002020-08-03T06:13:33.520-04:00It's great not having to worry about them here...It's great not having to worry about them here (I'm an American in Australia for 10 years). No way will US get rid of them. There is absolutely nothing that can be done now without a multi-tentacled conspiracy theiry, or theories, being spun around them. The GOP in the house and senate have shown their willingness to push back, and recently have begun participating in them. We'd have pennie truther protests, Rand Paul would Rand Paul, and nothing would happen. Not that anybody really loves using pennies or really needs them but Americans are afraid of change and one group always sees nefarious motives in everything. Chrishttps://www.blogger.com/profile/00704463643098138065noreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-86017973065695207942020-07-27T21:31:48.793-04:002020-07-27T21:31:48.793-04:00This is so fascinating and insightful. Thank you!This is so fascinating and insightful. Thank you!Amyhttps://www.blogger.com/profile/00932471031963617438noreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-7742277503710128872020-07-24T22:03:51.200-04:002020-07-24T22:03:51.200-04:00Thanks!Thanks!JP Koninghttps://www.blogger.com/profile/02559687323828006535noreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-69633743847052589772020-07-23T10:53:32.638-04:002020-07-23T10:53:32.638-04:00Found a typo: "So far it has paid him $50,000...Found a typo: "So far it has paid him $50,000 in 2002." I think you meant "2020."<br /><br />Great stuff as always!<br />(Feel free to delete this comment.)Anonymousnoreply@blogger.com