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The nickel then becomes the new penny. This propaganda is part of the inflationary process, which is intended to increase economic velocity at or faster than t
by gonational 6y ago
The nickel then becomes the new penny.
This propaganda is part of the inflationary process, which is intended to increase economic velocity at or faster than the rate of savings, at the expense of savings.
Soon, a dollar will be thought of the way we think of a quarter, and the quarter will become the new dime. Decent family homes will cost north of $2.5MM, and people will say, “back when I was a kid...”.
- awillen 6y agoSo like... San Francisco right now?
- undersuit 6y agoThis comment is at the very bottom of the comments right now and I'm glad I looked for it. I agree by killing the penny we essentially force inflation to happen. Bread priced at $.99 can be sold at $.98 far more easily than bread priced $1 can be sold at $.95. By removing the penny our jumps become more volatile. Something increasing in cost by a penny or two might take a product from 99¢ to $1 or reduce the profit margin a bit now, but when there is no penny the $1 product that needs to cost 2¢ more is going to cost $1.05.