Wednesday, January 06, 2010

Fishy

The Liberty Maven Blog alerted me to a program from the U.S. Mint that will allow you to order 250 to 500 $1 coins and they will ship it to you for free.

The site actually states, "The intended purpose of the Circulating $1 Coin Direct Ship Program is to make $1 Coins readily available to the public, at no additional cost, so they can be easily introduced into circulation–particularly by using them for retail transactions, vending, and mass transit. Increased circulation of $1 Coins saves the Nation money."

Ponder that last sentence for a moment. How could using $1 coins save the government money?

Jake Towne of Liberty Maven answers the question: "The Mint is trying to replace $1 bills, which cost around 5 cents each to print as they wear out very easily over several years, after which it is shredded and treated as toxic waste." He points out that the melt value of the coins is approximately 5 cents--though they never need to be replaced.

Does this not clearly demonstrate the duplicity of our monetary system? Our money has virtually no value--the U.S. Mint's policies demand that its currency cost as little as possible. The bounds on money creation were long ago unleashed and this further demonstrates my contention that our understanding of capital has been destroyed.


-------------------------------------------
Buy and store gold abroad at BullionVault.

Get free shipping on your gold and silver purchase at Lear Capital.

Buy and Store Gold at Goldmoney.

No comments: