What The Death Of The Penny Means For Our Money

Source: What The Death Of The Penny Means For Our Money

Within my memory, coins were worth the weight of that of which they were minted; copper, nickel, silver, or gold.  Paper money held its value in trusted promises made by printers deemed trustworthy.  When our Constitution was written, there was no acceptance of money being printed by private entities who would lend Americans what should be their own their own money at interest rates decided by a few bankers (and with foreign bankers greatly benefiting from that practice.)  We have gone from somewhat reasonable fractional reserve banking downwards, accompanied by fractional value of currency also headed downwards.

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