The Phaserl


The Fed’s War on Pennies

by Byron King, Daily

A penny saved is twopence clear,” wrote Benjamin Franklin in his now-classic Poor Richard’s Almanack, published annually between 1732–58. Franklin’s Almanack embodied — and perhaps shaped — the ethos of money in Colonial America.

Today, we’re far from pennies earning more pennies. Heck, we hardly even talk about pennies after a century of inflation. These days, if you deposit money in a bank, you receive historically low interest rates. I’ll show you an astonishing chart in a moment.

First, though, consider… What are the implications of low interest rates? How should you tailor investing to low interest? In this write-up, I have some thoughts on beating the low interest problem while preserving your wealth over the long haul…

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1 comment to The Fed’s War on Pennies

  • CalsailX

    The old copper penny I grew up with represents real value, even in today’s world. In the Seventies I remember holding a coin from a certain European country that will remain nameless. I laughed the first time I looked at it, well the same sad joke was played on American citizens.

    Gone is a coin with intrinsic value. To our being tricked into accepting a placeholder representing either a debt to Members of the Crown Temple, or something with little or no intrinsic value.

    Andrew Jackson understood the enemy the American people face today, I’ll admit he wasn’t a “good man”, however he loved his country and understood the danger it was in. If he would have attempted to spill the beans, another attempt on his life by the bankers might have ended this experiment in self government.

    Love that old penny. When annealed run though a press later filled with a perpetrator and lead. It still has intrinsic value. The Crown fears men and women who knows who they are, and know there is no hiding from the evil they have done. My-self I’m willing to cut a deal that leaves them and their spawn alive, freedom for all is worth more then retribution.

    We really need to hit the reset button, where “money” has some intrinsic value.

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