U S. National Coin Shortage

Karlysymon

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Mar 18, 2017
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Yeah, it is interesting. I just thought that the reason Powell gave was abit flimsy.

Other countries also underwent partial lockdowns but they aren't experiencing low money velocity (in this case pennies) just because people were cooped up in their houses for months. Furthermore, wasn't the Mint supposed to be some sort of essential work?

It just seems, like the shutdown of meat plants over the virus, a planned move to create an artificial shortage. The real question to ask here is: if there is more movement toward cashless payment, what will happen when there is a blackout and cards don't work?
 






Johnny5

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Joined
Jun 20, 2019
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272
Yeah, it is interesting. I just thought that the reason Powell gave was abit flimsy.

Other countries also underwent partial lockdowns but they aren't experiencing low money velocity (in this case pennies) just because people were cooped up in their houses for months. Furthermore, wasn't the Mint supposed to be some sort of essential work?

It just seems, like the shutdown of meat plants over the virus, a planned move to create an artificial shortage. The real question to ask here is: if there is more movement toward cashless payment, what will happen when there is a blackout and cards don't work?
Exactly! What happens when the grid goes down or worse social credit scoring goes world wide and we are reliant on bits and bytes instead of coins and bills? We get shut off. That's what happens. I admire some aspects of crypto, but the fact that it is by its very nature a digital currency has me leary of it. Maybe I am just too old school in my thinking sometimes.
Oh,, I gotta go!! The neighbor's kid just threw a ball in my yard! It's mine now!!!
 






Karlysymon

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Joined
Mar 18, 2017
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4,060
Exactly! What happens when the grid goes down or worse social credit scoring goes world wide and we are reliant on bits and bytes instead of coins and bills? We get shut off. That's what happens. I admire some aspects of crypto, but the fact that it is by its very nature a digital currency has me leary of it. Maybe I am just too old school in my thinking sometimes.
Oh,, I gotta go!! The neighbor's kid just threw a ball in my yard! It's mine now!!!
I personally expect a grid-down situation sometime around late October. There is a reason Walmart was preventing people from buying seeds. And if somehow cashless outlets become widespread because the mint isn't being cranked, then it will be bad news when the grid goes down. That's how i see it anyway...
 






Lisa

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Mar 13, 2017
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Kroger stops giving change in coins due to a shortage caused by the coronavirus pandemic and will put leftover money on loyalty cards instead
 






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