Corroding pennies and national debt

Corroding pennies and national debt

This is a discussion on Corroding pennies and national debt within the Off Topic & Humor Discussion forums, part of the The Back Porch category; I was looking at my stash of pennies the other day and noticed that some of them are unreconizeable now due to corrosion. Banks don't ...

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  1. #1
    VIP Member Array mlr1m's Avatar
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    Corroding pennies and national debt

    I was looking at my stash of pennies the other day and noticed that some of them are unreconizeable now due to corrosion. Banks don't even have to take them in this condition.

    This got me thinking. Why not do this with paper currency too? We can make it out of a high acid type paper that disolves in a few months.
    I believe I have stumbled onto the answer to all our problems. How can China redeem them if they have decomposed? I'm thinkin Nobel stuff here.

    Michael


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    Distinguished Member Array P7fanatic's Avatar
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    Cool

    They'll probably just start doing what N. Korea does. Print their own greenbacks.
    "The price of freedom is eternal vigilance." -Thomas Jefferson

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    VIP Member Array packinnova's Avatar
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    Quote Originally Posted by mlr1m View Post
    I was looking at my stash of pennies the other day and noticed that some of them are unreconizeable now due to corrosion. Banks don't even have to take them in this condition.

    This got me thinking. Why not do this with paper currency too? We can make it out of a high acid type paper that disolves in a few months.
    I believe I have stumbled onto the answer to all our problems. How can China redeem them if they have decomposed? I'm thinkin Nobel stuff here.

    Michael
    Yeah just wait until all that cash starts rolling in...what was it '44 when china agreed to go with the US dollar as their reserve currency(in the form of treasury bonds)? They've still got a few trillion and here's the scary part...they just announced they've been hording gold recently. At least as of 2004 they only had around 200 metric tons of gold. As of this past Friday they have something on the order of 1056 metric tons and they've made it known that they're looking to pick up at least another 600 in the next month or so(Latest Forbes release as of Friday).

    What you're seeing here is the beginnings of China wising up and looking to back their own currency with actual tangible assets. Once they feel that their currency is secure, they ARE going to dump all those US dollars. The only place they have left to go....back home. Welcome to even more inflation. YAY for fouled up US economy and we've only brought it on ourselves!

    So...what exactly would building in a self destruct mode on our newly printed currency do? The only thing I can think of, would mean another excuse for the FED to print more fiat money and foul us up even more..."Well Cletus...our currency is about to burn up in 2 weeks, we better get to printing more!"
    ...Just a thought....
    "My God David, We're a Civilized society."

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    VIP Member Array packinnova's Avatar
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    Quote Originally Posted by P7fanatic View Post
    They'll probably just start doing what N. Korea does. Print their own greenbacks.
    Nope. China doesn't want US Dollars. They haven't for some time. They've been looking at ways to offload our fiat money for years. Thankfully, they haven't had the cajones to just dump it into the system yet because they know if we completely collapse, that that would effectively collapse their industrial jobs. IE, no more stupid americans buying boatloads(literally) of chinese goods.
    "My God David, We're a Civilized society."

    "Sure, As long as the machines are workin' and you can call 911. But you take those things away, you throw people in the dark, and you scare the crap out of them; no more rules...You'll see how primitive they can get."
    -The Mist (2007)

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    I think next year our paper money is going to be printed in China anyway.

    It will be stamped "Made In China" real small directly under the pyramid.

    Labor costs are cheaper there.

    I hope the ink does not contain any trace amounts of "Lead" though or it will be hazardous to small children and it will all need to be recalled.

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    Member Array gaowlpoop's Avatar
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    When ever I need a specialized washer, is use a penny. I can make exactly what I need, even a washer with an off center hole. Besides that, a washer would cost 3 or 4 cents, a penny costs - well a penny.
    Steven
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    VIP Member Array JoJoGunn's Avatar
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    Quote Originally Posted by QKShooter View Post
    I think next year our paper money is going to be printed in China anyway.

    It will be stamped "Made In China" real small directly under the pyramid.

    Labor costs are cheaper there.

    I hope the ink does not contain any trace amounts of "Lead" though or it will be hazardous to small children and it will all need to be recalled.
    You mean it isn't?

    Pennies. They used to be 95% copper before 1981. Now they are made from zinc, with a copper plating. No wonder they corrode.
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    VIP Member Array mlr1m's Avatar
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    Quote Originally Posted by JoJoGunn View Post
    You mean it isn't?

    Pennies. They used to be 95% copper before 1981. Now they are made from zinc, with a copper plating. No wonder they corrode.
    In the past it was necessary to back our currency with something of value. This is no longer the case. The meer fact that our government promises to make good on it is all we really need. As long as we have a good economy and a huge taxable income........hmmmm...Houston we have a problem.

    Michael

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    Quote Originally Posted by mlr1m View Post
    In the past it was necessary to back our currency with something of value. This is no longer the case. The meer fact that our government promises to make good on it is all we really need. As long as we have a good economy and a huge taxable income........hmmmm...Houston we have a problem.

    Michael
    But...but...but..., they PROMISED!

    I have a headache.
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