Inflation is real - Beware the Jedi Mind Tricks
Some people are celebrating the end of the production of the penny. I think the influencers excitement is just another Jedi mind trick to conceal inflation. They are giving you a nudge to think that it is so wise of the government to stop producing them. But they are concealing something more serious: Rampant inflation.
My wife came home from the grocery store in tears
Just a couple weeks ago, my wife came home from the grocery store in tears. Like most people, we are on a budget. As the prices of groceries climb, it gets harder and harder to stay in budget. You shouldn't read into this that we are going hungry or are malnourished. We have healthy foods and no one is going hungry. It's just taking more and more money to hit that mark.
Now people making $100,000 a year or more are grocery shopping at Dollar Stores! This is a whole new trend. (Read about it here.)
"Inflation doesn’t just make things cost more. It slowly trains people to accept less"
There are no pennies in Zimbabwe either!
Zimbabwe quit making pennies too. In fact, they also quit making anything under a 100 bill! If you go to an ATM there, the smallest bill you will get is 100. That's because a loaf of bread costs 13,200 Zimbabwe dollars. (At one time a loaf of bread was 35 million Zimbabwe dollars.)
Inflation always happens with fiat currency, which is money backed by...well...nothing
Most politicians and economists that want a job follow the theory that by printing money a nation can spend its way into prosperity. That will never work in the long run. They are following the theory of John M. Keynes. Keynes didn't like a long term outlook on economics. He's famous for saying, "In the long run, we’re all dead." Except, we're not dead. Our children and grand children are not dead. This is just plain bad advice.
Your "paper" money has to represent something, otherwise, it's just, well...paper. It used to represent gold until (probably) someone stole the gold from Fort Knox. Elon Musk's DOGE was supposed to audit Fort Knox, but "someone" stopped him.
Trump thought an audit was a good idea too. He said,
"I'm going to see if we have gold there. We want to find out. Did anybody steal the gold in Fort Knox?"
I wonder what ever happened to that audit. The audit was never done. Musk resigned shortly after this announcement.
The only money backed by ANYTHING now is Cryptocurrency (and "Goldback" bills)
Love it or hate it, Crypto is the one of the only currencies that represents actual work:Time, money, and effort. If you mine gold from the earth, it take specialized equipment, time, and man-power. Its the same with cryptocurrency mining. You need specialized equipment, power in the form of electricity, and time. Each coin represents work done by specialized equipment, same as gold or silver.
Trump is THE Crypto President
Trump told a crowd that he would be the Crypto President. He has done a lot to help Cryptocurrency in his first year in office. He called off the FBI and DOJ from persecuting crypto developers. However, one has slipped through the cracks.
The Samurai Bitcoin Wallet founders were recently sentenced to 5 years in prison for allegedly facilitating illegal transactions. The crime? Bad guys used their free technology to commit a crime. This happens every day on an iPhone and Android, but you don't see them going to prison! Here's a technical break down: https://bitcoinmagazine.com/legal/freesamourai They need a pardon too. Biden started their persecution. And Pam Bondi's DOJ put them in prison.
Don't fall for the trick!
Inflation is happening all around us. Fiat money (greenbacks) is bad. It will always inflate. Crypto or "Goldbacks" is the way forward.
One other option: Gold infused bills
I'll leave you with this gem: A company has figured out how to weave threads of gold into bills. You bills literally have tiny bits of gold in them. It's awesome! Check it out: