I just read an essay
(https://www.hoover.org/research/thoughts-your-penny?utm_campaign=9856693-MKT%20%7C%20Defining%20Ideas%20%7C%202025&utm_medium=email&_hsenc=p2ANqtz-8tNmgrAZSjCgPaSERowd2W2mK9PpntKK38VjdoySt-HHYnIML9AsxZQA1jI1Tw713jBWTqpKSH-8n5dvEJxjwgwKY1Vg&_hsmi=351990653&utm_content=351990653&utm_source=hs_email)
advocating elimination of American 1-cent coins (often miscalled pennies), and 5-cent pieces as well, because the cost to produce them exceeds their value….therefore the government makes no profit on their manufacture.
But wait, is the purpose of government to make a profit? Surely not! We do not want its cost to be unsupportable, but profit is by no means its goal. Its justifying purpose is clearly spelled out in our Declaration of Independence, and that is, “to secure [our] rights”. The issuance of currency supports that by providing a trustworthy medium for free exchange of goods and services, surely an important fundamental right.
But there is a vital question that the writer does not ask. It is not, “Has the cent enough value to be worth minting?”, but “Why has the cent (and the dollar, for that matter) so little value?”
Opening my reproduction of the 1908 Sears, Roebuck catalogue at random, I see a solid silver letter-opener being sold for 79 cents. On another page I see your choice of many articles including a bucket, a paintbrush, a coffeepot, a skillet, sold for eight cents each.
“Well, inflation” I hear people saying, as the cause. Bu what is inflation? It is not mysterious and uncontrollable like weather, it is merely an increasing imbalance between money in circulation and goods available for purchase. And money, according to our Constitution, it is the purview of Congress to coin.
Not long after that Sears catalogue was printed, in 1913 to be exact, Congress outsourced that power to a private cartel with the misleading name of “The Federal Reserve Bank”. The stated purpose was to “stabilize the currency”, but on the Fed’s watch, if you compare those 1908 prices with today’s for comparable goods, you will see that our money has lost approximately 99% of its value. That is simply theft, not an accident.
Old news, you might say. Statute of limitations expired. But what if some member of Congress introduces a bill abolishing the Fed and directing the Mint to begin issuing gold and silver money, or notes redeemable in same? Would not any Congresscritter voting against said bill be a new co-conspirator in the 113 year old robbery scheme, and prosecutable as such?
How on Earth would a Congress member be prosecuted for this? So glad you asked. You are in the right place to find out. www.securetheserights.net