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Thread: WOOHOO!!!!! Picked Up 11c In Parking Lot

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    Featured Member minnow's Avatar
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    Default WOOHOO!!!!! Picked Up 11c In Parking Lot

    Got off to a good start to work by picking up a stray dime and penny in the parking lot ! Now, for those who laugh at this sentiment, consider this: Making this much daily interest ( a whopping 11 cents) in many bank accounts would require having ~ $40K - $80K on deposit. Still laughing ??
    I'm right 96% of the time. I don't sweat the other 5% .......................

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    Thumbs up Re: WOOHOO!!!!! Picked Up 11c In Parking Lot

    It doesn't matter how much $ I have, finding random change is always exciting to me. The fiancé & I go for walks to get fresh air & I frequently find random change. It makes me excited in a fun, childish kind of way: "look babe, I just made 20c getting some exercise haha.". The way I see it, as long as the money is flowing towards me, be happy about it!


    cute clothing for brainy babes:
    www.cleverbutcute.com




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    Default Re: WOOHOO!!!!! Picked Up 11c In Parking Lot

    ^^^ actually the 'purchasing power' of the US dollar thus the penny has been debased to the point where 11 pennies now represent 15 cents worth of commodity copper !!! In fact, the US congress was forced to pass a law preventing pennies from being melted down and sold as 13 cents worth of copper 'scrap' !!!

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    Featured Member minnow's Avatar
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    Default Re: WOOHOO!!!!! Picked Up 11c In Parking Lot

    Mel, the penny I picked up was post 1982, which is 97.5% zinc/2.5% copper vs pre 1982 ( and some 1982 pennies) being 95% copper/5% zinc. Mel, do you think you'll live long enough to the point where paper becomes a valuable commodity ?

    PS- kk, do you keep a coin jar ? Surprised Mel hasn't mentioned this, but picking up coins is more tax - free income.
    Last edited by minnow; 09-02-2012 at 10:13 PM. Reason: addendum
    I'm right 96% of the time. I don't sweat the other 5% .......................

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    Banned Melonie's Avatar
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    Default Re: WOOHOO!!!!! Picked Up 11c In Parking Lot

    Mel, do you think you'll live long enough to the point where paper becomes a valuable commodity ?
    I already own, as do we all, the only paper that has 'real value'. It comes on round rolls, and performs the valuable function of wiping your ass ! And many countries have already discovered the 'real value' of their paper currency after it has been thoroughly debased ...





    (snip)But is it cost-effective for Zimbabweans to use money instead of T.P.?

    A roll of toilet paper costs about $1.50 U.S. dollars and has about 352 sheets per roll. That means each sheet is worth about US $.004, or 3,600 Zimbabwe dollars, according to OANDA.com.

    So according to these calculations, using a ZWD 1,000 note in place of a piece of toilet paper is a wise financial decision."(snip)

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    Default Re: WOOHOO!!!!! Picked Up 11c In Parking Lot

    on the serious side of your topic, a new PEW poll was released which arguably shows that most Americans are virtually unaware of the effects of FED policy / currency debasement ...

    from





    (snip)"Three Lost Decades!

    Median net worth is back to a level first seen in the 1980s. By that measure, the US has had three lost decades. Wow.

    62% Blame Politicians, Only 8% Blame Themselves

    Note that 62% blame politicians and 54% blame financial institutions, but only 8% blame themselves.

    Five Questions

    1.Did banks force people to take out loans they could not pay back, or did people do so voluntarily?
    2.Who elects congress?
    3.Do people make enough effort to understand interest rates, debt, the economic policies of politicians, exponential math and its implications, the untenable nature of public union pension plans and promises?
    4.Do a significant number of people (if not the majority) get their economic views (assuming they have any economic views) from The View, Oprah, The Talk, or CNBC?
    5.Why did PEW leave off the Fed and Fractional Reserve Lending from the list of answers?

    Two Bonus Questions

    1.Would the majority of respondents know anything at all about the Fed and Fractional Reserve lending had the PEW listed those options?
    2.Who is really to blame for what is happening ? (snip)

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    Default Re: WOOHOO!!!!! Picked Up 11c In Parking Lot

    Quote Originally Posted by minnow View Post
    Got off to a good start to work by picking up a stray dime and penny in the parking lot ! Now, for those who laugh at this sentiment, consider this: Making this much daily interest ( a whopping 11 cents) in many bank accounts would require having ~ $40K - $80K on deposit. Still laughing ??
    This actually baffles me about US banks. Back in my home country, I am used to getting close to roughly 10% interest per annum.

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    Default Re: WOOHOO!!!!! Picked Up 11c In Parking Lot

    ^^^ while not all that well understood by many people, interest rates are just one 'leg' of a financial triangle that also includes exchange rate / 'purchasing power' and money supply inflation / price inflation. Being able to earn 10% interest in a particular currency offers absolutely no advantage if the exchange rate / 'purchasing power' of that currency is dropping by 20% per year, resulting in prices of global commodities like food and energy to rise by 25% per year as denominated in that currency. In extreme past examples like Weimar Germany, Zimbabwe etc. the annual percent change reached 4 digits !!! Thus every citizen of Weimar Germany, Zimbabwe etc. became a 'millionaire' ... but that million would only buy a single loaf of bread !!!

    What actually matters is the 'spread' between the legs of the financial triangle. Right now, where US dollars are concerned, the official 'spread' is on the order of NEGATIVE 3%. The 'real world' spread is claimed to be more like NEGATIVE 7%. Thus depositing US dollars at 1% interest results in a net 2-6% annual LOSS in 'purchasing power'. Investment gains of 5% pretty much results in a de-facto 'break even' situation in terms of 'purchasing power'. And, not surprisingly, those segments which make possible actual gains in 'purchasing power' have been related to food, energy, and to some extent precious metals.

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