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<p>[QUOTE=&quot;Juan Blanco, post: 1559675, member: 41665&quot;]I&#039;m a coin heretic and I favor the <i>abolition </i>of the current One Cent Coin. (I also agree with Sarah Palin: it&#039;s ugly and doesn&#039;t look like &#039;real money.&#039;) <i>P<i>enny</i>-pleading</i> is just rearranging deck chairs on The Titanic after the big ship starts listing, folks.</p><p><br /></p><p>Far more importantly, I believe - given the unsustainable &amp; insurmountable deficits (Federal, State &amp; Muni) and parabolic debt (Federal, State, Muni, Corporate and private) - we are approaching Z<i>ero Hour for Paper</i>. The inherent instability of this Late Phase Capitalist System is woefully and terminally compounded by record-high LEVERAGE. Can the markets sustain severe inflation? No: by the logic of Murphy&#039;s Law and statistical likelyhood, toxic derivative instruments will inevitably vaporize hedge fund trillion$ in another &#039;Black Swan Event.&#039; Most American capital goes to Money Heaven at that point: kiss your pension fund/401k bub-bye then.</p><p><br /></p><p>By my reckoning, this supercycle deflationary crash began in 2000 and will last ~21 years. So the Dot.Bomb of 2000-2 and Bear Stearns&#039; and Lehman&#039;s Collapse in 2007/8 will look like minor corrections in the aftermath of the Big One: an unparalleled exogenous event in US history that hits circa 2017-22. Specifically,<i> what will presage and herald the Collapse of the Dollar within the next 10 years?</i> I suppose the implosion of US Treasury Bond market - when the Biggest Bubble in History pops - followed immediately by a ~14 day bank holiday (all &#039;paper&#039; accounts frozen, then revalued) and ultimately <i>the introduction of a new, debit-card based e-currency. </i></p><p><i><br /></i></p><p><i></i>If it&#039;s true (as US Treasury Dept officials have speculated) that ~85% of US paper currency is OUTSIDE the US Borders, rest assured those foreign Dollar-holders will get the biggest haircut. Not that any of us will feel better off, though.</p><p><br /></p><p>In summary, the Dollar&#039;s Collapse will also be the end of Paper scrip ...and those silly token zinc pennies. Moot, moot, moot. So at this stage in the game, twelve years into it, I believe it&#039;s much more important to grasp THE BIG PICTURE than mourn the loss of the quaint, silly Penny. &quot;Just my two cents&quot; lol[/QUOTE]</p><p><br /></p>

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