Don’t blame Abe Lincoln for the value of the penny. He’s just being honest.
Thursday, March 13th, 2008It seems everyone these days is dumping on Honest Abe Liconln’s penny. It seems it now costs more to produce and distribute zinc pennies (no, they stopped making them with copper in 1982 when the penny was debased – they’re zinc alright).
Why blame the messenger? Poor Abe had nothing to do with this. The problem with the rising cost of zinc and other commodities like silver and gold should be blamed on the idiots who are debasing and destroying our proud U.S. economy with profligate spending policies and idiotic monetary policies.
It amazes me that some people are calling for “getting rid of the damn penny,” when really, we need to get rid of the reasons and the people who are making the penny worthless. Sure, we can debase it and start making pennies out of lead, but eventually…. even the value of the lead will exceed the value of the penny. Eventually, we could get rid of the nickel, the dime, then the quarter….
Lets not blame the messenger. Old Abe is just telling us, honestly, that our monetary and inflationary policies stink. We need to get inflation under control