Monday, May 3, 2010

Finally, A Sign of Deflation!!!

According to Bloomberg, a nickel is now worth six cents. Isn't that great news, our money actually increased in value! Umm, just one minor thing; the increase in value is due to the soaring cost of the nickel in our nickel.

Too bad dollars aren't still made of silver. But, that's the whole point of fiat money, right? It allows the issuer to produce as much as it pleases and distribute it wherever it pleases, at no cost to anyone except those who hold it as a store of value.

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