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Economics and Investing:
Warren M. wrote to mention that in their 2010
planning document,
the US Mint is now considering a new, less expensive composition for the US
Nickel. (The five-cent
piece.) The Mint document states: "...the unit costs to manufacture the
one-cent coin (penny) and 5-cent coin (nickel) are more than their face value
for
the third consecutive fiscal year. Changing the composition of all circulating
coins to less expensive materials would ultimately result in significant
taxpayer savings without compromising the utility of these coins. Accordingly,
the United States Mint plans to work with the Department of the Treasury
and the Congress to examine alternatives to mitigate the effect current metal
prices are having on circulating coinage..." Just
as I warned, the window of opportunity for amassing the current
composition nickels may soon close. Fill a ammo can or two with nickels
now,
while you can still get 75%
copper / 25% nickel five-cent pieces at face value! Gee, if they made
all the coins out of steel, they'll be handy to beat into arrowheads,
after Helicopter
Ben totally collapses the economy.
In The Wall Street Journal: Fed
Sees Up to $599 Billion in Bank Losses: Worst-Case Capital Shortfall of $75
Billion at 10 Banks Is Less Than Many Feared; Some
Shares
Rise on Hopes
Crisis Is Easing. Are they in touch with reality? Real estate values are
still plummeting, and foreclosures are due for another spike in 2010 and 2011
(as ARMs rates reset), so any such "hopes" are just wishful thinking.
A reader in England noted that silver ingot jewelry which was produced in
large quantity for the Queen's Silver Jubilee (in 1977) can sometimes be found
selling below the spot value of silver on various Internet
auction sites. My advice to SurvivalBlog readers in the UK is to watch the
auctions
closely, and you may find a bargain, even after the cost of postage.
GG sent this: Treasury
yields soar after poor bond auction.
