US Coin Shortage

[KingsX]

Is this psyops also happening in other countries ??

This news was first announced several weeks ago... and I recently saw a sign about it in a local retail store.

First they tried to claim currency was infected with the virus. But that didn't work. Will this be the new excuse to stop cash commerce ???


Another consequence of the pandemic: a nationwide shortage of coins

June 18, 2020

Federal Reserve Board Chairman Jerome Powell acknowledged a nationwide coin shortage due in part to the coronavirus pandemic and a blockage in the coin supply chain.

(CNN) - Masks were the first to go. Then toilet paper flew off shelves. And while Americans are being nickel-and-dimed with coronavirus-related costs in a shaky economy, the latest national shortage includes, well, nickels and dimes.
There's a coin shortage in the US.

"What's happened is that, with the partial closure of the economy, the flow of coins through the economy has gotten all it's kind of stopped," Federal Reserve chairman Jerome Powell said during a virtual hearing with the House Financial Services Committee on Wednesday.

That's because the supply chain that coins usually flow through has been interrupted during the pandemic, Powell said.

Banks and businesses have shuttered or changed the way they operate. And so there are fewer coins reaching the public.

"The places where you go to give your coins, and get credit at the store and get cash you know, folding money those have not been working. Stores have been closed," he said. "So the whole system has kind of, had come to a stop."


During the hearing Wednesday, Rep. John Rose of Tennessee told Powell that banks in his district were notified by the Federal Reserve that they'd only receive a small portion of their weekly coin order. The banks told him they'd likely run out of coins by the end of the week or may need to round up or down if they run low, Rose said.

"In a time when pennies are the difference between profitability and loss, it seems like it might be a bigger concern than the announcement from the Fed would indicate that it is," Rose said.

more at link

https://www.cnn.com/2020/06/18/us/us...rnd/index.html

[Idaho Bullwinkle]

First the coins.
Next Currency (FRNs)
A large part of the problems of the "Great Depression" was that currency was taken out of circulation.
Many businesses could not make change for even a $20 bill.
This appears to me where the coins shortage is leading.

[Rob_0126]

First the coins.
Next Currency (FRNs)
A large part of the problems of the "Great Depression" was that currency was taken out of circulation.
Many businesses could not make change for even a $20 bill.
This appears to me where the coins shortage is leading.

So are piggy banks the new hedge?

[Hoppalong]

So are piggy banks the new hedge?

Glad I don't use coins and hardly ever cash in fact I have had the SAME 3 ten dollar bills in my billfold now for the last 6 MONTHS. Never pay cash for anything always use my debit card to buy everything I need to get. LOL Love it been doing a debit card since about 1987~!!!. LOL. And those tens were for a football game of chance that they have never collected. In fact I think they just canceled it.. LOL As no money is paid out, OR IN, till the end of the Super Bowl. LOL

[jazzy]

reports from new zealand that coin shortage signs started showing up in banks and stores, so its not just a US problem. i dont believe in coincidences

[merovingian]

reports from new zealand that coin shortage signs started showing up in banks and stores, so its not just a US problem. i dont believe in coincidences

Check the guidestones for a clue.

[moestooge]

Hold the conspiracies for a minute. Logic first on this issue. The U.S. Mint was closed for awhile due to the Covid-19 pandemic/plandemic. That reduced the coin supply along with the many Americans who toss change into jars as an informal savings account not being able to turn the metal into paper at closed banks. If you really wanted to push a cashless system, paper money has to be eliminated.

[JohnWalker]

Interesting conspiracy theory is if the dollar goes to zero, coins will be worth relatively more and used for commerce.

[jazzy]

not quite a conspiracy theory for coins to retain value in hyperinflation events. in history from the weimer republic to present day african nations printing gazillions---paper can be easily manipulated but coins have in history retained face value. ive read numerous stories how the average person survived such experiences of mass money printing. store owners wanted coins, gave a premium for people buying with coins, they didnt want paper unless they had to take it.

but then again, our coins have degraded in silver content, 99%, 70%, 40% to pretty shiny things that are just stamped tokens of something.

i just have a hard time believing the mint does not retain a store of coins and due to covid people not being at work they ran out. there are pallets of paper stored and on hand to be transported from one location to another as needed (knew a trucker,who did this and yes i know mint vs treasury but the fed controls the supply).. they have coins stored on hand. a decision was made to not release for whatever reason(s). could be a curious glitch at a time when the nation is going nuts or something else, time will tell. kinda makes sense to hang on to the coins.

[PatDaly]

Glad I don't use coins and hardly ever cash in fact I have had the SAME 3 ten dollar bills in my billfold now for the last 6 MONTHS. Never pay cash for anything always use my debit card to buy everything I need to get. LOL Love it been doing a debit card since about 1987~!!!. LOL. And those tens were for a football game of chance that they have never collected. In fact I think they just canceled it.. LOL As no money is paid out, OR IN, till the end of the Super Bowl. LOL

Wonderful, talk to us when the machines are down.

You can't hardly live in this modern world without some form of cashless funding, but you are equally foolish to think you can remain a free man without some form of uncontrolled barter power.