The Penny Finally Succumbs to Inflation

Inflation Wins, The Penny Loses The old saying “It’s not worth a penny” implied that something was worthless. I guess even a penny isn’t worth a penny anymore. This week marked the end of an era when production of the penny (which costs four cents to make) ceased production permanently. The penny is still legal […]
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This Week in History | August 20, 2022

This Week in History 51 years ago, on August 15, 1971, the gold standard came to a close as the gold-dollar peg was completely removed. From that date forward, we have had a fiat currency, that is, a currency not backed by anything tangible. The result? Since August 1971, the CPI has risen more than […]
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