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#1
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A penny saved could become a penny spurned
A penny saved could become a penny spurned
http://www.usatoday.com/money/2006-0...nny-usat_x.htm -- Is Ross Perot available? |
#2
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A penny saved could become a penny spurned
On Fri, 7 Jul 2006 12:52:50 -0400, "Jim Higgins"
wrote: A penny saved could become a penny spurned http://www.usatoday.com/money/2006-0...nny-usat_x.htm Thanks for posting that, I enjoy reading what totally clueless people write, and news reporters are pretty much clueless to start with. But rumors are driven by people being clueless, a man told me yesterday that an aluminum extension ladder could be cut in 3 foot lengths and sold as scrap for about $80, even though it obviously only weighed about 40 pounds and would probably be classed as "light aluminum". The mint can take a number of actions, rounding legislation is not needed, there are plenty of pennies, and nobody really cares, Kolbe needs the hype to get his name heard so he can get reelected (what years did he promote this garbage the last few times?). The ammunition for the article was probably the spot price for unadulterated zinc in May, which was close to $2 a pound, but it is $1.51 now, and the futures market has it at $1.25. For zinc contaminated with copper and corrosion, chances are the melt price will never be more than half of the spot market for clean heavy zinc. So the melt part of the story is nonsense, the cost of the metal being one cent is incorrect unless the mint is paying a lot for planchets production. But everybody should save coins, the more the better, instead of paying a really nonsensical price for gasoline, which is high only because governments allow gasoline and crude oil to be treated as commodities. And the mint can easily find a cheaper metal, or can simply stop minting them or reduce production, nobody will notice except Kroger and Walmart will put out the penny dishes, which have almost vanished because the only problem is on manufactured by Kolbe, and the efficiency experts who have killed many a business by discontinuing popular low value items that did not earn as much profit as some other items. This will be an aggravating election year with dirty politics and non-issues harped by every clueless politico with an agenda. Is this the 3rd or 4th time Kolbe has fought this losing battle? Joe Fischer |
#3
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A penny saved could become a penny spurned
"Joe Fischer" wrote in message ... On Fri, 7 Jul 2006 12:52:50 -0400, "Jim Higgins" wrote: A penny saved could become a penny spurned http://www.usatoday.com/money/2006-0...nny-usat_x.htm Thanks for posting that, I enjoy reading what totally clueless people write, and news reporters are pretty much clueless to start with. But rumors are driven by people being clueless, a man told me yesterday that an aluminum extension ladder could be cut in 3 foot lengths and sold as scrap for about $80, even though it obviously only weighed about 40 pounds and would probably be classed as "light aluminum". The mint can take a number of actions, rounding legislation is not needed, there are plenty of pennies, and nobody really cares, Kolbe needs the hype to get his name heard so he can get reelected (what years did he promote this garbage the last few times?). The ammunition for the article was probably the spot price for unadulterated zinc in May, which was close to $2 a pound, but it is $1.51 now, and the futures market has it at $1.25. For zinc contaminated with copper and corrosion, chances are the melt price will never be more than half of the spot market for clean heavy zinc. So the melt part of the story is nonsense, the cost of the metal being one cent is incorrect unless the mint is paying a lot for planchets production. But everybody should save coins, the more the better, instead of paying a really nonsensical price for gasoline, which is high only because governments allow gasoline and crude oil to be treated as commodities. And the mint can easily find a cheaper metal, or can simply stop minting them or reduce production, nobody will notice except Kroger and Walmart will put out the penny dishes, which have almost vanished because the only problem is on manufactured by Kolbe, and the efficiency experts who have killed many a business by discontinuing popular low value items that did not earn as much profit as some other items. This will be an aggravating election year with dirty politics and non-issues harped by every clueless politico with an agenda. Is this the 3rd or 4th time Kolbe has fought this losing battle? Joe Fischer Have you been sampling your chemistry set again? |
#4
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A penny saved could become a penny spurned
On Fri, 7 Jul 2006 14:43:51 -0400, "Jim Higgins"
wrote: Have you been sampling your chemistry set again? No, I live in the real world, and couldn't care less if the mint only makes 730 Million profit this year instead of 750 Million. You apparently fail to see the fact that the Fed official quoted stands to make a profit on a book on a related subject, and the mint official is probably one of those trying to gain political points by siding with Kolbe. I probably have 70,000 pennies, but only about 6 or 7 rolls are circulated zinc, but I will take those to the bank tomorrow to buy one gallon of gas. Congress need to vote itself another raise, they are doing such a good job. Joe Fischer |
#5
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A penny saved could become a penny spurned
Jim Kolbe announced that he is not running for re-election.
He is "retiring". You are incorrect. Neener, neener. -- """Remove "zorch" from address (2 places) to reply. http://www.sirius.com/ "Joe Fischer" wrote in message ... On Fri, 7 Jul 2006 12:52:50 -0400, "Jim Higgins" wrote: A penny saved could become a penny spurned http://www.usatoday.com/money/2006-0...nny-usat_x.htm Thanks for posting that, I enjoy reading what totally clueless people write, and news reporters are pretty much clueless to start with. But rumors are driven by people being clueless, a man told me yesterday that an aluminum extension ladder could be cut in 3 foot lengths and sold as scrap for about $80, even though it obviously only weighed about 40 pounds and would probably be classed as "light aluminum". The mint can take a number of actions, rounding legislation is not needed, there are plenty of pennies, and nobody really cares, Kolbe needs the hype to get his name heard so he can get reelected (what years did he promote this garbage the last few times?). The ammunition for the article was probably the spot price for unadulterated zinc in May, which was close to $2 a pound, but it is $1.51 now, and the futures market has it at $1.25. For zinc contaminated with copper and corrosion, chances are the melt price will never be more than half of the spot market for clean heavy zinc. So the melt part of the story is nonsense, the cost of the metal being one cent is incorrect unless the mint is paying a lot for planchets production. But everybody should save coins, the more the better, instead of paying a really nonsensical price for gasoline, which is high only because governments allow gasoline and crude oil to be treated as commodities. And the mint can easily find a cheaper metal, or can simply stop minting them or reduce production, nobody will notice except Kroger and Walmart will put out the penny dishes, which have almost vanished because the only problem is on manufactured by Kolbe, and the efficiency experts who have killed many a business by discontinuing popular low value items that did not earn as much profit as some other items. This will be an aggravating election year with dirty politics and non-issues harped by every clueless politico with an agenda. Is this the 3rd or 4th time Kolbe has fought this losing battle? Joe Fischer |
#6
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A penny saved could become a penny spurned
On Fri, 7 Jul 2006 19:41:38 GMT, "Fred Shecter"
wrote: Jim Kolbe announced that he is not running for re-election. He is "retiring". You are incorrect. Good news is always appreciated, Thank you Very Much. Joe Fischer |
#7
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A penny saved could become a penny spurned
Jim Higgins wrote:
A penny saved could become a penny spurned http://www.usatoday.com/money/2006-0...nny-usat_x.htm -- Is Ross Perot available? "Times change, you have to adapt to those changes," Jim Kolbe, R-Ariz. He must not be a strict Originalist. JAM |
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