For those that do not know, every penny starts in Greene County [TN]. Save jobs in Greene County! [ETA: Adios penny!]

[essentialsaltes]

fun fact...
35 years ago, U.S.. Rep Jim Kolbe and Senator John McCain introducted the Price Rounding Act of 1989 that would have put the penny out of ciruclation.

John McCain kept at it. From 2017:

Mike Enzi, John McCain Suggest Ditching The Penny​

A fitting tribute from Trump to his favorite Republican senator.

 

[RileyG]

If it cost more to make something than it is worth then there is no reason to keep making it.

That's true. I can understand that.

 

[public hermit]

But having a man who said “We finally beat Medicaid“ during a presidential debate and being gaslighted about his mental Acuity was better for the country?

No, but I think being willing to critique Trump and insist better from him is better for the country. Why not hold our elected leaders to better standards whenever possible?

 

[BPPLEE]

No, but I think being willing to critique Trump and insist better from him is better for the country. Why not hold our elected leaders to better standards whenever possible?

Trump is getting a lot done. 2 hostages released in two days and now he has Russia and Ukraine talking to him about negotiations to end the war. Criticize him all you want, he is effective

 

[essentialsaltes]

Trump is getting a lot done. 2 hostages released in two days with no exchange on our part

No exchange on our part?

US to swap Marc Fogel for Russian cybercrime kingpin Alexander Vinnik: Official​

Vinnik, the owner and operator of one of the world's largest currency exchanges, was allegedly instrumental in facilitating the transfer of billions of dollars for criminals across the globe, supporting drug trafficking rings, ransomware attacks and the corruption of public officials.

Last year, Vinnik pleaded guilty to conspiracy to launder billions of dollars through cryptocurrency exchange BTC-e. The Department of Justice alleged under Vinnik's operation, BTC-e facilitated over $9 billion in worldwide transactions, serving as one of the main ways for cyber criminals to launder and move their criminal proceeds.

 

[BPPLEE]

No exchange on our part?

US to swap Marc Fogel for Russian cybercrime kingpin Alexander Vinnik: Official​

Vinnik, the owner and operator of one of the world's largest currency exchanges, was allegedly instrumental in facilitating the transfer of billions of dollars for criminals across the globe, supporting drug trafficking rings, ransomware attacks and the corruption of public officials.

Last year, Vinnik pleaded guilty to conspiracy to launder billions of dollars through cryptocurrency exchange BTC-e. The Department of Justice alleged under Vinnik's operation, BTC-e facilitated over $9 billion in worldwide transactions, serving as one of the main ways for cyber criminals to launder and move their criminal proceeds.

Yeah I was wrong about that one. Thanks for clarifying

 

[wing2000]

John McCain kept at it. From 2017:

Mike Enzi, John McCain Suggest Ditching The Penny​

A fitting tribute from Trump to his favorite Republican senator.

...and moving to a one dollar coin.
Oh Elon....are you listening?

Enzi’s office saying that the measures could generate up to $16 billion in taxpayer savings.

 

[BPPLEE]

No exchange on our part?

US to swap Marc Fogel for Russian cybercrime kingpin Alexander Vinnik: Official​

Vinnik, the owner and operator of one of the world's largest currency exchanges, was allegedly instrumental in facilitating the transfer of billions of dollars for criminals across the globe, supporting drug trafficking rings, ransomware attacks and the corruption of public officials.

Last year, Vinnik pleaded guilty to conspiracy to launder billions of dollars through cryptocurrency exchange BTC-e. The Department of Justice alleged under Vinnik's operation, BTC-e facilitated over $9 billion in worldwide transactions, serving as one of the main ways for cyber criminals to launder and move their criminal proceeds.

I was wrong about some other things, there were 3 released today and I missed a half dozen others

Full list of Americans freed by Donald Trump after being detained abroad

The new administration has already secured the release of several Americans.

www.newsweek.com

 

[essentialsaltes]

US Treasury confirms the end of the penny​

"Confirming the WSJ story, the Treasury has made its final order of penny blanks this month and the United States Mint will continue to manufacture pennies while an inventory of penny blanks exists," a Treasury spokesperson said.

 

[Aryeh Jay]

More winning!

 

[essentialsaltes]

Penny shortage leaves retailers struggling to make change​

Businesses around the U.S. are desperate for pennies.

President Trump's decision to stop producing the penny earlier this year is leaving some merchants short of the one-cent coin and struggling to give customers exact change. Unable to order fresh supplies of pennies, banks are also rationing them.

Some retailers are pulling out all the stops just to scrounge up some pennies. Pennsylvania-based grocery chain Giant Eagle is holding a one-day event this weekend where customers can exchange their pennies for gift cards worth double the value of the coins, CBS News Pittsburgh reports.

The lack of pennies has also become a legal minefield for stores and retailers. In some states and cities, it is illegal to round up a transaction to the nearest nickel or dime because doing so would run afoul of laws that are supposed to place cash customers, as well as debit and credit card customers, on an equal playing field when it comes to item costs.

To avoid lawsuits, retailers are rounding down. That's expected to cost the company [Kwik Trip] roughly $3 million this year.

 

[JSRG]

To avoid lawsuits, retailers are rounding down. That's expected to cost the company [Kwik Trip] roughly $3 million this year.

To put that number into perspective: While various sources give different numbers for Kwik Trip's total revenue per year, all give a figure of at least $2 billion (with some going as high as $7 billion). But let's take that lower $2 billion number.

That means that Kwik Trip would be losing 0.15% of its total revenue.

 

[essentialsaltes]

That means that Kwik Trip would be losing 0.15% of its total revenue.

Just playing with numbers...

NRF Forecasts 2025 Retail Sales to Hit $5.42 Trillion, Despite Economic Uncertainty​

If all retail sales were subject to the same rate of shrinkage, that would be some $8 billion.

From the previous link, "The government is expected to save $56 million by not minting pennies, according to the Treasury Department."

 

[BPPLEE]

Just playing with numbers...

NRF Forecasts 2025 Retail Sales to Hit $5.42 Trillion, Despite Economic Uncertainty​

If all retail sales were subject to the same rate of shrinkage, that would be some $8 billion.

From the previous link, "The government is expected to save $56 million by not minting pennies, according to the Treasury Department."

Or you can look at it this way "Shoppers save $8 billion thanks to Trump "

 

[ThatRobGuy]

Trump's Coin Toss: What's Going to Happen When the U.S. Scraps Pennies?

Start brushing up on your math rounding skills now.

money.com

Seems like getting rid of the penny hasn't caused any long term irreparable harm to any of the other countries who've done it.

Hey, north of the border friends...you guys still surviving up there without your pennies? Has it turned into any sort of Thunderdome/rioting situation when someone's change is rounded down from $1.42 down to $1.40?

 

[BPPLEE]

Trump's Coin Toss: What's Going to Happen When the U.S. Scraps Pennies?

Start brushing up on your math rounding skills now.

money.com

Seems like getting rid of the penny hasn't caused any long term irreparable harm to any of the other countries who've done it.

Hey, north of the border friends...you guys still surviving up there without your pennies? Has it turned into any sort of Thunderdome/rioting situation when someone's change is rounded down from $1.42 down to $1.40?

What percentage of people still pay in cash?

 

[essentialsaltes]

Or you can look at it this way "Shoppers save $8 billion thanks to Trump "

Or the government loses hundreds of millions of corporate tax revenue to save tens of millions.

 

[ThatRobGuy]

What percentage of people still pay in cash?

I honestly can't tell you the last time I did lol.

 

[BPPLEE]

Or the government loses hundreds of millions of corporate tax revenue to save tens of millions.

What about all that talk about corporate greed? Now you’re saying it’s a good thing? Corporations need to make more so they can pay more taxes?

 

[essentialsaltes]

What about all that talk about corporate greed? Now you’re saying it’s a good thing? Corporations need to make more so they can pay more taxes?

I said nothing about corporate greed. I spoke of losing hundreds of millions of revenue to 'save' tens of millions of spending. This increases the deficit.