[ED. this post is by Chris Horlacher, TDV Correspondent]
"No sooner does the Canadian penny get axed, do the establishment chimps start flinging dung at the critics of this move. In the latest from the National Post, anyone criticizing the government’s decision to drop the penny is casually labeled a “crackpot”. This is pretty much par for the course when it comes to the defenders of the establishment; all they do is insult other people. Who are we, the lowly peasants, to question the decisions of our masters after all?
"Dropping the penny saves us money, they say. Does it? While it’s true that the cost of making a penny now exceeds its spending power, pontificating on why this is now the case is something we the public are apparently too stupid to engage in. Better to listen to the writers at establishment media organizations, who have never been caught off guard by an economic event, for our daily dose of economic truth.
"All of this reeks of a familiar stench though. In the late 1960’s the quarter and dime were ended in the de-facto sense. Those coins used to be made from 80% or more silver but after the price of silver began to exceed the face value of those coins they were quickly pulled from circulation and replaced by a nickel imposter. After it became too expensive even to use nickel then the government turned to steel in 1999 in order to continue creating what now amounted to little more than a casino token..." click through for the rest.