Tuesday, December 07, 2010

New Nickel Coming?

The Senate has passed a bill describing what conditions must be met before the alloys of US coins can be changed. This is of course a prelude to their being changed, much like the penny was changed from copper to zinc in 1982. A pre-1983 penny has a melt value that is close to triple its face value.

My guess is that the next target is the nickel. It is currently three parts copper to one part nickel. It's melt value is over 120% of its face value, and its about to go higher. The US government continues to debase the currency with reckless abandon, but since the Euro is having an even bigger crisis, it is masking much of
the fallout.

JP Morgan, metal manipulator for the fed, has taken a huge long position in copper. What's up? Do they know about a war coming up? Are they trying to force more silver production by driving up copper? Something else? We don't know, but it bears watching.

1 Comments:

Anonymous Anonymous said...

What are you trying to say here?

Some US coins are worth more for the metal content that they are made from?

http://www.coinflation.com/

Ok...check!

That the government is changing some coins to they don't loose money in the process of making them?

Double Check!

This is reckless abandon? This is "debasing" the currency? huh?

Oh! How silly of me! It's JP Morgan AGAIN! Of course! That pesky happy go lucky copper hoarding mega-bank!

Uh..huh...

7:54 AM, December 11, 2010  

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