Rather Than Restoring Soundness to the Dollar, Senators Seek to Debase the Nickel

6:47 AM

First published by Money Metals Exchange here: https://www.moneymetals.com/news/2023/04/24/rather-than-restoring-soundness-to-the-dollar-senators-seek-to-debase-the-nickel-002730

Fiat currencies that are undergoing inflation eventually reach the point where the smallest unit of account becomes practically worthless – more trouble to handle and account for than it's worth. That is the current state of the cent. Few people today would bother to pick up a penny laying on the ground. Back in 2018, Rep. Brad Sherman (D-CA) likened pennies to "litter" in a speech on the House floor.

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