The copper standart by frdem3dot0

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money · @frdem3dot0 · Jan 25 '19

$0.28

The copper standart

Over the last 20 years there was a yearly inflation of about 7%. This is not price inflation but the growth in supply of dollars. Overall this means that we now have roughly 4 times as many circulating dollars than 20 years ago. Prices are more complicated since they do not only depend on the supply but also on the velocity of money and the industrial productivity.
[M2-money](https://fred.stlouisfed.org/series/M2NS?utm_source=series_page&utm_medium=related_content&utm_term=other_formats&utm_campaign=other_format)

But there is one fundamental problem. Money supply grows exponentially, but the real world does not have anything that can grow exponentially for extended amounts of time. Only math can do that. And eventually the system has to collapse. We are now reaching (again) a point where this becomes painfully clear.

Up to 1971 the dollar was on the 'gold standard'. Originally this meant that dollar coins were minted from gold and the gold also represented the value of the money. This was later changed to a dollar being just a certificate for gold, but the value was still derived from the value of gold that was stashed in some vault.

After years of printing more and more money we are close to reaching a new standart. The copper (zink/steel) standard. The pure metal value of a 1 cent coin is already at 0.65 cent. Production costs are higher and there is not much room left until a cent coin will be worth more than a cent.

![canadamelt.jpg](https://cdn.steemitimages.com/DQmQwLih3tt7CGh3fn15aUaWefwGGHtimeGvoWUmU4P5K8S/canadamelt.jpg)
[source](https://coinweek.com/bullion-report/canada-melts-first-circulating-canadian-gold-coins/)

The euro is in a very similar situation. A 1 euro cent coin is also has a melt value of 0.72 euro cent. Just think about it! There has been printed so much money that we went from a gold standard all the way to backing our money in common metals. Small coins are no longer worth something because fiat, but because of the metals in them. Soon we can start paying in chunks of metal that are weighted again to find their value.

![wheelbarrow-wallet.png](https://cdn.steemitimages.com/DQmPkWKa1PLj6NhQkMPCrVyE5FmLU3vxR9MqDFk7ZEXTPcJ/wheelbarrow-wallet.png)
[source](https://lenpenzo.com/blog/id602-18-scary-things-you-didnt-know-about-inflation-and-hyperinflation.html)

Of course this will not happen. Small coins will just fade out of existence, and metal coins will be replaced by bills and digital dollars. Then more inflation can be created, but it shows how absurd our monetary system is. How long does it take to go from a copper to a paper standard? The time when the best use of bills is to wipe your ass with them? When you no longer count bills but weigh them. It has happened in history and will happen again. We are on the best way. My guess is that going from gold to copper takes way longer than from copper to paper.

![news.jpg](https://cdn.steemitimages.com/DQmQWKMoQeE5W6XBanLXEk99HEayawq9UQ3G5yJ6ZE5Mr5P/news.jpg)
[source](http://www.tesocollegealoet.sc.ug/politics-and-society/)
_Are you not worried about your money getting stolen??? No, I am worried about my wheel-cart getting stolen!_

👍 steem-ua, minnowsupport, msp-lovebot, zero-profit, freebornangel, msp-shanehug, curatorbot, frdem3dot0, freebornsociety, builderofcastles, inversionistam, reversed-bidbot, victorblock, johnvibes, dyrt88, greencmetaha

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@builderofcastles · Jan 25 '19

$0.02

Don't wipe your ass with dollar bills.  They are made of linin and so do not break down in the septic tank or the sewer system.  So they would clog up the drains.

But, in a few years, they WILL be cheaper than toilet paper.

The problem with fractional reserve lending is that it is THEFT.  However, it is THEFT that is done fractions of pennies at a time.  Compounded theft really takes a bite out of your life.

I have problems even telling people that banks do not have money to lend, that they make it up out of thin air.  All though it is documented, provable and right there in black and white, it goes against the word "lend" and how we were taught in school

👍 builderofcastles, frdem3dot0

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@freebornangel · Jan 25 '19

$0.03

The fed pays the treasury face value for coins.
Every dollar of coins you hold is a fed dollar in the treasury.

Keep working, stop paying.

👍 dustsweeper, frdem3dot0

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@hueso · Jan 31 '19

Cash will be eliminated altogether before dollar reaches paper standard.

Posted using [Partiko Android](https://steemit.com/@partiko-android)

👍 hueso

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@minnowsupport · Jan 25 '19

<p>Congratulations!  This post has been upvoted from the communal account, @minnowsupport, by frdem3dot0 from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows.  Please find us at the <a href="https://discord.gg/HYj4yvw"> Peace, Abundance, and Liberty Network (PALnet) Discord Channel</a>.  It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.</p> <p>If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=102530.639667%20VESTS">50SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=205303.639667%20VESTS">100SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=514303.639667%20VESTS">250SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=1025303.639667%20VESTS">500SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=2053030.639667%20VESTS">1000SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=10253030.639667%20VESTS">5000SP</a>. <br><strong>Be sure to leave at least 50SP undelegated on your account.</strong></p>

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@reversed-bidbot · Jan 25 '19

This post is promoted by @reversed-bidbot as an upvote lottery with a jackpot of 0.500 steem!

There are still up to 2500 tickets waiting to be distributed. 

 Tickets are distributed according to the value of your upvotes with a __multiplier of 1500.0__. 
__Upvote the post to participate and claim your tickets!__ 

Excluded from participation are: bidbots, autovoters.

The jackpot is paid in redfish_shares by @curatorbot, giving you lifetime upvotes while supporting the redfish community. Find more information [here](https://steemit.com/help/@frdem3dot0/redfish-booster-steem-bounty-resteem-this-post-to-win-the-bounty). 

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<center><a href="https://steemit.com/@reversed-bidbot"><img src="https://cdn.steemitimages.com/DQmTZXG16gQZsMbC5D1TXSXH7wxGKzk5anKPDyXPU7CNYzE/Screenshot%202018-09-16%2021.40.26.png"/></a></center>

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@steem-raffle · Feb 1 '19

I was called to perform a provably fair random drawing for @reversed-bidbot! 

There are a 264 tickets participating in this round. 
@inversionistam holds tickets number 0 - 7 
@curatorbot holds tickets number 8 - 32 
@freebornsociety holds tickets number 33 - 50 
@frdem3dot0 holds tickets number 51 - 74 
@johnvibes holds tickets number 75 - 75 
@reversed-bidbot holds tickets number 76 - 80 
@freebornangel holds tickets number 81 - 154 
@builderofcastles holds tickets number 155 - 165 
@zero-profit holds tickets number 166 - 262 
@victorblock holds tickets number 263 - 263 
The merkle root of the block in which this post will appear determines the winner.

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@steem-raffle · Feb 1 '19

The block in which the above post is included has a merkle root of b041205da2e415e4c5111e9b8a4c0857750500ce. 
To find the winner we: 
1. Convert the merkle root into base 10: 
 b041205da2e415e4c5111e9b8a4c0857750500ce = 1006234743558829409800917223499802456856021237966. 
2. Compute the residual after dividing by the number of tickets: 1006234743558829409800917223499802456856021237966 mod 264 = 214. 
3. This is the winning ticket, held by @zero-profit. 

 __Congratulations!__

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@steem-ua · Jan 28 '19

#### Hi @frdem3dot0!

Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your **UA** account score is currently 3.621 which ranks you at **#5730** across all Steem accounts.
Your rank has improved 8 places in the last three days (old rank 5738).

In our last Algorithmic Curation Round, consisting of 191 contributions, your post is ranked at **#129**.
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