Obama’s 2013 Budget Seeks Increased Flexibility for Coin Compositions

[madfranks]

http://news.coinupdate.com/obama-budget-seeks-increased-flexibility-for-coin-compositions-1217/

This one's different - rather than ordering a study, it directly authorizes coin composition changes by the Treasury Secretary, bypassing Congress altogether!



President Obama's recently submitted 2013 Budget includes a proposal to provide the United States Mint with greater flexibility in the material composition of circulating coins. Specifically, the Budget seeks to enable the Treasury Department to explore, analyze, and approve new, less expensive metals for all circulating coins.

Currently, the authority to establish the composition of coins rests with Congress. In December 2010, the Coin Modernization, Oversight, and Continuity Act of 2010 was signed into law, which provided the Secretary of the Treasury with the authority conduct research and development activities for alternative metallic coinage materials. Within a required report due to Congress by December 2012, the Secretary may make recommendations for changes to the composition for circulating coins, however any changes would still need to be accomplished through an act of Congress. By contrast, the proposal included in the 2013 Budget would bypass Congress and provide the Secretary with direct authority to alter coin compositions.

[osoab]

How does he bypass CONgress?

[vacuum]

Metalized plastic?

[chad]

tin, aluminum stuff like some european countries had pre euro.

[vacuum]

One real problem with this is that it makes coins less valuable as a currency. If the composition can be changed on a whim, that means all vending machines could become obsolete if the wrong choice was made. Then vending machine manufacturers might start making machines that don't accept coins at all.

[solid]

Try to 'bypass' a gold sovereign. You son of a bitch.

[JohnQPublic]

Accelerate nickel collecting.

[Twisted Titan]

always ask for 5 nickles when you get change.

Always ask for 5 rolls of nickles when you got to the bank

Always store them in a 50 CAL. ammo box


This the last gift you will EVER get from.the gubbermint....exploit it with absolute impunity

[letter_factory]

One real problem with this is that it makes coins less valuable as a currency. If the composition can be changed on a whim, that means all vending machines could become obsolete if the wrong choice was made. Then vending machine manufacturers might start making machines that don't accept coins at all.


maybe that's the idea....force people to start using their cell phones or credit/debit cards.

[Glass]

a couple things come to mind. Number 1 is weights and measures. AFAIK there are 2 and possibly more "groups" who abuse the control of weights and measures. They do this because they are theives. The bible tells us about 1 group and the other group are controlled by people who like the first group have... let me call them...... worship allegience issues.

Everywhere I look since the last couple years I see the abuse of weights and measures. For example. Meat pumped full of water to increase it's weight on the scales thus abusing weights and measures laws. Canned vegetables where water content increases to reduce the amount of vegetables you are getting for your money. Gasoline bowser measures also.

The other one is that Casino's have been using plastic tokens for ages. Seeing as the western world is entering the major casino gulag phase I see no reason not to expect bastardization of the currency through abuse of weights and measures just like we have seen else where.

[Twisted Titan]

What is a Gasoline browser?

[Awoke]

What's he want to do, put rubber in them?

[madfranks]

Accelerate nickel hoarding.

Fixed it for you. :)