https://www.mint.ca/store/mint/about-the-mint/phasing-out-the-penny-6900002
**Phasing out the Penny **
Sometimes the indication of a failing economy happen much earlier on than we all suspect. Like in 2008 the whole thing actually collapsed without a 'bailout'. Too big too fail. Isn't that incredible? The people decided the banking system in all it's cruelty, is too big to fail. In actuality it was the lords basically lording..
It's hard for people to admit this. There are ruling classes of people. In the good times, or the roaring 20's we ignore everything around us. The 'red' pilled know but are very uncomfortable spouting the truth. Cognitive dissonance is a thing, and it flooded reality in the west.
"In Economic Action Plan 2012, the Government announced it would phase out the penny from Canada's coinage system. The decision to phase out the penny was due to its excessive and rising cost of production relative to face value, the increased accumulation of pennies by Canadians in their households, environmental considerations, and the significant handling costs the penny imposes on retailers, financial institutions and the economy in general.
The estimated savings for taxpayers from phasing out the penny is $11 million a year" - in 2012
So let's get this straight even we continued to have the penny in 2021 the costs would be much higher because the actual copper, mining, and coinage costs were too much. Luckily we have electronic transactions! Oh but there will be better ones to come. The CBDC (Central Bank Digital Currency) is supposedly going to be even more brilliant.
Important Dates
To help consumers, businesses, charities and financial institutions to plan, a transition date of February 4, 2013 has been set after which the Royal Canadian Mint will no longer distribute pennies.
On this date, businesses will be encouraged to begin rounding cash transactions.
Rounding Guidelines
As pennies exit circulation, cash payments or transactions only will need to be rounded, either up or down, to the nearest five-cent increment.
- Most of the time they round up
The Government of Canada will be adopting a rounding guideline that has been used successfully by other countries for its cash transactions with the public.
Under this guideline, when pennies are not available, cash transactions will be rounded in a fair and transparent manner, as illustrated below:
So without rounding up we have crypto's! Interest and payments can go past that negative mark! Anyways, the way things are unwinding who knows if we will even get to CBDC's.. a financial planner did say Central Bankers are extremely stupid.
So next time a person hangs around a Discord's airdrop channel (for the promotion of whatever token), just remember..
When they say they are too poor to buy your token.. but not honest enough to just say they are hanging around for free coins..
Well..
Paid for sex get's a lot more 'expensive' as the money is diluted and you need more of it to live. That's during the melt up phase!
Melting down, or deflation.. well things get a lot cheaper!
So just remember.. you can buy M00N tokens for less than a penny.
The Dangers of a Stock Market Melt-Up - The New York Times
nytimes.com
So at least go with the fun stuff and you can buy cheap #LVL tokens for less than a penny. We aren't talking a melt-up in #LVL. We are talking m00ning! Different thing all-together! Next time you hang around and leach on a discord.. at least to pretend to buy said token. Your presence might be tolerated a lot more. Yes scammers and leeches exist! I was a STEEM leech no doubt about it. I was just a little more 'engaged' and proved to be the better kind of leech. I'm one that gives back into the system.
Yes it won't make you rich and at this point without playing the game we are speculating. But I never thought of the less then penny stocks until crypto came along! #LVL has about 4x helping me to make the -4x purchases I have made some what even out. The difference between the two of them? I rarely sell in either case. I'll take my +x4 and -4x in HIVE.
So here's more speculation hype to keep the chart M00Ning. It's fun for me and I honestly do not care at this point what happens. I would ultimately like to see an amazing playable game where I can rent out my NFT's and make passive income. That would be really amazing!
We are used to projects failing, sooning, wenning, and mooning. Go #PSYBERX! Just don't be a complete leech!