Saturday, December 29, 2007

In God We Trust

...from our friend John H:

"Actually a move by congress that slightly FAVORS Judaism/Christianity !!"

New law orders 'hidden' edge motto put in prominent place

The words "In God We Trust" have been placed in prominent display on U.S. coinage since 1864, until a new $1 coin series honoring U.S. presidents was introduced at the beginning of 2007, when the motto was concealed on the edge. But no more.

Congress has approved a consolidated spending bill, and President Bush has signed it into law, that includes a provision for the motto to be placed on either the front or back of new coins in the series.


Bike Bubba said...

We ought to be careful about this. Those who advocate real money (aurum and argentum) like myself would point out that there is a not too subtle deceit in coloring a base metal coin as gold, and that thus putting "In God we Trust" on it really amounts to at least a mild blasphemy.

Put differently, if we're really trusting in God for our very money, why are we trusting the Federal Reserve instead of the supply of gold He created?

TraderJohn said...

Why might the new dollar be a COIN ?

Because it buys about as much as a quarter(25cents) bought in 1980, and its real value will be halved in 7 to 15 years, as has historically been the case since the 60s.

That is how silly our pennies are today. In 1980 oould you imagine carrying around a 1/4 cent piece !
Our pennies today buy the same a 1/4 of a cent in 1980.

Welcome to the era of the great inflation, friends and comrades. The inflation train rolls along and must drive faster and faster as the gov't spends at a deficit and prints its way to paper prosperity to gain incumbant votes for today at tommorrow's expense.

Some year pretty soon, the penny and nickel will likely cease to exist,as prices rise even faster, than the current actual 6-7% inflation rate (as noted by the great sage Steven Leuthold)

Kermit said...

Why I remember buying candy bars for a nickel. A nickel, dagnabit! Course they wasn't very good candy bars...

Bike Bubba said...

Neither are they today, Kermit. :^) To get "good," plan on spending at least a buck or two for something from "Lindt" or "Scharrfen-Berger."

I admit it. I'm a chocolate snob as well as a gold bug. :^)