Here’s a nice reminder from the Mogambo Guru on why it’s smart to hoard a bit of precious metal: because our worthless, corrupt politicians will continue to print paper money until it is as worthless as they are!
Junior Mogambo Ranger (JMR) Phil S. sent an article from the Globe and Mail where I learned that inflation in Canada has been so persistently corrosive over the years that, like in America, “it now costs the Royal Canadian Mint more than a penny to make a penny, and because of penny ‘hoarding’ by Canadians, the mint has to keep making more.” Hahaha! “Hoarding”? Hahahaha!
Well, the facts seem to be that, like in America, inflation has so corroded the buying power of Canadian money that it costs one and one-half Canadian pennies to make a Canadian penny, which makes Beverley Lepine, the mint’s chief operating officer, say, “So we are into a negative situation on every penny.”
I don’t know why she seems so surprised, as this is exactly what must happen when the buying power of the currency constantly falls and falls, and so if you see Ms. Lepine, tell her I said, “Hahaha! What did you think was going to happen, you moron?” Hahahaha!