Quote:(CNN)Masks were the first to go. Then toilet paper flew off shelves. And while Americans are being nickel-and-dimed with coronavirus-related costs in a shaky economy, the latest national shortage includes, well, nickels and dimes.

There's a coin shortage in the US.

"What's happened is that, with the partial closure of the economy, the flow of coins through the economy has gotten all — it's kind of stopped," Federal Reserve chairman Jerome Powell said during a virtual hearing with the House Financial Services Committee on Wednesday.

That's because the supply chain that coins usually flow through has been interrupted during the pandemic, Powell said.
Banks and businesses have shuttered or changed the way they operate. And so there are fewer coins reaching the public.

"The places where you go to give your coins, and get credit at the store and get cash — you know, folding money — those have not been working. Stores have been closed," he said. "So the whole system has kind of, had come to a stop."

Quote:"It was actually a shock,” said Mike Beal, chief financial officer for Balls Foods.

“You don’t expect to get an email saying the government has run out of coin or that there’s a very low inventory.

He’s never seen that issue before and it left him wondering what they do.

“It puts a pretty big crimp in your business,” Beal said. The company buys an average of $17,000 in quarters a week. With the rationing, it will be limited to only $480 in quarters, he said.

Quote:FORT SMITH, Ark. — The Federal Reserve says the coronavirus pandemic has resulted in a national coin shortage.

First National Bank will pay a 2% premium on all U.S. coins brought to any of their branch locations.

First National Bank writes, “Get out your stash, look under your couch cushions, crack open those piggy banks and bring all of your coin to earn an extra 2%.”

(06-28-2020, 01:34 PM)TheRedneck Wrote: I also think maybe people are going to start figuring out why shutting down an economy is not a smart move, no matter the reason. The economy is a vibrant, living thing that grows to adapt to whatever the conditions are at the moment. It cannot be micromanaged, any more than one can micromanage blood chemistry. One change here can affect 100 things over there in very bad ways.

(06-28-2020, 02:07 PM)Snarl Wrote:

(06-28-2020, 01:34 PM)TheRedneck Wrote: I also think maybe people are going to start figuring out why shutting down an economy is not a smart move, no matter the reason. The economy is a vibrant, living thing that grows to adapt to whatever the conditions are at the moment. It cannot be micromanaged, any more than one can micromanage blood chemistry. One change here can affect 100 things over there in very bad ways.

Everything that can be changed is being changed.  There may be a nationwide coin shortage, but we're all about to see a lot of change.

Your wisdom is a beacon on the boards.

(06-28-2020, 03:01 PM)TheRedneck Wrote: We ain't seen nothing yet,

It's been less than 6 short months since I first heard of the WuFlu/King Flu/Democrat virus. In that minuscule amount of time, we have seen:



Entire industries shut down by law for public safety.

Public safety laws passed by executives only, with no legislative input even.

National shortages on everything from beef products to toilet paper to hand sanitizer to now coins.

Our deficit exploding under the weight of a closed economy.

People literally held hostage in their states and not allowed to leave.

Travel restrictions between states.

Medical clinics closing their doors to sick people.

Nationwide calls to end police protection.

Continual riots driving police form their own precincts.

Cities taken over by armed gangs of thugs.

Spiking crime rates.

Police fired and charged with murder over self-defense.

The illegal destruction of historical monuments, often with official support.

Denial of the right to protest based solely on the cause protested.

Denial of religious freedom.

A serious candidate for President with advanced dementia.



Out here, little has changed... so far. The sun still rises in the right place at the right time, grass still grows way too fast, rain still falls to make the crops grow, people still shake hands and talk politely to each other. But I have been around the block enough times to know that will not continue. The insanity will come here as well, and will be welcomed with open arms. I have installed working locks on my doors for the first time in 30 years. I recently renewed my CCW permit after 35 years. I am considering installing CCTV stations around the place. I am actively purchasing a few new firearms and ammunition along. And I am not alone: the sheriff's department here has literally put in an express lane for CCW permits to handle the overload. I would imagine there are hound dogs in this county who are packing heat now.

People are readying themselves. That's a good thing. We ain't seen nothing yet.

TheRedneck