Thursday, February 15, 2007

THIS IS ANOTHER DOUBLE YOUR MONEY STORY or DOUBLE YOUR PLEASURE, DOUBLE YOUR FUN


I wrote this essay last summer. Can't say I am not free with the financial advice. It seemed to fit today's topic.

Having rather erratic sleep habits I have seen a lot of get rich quick infomercials on all night TV. I’m happy to tell you I have great sales resistance and have not been purchasing real estate in Alabama or enrolling in seminars to be a day trader in the stock market. My impression is the person with the proposal is the one getting rich quick. Many people who are either desperate or motivated by greed are willing to send the dollar to the person who promises to tell how they got so rich. They got so rich having all those people send them a dollar!

I do propose what I believe to be a new, innovative proposal for doubling your money. It is not just for the desperate or for the upper 1% of the socio-economic class. Like Steven Covey teaches, this is a “Win-Win” deal. Both the governed and the government should profit.

Intermittently someone at the federal level proposes discontinuing the minting of pennies. Part of the problem is their seemingly insignificant value. This is usually met with resistance from the public. How would it affect making change? Recently I heard it costs the government 2 cents to mint a 1 cent penny. There are actually plenty of pennies “out there” but they do not circulate. People have them in a jar on their dresser, in the bottom of their purses or in piggy banks. When they are dropped, few will stoop to pick them up. I have to admit I used to do the same thing. I have even swept pennies up with a broom and thrown them away. Not anymore. I now believe you must respect money if you are to have any.

Here is my win-win proposal that would save mineral resources, maintain our established coinage and spread wealth among all socio-economic levels. The federal government should stop minting pennies and revalue the current penny to be worth 2 cents. That would put many coins back in circulation. It would double the wealth of almost every casual penny hoarder. It might even create a stir among coin collectors. Did you know a Kennedy silver dollar is worth more than a dollar now? When is the last time you have seen a 50 cent piece? It would make it more worthwhile to stop and pick up that penny on the sidewalk if it were worth two cents. It might bring back the gumball machine. They would double their profit.

The republican convention is coming to the Twin Cities in 2008. I’ll bet they would appreciate a new platform plank that would not divide this country. How about it politicians? How about it economists? Can we do this without negative impact on our economy?
Those late night TV infomercials could now be about investing in metal detectors. We could hunt for pennies. I think my mom would like this application of recycling

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