Trump says he has directed US Treasury to stop minting new pennies, citing rising cost

[ochotona]

We should have ditched pennies long ago. On the other hand, as inflation continues, we should bring back the $500 note... but they won't. They just want to abolish cash, right?

[yankees60]

We should have ditched pennies long ago. On the other hand, as inflation continues, we should bring back the $500 note... but they won't. They just want to abolish cash, right?

Way back in the mid-80s, I had our accounting department for our company do everything rounded. No pennies in our accounting! That was back when we did all the accounting by pencil, paper, and calculators. Big time savings by doing that.

[seajay]

We should have ditched pennies long ago. On the other hand, as inflation continues, we should bring back the $500 note... but they won't. They just want to abolish cash, right?

And dollar (de-dolarization), and now de-NATOization, CIA, FBI, overseas aid ... maybe next the Presidency? Trumpland with Trumpcoin and Trumpforce ... permanently headed by Trump, coz that's what Putin does and he likes Putin.

Have never see Europe so aligned, realization that the US, NATO, dollar cannot and should not be trusted. That's the problem with trust, takes a long time to build, so easily/quickly lost.

[yankees60]

We should have ditched pennies long ago. On the other hand, as inflation continues, we should bring back the $500 note... but they won't. They just want to abolish cash, right?

And dollar (de-dolarization), and now de-NATOization, CIA, FBI, overseas aid ... maybe next the Presidency? Trumpland with Trumpcoin and Trumpforce ... permanently headed by Trump, coz that's what Putin does and he likes Putin.

Have never see Europe so aligned, realization that the US, NATO, dollar cannot and should not be trusted. That's the problem with trust, takes a long time to build, so easily/quickly lost.

"Trumpland"

The logical next step? Renaming our country to that after renaming the Gulf of Mexico?

Frightening that we have a president (again) who is unqualified in every dimension in which you'd elect a president.

[yankees60]

We should have ditched pennies long ago. On the other hand, as inflation continues, we should bring back the $500 note... but they won't. They just want to abolish cash, right?

And dollar (de-dolarization), and now de-NATOization, CIA, FBI, overseas aid ... maybe next the Presidency? Trumpland with Trumpcoin and Trumpforce ... permanently headed by Trump, coz that's what Putin does and he likes Putin.

Have never see Europe so aligned, realization that the US, NATO, dollar cannot and should not be trusted. That's the problem with trust, takes a long time to build, so easily/quickly lost.

Following up on your theme:

https://larrykotlikoff.substack.com/p/b ... dium=email

Boycott America
The Likely Reaction to Trump's Selling Out Ukraine and Starting a Trade War
Larry Kotlikoff
Mar 02, 2025

President Trump and Vice President Vance had quite the day the other day — screaming at Volodymyr Zelensky because he wouldn’t grovel at their feat and, by extension, those of Vladimir Putin. Nor was Zelensky ready to agree to a Trumped-up peace deal without a real U.S. security guarantee. Trump’s claim that the presence of U.S. mining companies in Ukraine would keep Putin at bay was risible.

Zelensky told the duo (Why was Vance there? Did Trump need backup?) the obvious — you can’t bargain with Putin from a position of weakness and Ukraine’s sovereignty was not theirs to sell down the river. After losing so many and so much for so long, Zelensky wasn’t playing ball without understanding the end game.

As Trump became more and more apoplectic, claiming Putin had all the cards (The U.S. has no cards?), and wailing about WWIII, Zelensky got Trump to show his real hand — an end to U.S. support for Ukraine and an end to U.S. participation in NATO. In so doing, Trump killed the fantasy that his actions will differ from his words.

Vance’s nauseating display — ordering Zelensky to thank our country, which he’s already done a zillion times — will, hopefully, end J.D.’s political career. If any thanks were due it was thanks by Trump and Vance to the courageous people of Ukraine for holding back the Russian hoards. We are, as Zelensky pointed out, lucky to have an ocean separating us from Putin. That ocean includes an army of Ukrainians.

How Will European Leaders React?

Macron, Starmer, and other European leaders will stop crossing the pond to kiss our King’s ring and persuade him he’s being played by Putin. As Trump made clear in his Oval meltdown, he’s not persuadable — for a simple reason. He’s either a Russian agent or auditioning perfectly for the job.

The Europeans hold some $300 billion in frozen Russian assets. They’ll likely start using those assets to replace U.S. military aid to Ukraine as Trump withdrawals U.S. support — something he’s about to do. This should give Europe enough time to rearm, including, in the case of the UK and France, expanding their nuclear arsenals.

European leaders will also realize that full-scale trade war with the U.S. is imminent. Again, Trump has shown he’s good to his threats. And his threat is a 25 percent tariff on all European imports. The EU, Trump says, was created “to screw” the U.S. This is utter lunacy, but no matter. Europe will tariff U.S. imports at the same rate. It will also expand trade with China. But this isn’t the worst-case scenario. If Trump starts trading with Russia, as he’s apparently dying to do, Europe will impose sanctions if not a total embargo on U.S. trade.

How Will the European Public React?

Here’s a clue. Tesla’s sales are down 50 percent in Europe. Europeans, leaving aside the neo Nazis, have despised Trump for years. They’ve now come to despise his latest leading stooge — Elon Musk. The combination of the U.S. abandoning Ukraine, the U.S. abandoning NATO, and the U.S. imposing tariffs will surely lead to a spontaneous European boycott of American products. Canadians and Mexicans will boycott U.S. goods as well. So will hundreds of millions of other freedom-loving people across the globe. I’m old enough to have personally witnessed Europeans shouting Americans Go Home during Vietnam. It comes with Don’t buy American, don’t invest in America, don’t visit America, and don’t study in America.

Sure enough, the day after I published the first draft of this column, the NY Times reported that the renowned German violinist, Christian Tetzlaff, had decided to boycott the United States, cancelling 20 concerts. And The Financial Post reported that Canada Airlines was reducing flights to our country. In short, Boycott America is on. Tourism, by the way, accounts for over $2 trillion in U.S. exports. Yes, we are selling goods and services to foreigners while they are visiting our country, rather than sitting at home. But that matters not. How much will our trade deficit rise if, say, tourism drops in half? It will double.

How Will the American Public React?

If Trump’s words and deeds deliver what they should — revulsion for abandoning a courageous underdog attacked by a sociopath, revulsion for siding with Russia over Europe, revulsion for threatening our neighbors and allies, both economically and physically, revulsion for permitting a neo-Nazi to run our government, revulsion over voting against our allies at the UN, and revulsion for the high inflation and recession that a global trade war will produce, Trump’s likes will turn to dislikes. He might bear in mind the fate of Richard Nixon whose landslide victory was quickly followed by massive protest marches.

The Danger in the Vacuum

Without America’s nuclear shield, many European countries, including Ukraine, will seek to obtain nuclear weapons. In the short run, they will form plans to turn Russian nuclear reactors into dirty bombs. What about Taiwan? Watching the U.S. abandon Ukraine will likely lead Taiwan to lease itself, including its massive chip industry, to China. And China? It can help Trump isolate the U.S. by telling all its trading partners they have a choice. They can trade with China or they can trade with the U.S., but not both.

The Art of the Screwup

Trump is supposedly the great dealmaker. He was going to negotiate an end to North Korea’s nukes. How’d that work out? North Korea has more nukes than ever and we’re voting with it and Russia at the UN. As for Ukraine, Trump said he’d settle the conflict in a day. Right. Maybe he should send J.D. for his first visit to Ukraine and gauge the reception. Have him tour every capital in Europe for that matter. It will make great television.

Taking Financial Cover

The stock market hates uncertainty and will likely continue to tank. It fell 53 percent in the Great Recession even though GDP dropped by only 3 percent. It fell 50 percent when the Dot Com bubble burst. It fell by 86 percent in the Great Depression. The message here is that stocks aren’t safe. They aren’t safe long-term and they certainly aren’t safe short-term.

Consumer confidence is one measure of uncertainty. It just fell at its fastest pace in over three years. Inflation is also creeping up and is now expected to run at 6 percent over the next year. A higher mean comes with a higher variance, i.e., more risk.

Personally, my wife and I have moved out of stocks into long-term, inflation-indexed bonds, i.e., TIPS. 30-year TIPS are currently yielding 2.24 percent real. That’s quite high, historically speaking. But TIPS aren’t perfectly safe either. A crazy enough President might opt to default on federal debt.

One hedge against U.S. economic isolation as well as default on the national debt is buying foreign bonds. They obviously don’t bear U.S. default risk and will appreciate if, as I expect, the dollar begins to fall.

I’m also concerned about Musk’s access to our Social Security covered earnings records. Everyone should download their covered earnings histories so they have proof of what they are owed. The just-announced mass firing of 7000 Social Security employees makes doing this even more important.

[ochotona]

Gold. That's the answer at the individual/family level

[seajay]

I can see international conventions being thrown out and independent developments of the likes of biological weapons - that some might opt to test in a isolated place such as central America.

Trump puts out many falsities, firmly declaring them as factual - despite fact-checked as being false, and the opinions of some of his redneck supporters are - pretty wild. Disarray and interesting times. But to be respected as what Americans overwhelmingly voted for.

[yankees60]

I can see international conventions being thrown out and independent developments of the likes of biological weapons - that some might opt to test in a isolated place such as central America.

Trump puts out many falsities, firmly declaring them as factual - despite fact-checked as being false, and the opinions of some of his redneck supporters are - pretty wild. Disarray and interesting times. But to be respected as what Americans overwhelmingly voted for.

"But to be respected as what Americans overwhelmingly voted for."

See the lies of Trump and his minions have even affected you!!!

NOT overwhelmingly.

He did not even win a majority of the vote (putting aside those who were eligible to vote but did not vote).

Trumpland is always trumpeting this mandate that Americans gave in last year's election.

He only won over Harris by about 1.5%. He was at 49.9% while Harris was at 48.3%. Obviously, if only 0.8% had changed their vote it would have been a tie! HARDLY overwhelmingly!

The Republicans say that the American people have given a mandate so that it is ALL the Trump / Republican way with no heed to those who did not vote for him.

If you were the owner / president of a hundred person organization and 51 people voted one way while 49 voted the other way ... would you then never give any heed to the concerns of the 49, only doing what the 51 wanted?

Of course not! That'd be no way to run any organization. But in Trumpland that IS the way!

[yankees60]

481231800_10236612992690305_3291994046697851897_n.jpg (96.1 KiB) Viewed 1946 times

[seajay]

I can see international conventions being thrown out and independent developments of the likes of biological weapons - that some might opt to test in a isolated place such as central America.

Trump puts out many falsities, firmly declaring them as factual - despite fact-checked as being false, and the opinions of some of his redneck supporters are - pretty wild. Disarray and interesting times. But to be respected as what Americans overwhelmingly voted for.

"But to be respected as what Americans overwhelmingly voted for."

See the lies of Trump and his minions have even affected you!!!

NOT overwhelmingly.

He did not even win a majority of the vote (putting aside those who were eligible to vote but did not vote).

Trumpland is always trumpeting this mandate that Americans gave in last year's election.

He only won over Harris by about 1.5%. He was at 49.9% while Harris was at 48.3%. Obviously, if only 0.8% had changed their vote it would have been a tie! HARDLY overwhelmingly!

The Republicans say that the American people have given a mandate so that it is ALL the Trump / Republican way with no heed to those who did not vote for him.

If you were the owner / president of a hundred person organization and 51 people voted one way while 49 voted the other way ... would you then never give any heed to the concerns of the 49, only doing what the 51 wanted?

Of course not! That'd be no way to run any organization. But in Trumpland that IS the way!

That's democracy for you. It's the same here in the UK, Labour are in government with a massive dictatorial government majority despite just 14% of the population having voted for them.

[dualstow]

It's funny how people are still tripping over themselves when Trump gets fact-checked. I don't mean you, Seajay, but the media. He should continue to be called out on falsities, and of course it's their job to report it, but it should be acknowledged that most people know that's how Trump operaates. Just one of the many tactics he learned from Roy Cohn.

I think 'redneck' is becoming antiquated as it's unfairly characterizing the south. (Maybe that's just this northerner's take, but I do recommend the Thomas Sowell chapter (or video) on how redneck culture came from the British Isles. It's fascinationg. Maybe I'll add a link later).

If we take "redneck" to just mean uneducated, unworldly:
51% is not overwhelming, but it's too large a figure to focus on rednecks, unless one thinks the U.S. is at least 51% redneck. It would be like focusting on the lowest educational/intellectual rung of Tommy Robinson supporters.

I know a lot of people who voted for Trump and none of them are uneducated or even without a college degree. It's time to admit that they know he repeats things that aren't true, but that they were so disppointed with Biden and the Democrats that they voted Republican. You have to pick _someone_. And voting for a candidate doesn't mean one supports 100% of their positions on issues, let alone swallowing everything they say.

[yankees60]

It's funny how people are still tripping over themselves when Trump gets fact-checked. I don't mean you, Seajay, but the media. He should continue to be called out on falsities, and of course it's their job to report it, but it should be acknowledged that most people know that's how Trump operaates. Just one of the many tactics he learned from Roy Cohn.

I think 'redneck' is becoming antiquated as it's unfairly characterizing the south. (Maybe that's just this northerner's take, but I do recommend the Thomas Sowell chapter (or video) on how redneck culture came from the British Isles. It's fascinationg. Maybe I'll add a link later).

If we take "redneck" to just mean uneducated, unworldly:
51% is not overwhelming, but it's too large a figure to focus on rednecks, unless one thinks the U.S. is at least 51% redneck. It would be like focusting on the lowest educational/intellectual rung of Tommy Robinson supporters.

I know a lot of people who voted for Trump and none of them are uneducated or even without a college degree. It's time to admit that they know he repeats things that aren't true, but that they were so disppointed with Biden and the Democrats that they voted Republican. You have to pick _someone_. And voting for a candidate doesn't mean one supports 100% of their positions on issues, let alone swallowing everything they say.

As usual you speak many truths.

1) I'm a trusting person. I'm going to trust you until I catch you in a lie then you've lost my trust for you and you will never get the benefit of the doubt. How can you.

Trump is sui generis when it comes to outright lies as a politician. That is just one of the many reasons why I think he is completely unqualified for the position.

2) I also know many people who voted for Trump. People who I value and who I consider good people.

3) I understand that many are not enamored with all things Trump and were as anti-Biden / anything liberal / Democrat as is the other side.

4) But I continue to be astounded that one can support Trump every time I hear him say anything. Heard it all last night plus this morning on C-Span heard callers calling in both supporting and condemning him and they today on CNN / MSNBC Republican politicians supporting him. He just commits way too many leadership sins for me to believe he should be president. NOT a leader! Possesses why too many negative leadership qualities. I'd quite my job if I ever had a boss like him.

[dualstow]

As usual you speak many truths.

1) I'm a trusting person. I'm going to trust you until I catch you in a lie then you've lost my trust for you and you will never get the benefit of the doubt. How can you.
..

Should I be nervous? Ohhhh, this second ‘you’ means anyone in general. Whew.
Still nervous, though.

Here’s the British Isle Redneck Link! (Sowell)

[yankees60]

As usual you speak many truths.

1) I'm a trusting person. I'm going to trust you until I catch you in a lie then you've lost my trust for you and you will never get the benefit of the doubt. How can you.
..

Should I be nervous? Ohhhh, this second ‘you’ means anyone in general. Whew.
Still nervous, though.

Here’s the British Isle Redneck Link! (Sowell)

"this second ‘you’ means anyone in general."

Exactly!

[yankees60]

It's funny how people are still tripping over themselves when Trump gets fact-checked. I don't mean you, Seajay, but the media. He should continue to be called out on falsities, and of course it's their job to report it, but it should be acknowledged that most people know that's how Trump operaates. Just one of the many tactics he learned from Roy Cohn.

I think 'redneck' is becoming antiquated as it's unfairly characterizing the south. (Maybe that's just this northerner's take, but I do recommend the Thomas Sowell chapter (or video) on how redneck culture came from the British Isles. It's fascinationg. Maybe I'll add a link later).

If we take "redneck" to just mean uneducated, unworldly:
51% is not overwhelming, but it's too large a figure to focus on rednecks, unless one thinks the U.S. is at least 51% redneck. It would be like focusting on the lowest educational/intellectual rung of Tommy Robinson supporters.

I know a lot of people who voted for Trump and none of them are uneducated or even without a college degree. It's time to admit that they know he repeats things that aren't true, but that they were so disppointed with Biden and the Democrats that they voted Republican. You have to pick _someone_. And voting for a candidate doesn't mean one supports 100% of their positions on issues, let alone swallowing everything they say.

Many were alive when the following happened but probably not old enough to be aware of it when it happened.

In 1960 Eisenhower had vehemently denied that we were spying on Russia.

Then on MayDay, May 1, 1960, Russia shot down Gary Powers's spy plane and captured him.

The country was aghast that a President could so blatantly lie to the country.

For all our presidents but one that's been the standards that all have been held to. I don't think that that many presidents who were caught in a lie like Eisenhower was.

Now we have this:

"He should continue to be called out on falsities, and of course it's their job to report it, but it should be acknowledged that most people know that's how Trump operaates. Just one of the many tactics he learned from Roy Cohn. "

"It's time to admit that they know he repeats things that aren't true, "

How is it that our country's standards have been so lowered by one person that he has single handedly normalized each blatantly stating lies?

In what other aspect of life do people accept lies as a routine part of life? With your friends? With your relatives? With your family? With your coworkers? With you bosses? With your subordinates? ????????????????????

If you are aceepting these blantant lies how can you trust anything where you are solely on that person speaking on a matter in which only that person knows whether the person is speaking a truth or a lie.

As I stated ... I catch you in one lie to me ... then you are forever not trusted. You will NEVER get the benefit of the doubt. I have caught you in one lie. That tells me you are capable of telling lies to me. It happened once it can well happen again.

[ochotona]

I just don't get "you should take him seriously not literally... that's the problem with you people with TDS".

I don't have any kind of relationship in my life where I apply those rules of the road. Never did, never will.

If someone points a gun at you - "aw, he didn't mean it like that!"
if someone gives you the finger - "aw, he didn't mean it like that!"
if a manager at work screams at you and threatens to fire you - "aw, he didn't mean it like that!"
if you have a lawsuit filed against you - "aw, he didn't mean it like that, it's just a negotiating tactic!"

That excuses every utterance, every threat, it's the very definition of gaslighting.

"The party told you to reject the evidence of your eyes and ears. It was their final, most essential command. His heart sank as he thought of the enormous power arrayed against him, the ease with which any Party intellectual would overthrow him in debate, the subtle arguments which he would not be able to understand, much less answer. And yet he was in the right! They were wrong and he was right." - 1984

I flipped out over Bill Clinton and Monica Lewinsky. Those were small potatoes compared to today.

[dualstow]

How is it that our country's standards have been so lowered by one person that he has single handedly normalized each blatantly stating lies?

In what other aspect of life do people accept lies as a routine part of life? With your friends? With your relatives? With your family? With your coworkers? With you bosses? With your subordinates? ????????????????????

Well, with your family, you can always punch them in the face. Or cut them off, whatever is appropriate.
Even if you don’t “accept” a politician lying, exactly what are you supposed to do about it?

I always tell my friends, “If you’re not an activist, all your grumbling is accomplishing nothing.”
(and so far, they haven’t punched me in the face).

[yankees60]

How is it that our country's standards have been so lowered by one person that he has single handedly normalized each blatantly stating lies?

In what other aspect of life do people accept lies as a routine part of life? With your friends? With your relatives? With your family? With your coworkers? With you bosses? With your subordinates? ????????????????????

Well, with your family, you can always punch them in the face. Or cut them off, whatever is appropriate.
Even if you don’t “accept” a politician lying, exactly what are you supposed to do about it?

I always tell my friends, “If you’re not an activist, all your grumbling is accomplishing nothing.”
(and so far, they haven’t punched me in the face).

"Even if you don’t “accept” a politician lying, exactly what are you supposed to do about it?"

Certainly NEVER voting for said politician to lessen the possibilities of said politician ever being in office!

[seajay]

I was saddened to see the former assassination attempts upon Trump. Now after he's withdrawn intelligence sharing support for Ukraine that Russia is exploiting massively to kill Ukrainian women/children I'm starting to regret that the attempts weren't successful.

[dualstow]

Certainly NEVER voting for said politician to lessen the possibilities of said politician ever being in office!

And who exactly was the non-liar in the last U.S. presidential election

[dualstow]

I was saddened to see the former assassination attempts upon Trump. Now after he's withdrawn intelligence sharing support for Ukraine that Russia is exploiting massively to kill Ukrainian women/children I'm starting to regret that the attempts weren't successful.

It’s funny- I’ve seen the same bloodlust in some of my own in-person friends, but as much as my conservative-leaning friends despised Biden, thought he was destroying the country, I never heard any wishes for physical harm. I guess it’s a disease of the Left.

Added: I realize that you have a lot of company, though.

[yankees60]

Certainly NEVER voting for said politician to lessen the possibilities of said politician ever being in office!

And who exactly was the non-liar in the last U.S. presidential election

Point out any blatant lies that Harris made.

Trump is unprecedented in black and white blatant lies.

Let's just isolate it to the one debate that they had and count how many blatant, easily refutable lies each spoke. We should do the same for the sole Trump / Biden debate.

We can each give one another $5 for each blatant lie that was spoken. You give me $5 for each of Trump's and I give you $5 for each of Biden's / Harris's.

I hold Biden to be a person of low integrity, who I don't trust, who tells mistruths. But he's in elementary school in this category compared to Trump post-doctoral work in this area.

In the School of Blatant Politician Lies ... Trump is Tom Brady / Wayne Gretsky / Babe Ruth / LeBron James ... all rolled into one!

[yankees60]

I was saddened to see the former assassination attempts upon Trump. Now after he's withdrawn intelligence sharing support for Ukraine that Russia is exploiting massively to kill Ukrainian women/children I'm starting to regret that the attempts weren't successful.

It’s funny- I’ve seen the same bloodlust in some of my own in-person friends, but as much as my conservative-leaning friends despised Biden, thought he was destroying the country, I never heard any wishes for physical harm. I guess it’s a disease of the Left.

Added: I realize that you have a lot of company, though.

"but as much as my conservative-leaning friends despised Biden, thought he was destroying the country, I never heard any wishes for physical harm."

Maybe not but you must have closed your ears to many other vicious desires of Trump supporters.

[dualstow]

Vin, why are you bolding and then requoting?

Well, certainly I’ve seen nasty comments from Trump supporters on social media. Plenty. Seajay would be pleasant company, and they would not. No doubt.

[seajay]

I was saddened to see the former assassination attempts upon Trump. Now after he's withdrawn intelligence sharing support for Ukraine that Russia is exploiting massively to kill Ukrainian women/children I'm starting to regret that the attempts weren't successful.

It’s funny- I’ve seen the same bloodlust in some of my own in-person friends, but as much as my conservative-leaning friends despised Biden, thought he was destroying the country, I never heard any wishes for physical harm. I guess it’s a disease of the Left.

Added: I realize that you have a lot of company, though.

Don't wish anyone dead. Rather had he died then Putin may very well not have taken Trumps green light to blitz Ukrainian citizens with drones/missiles in the manner he has over the last day/two.

At least 25 people have died in Ukraine in the latest wave of Russian strikes. One attack on Donetsk Region killed least 11 people and wounded 40, including six children. Homes were hit in other regions, including Kharkiv and Odesa.