I haven't been on much today. How's it been?
Seems a little less shilly than normal but I just got here.
Yeah, I noticed that earlier. Bunch of new bakers or shenanigans?
Time will tell I guess.
I briefly scanned the notables and didn't see anything about it but has anyone noticed a new tactic the media seems to be pushing about a shortage of coins? I had't heard anything about it but was at a fast food place earlier this evening and they had a little note at the register about it so I did a little digging. Seems they are blaming the rona for a coin shortage, quite a few articles came up.
You mean why are they doing it?
Not sure. I just skimmed and took a look at how many articles there were. The usual suspects though, CNN et al.
Another consequence of the pandemic: a nationwide shortage of coins
(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."
https://www.cnn.com/2020/06/18/us/us-coin-shortage-coronavirus-trnd/index.html
Hang on to your nickels and dimes, the pandemic has created a coin shortage
Here’s a new crisis the coronavirus pandemic is responsible for: a nationwide shortage of quarters, dimes, nickels and pennies.
The economic shutdowns to stem the spread of the novel coronavirus, spurring the deepest recession in decades, have had the unintended consequence of halting the flow of coins through households, businesses and banks, the head of the Federal Reserve confirmed Wednesday.
As the economy ground to a halt earlier this year, “the flow of coins through the economy has gotten all — it’s kind of stopped,” Fed Chair Jerome H. Powell said in a Wednesday hearing before the House Financial Services Committee. Powell said the Fed has been working with the U.S. Mint and reserve banks to fix the temporary issue.
https://www.msn.com/en-us/news/us/hang-on-to-your-nickels-and-dimes-the-pandemic-has-created-a-coin-shortage/ar-BB15CQW2
The US is facing a coin shortage — and it's forcing the Federal Reserve to take the unusual step of rationing its distribution
Fed Chair Powell said there was a shortage of coins in the US, but the Fed was working to fix it.
"What's happened is that with the partial closure of the economy, the flow of coins through the economy … it's kind of stopped," Powell told lawmakers on Wednesday.
He said the shortage was partly due to mass business closures that disrupted the flow of coinage across the economy, as well as a lack of places open where people could trade their coins for bills.
Powell said the problem would be temporary.
Visit Business Insider's homepage for more stories.
Among the unexpected turns from the pandemic: a shortage of coins across the US.
Federal Reserve Chair Jerome Powell told lawmakers on Wednesday that the circulation of coins across the US economy ground to a halt due to the pandemic.
"What's happened is that with the partial closure of the economy, the flow of coins through the economy … it's kind of stopped," Powell told lawmakers. He said the shortage was due to the mass business closures that prevented people from spending their coins, as well as a lack of places that are open where people can trade coins for paper bills.
"We've been aware of it, we're working with the Mint to increase supply, we're working with the reserve banks to get the supply to where it needs to be," Powell said, adding he expected the problem to be temporary.
https://www.msn.com/en-us/money/markets/the-us-is-facing-a-coin-shortage-and-its-forcing-the-federal-reserve-to-take-the-unusual-step-of-rationing-its-distribution/ar-BB15CTjZ
Right, which is why it peaked my interest.
Maybe they are trying to create a coin panic so that people hold back all their coins, I don't know. They are up to something though.
Right, but by saying there is a shortage they may be trying to create an actual one. Or…..they are trying to get people to turn them in. Hmm. Most of our coins aren't worth shit anymore. Very little if any silver or nickel or copper. A lot of zinc though.
Coins anon.
It just seems odd at this particular point in time.