Why does Sup Forums never discuss monetary policy anymore?
Central banks are the number one reason for the massive economic decline and poverty of the last 40+ years and Sup Forums just conveniently ignore them now.
Hmmm.....
Federal Reserve
Jace Reyes
Other urls found in this thread:
youtube.com
youtube.com
youtube.com
youtube.com
youtube.com
youtube.com
youtube.com
youtu.be
youtube.com
youtube.com
youtube.com
neweconomicperspectives.org
en.wikipedia.org
youtube.com
zerohedge.com
twitter.com
Juan Perez
>Central banks are the number one reason for the massive economic decline and poverty of the last 40+ years and Sup Forums just conveniently ignore them now.
because Sup Forums's opinions on monetary policy are retarded, just like yours
Jonathan Sullivan
>because Sup Forums's opinions on monetary policy are retarded, just like yours
>I enjoy having my living standards decrease every year
>I enjoy massive housing bubbles so millennials can never afford to buy houses
>I enjoy having zero savings rate
>I enjoy not being able to retire
>I enjoy extremely low levels of economic growth
Yeah, you're a tool.
Nolan Thomas
so much with this post holy hell
1. living standards dont decrease every year they go up, look at gdp or nay other similar well being index- bigger houses, larger cars, better healthcare, more education etc etc etcn etc etc etc etc etc
2.hardly caused by the fed, although they were the part. Youa re ignoring huge political pressures on abnks to lend to poor folks, corruption in mortgage rating agencies, large banks etc.
3. not the fault of the fed, interest rate is low globally among western countries, i9n fact its lower in the EU
4.maybe that means u shouldnt hold your money in a freaking savings account? not like the stock market didnt just have the largest rally in human history, owait that was a bubble in 2010,2011,2012,2013,2014,2015,2016 but it is going to pop any moment now
5. u do know money is neutral in the long run right? central banks have no effects on long term growth
but yeah I am a tool because I actually bother to look at the evidence and not 1st conspiracy theory i come across
Mason Nguyen
the teenagers that have flooded this place came here green without any further knowledge of the redpill
Jace Harris
Sorry bruh the jooish influenced youngsters have fucking infiltrated this place
Joshua Ortiz
>living standards dont decrease every year they go up
Yes, because our generation is CLEARLY doing much better than our parents generation.
>look at gdp
AHHAHAHA
Holy fuck you actually think GDP is a good measure of economic growth.
>bigger houses, larger cars, better healthcare, more education
Literally much more expensive versions of all of these where the average person can barely afford them.
idiot
>hardly caused by the fed
The fed blew the housing bubble in the first place. Everyone on here knows about this.
Without the fed, these banks wouldn't have the money to continue the housing bubble ponzi scheme.
>Youa re ignoring huge political pressures on abnks to lend to poor folks
Hmm, I wonder who gave them the money to be able to do this in the first place? Also, lets pretend for a moment that the housing bubble could have gone on forever and that the money would have kept flowing. Lending to poor people in this imaginary situation would have been a GOOD thing for the poor.
>not the fault of the fed, interest rate is low globally among western countries
They LITERALLY set the interest rate. Central banks literally do this. If they raised interest rates all other banks would follow suit.
>maybe that means u shouldnt hold your money in a freaking savings account?
lmao people USED to be able to do this and get a good return for their money
Holy shit you're such a brainwashed bootlicker.
>central banks have no effects on long term growth
Their policies are stagnating economic growth.
>I actually bother to look at the evidence
Yet you're dead wrong on every single point.
Lol you actually think living standards have increased over the past 15 years.
AHAHHAHAHA
Thomas Brooks
^^^^^
Jacob Bell
Maybe you should read a book about economics, or housing bubble, or anything for that matter. You are just embarrassing yourself because you know next to nothing about what you are talking about.
Noah Ortiz
>Maybe you should read a book about economics
>get utterly BTFO with nonsense keynesian theories
>"r-r-read a b-book"
This is too funny.
Kevin King
Central banks are active since WW2. That's also the era of the greatest prosperity ever seen
What's even your argument?
Wyatt Bennett
>prosperity
Tyler Bailey
Yeah, prosperity. We do so much better than in the 1930s today, you can't even imagine it
Blake Flores
Greatest posperity of the late 40s and 50s wasnt due to central banks, Mehmet. It had much more to do with American economic empathy and its desire to see a global community of nations that are rebuilt and able to join in trade again without waiting decades for them to recollect themselves.
America is the reason for western europes current prosperity, dont you ever fucking forget that.
Jeremiah Morgan
>Central banks are active since WW2. That's also the era of the greatest prosperity ever seen
Yes we had the bretton woods system which was a partial gold standard. We had central banks yes but they were severely limited by the gold standard. They also didn't print that much.
This ALL ended in 1971 when nixon got usa off the gold standard and the rest of the world followed.
This is basically the reason everything is so shit today.
Want to know something else.
Back during the gilded age when america had a system of mostly free banking, economic growth levels were even higher than the post war boom. Prices went down every year while wages rose.
Dylan Wilson
because anything that doesn't fit into a narrow world view of Trump=good everything else=bad is ignored here.
Ryder Gomez
>Central banks are the number one reason for the massive economic decline and poverty of the last 40+ years and Sup Forums just conveniently ignore them now.
It's talked about in /nsg/ all the time, bud. Fiat currency, need for endless growth to pay interest, which justifies the rationale for replenishing the work force with foreign labor, etc etc
Jack Sullivan
>/nsg/
The one good thing hitler did it implement a sort of free market currency which lead to the nazi economic boom. He later fucked it up by going full keynesian. I guess he had to for the war, but whatever.
Owen Watson
fine ill bite, your ideas are painfully uninformed, even from an austrian perspective, i wasnt trying to make fun of you, its the truth
>Yes, because our generation is CLEARLY doing much better than our parents generation.
we clearly are, feel free to cite data on how we are worse
>Holy fuck you actually think GDP is a good measure of economic growth.
its a decent measure, the best we have feel free to cite better measure of economic growth
>The fed blew the housing bubble in the first place. Everyone on here knows about this.
Apparently not because every book about housing bubble i came across cited mu8ltiple causes of the crash, one of them being the fed
>Without the fed, these banks wouldn't have the money to continue the housing bubble ponzi scheme
the crash didnt happen because banks made too much bets, it happened because the banks were levereged to the point a 4% drop in housing market would make them illiquid to the point of not meeting their short term obligations. The main culp-rint of that was the goverment encouriging lending by eliminating the 20% down payment- now all homes bought 2004-2007 were worth much less than their bought value and people refused to pay the mortgage.If there was a 20% down payment the effect would be much less severe, but still there.
>They LITERALLY set the interest rate. Central banks literally do this.
yep, but they are constrained by so called natural rate of interest- if they deviate too much the money would be too easy- inflation, or too tight- deflation
>lmao people USED to be able to do this and get a good return for their money
yeah I dont know why u assume what was a good way to save in the past is good now. Banks have grown bigger and are much less reliant on savings accounts of their custumers to finance their payments.
>Their policies are stagnating economic growth.
hardly. Are u saying chinese central; bank is not on the stagnant growth policy? or maybe australian bank stagnates less amrit
Aaron Reyes
The US population was mostly poor as well, prior to the post-war boom, where all Western nations developed at a similar, rapid pace
Inflation was much higher in the 50-80s period than today, averaging at 5%. In the 70s, it reached numbers of up to 10% per year. So it's not as much of a problem as you make it up to be
Oliver Jenkins
>The one good thing hitler did
>one good thing
I'm going to ignore that - the central banking cartel will get its cronies to remove any regime which doesn't abide by their rules, or which refuses to use the USD as the standard currency for international trade. Gaddhafi is the most recent example of this. Most likely the removal of Saddam had something to do with this but i'm not as informed on that specific issue as others
Zachary Garcia
>fine ill bite, your ideas are painfully uninformed
Nah, you're just brainwashed.
>we clearly are
HAHAHAHA
GET A LOAD OF THIS FAGGOT
>unemployment
>the only jobs you can get are either part time or low paying jobs
Meanwhile during the 60s there were high paying jobs everywhere and boomers actually saved their money.
>its a decent measure
It's absolutely terrible, every time the government spends money the GDP goes up.
>one of them being the fed
Fed was the main one.
>it happened because the banks were levereged to the point a 4% drop in housing market would make them illiquid to the point of not meeting their short term obligations
Yes, and they needed a massive amount of money from the central bank to even be able to do this in the first place.
> if they deviate too much
They created these conditions in the first place. Of course if they change it now there are going to be massive consequences. They NEED to raise interest rates to allow the economy to collapse and restructure on sound footing.
>deflation
Oh no, lower prices for consumers? How horrible.
>yeah I dont know why u assume what was a good way to save in the past is good now
It fucking should be you gigantic idiot.
It's extremely difficult for the average person to save money thanks to the policies you support. Now the only way to get a decent return is to gamble in the stock market.
> and are much less reliant on savings accounts of their custumers to finance their payments.
This is an extremely bad scenario.
>hardly
Yes yes they do stagnate the economy.
>Are u saying chinese central; bank is not on the stagnant growth policy? or maybe australian bank stagnates less amrit
Literally all central banks do this.
China is the worse. If there was no chinese central bank. The yuan would rise dramatically and chinese citizens would be able to purchase the products they produce instead of sending them to fat americans.
Chase Gutierrez
>In the 70s, it reached numbers of up to 10% per year
Oh, you mean when the us government got off the gold standard.
Of COURSE there was inflation.
The problem is not simply the inflation it's the economic stagnation.
Stop being a cuck and defending central banking.
Colton Price
>(((Sup Forums)))
The sooner you realize we are the Jews now the sooner it will all make sense.
Adrian Campbell
The truth about immigration, by the numbers:
>youtube.com
Cultural Marxist Jews Admit Organizing White Genocide
The plan to eliminate the white race:
>youtube.com
Cultural Marxism in action… Political Correctness, the tip of the blade:
>youtube.com
Cultural Marxism & Social Justice Explained:
>youtube.com
Why are we in Decline - Cultural Marxism:
>youtube.com
also see
The facts about slavery in North America:
>youtube.com
Cultural Marxist Jews fund media propaganda against whites on an enormous scale:
>youtube.com
Does this sound familiar at all? (starting at 6:52)
>youtu.be
The Holocaust:
>youtube.com
James Reyes
OP here.
I have to leave now.
Have fun guys.
Ryan Scott
The real economy won't see any lasting improvement until at least one banker serves prison time.
I'm not holding my breath.
Jordan Sanchez
Inflation wasn't just higher than today in the 70s, it was higher in the 60s and 50s as well. That was the era of inflationary central bank policies, to create full employment.
Christian Robinson
>it was higher in the 60s and 50s as well.
It actually wasn't.
Also, during that period, economic growth was so high that the inflation didn't matter.
Americans actually saved back then.
It would have been even greater if they didn't have the bit of inflation they had in the 50s/60s.
>That was the era of inflationary central bank policies, to create full employment.
Yeah, it worked WONDERS in the 1970s with stagflation.
Why do you think low interest rate policies and QE are such massive failures today?
No wonder you're from Germany.
Brody Phillips
>It's absolutely terrible, every time the government spends money the GDP goes up.
Wrong
>Meanwhile during the 60s there were high paying jobs everywhere and boomers actually saved their money.
name 1 fucking datapoint this is the 3rd time I ask you. We are just going in fucking circles because you want to argue from your feelings
>They created these conditions in the first place. Of course if they change it now there are going to be massive consequences.
Fed keeps interest rates low, ECB keeps interest rates low SWiss central bank keeps interest rates low, swedish central bank keeps interest rates low. Countries of the 3rd world dont keep the interest rates low.... WAIT A MINUTE!! Do low interest rates have to do with falling returns on capital and lack of investing opprotunities compared to availability of credit ? no it cant be right it has to be a global conspiracy
>Oh no, lower prices for consumers? How horrible.
also lower wages/more unemployment.
>It's extremely difficult for the average person to save money thanks to the policies you support.
Also extremely cheap for an average person to get a loan compared to before.
>This is an extremely bad scenario.
why? do you want commercial banks to be susceptible to bank runs?
>Yes yes they do stagnate the economy.
gimme an economic study showing that central banks stagnate the economy
>China is the worse. If there was no chinese central bank
except china has been trying to increase the value of the falling yuan wub wub wuuuuuuuuuuuub, read a book try again
Connor Watson
They kept interest rates low under obama then raised them under Trump. The Fed is partisan and needs to go.
>glad I bought a house last year 2.85% fixed
Matthew Mitchell
they've wanted to raise them for a while, and considering markets reacted positively, I agree with you they shouldnt act so pro-trump
Nicholas Bell
I dunno what we're arguing about. You can easily look up 50s/60s inflation rates and compare them to today. They were higher and became massively higher in the 70s.
All of these decades still had high economic growth
Adam Young
>pro-trump
Gabriel Robinson
FUCK THOSE KIKES
Henry Sanders
well if the markets crashed because of interest rate increase they would be anti-trump, right?
oh wait they are actually apolitical and try to do whats best for the stability of the financial system
Caleb Garcia
I have to leave now so I'll answer the dumbest points you've made quickly.
>Wrong
TOP KEK
This fucking guy actually believes life for millennials is amazing and there are amazing high paying jobs everywhere and we're all homeowners.
So if everyone just brainwashed and people are actually doing much better than they were in the 50s/60s?
How disconnected from reality are you?
>Fed keeps interest rates low, ECB keeps interest rates low SWiss central bank keeps interest rates low, swedish central bank keeps interest rates low. Countries of the 3rd world dont keep the interest rates low.... WAIT A MINUTE!!
No fucking shit, they collaborate to make sure this happens.
>Do low interest rates have to do with falling returns on capital
Of course there's falling returns on capital in this environment. That's the fucking problem.
Raise interest rates so we can have a real economy again.
>also lower wages/more unemployment.
Empirically false. It's only true when the result of a previous inflationary boom.
During the gilded age wages rose while prices fell and unemployment stayed low. It was an extremely productive period in american history.
If we had a real naturally deflationary economy today living standards would rise every year instead of stagnating. You cuck.
>Also extremely cheap for an average person to get a loan compared to before.
LOL SO?
That's the problem. That's why housing prices are so expensive. These cheap mortgages. Also there's no point in starting a new business if you aren't going to make any profit.
People need savings to invest. People used to save their fucking money. Savings is a lifeblood of an economy.
>do you want commercial banks to be susceptible to bank runs?
No because fractional reserve banking is fraud and should be banned.
>gimme an economic study showing that central banks stagnate the economy
Look at the past 10 fucking years.
>wub wub wuuuuuuuuuuuub
LOL Found the re dditor
Landon Walker
Because moot created /biz/ for that, and all the Paultards got run out because they don't fucking know anything about anything, but now you fucking faggots are back shitting up this board with your chemtrail-Rothschild bullshit.
GROW A FUCKING BRAIN AND USE IT TO UNDERSTAND THIS VERY SIMPLE SHIT, YOU FUCKING IGNORANT RETARDS: neweconomicperspectives.org
Henry Watson
Because Sup Forums only talks about kikes, Trump, kek, pepes, and degeneracy now.
Josiah Moore
>During the gilded age wages rose while prices fell and unemployment stayed low
en.wikipedia.org
my god am i said I dont live in that age
>If we had a real naturally deflationary economy today living standards would rise every year instead of stagnating.
somebody cant differentiate between real and nominal variables
>That's the problem. That's why housing prices are so expensive. These cheap mortgages
anyway lets stop here you are a moron
Justin Watson
>Fed
>conspiracy theory
Not sure if shill or absolute mongoloid.
Camden Carter
jeez user, just read up on it a bit. There is alot of valid criticism of the fed, but everything they do is more or less in accordance with modern economic theory. There is nothing extraordinary they do.
Benjamin Butler
WATCH THIS VIDEO
Leo Johnson
>(((modern economic theory)))
Keynesian economics just destroys wealth and redistributes wealth to the elite, bankers, and politically-connected, at the expense of the common man and small business owner.
Liam Miller
monetary theory is hardly Keynesian, 90% of it predates keynes
Joseph Hall
>"every time the govt spends money the GDP goes up"
>Wrong
I'm studying GDP and monetary/fiscal policy in econ right now and you're a fucking goddamn moron. Government spending is literally one of the main categories of GDP.
>do you want commercial banks to be susceptible to bank runs
No, we want them out of the business of fractional reserve banking entirely.
Fractional reserve banking, by definition, is literally fraud but everyone just fundamentally ignores that because the monetary jew convinced them to buy into a giant scam. The whole reason they claim to NEED the fed as a bank of last resort to bail out other banks is because every bank WILL eventually fail under free market conditions. It's an iron clad law of econ that's hard-coded into the framework of the system itself. There is no possible scenario in which a bank that practices fractional reserve lending will not fail. It's only a matter of time. Does that sound like a sound business practice that deserves to be propped up by international cartels monopolies?
Brayden Richardson
seems like they are drawing conclusion wider than their evidence. Not all 1st world countries run budget deficits, for example. And they aren't really honest about inflation either. They know that constant inflation is neutral to anything but people who hold paper money
Colton Davis
cause its not "sexy enough to talk about feminists or throwing Trump Generals - when Trump is pro-Israel and fuckbuddy of Goldman Sachs
Julian Richardson
Th elites deserve wealth over the poor since they are smarter than poor. Poor people deserve to be poor
Brandon Reed
Because almost nobody here disagrees.
Grayson Foster
>I'm studying GDP and monetary/fiscal policy in econ right now and you're a fucking goddamn moron. Government spending is literally one of the main categories of GDP.
yes it is, you are 100% right but governemnt spending is for final sales of good and services, not whenever government spends money- food stamps etc. dont count.
>Fractional reserve banking, by definition, is literally fraud
so you should be able to repay all of your debts at any time? or are you saying that if you are not 100% sure u cant abide by the contract its fraud? im curious
Jordan Jenkins
Y = C+I+G+X-M
Levi Russell
eye opening formula
Dominic Robinson
>muh central banks
how long can you pussyfoot the JQ
John Hughes
I know right? It's some great stuff.
Hunter Morales
>Sup Forums
>Economics
No thank you.
Joshua Turner
Lmao those panics weren't the gilded age you gigantic idiot.
Isaac Perez
Up until recently when the banking system went full-rogue and started to declare that, by depositing money in an account, you are transferring ownership of that money to them and they are only obliged at their own discretion to give it back, the act of lending customers' deposits was (and should be) unlawful because they were lending property that didn't belong to them. According to contract law also, a contract in which one side puts up nothing is invalid. The bank doesn't have legal ownership of the money it's lending and can't enter into contact with a borrower using it.
Lending someone else's money is breach of contact law.
Leo Butler
>economic decline and poverty of the last 40+ years
More humans have been lifted OUT of poverty in the last 40 yrs than the rest of history combined
Jayden Wilson
>Lending someone else's money is breach of contact law.
obviously not lol
>the act of lending customers' deposits was (and should be) unlawful because they were lending property that didn't belong to them
sounds to me that u are argueing that banks shouldnt even serve as an intermidiary? and its not like custumers dont know what happens to their money in the bank.
>The bank doesn't have legal ownership of the money it's lending and can't enter into contact with a borrower using it.
so any intermediary is fraud?
>Up until recently when the banking system went full-rogue and started to declare that, by depositing money in an account
yet nothing changed, no personal savings account has not been paid out in the past 70? years
Camden Watson
Because, (((Sup Forums))) is about distracting people from the real issues.
Owen Morris
In spite of the Fed, not because of it.
Also, given the stated purpose for the Fed to even exist (namely to control interest rates, decide how much money to put into or take out of circulation, and issue loans to failing banks) which of those things even require the existence of a privately owned, completely unaccountable institution?
>Who made the money before the Fed came along?
Oh right, the Treasury Department.
>Who'd control interest rates if the Fed didn't exist?
If you absolutely have to, set up a branch of the Treasury department.
>Who'd bail out failing banks?
Let them fail. If you're worried about the deposits of the customers, let the Treasury offer insurance on deposits.
Why do we need a private, for-profit cartel running our country again?
Kayden Gonzalez
>completely unaccountable institution
uwotm8?
Leo Cox
ey you need your shill salary raised to 3 dollar a month
particularly persistent jewshill
i commend thee
Gabriel King
>Why do we need a private, for-profit cartel running our country again?
Brody Jackson
>yet nothing changed, no personal savings account has not been paid out in the past 70? years
That's true. The difference now is that banks make the claim that it's not even your money anymore once you deposit it. As of yet, they haven't acted on it.
>intermediary
Between whom? Presumably, notwithstanding any illegitimate TOS fineprint bullshit, the bank customer who deposited his 10,000 savings did not give explicit written permission to the bank to take 9,700 of that and use it to enter into contact with someone else. Nor did he transfer ownership of that money to the bank. The bank has no legal right to use customers' deposits as it's own capital.
Matthew Gray
You're an idiot - stop writing please...
zerohedge.com
Andrew Edwards
>Keynesian
>sustainable without cuts to all the programs during good times
literally the core of all the economic problems in the western world today
Levi Barnes
>In spite of the Fed, not because of it.
The very premise of OP is false.
the OP stated the Fed caused "massive economic decline" - that is not a observation backed up by the facts. The last 40 yrs have seen the greatest economic growth in the history of mankind....so the OP is a faggot.
Aaron Brooks
using this thread as an opportunity to let people know that "money from nothing inside the federal reserve" is a propaganda film and shouldn't be taken seriously.
Andrew Nguyen
>labor wages have been stagnating since the 70s, ever since (((Nixon))) took the dollar off the gold standard and started printing money like mad
>wealth gap has been massively increasing since the 70s, 40% of the 1%ers are jewish, that's almost every 2nd jew in the USA
>because jews run the Fed, print money for themself at the fed, loan it to each other for zero interest and prolong these credits infinitely; this is why all jews are rich or at the very least, well off and taken care off, while whitey and nignogs starve in the streets
>zero, ZERO oversight on where the money that the (((Fed))) prints goes; when a US senator tried to pass a bill that would allow congress to audit the Fed, Bernanke openly threatened 'this would crash the american economy' and the bill silently disappeared
Oh yes, the Federal Reserve and in Europe, the (((ECB))) need to be neutralized. They are a massive threat to national security and the people's sovereignty. Through the Fed and ECB the semites have taken over our governments like puppet masters. The big private bankers are mobsters, plain and simple, highly organized mobsters with infinite funding and direct access to military hardware and personel.
The only thing that WOULD end the Fed and the ECB is the plain and simple refusal to use their legal tender as a payment method. This would lead - at least temporarily - to total chaos and anarchy, but it's the only way.
Jacob Davis
>a monetary phenomena that makes money less valuable to creditors and more available to debtors is actually good for creditors
What did he mean by this
Brayden Gray
We're talking about in western nations, idiot.
Evan James
>strawman argument
Asher Brown
Why are you such an establishment shill?
kys
Chase Young
Because we have been infiltrated.
Austin Wright
We're talking about western nations
Not the rest of the world
Shit fucking sucks for millennials.
Are your actually denying this?
We have no future. You libshits are compulsive liars.
Colton Adams
>film portrays lyndon johnson as a good guy
>not a propaganda film?
k
Wyatt Campbell
That's not an opinion though, it's proven fact.
Charles Ramirez
>So it's not as much of a problem as you make it up to be
It's even worse actually, if you understand doubling time math and the fact that money has already hyper inflated over the last 30 years.
Juan Nguyen
...
Luis Powell
>Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve System. I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again. - Ben Bernake
and 2007 was of course just another case of the evil economy and not the fault of (central)bankers at all
Ryder Rogers
Oh
Maybe I'm thinking of another film
Lucas Anderson
Your lack of future is not the fault of the central bank, the central bank has been around for much longer then your perceived victim complex.
Dylan Hall
Because Sup Forums is retarded and does not knows who the secret end game bosses are.
"I have always been afraid of banks." - Andrew Jackson
Austin Powell
...
Thomas Lewis
The Jews won before the battle even started. Why bother?
Leo James
This is why Hitler had to be vilified and Gaddafi assassinated.
We need another Hitler to storm the Fed and seize the wealth of the nation back.
But in this day and age its near impossible for anyone to even think of challenging the global banking system
Grayson Jones
>The single greatest contributor to financial crises is the Federal Reserve manipulating interest rates in ways that distort the true price of capital.
Lincoln Rodriguez
You think they're stupid? No Hitler is ever going to get elected again. He wont even get to the point where he could raise a militant group of some sort.
It's apocalypse time, all the events described in Revelation will play out before our eyes. Comets, plagues, world wars, civil wars, famines, mass death, more comets, the Two Witnesses Elija and Henoch, the jewish antichrist and his false prophet, the Seven Last Plagues, the Second Coming of Jesus Christ
John Martin
...
Lucas Gomez
>create penny
>one cent coin
>worth 3 cents in copper
>buy pennys for 2 cents
>melt them down and sell the for 50% profit in copper