WEB Notes: The Federal Reserve provides an excuse below, they are blaming this on laundromats being closed and transit systems. Last time I checked, those businesses are still open. Regardless, this entire crisis is manufactured! Of course, there are going to be problems. Of course, people will not be able to pay their mortgages and so on. They are and will milk this manufactured crisis for all its worth. If you have not read The Planned Financial Collapse Of The World, take some time to do so today. They, your own government has manufactured a crisis to destroy our nation. Your Republican President declared a national emergency when just 50 people died just days after saying COVID was bull. Now he says we need to wear a mask. None of these people are your friends.
The coin shortage is real and it’s something the nation is grappling with as the pandemic continues.
According to a news release from the Federal Reserve, the issue is that the coins are not where they need to be right now, as circulation is down due to the pandemic with many coin-circulating businesses, such as transit and laundromats, closed down to stem the spread of the virus.
“The primary issue with coin is a dramatic deceleration of coin circulation through the supply chain. As of April 2020, the U.S. Treasury estimates that the total value of coin in circulation is $47.8 billion, up from $47.4 billion as of April 2019. While there is adequate coin in the economy, the slowed pace of circulation has meant that sufficient quantities of coin are not readily available where needed. With establishments like retail shops, bank branches, transit authorities and laundromats closed, the typical places where coin enters our society have slowed or even stopped the normal circulation of coin. The coin supply chain includes many participants, from the U.S. Mint who produces new coin, to the Federal Reserve who distributes coin on the U.S. Mint’s behalf, to armored carriers, banks, retailers and consumers, all of whom have a role to play in helping to resolve this issue.”
Federal Reserve on June 30, 2020
Source: KPRC2
Interesting Tweets
I just saw this at the Wendy’s drive-thru. What’s this coin shortage all about? pic.twitter.com/oMCkwLNXQJ
— Jake Morphonios ???? www.blackstoneintel.com (@morphonios) July 13, 2020
This week I saw a sign at a Starbucks an hour outside of dc and no idea about any coin shortage. pic.twitter.com/aPmLswRgNf
— Scott Talan (@talan) July 14, 2020