Tuesday, September 07, 2021

Imagine if ANY other manufactured product was controlled by these morons!-----Coin shortage redux: Banks, merchants again searching for pennies | American Banker

Coin shortage redux: Banks, merchants again searching for pennies | American Banker
"Bankers thought the nationwide coin shortage was over...
...The United States Mint is responsible for the production of coins, and the Fed controls their distribution to banks. 
...The Fed believes the renewed coin shortage has been the result of a normal seasonal increase in demand for coins, coupled with the impact that the third round of economic impact payments had on low-income families that no longer needed to use coins to pay bills, and the higher use of coins for transactional purposes as the economy reopened, according to the spokesperson.
  • Production capacity at the U.S. Mint is just about maxed out. 
...Gaherity, along with officials from banking trade groups and the U.S. Mint, is part of a task force that the Fed formed last year to tackle the problem. 
...“We cannot manufacture our way out of this problem,” Mint Director David Ryder said in the video...Read all.

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