Here it is, proof that the failing economy has nothing to do with the credit crunch. Check out this picture, correct me if I’m wrong but, aren’t copper coins supposed to be non-magnetic?
I tried it with every coin I could find, not every one is magnetic. Some of the shiny new looking ones are, most of the old ones aren’t.
That’s it, irrefutable proof that someone is introducing fake small denomination coins into the UK economy thereby making our money worth just a little bit less. It could be the Chinese or Russians, or BOTH!!
Imagine adding a thousand pounds worth of ‘coppers’ (1p and 2p) every week into the British monetary system… wikipedia states that there are around three and a half billion pounds worth of coinage in circulation, of which, about 2 billion is in 1’s and 2 pound coins. According to this BBC news article, there are 10.13 billion 1p coins and 6.2 billion 2p coins in circulation.
That’s 225 Million 300 thousand pounds in coppers, the oldest 1p’s and 2p’s in circulation are from 1971.
Put an extra 1000 pounds worth of coppers, say 50,000 1ps and 25,000 2ps, into the economy each week since 1971 and that would be around another 1 Million 965 thousand pounds worth of extra coppers coming in. So all coinage is worth around a half a percent less! No wonder fuel costs so much! Petrol stations were the only places that would show prices to the 3rd decimal place, now I know why they don’t do that anymore.
It’s a conspiracy I tells ya!
Mathematical calculations on this post were made using the Google search box so may in fact be wrong
01.09.08 8:31 am
Not sure about where you’re at but here in the States many of our so called copper and/or silver coins have other metals in them.
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#101.09.08 8:57 am
yes that’s true, it’s weird how only some of them do though
#201.09.08 4:43 pm
That is some fantastic homework that you have done there! Now you have convinced me that the downturn in the USA is also likely to be what the Chinese and the Russians are doing! You have omitted the Indians, they can be very clever too!
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#301.09.08 9:14 pm
LOL! Why don’t you make a money tree with all the coppers you can find that are magnetic?
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#401.09.08 10:53 pm
Nicole: well, not exactly home work. Took 5 minutes with 3 tabs open in Firefox
Sharon: now that is an amazing idea!! lol, so that’s gonna be the next thing that stops me doing real work!
#502.09.08 8:04 am
that is an interesting fact Andy! but is it really the Chinese or the Russians to be blamed. it could be an inside job after all…
#6
05.09.08 12:56 pm
I blame the Freemasons… or is it the Scientologists?
Cheers, Jon
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#718.10.08 2:41 pm
shaxx: haha, true. I never thought of that, time to lock the penny jars away!!
jon: freeologists definitely
#824.02.09 1:30 pm
This was shocking to me. Copper getting attracted to a magnet??
#9we need to nip the bud else, will be a big trouble for all of us.
01.03.09 12:24 pm
Ireffutable?? is the alloy supposed to be constant? and i though they were worth more for the copper than the coinage.
actually that is clearly nonsense, if it was true people could sell all of their money, use that to buy more monet, sell that money etc.
I will just shut up now.
Rob´s last blog post..Charity Wankathon
#1005.06.09 8:59 pm
Not sure about the conspiracy part, I just thought that your photo was quite compelling!
#11