COVID-Crunch? Fed Begins Rationing Coins As Americans Horde Cash | WHAT REALLY HAPPENED

COVID-Crunch? Fed Begins Rationing Coins As Americans Horde Cash

Having closed the US Mint and halted production (blaming COVID-19) after a surge in demand for gold and silver coins, and warned of the danger of using bills (once again blaming the pandemic and choosing to "quarantine" cash for the sake of Americans' health), Fed Chair Powell quietly admitted to lawmakers this week that The Fed will be rationing coins as 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.

Webmaster's Commentary: 

I have become a complete contrarian on whatever I am hearing from the Fed, and imagine that this would not be a bad time to be picking up gold and silver coinage, if at all possible.

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