The U.S. Mint in Philadelphia is set to strike its last circulating penny on Wednesday, ending production due to the rising costs of manufacturing the 1-cent coin. President Donald Trump ordered the penny’s discontinuation as the cost to produce them exceeded their value. While the penny had a historical significance and some retailers voiced concerns about the abrupt phase-out, the Treasury Department anticipates saving $56 million annually by halting production. Despite this change, the nickel, dime, and quarter are still in production, though their cost of production also outweighs their value.
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Ukraine’s consideration of a shift from the US dollar to the euro as its primary currency makes sense given its geographical proximity to European nations and its substantial trade relationships within the European Union. The EU is, ironically, Ukraine’s largest trading partner, despite the current global trade tensions. While China holds the position of Ukraine’s single biggest trading partner, the potential impact of any US-led mineral deals remains uncertain, highlighting the complexity of the situation.
This potential currency shift aligns perfectly with Ukraine’s aspirations for EU membership, a goal that would necessitate the adoption of the euro eventually. The move also seems logical in the context of a global reassessment of currency dominance.… Continue reading
Thailand’s recent designation as a BRICS partner nation has sparked a wave of diverse reactions and interpretations. It’s crucial to understand that this partnership is distinct from full membership; the implication is that full membership is a separate process and aspiration for other nations. Saudi Arabia is frequently mentioned as a potential candidate for full BRICS membership in the future, a prospect seemingly met with apprehension by some, particularly considering the potential geopolitical ramifications.
The expansion of BRICS, particularly its recent surge in attracting partner nations, isn’t entirely new. The bloc’s increased activity and visibility in recent years can be partly attributed to bolder actions by China and Russia’s engagement in major conflicts.… Continue reading
John Q. Hosedrinker 
Matt Underwood