May 29, 2025 • 31 mins
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Speaker 1 (00:04):
It's that time time time, luck and load.
Speaker 2 (00:11):
The Michael Arry Show is on.
Speaker 3 (00:13):
The air.
Speaker 2 (00:31):
Dial and Shinnon Noah writes, who cares if the world's
burning down? I don't rather hear what you guys are
up to. That's a nice thing to say. That would
probably that he'd probably grow weary of that after a while. Audrey,
you're on the Michael Berry Show. What you got?
Speaker 4 (00:49):
Well?
Speaker 5 (00:49):
Besides, mister Robot is calling me honeybucket affectionately. And I
had no idea what a honey bucket was until maybe
a month.
Speaker 2 (00:57):
Or two ago.
Speaker 5 (01:00):
Remember, you know, I used to work at KTRH and
him and I don't remember which child it was. We're
at the elevator and we're all there and the kid
is about to go on the elevator and Ramone holds
his chest back and says, no, we let ladies go
in first. And that just went over my heart. And
he has great taste of music.
Speaker 2 (01:22):
We'll stick with what won over your heart. His taste
of music is a little nineties centric, a little nineties
centric for me, Ramon, do you remember Ken Pridgin Amabelle?
He's the artist. He has an art gallery honoring Texas
(01:46):
Fallen soldiers, and KPRCTV did a good news story on
him the other day. It's I think it's important to
profile people doing good things. You can overdo the negative.
It's easy to pick and choose from the crime reports
(02:07):
and the frauds and the failures, and I think you
leave people with a sense of fatigue that all's gone
to hell, nothing matters. You have to remind people there's
good out there. Ken Pridgin, when a regional resident, a
resident of our region dies in action, he paints that
(02:35):
person's portrait twice wants to put on the wall of
his self built, self maintained art gallery, and the other
he presents to the family. It's an incredible, incredible gesture.
A hat tip to KPRCTV is clip number fifteen for
(02:56):
doing this story the other day.
Speaker 6 (03:00):
I was in the military. I was in the Air
Force for ten years and it's Memorial Day. Every day
in here today is we honor our kids that gave
it all. Jesse Ainsworth. We're having his funeral up here
(03:29):
in Houston. And if it hadn't been for Jesse, we
wouldn't be here being interviewed and there would be no gallery.
These in here went all the way they gave up
their very lives. These people in here are grieving. They
(03:52):
need help. I try to give them a little bit
of a band aid on their hearts, just in case
you think that's all. This is about two hundred and
fifty ors sold, just like the ones out there, you
(04:18):
walk out of here and you remember the stories of
each and every one are the ones that touch your heart,
and there's a lot of them in here that will
touch your heart.
Speaker 2 (04:34):
I don't know how old Ken Bridging is. I would
estimate one hundred and twenty five, but I I don't
have a steady enough hand. I mean leaving inside the
artistic ability. I don't have a steady enough hand for
that amount of time to paint the way he does.
(04:55):
And I don't know how old Ken is, but he's
up there, and that he still does. What a passion?
What keeps him alive? You got to find purpose in
your life. Everyone is chasing happiness. But I've come to understand,
and it took me a long time in life to
figure this out. If you just have happiness all the time,
(05:16):
you'll grow weary of happiness, you grow bored of it.
You think you won't, but you grow bored of it.
It's finding purpose, and this man has found purpose. The
Treasury Department is winding down clip number seventeen remont the
production of pennies, with the last batch being printed this month,
is a cost saving measure ordered by President Trump because
(05:38):
every penny currently costs about three point six y nine
cents to actually make the story from the Wall Street Journal.
Speaker 4 (05:48):
The debate over the penny isn't new. At least four
different bills have been introduced to Congress about losing the
penny since nineteen eighty nine.
Speaker 1 (05:56):
Anytime we're spending more money on something that people don't
actually use, that's an example of something we should probably change.
Speaker 4 (06:03):
Last year at the Mint lost more than eighty five
million dollars to make more than three billion pennies, and
Americans throw away roughly sixty eight.
Speaker 7 (06:12):
Million in coins each year.
Speaker 1 (06:13):
Why have we kept the penny till now? I think
the main reason is simple inertia.
Speaker 4 (06:18):
Professor Robert Waples published a study in two thousand and
seven about why pennies aren't cost effective.
Speaker 1 (06:24):
The big problem is that the value of our time
is way more than the value of a penny. The
average ways in the United States is close to thirty
six dollars an hour.
Speaker 7 (06:34):
That's one penny per second.
Speaker 1 (06:36):
And if it takes you more than a second to
grab your penny out of your pocket or your birth
or whatever, it wasted your time doing that.
Speaker 4 (06:43):
Advocates for the penny, like Mark Weller, dispute that claim debit.
Speaker 8 (06:47):
And credit cards often take much much longer than people
paying with cash. I mean, you've all said there at
the kiosk, and you know debit or credit is the amount, right,
do you want to round up to charity? So to
somehow suggest that cash is going to be slower, I
think is a ridiculous argument.
Speaker 4 (07:04):
The argument against the penny has a lot to do
with its seniorage, which is basically the difference between how
much it costs to produce coins versus how much they're
actually worth. It costs the US men nearly three point
seven cents to produce each penny in twenty twenty four,
but the penny is still only valued at one set.
Speaker 2 (07:23):
The coin has had a.
Speaker 4 (07:24):
Negative seniorage for almost twenty years, and part of the
reason for the increased production costs is that the metal
in this case zinc, has gotten more expensive.
Speaker 7 (07:34):
The inflation, which drives up.
Speaker 1 (07:35):
The prices of everything is driving up the price of
making this metal. You know, they got to pay the workers,
they got to buy the equipment to do the mining, whatever,
and all those prices are getting higher, and so that
the cost.
Speaker 7 (07:46):
Of getting zinc keeps getting higher and higher.
Speaker 2 (07:51):
It worries me how little understanding people have of currency,
which underlies economics. She says, it costs three point six
y nine cents to make, but it's only worth one cent.
It doesn't have any intrinsic work. It represents one cent.
(08:14):
A five dollars bill is not worth five dollars. It
represents five dollars. It's worth what we decide it's worth.
This is the Michael Berry Show throughout his various Yeah,
(08:34):
every time Lui Primo. Every time you play Lui Primo,
I always think it's somebody. I never think, oh, it's Luprima. There.
We've been debating the best songs with Penny in the name.
I won't give you our list, but you're welcome to
make yours, or submit your favorite song with Penny in
(08:56):
the song or the title to me by email Michael
Berry Show dot com. It's very important to understand because
you have to get back to the fundamentals, because it
makes a lot of other things make sense that are
poorly understood. It's important to understand that a unit of
currency in a printed or stamped minted version does not
(09:23):
in and of itself have very much value at all.
A one hundred dollars bill is not actually worth one
hundred dollars. It's just a piece of paper. We assign
it that value, but when we stopped assigning it that value,
it doesn't have any residual value. It's just a piece
(09:44):
of paper. And it's important to understand. This is where
things become illusory in value. So bitcoin can go from
being worth nothing to being worth a fortune if that
is the value that is assigned gold is worth. Gold
(10:05):
has been so volatile and had such a run up
the last couple years. Kenny Duncan Jr. Is there are
days that of all the things he does, he has
to focus on gold exclusively and his team because there's
so much action in gold that day because the prices
have hit record highs. But gold in and of itself,
(10:27):
other than gold, does actually have some practical uses. So
if we stopped using it as a storer of wealth,
which it has been for millennia. Then it still has
practical uses, as does the copper in a penny, which
is why in countries going bankrupt they will melt the
(10:48):
currency down to use them for practical purposes. If you
don't strike a currency and you simply exist, you go
back to a state of nature. And it's a horrifying thought.
Now i'll post apocalyptic because we are so advanced. But
there was such a time where a man can focused
(11:08):
first on safety, security, keeping a lion or a tiger
or a neighbor out of your tent, staying out of
the rain, staying out of the elements, that and eating
and reproducing to keep the species alive. We're about all
you had time for. And then with advancements, you had
(11:32):
more leisure. When you had more leisure, you had more
time for thought about the nature of love and the
various types of love. And as you started having written
communication or written, you could reduce things to writing. You
could then you wouldn't be limited by the oral history
(11:52):
of This is how you make the wheel, This is
how you bake the bread, this is how you make
the meat, and so over a course of time you
do that, and it became necessary for the farmer who
raised chickens to be able to buy a cow, because
you're not going to trade a chicken for a cow,
so there had to be away, so they would have
(12:13):
to devise a structure. They'd go, well, what you give
me thirty chickens and I'll give you a cow. Well,
it's very inefficient. I don't want to give you thirty chickens.
I want a cow, but I don't have enough chickens
to be able to spare thirty chickens. So, because of
the disparate valuation by people of things, a pair of
(12:34):
shoes was more valuable than a loaf of bread. So
what's the cobbler to do. He can't make as many
pairs of shoes in a day as a baker can
make bread. So there were created by mankind forms of currency,
(12:55):
a way to represent value. That value is what we
assign to it. So when you start, you go, all right,
we're gonna use this coin. I made these coins, and
there's ten of them, and we're gonna say each one
of them is worth ten roubles. Okay, they're each worth ten,
all right, And then I need a smaller unit in
(13:16):
that I need a larger unit than that all right,
we will assign this value to this item. And for
much of what we do, we have to remember that
what something is worth. I hear people say this all
the time. I'm worth more than what do you make
for hour? I make twenty two. I'm worth a lot
more than that, are you though?
Speaker 7 (13:38):
Well?
Speaker 2 (13:39):
Yeah, I am by what measure? Well, I do a
lot for that company. You're not value based on whether
you do a lot or not. How about this, if
they lost you tomorrow, what would be the valuation loss
to that company? Because there is a value to headache? Right,
(13:59):
if the eight headaches, I do a lot for that company.
I go around and pick up all the trash. I
keep morale high. I motivate other people. I deliver the
products when no one else will. I do things other
than just my job. Okay, there is a value to that.
And either the person who makes the decision as to
what you make assesses and assigns of value which they're
going to give you for that, or they don't. But
(14:22):
whatever you think you're worth, it is not what you're worth.
You are worth exactly what you're getting paid. If you
want to know what your worth is, and you believe
it is above what you're getting paid. You're going to
have to leave. You're going to have to get someone
else to pay you what you think you're worth, because
you're not going to pay yourself and what you're worth.
(14:44):
Everyone doesn't get a trophy. What you're worth is not
what you decide you're worth. Or if that go over,
there is getting paid more and she's getting paid more,
and you want to get paid what they're paid. You
don't get paid with their paid unless you leave. The
moment that you say you're going to leave, they either go, yes,
you are worth what those other people are, and they're
(15:06):
currently valued at twenty five dollars an hour, so we
will match that. We will value you at twenty five.
But you don't have worth in and of yourself as
an employee. You do as a child of God, but
not as an employee. Your worth is what they will
value you at, and sometimes you are undervalued. But the
only way to change that valuation is to remove yourself
(15:29):
from the process and force them to suffer and see,
without me here, this is what it's going to cost
them in my absence. If you can be easily replaced
at or below what you're getting paid now, then you're
probably not going to get the increase because your value
is exactly what it would take through. You are the
(15:50):
replacement value. But anyway, I think it's important to understand
the difference between what something is worth and how we
value it. It's done for a girl and a boy.
Speaker 9 (16:02):
I like Lackaberry.
Speaker 2 (16:04):
Shure made a very astute point. He said, for all
this talk about a penny costing three point six y
nine cents to make and not being worth that much,
costing more than its value at that fails to take
(16:29):
into consideration how many thousand times that penny will circulate
through the economy, Which is a good point. The penny
is not created for three point six y nine cents
and then spent one time. The penny as a unit
(16:51):
of value, which we've assigned to be what we now
call one cent, that is so ingrained in us that
we think one cent is an actual number. It isn't.
It's made up. All of these numbers, all of these names,
all of these words, all of these values are made up.
It could instead be worth one pebble, or one blade
(17:13):
of grass, or one drop of water. We just make
up that it's a penny. Even assigning a cost of
three point sixty nine cents to make a penny as
three point sixty nine pennies is in and of itself
arbitrary if you think about it. But Kenneth Nelson's point,
(17:34):
and I think it's a good one, is the value
of the penny, or the worth of the penny, the
usefulness of the penny, is that we needed a marker
that represented that value. One tenth of a dime, one
twenty fifth of a quarter, one one hundredth of a dollar,
one fifth of a nickel. We need to needed something
(17:57):
of that value, and we needed a lot or we
did the real answer that nobody wants to say, because
there's something of a passion play here. People don't want
to do away with a penny. I used to have,
remember the wheat penny. I'd go through anybody that had pennies,
my grandmother, my parents. I'd take them all and i'd
(18:19):
sort them out, and i'd rank them a little weird
old nerd that I was in my own little way,
and i would line them up by year, and i'd
have a whole strip of the living room floor. And
then eventually I had to go into the hallway and
i'd line them up by year. You know, if I
found one from nineteen twelve, Oh, that was excited in
(18:40):
nineteen twenty seven, and the goal was to have all
you know have however many years you could go, however
far back you could go. But there is still a
nostalgia about the penny. The real answer is the money
that it costs to make the penny is wasted, not
(19:01):
because the penny does not represent as much value as
the cost to make the penny as measured by that
value that we just said it was. So the real
answer to the question is we don't need the penny
anymore because we don't deal in amounts of money that's small.
(19:26):
The inflationary effect represents the fact that we probably need
larger denominations if we were still committed to currency, and
we're not. We are headed to a digital economy, and
that should frighten you. And could spend a lot of
time talking about how that concerns me. We're already there.
Once they started, there became a measure, There became a
(19:50):
starting point on the journey, and now it's downhill. You're
not going to stop it. The idea of using paper
currency today, in and of itself, half revolutionary. You are
presumed by the irs if you deal in currency to
be a tax cheat. You are presumed, I know for
(20:10):
a fact, you are far more likely to be audited.
You are far more likely to be charged because of
the belief, not perception, belief by tax policy makers that
people who deal in cash do so to avoid taxes,
which is not true. Oh sure, it's true for some people.
Of course it's true of some people. But many people
store cash for the same reasons they store gold, because
(20:34):
they want to be able to have money that they
control that the government cannot follow as it's moving. The
fact that you don't want to open your butthole up
for inspection by the TSA every three minutes to avoid
their suspicion does not mean that you're a criminal. If
(20:57):
you ever hear someone say well, if you don't have
any I ain't to hide, my grandmother would say that,
I don't know what all the problem is. If you
don't have anything to hide. They would set up drunk
driving stops in Orange and just pop people one after
the other. They'd get them one after the other after
the other after the other, and I'd say, any that
(21:19):
doesn't seem right, person didn't do anything wrong. They didn't
do anything to arouse suspicion. I don't know if I
knew about the Fourth Amendment yet, but I knew that
they hadn't anything to araoul suspicion. And you know, you
had these stops. You're stopping everybody, so there's no presumption
of innocence, there's no suspicion, there's no reasonable basis upon
(21:39):
which you're stopping people. And that is not only unconstitutional,
it's distinctly an American. And she'd say, well, if you
not do anything wrong, and I think, well, that's not
how this ought to work. Do we really want the
government coming into your office and say, hey, I need
to look through your desk. Well, I'm in the middle
of working, and no, I'm like, this is my private desk.
(22:03):
H we're going to look through it. Well, who knows
what you have in there. But it's not for them
to decide whether that's what you should have in your
desk or not. A sex toy, a drug, a girly magazine,
a pistol, a keepsake from your grandmother, It doesn't matter.
(22:24):
That is the whole point of the individual and privacy.
We have to be careful that we understand what we believe,
that we understand what we believe, and that we teach
that because young people don't learn these things on their own.
They have to understand the basis of our libertarian principles,
(22:46):
the basis of our nation's founding, the basis of capitalism,
the basis upon which the wealth of nations was premised.
Adam Smith wrote in seventeen seventy six, a document as
important as our Declaration of independent independence. That is true,
and Adam Smith was influencing Thomas Jefferson as much as
(23:07):
Jefferson was influencing Adam Smith. And Smith was writing on
the laws of economics that had not yet been established
as scientific laws had not yet been proven, that the
idea of free trade among the individual not nations was revolutionary.
(23:30):
The girls all get pretty at closing time when you're
listening to the Michael Berry Show, And I just confirmed
I was pretty certain. But the penny will still be
accepted as a representation of currency, So in making a purchase,
(23:51):
I can't imagine very many people are going to turn
down your pennies. I used to love Ramon. My mother
would get from the bank and I would roll the
family's coins, and it was such a good feeling to
you know, to pack in like a sausage, the pennies
(24:11):
into the roller and then you close it on both
ends and then you know, kind of pop it on
the on the table. The penny was good to die
was fined the quarter when you had a whole sleeve
of quarters that you were taking to the bank. That
thing that's that's like a rod you could bust somebody
(24:32):
in the head with. Yeah, it was a thing of beauty. Ramon,
can I get the theme for Mash? Are you a
Mash fan? Not a Mash fan? Did you ever watch it?
Have you ever seen an episode? Okay, just didn't speak
to you. Mash was so big. I mean, if you're
talking about ten most influential, we tend to think of,
(24:54):
you know, the modern stuff that got so so incredibly big,
like Seinfeld, right Sheer, those sorts of things. But in
terms of influence in its day, which preceded me. I
mean I did watch it as a kid, but its
real influence was preceded me. I think the fact that
it was going on during Vietnam really probably helped it
(25:18):
a lot. And it wasn't announced to my knowledge that
it was actually the Korean War that this was happening.
But you know, some North Korean military officials, we lose
our music. Thank you, we're executed for this. I mean,
can you imagine if so low Cam has a new
(25:41):
warship that they five thousand ton destroyer and watching a
vessel be put into the water a pretty interesting thing
because you got to get it up to the edge
and he again push it in there and it's always outward.
You see them launch these these super yachts and all that.
(26:04):
When that thing goes in the water, it's not a
pretty process. And every time I see it, I think, man,
thing looks like you could capsize. Well this one did,
this one did. The story from the Sun.
Speaker 10 (26:17):
Kim Jongmun watched as North Korea's newest warship was crushed
in a catastrophic launch. According to South Korean military analysis,
the vessel is lying on its side in the water.
The furious Supreme Leader said it was a criminal act
caused by absolute carelessness irresponsibility and could not be tolerated.
The ship appears to be of the same class as
the five thousand ton destroyer that North Korea launched last
(26:39):
month in April, tyrant. Kim jong un unveiled North Korea's
largest naval destroyer that could house a vertical launch pad
capable of firing nuclear missiles. The giant's warship was expected
to substantially boost North Korea's naval capabilities.
Speaker 7 (26:51):
In a chilling warn into the West, the.
Speaker 10 (26:53):
Normally rosy official Korean Central News Agency announced there was
a mishap which left some sections of the warship's pot
him crushed. It said the accident managed to destroy the
balance of the warship. South Korea's military said US in
Seoul intelligence authorities assessed that North Korea's side launch attempts
of the ship failed.
Speaker 2 (27:10):
Ouch off with their heads. It's actually not the first
time North Korean military has had such a mishap. Remember
when they tested a hydrogen bomb. Okay, gentlemen, hydrogen bomb
is ready to be tested. Please a lorch, dear Lido
Kim jong un a master own the hydrogen bomb is
ready for testing. Eh, very good, rich, prepare for lunch.
(27:33):
All right, everyone, this is not a test. The peoples,
the Republic of Korea, is it ready for experimental hydrogen
bomb detonation? Ready on your command? You we talked Okay,
everyone rich do it?
Speaker 3 (27:43):
Don't need the bomb?
Speaker 2 (27:44):
Detonate the bomb?
Speaker 8 (27:45):
Hydrogen bomb detonation on the CEO titles free true.
Speaker 9 (27:52):
Wow, a bomb detonation complete.
Speaker 6 (28:02):
Where did it work?
Speaker 4 (28:03):
The bomb appears to have detonated successfully, But what happened
to have voices?
Speaker 9 (28:07):
The effects of the bomb appeared to have changed the
way we speak genre just Jory talk. Did you remember
to foody bomb with hydrogen.
Speaker 2 (28:15):
Or kirium bom?
Speaker 9 (28:17):
It appears I have fiody boma furium saw assisted cure, Yes,
Delida have my dogs eating wrench today? No, dear reader good.
Speaker 2 (28:37):
A new Senate report reveals that Biden officials actively took
steps to quote delay warning the public end quote for
months in twenty twenty one about the potential risks of
heart related complications from the clock shot the ones that
killed my brother. The report from Senator Ron Johnson's office
(28:58):
as starting in Februar worry of twenty twenty one, federal
health agencies had been alerted to large reports of myocarditis
in young people who received the Pfizer vaccine, but waited
until late June that year to adjust the vaccine labels
to make that side effect known. The report States quote.
Even those CDC and FDA officials were well aware of
(29:20):
the risk of myocarditis following COVID nineteen vaccination. It's not
a vaccine, but whatever their injections, they don't actually serve
as a vaccine. The Biden administration opted to withhold issuing
a formal warning to the public for months after this
about the safety concerns jeopardizing the health of young Americans.
(29:41):
As The New York Post points out, doctor Tracy Beth Hoagu,
who consulted for Florida's Department of Health as an epidemiologist
at the time, had one of her tweets labeled misleading
for making an observation about the risks of myocarditis that
showed up in vaccine studies around June of twenty twenty one,
even after health officials adjusted the labels, end of juels
who raised concerns about myocarditis were targeted. Philadelphia cardiology clinic
(30:05):
owner A Niche Coca's Twitter account was suspended for ostensibly
linking to a review of post vaccine myo carditis. It
is dangerous stuff and they didn't want you to know.
It's just that simple.
Speaker 3 (30:29):
Got the cover, got the booster.
Speaker 10 (30:42):
Gooding a booster to happy.
Speaker 3 (30:50):
Wells'll do this down. They're keeping me down. I'm backing
in a Maxies see if you get right back on
their being boo hoole. She said I needed the vaccine.
Boom how she said up be safe for the vaccine.
It's that time time time, luck and load.
Speaker 2 (00:11):
The Michael Arry Show is on.
Speaker 3 (00:13):
The air.
Speaker 2 (00:31):
Dial and Shinnon Noah writes, who cares if the world's
burning down? I don't rather hear what you guys are
up to. That's a nice thing to say. That would
probably that he'd probably grow weary of that after a while. Audrey,
you're on the Michael Berry Show. What you got?
Speaker 4 (00:49):
Well?
Speaker 5 (00:49):
Besides, mister Robot is calling me honeybucket affectionately. And I
had no idea what a honey bucket was until maybe
a month.
Speaker 2 (00:57):
Or two ago.
Speaker 5 (01:00):
Remember, you know, I used to work at KTRH and
him and I don't remember which child it was. We're
at the elevator and we're all there and the kid
is about to go on the elevator and Ramone holds
his chest back and says, no, we let ladies go
in first. And that just went over my heart. And
he has great taste of music.
Speaker 2 (01:22):
We'll stick with what won over your heart. His taste
of music is a little nineties centric, a little nineties
centric for me, Ramon, do you remember Ken Pridgin Amabelle?
He's the artist. He has an art gallery honoring Texas
(01:46):
Fallen soldiers, and KPRCTV did a good news story on
him the other day. It's I think it's important to
profile people doing good things. You can overdo the negative.
It's easy to pick and choose from the crime reports
(02:07):
and the frauds and the failures, and I think you
leave people with a sense of fatigue that all's gone
to hell, nothing matters. You have to remind people there's
good out there. Ken Pridgin, when a regional resident, a
resident of our region dies in action, he paints that
(02:35):
person's portrait twice wants to put on the wall of
his self built, self maintained art gallery, and the other
he presents to the family. It's an incredible, incredible gesture.
A hat tip to KPRCTV is clip number fifteen for
(02:56):
doing this story the other day.
Speaker 6 (03:00):
I was in the military. I was in the Air
Force for ten years and it's Memorial Day. Every day
in here today is we honor our kids that gave
it all. Jesse Ainsworth. We're having his funeral up here
(03:29):
in Houston. And if it hadn't been for Jesse, we
wouldn't be here being interviewed and there would be no gallery.
These in here went all the way they gave up
their very lives. These people in here are grieving. They
(03:52):
need help. I try to give them a little bit
of a band aid on their hearts, just in case
you think that's all. This is about two hundred and
fifty ors sold, just like the ones out there, you
(04:18):
walk out of here and you remember the stories of
each and every one are the ones that touch your heart,
and there's a lot of them in here that will
touch your heart.
Speaker 2 (04:34):
I don't know how old Ken Bridging is. I would
estimate one hundred and twenty five, but I I don't
have a steady enough hand. I mean leaving inside the
artistic ability. I don't have a steady enough hand for
that amount of time to paint the way he does.
(04:55):
And I don't know how old Ken is, but he's
up there, and that he still does. What a passion?
What keeps him alive? You got to find purpose in
your life. Everyone is chasing happiness. But I've come to understand,
and it took me a long time in life to
figure this out. If you just have happiness all the time,
(05:16):
you'll grow weary of happiness, you grow bored of it.
You think you won't, but you grow bored of it.
It's finding purpose, and this man has found purpose. The
Treasury Department is winding down clip number seventeen remont the
production of pennies, with the last batch being printed this month,
is a cost saving measure ordered by President Trump because
(05:38):
every penny currently costs about three point six y nine
cents to actually make the story from the Wall Street Journal.
Speaker 4 (05:48):
The debate over the penny isn't new. At least four
different bills have been introduced to Congress about losing the
penny since nineteen eighty nine.
Speaker 1 (05:56):
Anytime we're spending more money on something that people don't
actually use, that's an example of something we should probably change.
Speaker 4 (06:03):
Last year at the Mint lost more than eighty five
million dollars to make more than three billion pennies, and
Americans throw away roughly sixty eight.
Speaker 7 (06:12):
Million in coins each year.
Speaker 1 (06:13):
Why have we kept the penny till now? I think
the main reason is simple inertia.
Speaker 4 (06:18):
Professor Robert Waples published a study in two thousand and
seven about why pennies aren't cost effective.
Speaker 1 (06:24):
The big problem is that the value of our time
is way more than the value of a penny. The
average ways in the United States is close to thirty
six dollars an hour.
Speaker 7 (06:34):
That's one penny per second.
Speaker 1 (06:36):
And if it takes you more than a second to
grab your penny out of your pocket or your birth
or whatever, it wasted your time doing that.
Speaker 4 (06:43):
Advocates for the penny, like Mark Weller, dispute that claim debit.
Speaker 8 (06:47):
And credit cards often take much much longer than people
paying with cash. I mean, you've all said there at
the kiosk, and you know debit or credit is the amount, right,
do you want to round up to charity? So to
somehow suggest that cash is going to be slower, I
think is a ridiculous argument.
Speaker 4 (07:04):
The argument against the penny has a lot to do
with its seniorage, which is basically the difference between how
much it costs to produce coins versus how much they're
actually worth. It costs the US men nearly three point
seven cents to produce each penny in twenty twenty four,
but the penny is still only valued at one set.
Speaker 2 (07:23):
The coin has had a.
Speaker 4 (07:24):
Negative seniorage for almost twenty years, and part of the
reason for the increased production costs is that the metal
in this case zinc, has gotten more expensive.
Speaker 7 (07:34):
The inflation, which drives up.
Speaker 1 (07:35):
The prices of everything is driving up the price of
making this metal. You know, they got to pay the workers,
they got to buy the equipment to do the mining, whatever,
and all those prices are getting higher, and so that
the cost.
Speaker 7 (07:46):
Of getting zinc keeps getting higher and higher.
Speaker 2 (07:51):
It worries me how little understanding people have of currency,
which underlies economics. She says, it costs three point six
y nine cents to make, but it's only worth one cent.
It doesn't have any intrinsic work. It represents one cent.
(08:14):
A five dollars bill is not worth five dollars. It
represents five dollars. It's worth what we decide it's worth.
This is the Michael Berry Show throughout his various Yeah,
(08:34):
every time Lui Primo. Every time you play Lui Primo,
I always think it's somebody. I never think, oh, it's Luprima. There.
We've been debating the best songs with Penny in the name.
I won't give you our list, but you're welcome to
make yours, or submit your favorite song with Penny in
(08:56):
the song or the title to me by email Michael
Berry Show dot com. It's very important to understand because
you have to get back to the fundamentals, because it
makes a lot of other things make sense that are
poorly understood. It's important to understand that a unit of
currency in a printed or stamped minted version does not
(09:23):
in and of itself have very much value at all.
A one hundred dollars bill is not actually worth one
hundred dollars. It's just a piece of paper. We assign
it that value, but when we stopped assigning it that value,
it doesn't have any residual value. It's just a piece
(09:44):
of paper. And it's important to understand. This is where
things become illusory in value. So bitcoin can go from
being worth nothing to being worth a fortune if that
is the value that is assigned gold is worth. Gold
(10:05):
has been so volatile and had such a run up
the last couple years. Kenny Duncan Jr. Is there are
days that of all the things he does, he has
to focus on gold exclusively and his team because there's
so much action in gold that day because the prices
have hit record highs. But gold in and of itself,
(10:27):
other than gold, does actually have some practical uses. So
if we stopped using it as a storer of wealth,
which it has been for millennia. Then it still has
practical uses, as does the copper in a penny, which
is why in countries going bankrupt they will melt the
(10:48):
currency down to use them for practical purposes. If you
don't strike a currency and you simply exist, you go
back to a state of nature. And it's a horrifying thought.
Now i'll post apocalyptic because we are so advanced. But
there was such a time where a man can focused
(11:08):
first on safety, security, keeping a lion or a tiger
or a neighbor out of your tent, staying out of
the rain, staying out of the elements, that and eating
and reproducing to keep the species alive. We're about all
you had time for. And then with advancements, you had
(11:32):
more leisure. When you had more leisure, you had more
time for thought about the nature of love and the
various types of love. And as you started having written
communication or written, you could reduce things to writing. You
could then you wouldn't be limited by the oral history
(11:52):
of This is how you make the wheel, This is
how you bake the bread, this is how you make
the meat, and so over a course of time you
do that, and it became necessary for the farmer who
raised chickens to be able to buy a cow, because
you're not going to trade a chicken for a cow,
so there had to be away, so they would have
(12:13):
to devise a structure. They'd go, well, what you give
me thirty chickens and I'll give you a cow. Well,
it's very inefficient. I don't want to give you thirty chickens.
I want a cow, but I don't have enough chickens
to be able to spare thirty chickens. So, because of
the disparate valuation by people of things, a pair of
(12:34):
shoes was more valuable than a loaf of bread. So
what's the cobbler to do. He can't make as many
pairs of shoes in a day as a baker can
make bread. So there were created by mankind forms of currency,
(12:55):
a way to represent value. That value is what we
assign to it. So when you start, you go, all right,
we're gonna use this coin. I made these coins, and
there's ten of them, and we're gonna say each one
of them is worth ten roubles. Okay, they're each worth ten,
all right, And then I need a smaller unit in
(13:16):
that I need a larger unit than that all right,
we will assign this value to this item. And for
much of what we do, we have to remember that
what something is worth. I hear people say this all
the time. I'm worth more than what do you make
for hour? I make twenty two. I'm worth a lot
more than that, are you though?
Speaker 7 (13:38):
Well?
Speaker 2 (13:39):
Yeah, I am by what measure? Well, I do a
lot for that company. You're not value based on whether
you do a lot or not. How about this, if
they lost you tomorrow, what would be the valuation loss
to that company? Because there is a value to headache? Right,
(13:59):
if the eight headaches, I do a lot for that company.
I go around and pick up all the trash. I
keep morale high. I motivate other people. I deliver the
products when no one else will. I do things other
than just my job. Okay, there is a value to that.
And either the person who makes the decision as to
what you make assesses and assigns of value which they're
going to give you for that, or they don't. But
(14:22):
whatever you think you're worth, it is not what you're worth.
You are worth exactly what you're getting paid. If you
want to know what your worth is, and you believe
it is above what you're getting paid. You're going to
have to leave. You're going to have to get someone
else to pay you what you think you're worth, because
you're not going to pay yourself and what you're worth.
(14:44):
Everyone doesn't get a trophy. What you're worth is not
what you decide you're worth. Or if that go over,
there is getting paid more and she's getting paid more,
and you want to get paid what they're paid. You
don't get paid with their paid unless you leave. The
moment that you say you're going to leave, they either go, yes,
you are worth what those other people are, and they're
(15:06):
currently valued at twenty five dollars an hour, so we
will match that. We will value you at twenty five.
But you don't have worth in and of yourself as
an employee. You do as a child of God, but
not as an employee. Your worth is what they will
value you at, and sometimes you are undervalued. But the
only way to change that valuation is to remove yourself
(15:29):
from the process and force them to suffer and see,
without me here, this is what it's going to cost
them in my absence. If you can be easily replaced
at or below what you're getting paid now, then you're
probably not going to get the increase because your value
is exactly what it would take through. You are the
(15:50):
replacement value. But anyway, I think it's important to understand
the difference between what something is worth and how we
value it. It's done for a girl and a boy.
Speaker 9 (16:02):
I like Lackaberry.
Speaker 2 (16:04):
Shure made a very astute point. He said, for all
this talk about a penny costing three point six y
nine cents to make and not being worth that much,
costing more than its value at that fails to take
(16:29):
into consideration how many thousand times that penny will circulate
through the economy, Which is a good point. The penny
is not created for three point six y nine cents
and then spent one time. The penny as a unit
(16:51):
of value, which we've assigned to be what we now
call one cent, that is so ingrained in us that
we think one cent is an actual number. It isn't.
It's made up. All of these numbers, all of these names,
all of these words, all of these values are made up.
It could instead be worth one pebble, or one blade
(17:13):
of grass, or one drop of water. We just make
up that it's a penny. Even assigning a cost of
three point sixty nine cents to make a penny as
three point sixty nine pennies is in and of itself
arbitrary if you think about it. But Kenneth Nelson's point,
(17:34):
and I think it's a good one, is the value
of the penny, or the worth of the penny, the
usefulness of the penny, is that we needed a marker
that represented that value. One tenth of a dime, one
twenty fifth of a quarter, one one hundredth of a dollar,
one fifth of a nickel. We need to needed something
(17:57):
of that value, and we needed a lot or we
did the real answer that nobody wants to say, because
there's something of a passion play here. People don't want
to do away with a penny. I used to have,
remember the wheat penny. I'd go through anybody that had pennies,
my grandmother, my parents. I'd take them all and i'd
(18:19):
sort them out, and i'd rank them a little weird
old nerd that I was in my own little way,
and i would line them up by year, and i'd
have a whole strip of the living room floor. And
then eventually I had to go into the hallway and
i'd line them up by year. You know, if I
found one from nineteen twelve, Oh, that was excited in
(18:40):
nineteen twenty seven, and the goal was to have all
you know have however many years you could go, however
far back you could go. But there is still a
nostalgia about the penny. The real answer is the money
that it costs to make the penny is wasted, not
(19:01):
because the penny does not represent as much value as
the cost to make the penny as measured by that
value that we just said it was. So the real
answer to the question is we don't need the penny
anymore because we don't deal in amounts of money that's small.
(19:26):
The inflationary effect represents the fact that we probably need
larger denominations if we were still committed to currency, and
we're not. We are headed to a digital economy, and
that should frighten you. And could spend a lot of
time talking about how that concerns me. We're already there.
Once they started, there became a measure, There became a
(19:50):
starting point on the journey, and now it's downhill. You're
not going to stop it. The idea of using paper
currency today, in and of itself, half revolutionary. You are
presumed by the irs if you deal in currency to
be a tax cheat. You are presumed, I know for
(20:10):
a fact, you are far more likely to be audited.
You are far more likely to be charged because of
the belief, not perception, belief by tax policy makers that
people who deal in cash do so to avoid taxes,
which is not true. Oh sure, it's true for some people.
Of course it's true of some people. But many people
store cash for the same reasons they store gold, because
(20:34):
they want to be able to have money that they
control that the government cannot follow as it's moving. The
fact that you don't want to open your butthole up
for inspection by the TSA every three minutes to avoid
their suspicion does not mean that you're a criminal. If
(20:57):
you ever hear someone say well, if you don't have
any I ain't to hide, my grandmother would say that,
I don't know what all the problem is. If you
don't have anything to hide. They would set up drunk
driving stops in Orange and just pop people one after
the other. They'd get them one after the other after
the other after the other, and I'd say, any that
(21:19):
doesn't seem right, person didn't do anything wrong. They didn't
do anything to arouse suspicion. I don't know if I
knew about the Fourth Amendment yet, but I knew that
they hadn't anything to araoul suspicion. And you know, you
had these stops. You're stopping everybody, so there's no presumption
of innocence, there's no suspicion, there's no reasonable basis upon
(21:39):
which you're stopping people. And that is not only unconstitutional,
it's distinctly an American. And she'd say, well, if you
not do anything wrong, and I think, well, that's not
how this ought to work. Do we really want the
government coming into your office and say, hey, I need
to look through your desk. Well, I'm in the middle
of working, and no, I'm like, this is my private desk.
(22:03):
H we're going to look through it. Well, who knows
what you have in there. But it's not for them
to decide whether that's what you should have in your
desk or not. A sex toy, a drug, a girly magazine,
a pistol, a keepsake from your grandmother, It doesn't matter.
(22:24):
That is the whole point of the individual and privacy.
We have to be careful that we understand what we believe,
that we understand what we believe, and that we teach
that because young people don't learn these things on their own.
They have to understand the basis of our libertarian principles,
(22:46):
the basis of our nation's founding, the basis of capitalism,
the basis upon which the wealth of nations was premised.
Adam Smith wrote in seventeen seventy six, a document as
important as our Declaration of independent independence. That is true,
and Adam Smith was influencing Thomas Jefferson as much as
(23:07):
Jefferson was influencing Adam Smith. And Smith was writing on
the laws of economics that had not yet been established
as scientific laws had not yet been proven, that the
idea of free trade among the individual not nations was revolutionary.
(23:30):
The girls all get pretty at closing time when you're
listening to the Michael Berry Show, And I just confirmed
I was pretty certain. But the penny will still be
accepted as a representation of currency, So in making a purchase,
(23:51):
I can't imagine very many people are going to turn
down your pennies. I used to love Ramon. My mother
would get from the bank and I would roll the
family's coins, and it was such a good feeling to
you know, to pack in like a sausage, the pennies
(24:11):
into the roller and then you close it on both
ends and then you know, kind of pop it on
the on the table. The penny was good to die
was fined the quarter when you had a whole sleeve
of quarters that you were taking to the bank. That
thing that's that's like a rod you could bust somebody
(24:32):
in the head with. Yeah, it was a thing of beauty. Ramon,
can I get the theme for Mash? Are you a
Mash fan? Not a Mash fan? Did you ever watch it?
Have you ever seen an episode? Okay, just didn't speak
to you. Mash was so big. I mean, if you're
talking about ten most influential, we tend to think of,
(24:54):
you know, the modern stuff that got so so incredibly big,
like Seinfeld, right Sheer, those sorts of things. But in
terms of influence in its day, which preceded me. I
mean I did watch it as a kid, but its
real influence was preceded me. I think the fact that
it was going on during Vietnam really probably helped it
(25:18):
a lot. And it wasn't announced to my knowledge that
it was actually the Korean War that this was happening.
But you know, some North Korean military officials, we lose
our music. Thank you, we're executed for this. I mean,
can you imagine if so low Cam has a new
(25:41):
warship that they five thousand ton destroyer and watching a
vessel be put into the water a pretty interesting thing
because you got to get it up to the edge
and he again push it in there and it's always outward.
You see them launch these these super yachts and all that.
(26:04):
When that thing goes in the water, it's not a
pretty process. And every time I see it, I think, man,
thing looks like you could capsize. Well this one did,
this one did. The story from the Sun.
Speaker 10 (26:17):
Kim Jongmun watched as North Korea's newest warship was crushed
in a catastrophic launch. According to South Korean military analysis,
the vessel is lying on its side in the water.
The furious Supreme Leader said it was a criminal act
caused by absolute carelessness irresponsibility and could not be tolerated.
The ship appears to be of the same class as
the five thousand ton destroyer that North Korea launched last
(26:39):
month in April, tyrant. Kim jong un unveiled North Korea's
largest naval destroyer that could house a vertical launch pad
capable of firing nuclear missiles. The giant's warship was expected
to substantially boost North Korea's naval capabilities.
Speaker 7 (26:51):
In a chilling warn into the West, the.
Speaker 10 (26:53):
Normally rosy official Korean Central News Agency announced there was
a mishap which left some sections of the warship's pot
him crushed. It said the accident managed to destroy the
balance of the warship. South Korea's military said US in
Seoul intelligence authorities assessed that North Korea's side launch attempts
of the ship failed.
Speaker 2 (27:10):
Ouch off with their heads. It's actually not the first
time North Korean military has had such a mishap. Remember
when they tested a hydrogen bomb. Okay, gentlemen, hydrogen bomb
is ready to be tested. Please a lorch, dear Lido
Kim jong un a master own the hydrogen bomb is
ready for testing. Eh, very good, rich, prepare for lunch.
(27:33):
All right, everyone, this is not a test. The peoples,
the Republic of Korea, is it ready for experimental hydrogen
bomb detonation? Ready on your command? You we talked Okay,
everyone rich do it?
Speaker 3 (27:43):
Don't need the bomb?
Speaker 2 (27:44):
Detonate the bomb?
Speaker 8 (27:45):
Hydrogen bomb detonation on the CEO titles free true.
Speaker 9 (27:52):
Wow, a bomb detonation complete.
Speaker 6 (28:02):
Where did it work?
Speaker 4 (28:03):
The bomb appears to have detonated successfully, But what happened
to have voices?
Speaker 9 (28:07):
The effects of the bomb appeared to have changed the
way we speak genre just Jory talk. Did you remember
to foody bomb with hydrogen.
Speaker 2 (28:15):
Or kirium bom?
Speaker 9 (28:17):
It appears I have fiody boma furium saw assisted cure, Yes,
Delida have my dogs eating wrench today? No, dear reader good.
Speaker 2 (28:37):
A new Senate report reveals that Biden officials actively took
steps to quote delay warning the public end quote for
months in twenty twenty one about the potential risks of
heart related complications from the clock shot the ones that
killed my brother. The report from Senator Ron Johnson's office
(28:58):
as starting in Februar worry of twenty twenty one, federal
health agencies had been alerted to large reports of myocarditis
in young people who received the Pfizer vaccine, but waited
until late June that year to adjust the vaccine labels
to make that side effect known. The report States quote.
Even those CDC and FDA officials were well aware of
(29:20):
the risk of myocarditis following COVID nineteen vaccination. It's not
a vaccine, but whatever their injections, they don't actually serve
as a vaccine. The Biden administration opted to withhold issuing
a formal warning to the public for months after this
about the safety concerns jeopardizing the health of young Americans.
(29:41):
As The New York Post points out, doctor Tracy Beth Hoagu,
who consulted for Florida's Department of Health as an epidemiologist
at the time, had one of her tweets labeled misleading
for making an observation about the risks of myocarditis that
showed up in vaccine studies around June of twenty twenty one,
even after health officials adjusted the labels, end of juels
who raised concerns about myocarditis were targeted. Philadelphia cardiology clinic
(30:05):
owner A Niche Coca's Twitter account was suspended for ostensibly
linking to a review of post vaccine myo carditis. It
is dangerous stuff and they didn't want you to know.
It's just that simple.
Speaker 3 (30:29):
Got the cover, got the booster.
Speaker 10 (30:42):
Gooding a booster to happy.
Speaker 3 (30:50):
Wells'll do this down. They're keeping me down. I'm backing
in a Maxies see if you get right back on
their being boo hoole. She said I needed the vaccine.
Boom how she said up be safe for the vaccine.
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