If you’ve been following the news, you may have heard that the U.S. ended production of the penny. Pennies have been in our circulation for over 230 years but now they’ve become obsolete, according to the government. Even though we can continue to use pennies in circulation, new ones won’t be made any longer. A Nevada man is just as baffled as so many of us at the end of the era for the penny. However, he says there may be something more sinister at play.
John (@johynridgeway) posted a TikTok explaining his take on the U.S. ceasing penny production. Even though the government is treating it like it’s not a big deal, John says it “will actually affect a lot of people.” He first thought about how you won’t be able to get exact change back so stores will have to round, leaving them with a bigger profit. But then he looked at it from a poverty standpoint. It’s pretty scary what it could mean if he’s right.
John explains that taking away the penny could be a “chain reaction to them getting rid of currency” altogether. This means that we would eventually be living in a cashless society. John says that people would need a phone and electricity if we were to be completely cashless. Unfortunately, not everybody can afford a phone and electricity to access their money. There are a lot of issues that come with not being able to access technology but this is a reality so many people in poverty face.
On top of these issues, John said that it would be even more difficult to access money in a cashless society if there are spyware attacks. Now, he says, “There’s no way to actually go about getting any other means of having that money.” He said this could lead to a domino effect and it all starts with removing the penny. Our country could definitely be looking at digital currency only in the future, and that can be somewhat terrifying.
One commenter agreed with John. They added, “It also takes away anonymity. It opens the door to people’s money being monitored and controlled. This is also why I have an issue with people wanting to control what goods people on SNAP can buy. ‘If you’re poor, why are you buying something you want instead of what I think you need?’ is already the narrative people are creating.” Another stated, “They’ve been doing this for decades. Homeless people can’t apply for jobs easily since you need an address and an SSN for a W-4 usually. They’re testing to see how far we will let them go.” What poor and unhoused people face on a daily in this country can be somewhat barbaric. The society John explains could very well leave people even fewer opportunities and lead to chaos.
