25 Jul 2011

Monday funnies

This is so dumb, I can't even fathom...
  1. Congress decides we need a US Presidential Dollar coin program.
  2. People don't buy the coins; they prefer paper.
  3. Then...
    The U.S. Mint sells the coins at face value, using taxpayer money to cover shipping and handling costs. If you want to buy $1,000 in coins, you simply pay $1,000 on your credit card and wait for the shipment to arrive in the mail.

    Credit card rewards enthusiasts leapt at the program. They use a simple strategy: Purchase coins. Wait for coins to arrive in mail. Deposit. Use deposit to pay credit card. Repeat.
In summary:
If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand. --Milton Friedman
H/T to KB

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