Paper Money and the Fed Have Destroyed the Penny and the Rest of Our Money

President Trump has ordered the U.S. Mint to stop producing pennies. The reason is that it’s too costly to produce them. It costs the Mint nearly four cents to produce one penny.

The penny phenomenon is good example of what the federal government — and, specifically, the Federal Reserve — has done to our money. Ever since the Fed and a paper-money system were established in 1913 and the 1930s, the Fed has destroyed the value and stability of American money.

For more than 100 years, the official ...