Wednesday, January 5, 2011

"Forever Stamps"

Peter Schiff on the news "this week that all future first class postage stamps sold will be the so–called 'forever stamps' that have no face value but are guaranteed to cover the cost of mailing a first class letter, regardless of how high that cost may rise in the future" — Forever Stamps Tell Us Much.

"Apart from sounding the death knell of the one cent stamp, the news is interesting on two fronts," he writes: "it provides insight into remarkably irresponsible government accounting, and it provides investors with the most attractive Federally-guaranteed inflation protected asset available on the market today."

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Blogger Steve Hayes said...

We've had those for years, and very useful they are too.

12:29 PM  
Blogger The Western Confucian said...

Does anyone in South Africa use them as investments? Probably not given the Krugerrand.

10:14 PM  
Blogger Steve Hayes said...

Not really, though I do tend to buy more than I need immediately, because they'll still be good when the price goes up.

2:40 AM  
Blogger love the girls said...

I haven't mailed a first class letter in years. And have the deteriorated penmanship to prove it.

Now, if they came in Madonna and Child stamps for mailing Christmas cards, they might be useful.

7:38 AM  

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