US Money Reserve President Thinks US Penny Minting Might End

Canada stopped minting their pennies and is using polymer bills now. Will the United States follow suit by ending US penny minting? US Money Reserve President Philip Diehl discussed the demise of the penny during a CNBC Squawk Box interview.

“Cost of Minting Penny Higher Than One Cent”

During the December 30, 2015 Ispot Tv interview, US Money Reserve President Philip Diehl stated the simple fact: “Nobody uses the penny anymore.” Many pennies are strewn on the road or lost in seat cushions. Mr. Diehl suggested that the time spent picking up a penny is not economically worthwhile because it amounts to less than minimum wage.

As a Former US Mint Director, Mr. Diehl understands the cost of minting pennies. He estimated that $105 million could be saved annually with the elimination of the penny.

“Currency Changes Are Normal”

Mr. Diehl continued – only 25% of modern transactions use physical cash, the other 75% use electronic means. Wise currency reform is conducted a “step at a time.”

Doesn’t ending the penny cause inflation?

On February 4, 2013, Canada stopped minting pennies. Canadian businesses were forced to adjust all their prices to 5 cent increments. Mr. Diehl has argued that some companies might increase prices, others might decrease prices relating the US Reserve.

The most valuable currency reflects the needs of the public. The end of the penny is simply part of the process of finding money that is the most useful for any time period.

“Why has the United States been slow to replace the penny?”

Old habits are tough to change. Already, the US Mint has changed its process for creating pennies – the modern US penny is 97.5% zinc. The parties who mint the pennies naturally resist change.

The State of Illinois has also resisted since native son, Abraham Lincoln is on the cent. Plus, United States currency is used worldwide – it is tough to change such a ubiquitous currency quickly. Still, the days of the US penny may be numbered.

Doe Deere’s Ideas For a New Refreshing Look

On the style side, trends that were popular during the 1970s such as wearing socks with open-toed shoes are now available in the modern fashion world. Doe Deere is one of the pioneers in the makeup industry who suggests her clients to break rules that are associated with conventional fashion. Here are some of them.

1. Rule to Break – Do not wear bold lips with bold eyes

Replacing dull makeup colors with dark and bold ones is relatively easy and affordable. In fact, it is not difficult to change the entire look with these colors. Want to transform a conventional look into a stylish celebrity one? Give some extra hue to the eyes with dark brown or black eye shadows. Wear eye lashes to enhance the look as well. In the modern world, bold lip colors make a great display of your natural beauty. There are colors and brands that are suitable for lips and eyes that Doe Deere would like to recommend. Her videos and blogs also show how to apply the makeup correctly.

2. Rule to Break – Do not wear too many colors and patterns

Doe Deere says it is okay to wear too many colors and patterns at the same time. However, when wearing different colors and pattern it is important to keep in mind the overall style both of the outfit and accessories. If you choose a look that is different than your normal look, select the colors that are compatible, at least. This way you may create an eyesore in the crowd. As you consider this new trend, also take a good look at what you have in your closet that makes sense with the makeup you are wearing. Will the additional accessory create a pleasant focal point or will you regret the change later? Also consider the color of the makeup and make sure it goes well with your appearance.

3. Rule to Break – Do not wear socks with high heels or open-toed shoes

People who need a jolt of warmth during winter can wear a pair of socks with their heels or open-toed shoes. Whatever color you decide, wearing socks is the easiest way to set the trend for a while. With one switch, you can go from a barefoot to colorful delight. Plus the right socks color and pattern can make the look more appealing as well. The key to embracing this trend begins with knowing about the different combination of socks and other accessories. Doe Deere’s blogs tell us about how to do this in the right manner. Wearing socks is functional as well. Wearing it with heals makes it ideal as an alternative to ugg boots which can get very hot during summer.

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Fashion Rules That Doe Deere Loves to Break

The fashion and beauty entrepreneur, Doe Deere, has often broken many of the laws that are common in her industry. This should not come as a surprise to her fans, as Deere likes to promote the idea of using fashion for freedom and self-expression rather than meeting industry standards. Here are her favorite rules she likes to break.

1. Don’t mix bold eye makeup with bold lipstick. Deere says that she breaks this rule almost on a daily basis. When it comes to makeup, her favorite look is Red Velvet lip mixed with Blue Milk eyeliner.

2. Don’t have too many colors. Deere has her own advice when dealing with color, saying that color coordination is needed when using multiple shades. This goes for hair and makeup as well as clothing.

3. Don’t mix a lot of patterns together. Similarly to the second rule, the fashion industry warns people that mixing too many patterns could lead to a visual mess. Deere disagrees, but insists that she will keep patterns within a complimentary scheme.

4. Don’t wear socks with high heels. Deere admits to being a sock addict. She owns over 100 pairs of socks. Socks are one of her favorite pieces of clothing to have fun with, and no outfit feels complete without a pair.

5. If you have unnaturally dyed hair, you should only wear black or neutral colors. Fashion rules seem to be very intent on people not showing off too much color or personality, something that Deere fights against.

6. Dress your age. On the topic of age and fashion, Deere says, “True style knows no age!” Her fashion idol is fashion designer Betsey Johnson, a 73-year-old who wears tutus and bright colors.

7. Only dress up on special occasions. “I believe that clothes are made to be enjoyed, so I rarely save outfits for a ‘special day,” says Deere.

Doe Deere’s unique style seems to resonate with many people. She has been called one of the top female entrepreneurs by Self-Made magazine. Her colorful style is reflected in her brand. Deere is the co-founder and CEO of Lime Crime Cosmetics, a brand full of colorful and cruelty-free products.