Rule of Aquisition 102: Nature decays, but latinum is/lasts forever.
Posted on 12/08/2012 10:32:31 AM PST by SeekAndFind
RE: AUSTRALIA LEAD’s THE WAY.
According to this site:
http://wiki.answers.com/Q/How_many_ounces_are_in_a_metric_ton
35,274.6 ounces in a metric tonne.
At about $1700/ounce, that giant coin is worth:
35,274.6 X 1700 = $59,967,500.00
Idiots.
To put things in perspective:
2010 Federal Budget had the gov’t spending $3.552 trillion dollars.
There are 8765 hours in a year:
$3.552 trillion / 8,765 hours = $405,210,571 per hour
That giant Australian Gold coin won’t even sustain our government for 10 minutes.
Ummm... satire, right? Please?
Goverment by college freshman stoner bull session.
This could be a plan, since they seemingly can get away without any limits and still claim it is legal.
For the first time, let me say that I hope they don’t put “In God we trust” on these coins, if they go ahead with it.
Are we insane?
The people running this country are nuts.
Is this called “Gangnon Style” economics?
Nothing problematic about it?? Is he serious?? Even dummies should be able to see the problem with this.
we wish this was satire
It’s dumber than anything we could have attributed to them
“Some economists and legal scholars have suggested that the “platinum coin option” is one way to defuse a crisis if Congress can’t or won’t lift the debt ceiling soon......”
They are due a refund from their schools for turning out defective products.
Congress, not the Bureau of the Mint, has the power “to coin money, and regulate the value thereof”.
“Unless Congress reaches an agreement to raise that borrowing limit, the government will no longer be able to borrow enough money to pay all its bills. Last year, Republicans in Congress resisted lifting the debt ceiling until the last minute — and then only in exchange for spending cuts.”
There you have it.
“We can’t pay our bills at our current spending rate, so we’ll just borro wmore money because it’s too hard to stop spending. Then we’ll spend MORE!”
Also, they believe it is possible to spend ten dollars when you only have three dollars in your pocket.
Rule of Aquisition 102: Nature decays, but latinum is/lasts forever.
Rule of Aquisition 102: Nature decays, but latinum is/lasts forever.
Obama has been looking for a way to completely dynamite the US. Could this be it? His present methods are so labor intensive and require hard work to keep eating at the foundations of society. This could do it all at once.
32150 TROY oz 14.940dwt in a metric tonne.
Some platinum is more equal than other platinums. But so long as they can mint a coin out of platinum that is “worth” $1 trillion, they could print it on paper, too. After all, the melt value of the platinum (even if $60 million because it’s a ton) is negligible compared to the $1 trillion just like the burn-value of the paper would be.
“I like it,” says Joseph Gagnon of the Peterson Institute for International Economics. “There’s nothing that’s obviously economically problematic about it.”
Then why stop there Mr. Gagnon? Make a $20 trillion coin, pay off the debt, and cancel all taxes for the next two years. After that, we just strike a $5 trillion coin annually and live like kings!
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