Okay, lemme guess, it’s “Three-Year-Olds Run the Economy Day”?
We should mint a lot of them. If Congress continues spending like Obama is a drunken sailor, then we’re all going to need those trillion dollar coins - for bus fare.
The day the US Treasury prints a Trillion dollar coin, that will be the clearest signal yet to hoard gold, silver and ammunition, get rid of all paper assets, especially all Gov’t bonds, and make sure your loved ones are safe.
Because at that point, we will have become Zimbabwe.
May as well simply print trillion dollar bills, it’s economically just as valid an exercise. I suggest Groucho Marx for the bills portrait.
They stole that idea from the Simpsons. Monty Burns once had a Trillion Dollar bill.
No, we have the Fed to do that for us. sheesh.
Great idea. Just mint and give one to every man, woman and child in America. Then let the feds tax it at 50%. Feds have scads of cash and everyone is a multi-billionaire. Win-win for all ... what could go wrong?
Obama’s picture on one side and a picture of the DNC’s mascot on the other side. That will work!
The government has built a house of cards on the perception of value in the paper dollar, and a platinum coin the size of a silver dollar has more weight than that house of cards can support.
Once Joe Average figures out that sixteen of 'em represent payment for the ENTIRE US government debt, the platinum will hit the fan.
This would not result in massive inflation, because we wouldn't have a gigantic injection of new money into "the system." That is only achievable through massive spending beyond which the economy can handle.
*cough*
These people are probably sitting around laughing their butts off. Why not? The American populace is stupid enough to believe it. Which makes them laugh even harder.
All they have to do is tell the MSM propaganda crew to go for it.
He'd probably drop it and lose it in a storm drain on the way over to the fed...
Not really too outlandish.
By the day Obama, Geithner and Bernanke are done it will take a Trillion Dollar coin to buy a used Ford Pinto.
The next day it will cost even more.
Uh huh. In that same article, Nadler showed his "above-average understanding of economics" by saying that the part of the 14th Amendment saying that U.S. Civil-War debt is indeed debt, somehow means that Congress doesn't have a say in spending any more.
Nadler has an above-average understanding of economics in our experience a fork & spoon.
What would be the difference if it was say ...gold?
Would using platinum deflate the value of hoarding gold?
Should we start buying platinum?
And would that move us from a fiat standard to a platinum standard and really screw-up all the other countries that have been hoarding gold?
Stop spending our money overseas.
Start saving money here.
Enough idiot ideas. Save money now.
“New York, Representative Jerry Nadler came out in favor of the solution (Nadler has an above-average understanding of economics in our experience).”
Maybe if above-average means you have no clue how inflation, the money supply, or currency devaluation work.