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The Biden administration could sidestep McConnell's refusal to pay America's bills by minting a $1 trillion platinum coin
businessinsider.com ^
| September 19, 2021
| Andy Kiersz and Joseph Zeballos-Roig
Posted on 09/19/2021 8:08:04 PM PDT by lowbridge
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To: hanamizu
Bullion coins issued by countries have a face value, always less more than the market value of the metal.There! Fixed it!
Regards,
41
posted on
09/19/2021 10:59:39 PM PDT
by
alexander_busek
(Extraordinary claims require extraordinary evidence.)
To: lowbridge
During Obama’s 8 disastrous years it was suggested to mint two such coins, each worth 1/2 of the then current national debt and deposit the coins at Fort Knox. Everything old is new gain.
To: lowbridge
CROOKS CROOKS CROOKS! OFF WITH THEIR HEADS OR LOCK THEM UP NOW! CW!!
43
posted on
09/19/2021 11:11:36 PM PDT
by
ldish
(Isn't it time for the TRUTH on the COVID Virus/Vaccine Massacures?)
To: Kickass Conservative
44
posted on
09/19/2021 11:13:41 PM PDT
by
married21
(As for me and my house, we will serve the Lord.)
To: Owen
Whoa.
You nailed it (and educated me, too).
45
posted on
09/19/2021 11:20:21 PM PDT
by
Lazamataz
(I feel like it is 1937 Germany, and my last name is Feinberg.)
To: lowbridge
This stupid idea again...
46
posted on
09/19/2021 11:38:51 PM PDT
by
Vendome
(I've Gotta Be Me https://youtu.be/wH-pk2vZG2M)
To: All; lowbridge
47
posted on
09/19/2021 11:57:18 PM PDT
by
Drago
To: alexander_busek
No, just the opposite.
While modern gold coins are also legal tender, they are not observed in everyday financial transactions, as the metal value normally exceeds the nominal value. For example, the American Gold Eagle, given a denomination of 10 USD, has a metal value of more than $800 USD (being around a half an ounce). - wiki
48
posted on
09/20/2021 3:07:13 AM PDT
by
Moltke
(Reasoning with a liberal is like watering a rock in the hope to grow a building.)
To: Moltke
Darn it: You're right! My apologies to the OP, too!
(There is, of course, also the case of certain low-denomination coins costing more to manufacture than their face value - we're talking pennies and nickels, here - but that is a separate issue, and governments have taken measures to correct that.)
Again: Pardon!
Regards,
49
posted on
09/20/2021 3:24:46 AM PDT
by
alexander_busek
(Extraordinary claims require extraordinary evidence.)
To: alexander_busek
No, threes a lot more silver value in a $1 silver eagle coin, the “$50” gold buffalo has nearly $1750 worth of gold in it.
50
posted on
09/20/2021 4:48:29 AM PDT
by
hanamizu
To: lowbridge
Wouldn’t the government need to buy the platinum? Would that be with borrowed money? I don’t get this workaround.
To: lowbridge
They can find this small loophole but don’t know how to read the words straight forward words in the Constitution?
52
posted on
09/20/2021 4:54:19 AM PDT
by
Openurmind
(The ultimate test of a moral society is the kind of world it leaves to its children. ~ D. Bonhoeffer)
To: alexander_busek
53
posted on
09/20/2021 5:34:13 AM PDT
by
Moltke
(Reasoning with a liberal is like watering a rock in the hope to grow a building.)
To: lowbridge
Just as phony as the rest of the Biden administration.
To: hanamizu
Really? So you can go to a bank and get a one oz. gold coin denominated as $100.00 for $100.00?
That’s one serious ROE.
To: lowbridge
Biden’s next great plan is to sell off moon rocks to lower the debt ceiling.
56
posted on
09/20/2021 9:01:50 AM PDT
by
Vaduz
(women and children to be impacIQ of chimpsted the most.)
To: AFreeBird
Really? So you can go to a bank and get a one oz. gold coin denominated as $100.00 for $100.00?
No, but you can go to the bank with a one oz. U.S. gold coin with a face value of $50 and get a nice $50 FR Note. The ROI not so good. Same thing would happen if I took 4 pre-’64 quarters to the bank, they’ll give me a nice $1 bill.
57
posted on
09/20/2021 9:11:47 AM PDT
by
hanamizu
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