Yep. And the media should be roundly criticizing such insanity. But instead they will applaud the move, like the disgusting lapdogs that they are.
Anyway, if the idea goes through here’s my suggestion for the design of the coin.
Posted on 10/06/2021 7:04:17 AM PDT by ChicagoConservative27
WASHINGTON (AP) — Some politicians think they’ve found a silver bullet for the impasse over the debt limit, except the bullet is made of platinum: Mint a $1 trillion coin, token of all tokens, and use it to flood the treasury with cash and drive Republicans crazy.
Even its serious proponents — who are not that many — call it a gimmick. They say it is an oddball way out of an oddball accounting problem that will have severe consequences to average people’s pocketbooks and the economy if it is not worked out in coming days.
(Excerpt) Read more at breitbart.com ...
We should mint a trillion, trillion dollar coins.
Why not mint 350 million of them and give a trillion dollars to each of us? Free money!
In fact, its not so different from how the Federal Government funds itself now, in that before they created debt, to be purchased mostly by the Federal Reserve, now they will merely create a coin instead.
Its merely the next logical step downwards into currency debasement and political expediency. Before, you needed both parties in government to agree to the scam. Now it becomes even more whimsical as Joe Biden can do it himself.
We are heading to a currency collapse.
This is one last paper over the cracks thing.
Golly. A mystery. No one knows if wishing a trillion dollars into existence might cause inflation. Guess we'll find out.
Yep. And the media should be roundly criticizing such insanity. But instead they will applaud the move, like the disgusting lapdogs that they are.
Anyway, if the idea goes through here’s my suggestion for the design of the coin.
This gives me an idea for taxes : ). I think Krugman floated this idea years ago. I hope they do it, done with this fraud of a system.
What about if we go spend our trillion dollar coin at Target or Wal-Mart or the supermarket. Will they be able to make change for a trillion dollar coin????
sarcasm
Was just thinking the same thing. If the R’s ever get power again, they should close this loophole.
So would acquiring gold, silver, platinum, palladium, copper be a wise thing to do?
My guess..yes. These metals have been currency since the beginning of recorded history. When paper $$$ becomes werffless and governments around the globe attempt all electronic currency...ya prolly be glad you’re holding hard assets.
Juss sayin.
Why waste the time and resources ‘minting a coin’, when scribbling an “IOU” on some single-ply toilet paper would do just as well?
Then it might have some intrinsic value.
Will Nancy ever wonder why her bank account of $150 million is now only $15 million ? LOL
They fielded that idea back in the Obama days.
$trillion coin. Lolololol.
After they mint the Trillion Dollar Coin, we’ll all need one to buy a loaf of bread.
The “loop hole” is a constitution power of Congress to “coin money”. If they use this procedure it is a joke of course on us as it is just a means to sidestep the moving goal posts of a debt limit.
That’s only about 35,000 short tons.
Pocket change...
A trillion bucks is roughly a billion oz.
There are ≈8 million oz of Pt bullion on the entire planet.
This singular coin would sop up ≈125 times the entire world's available Pt.
No more Pt for catalytic converters, therefore no more gasoline powered vehicles.
Just even publicly joking about minting a Trillion coin, pithily exemplifies how they are gleefully devaluing the fiat money. Soon, it will be mathematically impossible to ever pay off the debt (as if any politician would dare bother).
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