Posted on 03/21/2020 6:31:56 PM PDT by DeathBeforeDishonor1
Rep. Rashida Tlaib has proposed sending everyone in the United States $2,000 immediately and then $1,000 per month to counter the economic fallout of the coronavirus pandemic.
The Michigan Democrat's plan would be financed by having the Federal Reserve create new money on behalf of the Treasury. To skirt the federal debt limit, the U.S. Mint would create two $1 trillion coins, and the Treasury would deposit them in its account at the Fed.
Tlaib, a member of the small group of left-wing freshman House Democrats known as "The Squad," described the plan as a "truly universal relief proposal."
I fully support the @FSCDems #COVID19 economic response proposal. I also want to encourage leadership to consider my truly universal relief proposal on behalf of #13thDistrictStrong.
Under Tlaib's proposal, everyone in the U.S., including illegal immigrants, would receive a $2,000 debit card immediately, either through the mail or by having a dedicated government corps seek them out. Families would receive that amount for each family member. The cards would then be refilled with $1,000 monthly until one year after the end of the crisis.
(Excerpt) Read more at washingtonexaminer.com ...
If I put that trillion dollar coin in a coke machine, I bet I don’t get all my change?
Why involve the Federal Reserve and create more debt?
Congress can “coin money and regulate the value thereof”. Having coined two trillion dollars and depositing same in the Treasury, the Treasury can issue US Notes and deposit them into special accounts created for this purpose by all chartered banks using people’s social security numbers.
There is NO REASON to continue the system of creating money by increasing the people’s indebtedness to the Federal Reserve.
Tlaib for Presidnet!
Why not mint 328,000,000 $1-trillion coins and give one to everybody?
We haven't stopped at $22 trillion, who says we can't?
I like the loaves-and-fishes Bloomberg plan promoted by CNBC. Take 350 million and give everybody in the country one million!
A 10 oz. platinum bar costs around 6,500 dollars, so it would take roughly 153,846,154 10 oz. platinum bars, or 96,153,846 pounds, to make a 1 trillion dollar coin. 8>)
Not sure anyone could deliver it to anyone, even if someone does have that kind of wealth to afford one. 8>)
It’s not printing!
It’s minting.
A quarter is not worth $0.25....
It really doesn't matter how you print money. It's inflationary, and robs from those who create to give to those who first get the new money.
Where would you get change?
Can anyone say Hyper-inflation?
It’s minting."
So true.
That's a keeper going forward.
Do I have to get a debit card? Can I get $1200 a month in Applebees gift cards?
bits....
At the current platinum price of $619.35/ounce (=$22.11/gram) we would need a coin with a radius of 328 feet and a thickness of 4.8 feet, approximately. And of course, we need two of them.
Just answer that new email where Warren Buffet promises to give you 1 million bucks in coronavirus help because your email has been randomly selected from a list of victims.
True, but we are willing to accept the discrepancy, because it is accepted as having a quarter value in the marketplace. Someone with a trillion dollars is not going to be so forgiving, and neither would the marketplace. 8>)
We could just say we did it and save ourselves the trouble.
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