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 ...
“create two $1 trillion coins”
I’m cheap. I would mint one $2 trillion dollar coin.
Talib, how about you just go back to your goat f**k hole country?
That’s a LOT of catalytic converters we’re gonna have to steal and salvage, LOL.
tlaib is a retrograde nitwit elected by similar defective loser loons .
Why mint a coin?
Chocolate coins would work just as well.
Correct. That’s why just saying we did it would work.
I like Rashida’s idea.
We could also have the U.S. mint create 22 or 23 trillion dollar coins, and pay off the national debt immediately.
It would be a debatable idea even if anyone believed the coins were worth $1 trillion each.
The Fed can invent all the money we need. They can purchase treasuries with freshly minted dollars.
This commie is too stupid to realize the mechanism already exists.
“We would have to sell California to raise the money to pay for this insane plan assuming we could find a buyer.”
That’s funny, but ignorant.
CA has more intrinsic wealth than any other two states combined. Probably 3.
Fae value does not equal metal value.
If it did, $1 Silver Eagles would cost $1 and $10 gold coins would cost $10. And a Sacajawea dollar would cost about 5 cents.
So a $1T face value coin does not need to be worth $1T in metal content.
It remains a joke, though.
This sorry excuse for a Lawyer, + she is one, needs her face slapped by an Iranian/Saudi cut-your-head-off Sorcerer in one big swing of their fist. Someday, someone will do it + I will volunteer $$$ in their defense. She’s not untouchable,she just thinks she is.
(H/T to Ron White)
Let’s declare that tree leaves are hundred dollar bills. We can all stop working and buy whatever we want.
There wouldn't be any debt created, just a deposit into a checking account.
Having coined two trillion dollars and depositing same in the Treasury,
The Fed is the bank that holds the checking account for the Treasury.
the Treasury can issue US Notes
No need to do a coin and US notes, just print the notes.
There is NO REASON to continue the system of creating money by increasing the people’s indebtedness to the Federal Reserve.
Her "brilliant" idea doesn't add debt.
The INSANITY is strong in this camel-humper.
But whatever is used to mint those coins, each one would mean an additional $1 trillion of currency put into circulation. Hyper-inflation anyone?
Chocolate would be my choice.
You sent me to the dictionary.
LOL.
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