rhaig 0 #1 December 10, 2012 http://townhall.com/tipsheet/guybenson/2012/12/08/insane_treasury_considers_1_trillion_platinum_coin_to_solve_debt_limit_issue wow... they're actually contemplating this? wow.-- Rob Quote Share this post Link to post Share on other sites
beowulf 1 #2 December 10, 2012 It just doesn't surprise me any more. I can't think of any dumber ideas then that. Quote Share this post Link to post Share on other sites
jakee 1,596 #3 December 10, 2012 Quotehttp://townhall.com/tipsheet/guybenson/2012/12/08/insane_treasury_considers_1_trillion_platinum_coin_to_solve_debt_limit_issue wow... they're actually contemplating this? wow. There's nothing I saw in the article to suggest that anyone from the government or either party is considering it. Sounds more like just a thought exercise from a few independant theorists.Do you want to have an ideagasm? Quote Share this post Link to post Share on other sites
jgoose71 0 #4 December 10, 2012 Quote “I like it,” says Joseph Gagnon of the Peterson Institute for International Economics. “There’s nothing that’s obviously economically problematic about it.” In theory, this is much like having the central bank print money. But, says Gagnon, the U.S. government would simply be using the money to keep spending at existing levels, I just had to throw this quote in there. It goes to show just how "Expert" some experts are. You can find an "Expert" to back just about any position. Just take a look at Obamacare. I truly don't think that they will be able to find enough idiots to back this position. I wouldn't worry about the minting of a trillion dollar coin any time soon. Not even from the Obama Administration..... But I'm not going to put any money on it...."There is an art, it says, or, rather, a knack to flying. The knack lies in learning how to throw yourself at the ground and miss." Life, the Universe, and Everything Quote Share this post Link to post Share on other sites
regulator 0 #5 December 10, 2012 I wouldnt be so sure...just look at all the idiots that voted obama in office. Quote Share this post Link to post Share on other sites
beowulf 1 #6 December 10, 2012 They pretty much are doing that already when the FED monetizes the debt. Whether the FED creates lots of dollars by buying US debt, MBS's or mints a new coin and calls it a trillion dollars it's pretty much the same thing. Quote Share this post Link to post Share on other sites
jgoose71 0 #7 December 10, 2012 QuoteThey pretty much are doing that already when the FED monetizes the debt. Whether the FED creates lots of dollars by buying US debt, MBS's or mints a new coin and calls it a trillion dollars it's pretty much the same thing. Yes, but it's been a slow process spread out over many years. We have seen the gradual devaluation of the dollar and the slow, but steady rise in cost of everything. People have been having to cut back and skimp a little more each year. Now imagine what would happen if a couple of trillion dollar coins were issued and Americans were forced to make all these adjustments over night? I'm sure the press would do there best to shield Obama, but it might be hard sell even for Chris Mathews if people were hit by such a huge shift almost over night."There is an art, it says, or, rather, a knack to flying. The knack lies in learning how to throw yourself at the ground and miss." Life, the Universe, and Everything Quote Share this post Link to post Share on other sites
lawrocket 3 #8 December 10, 2012 What's the difference between a single trillion dollar coin and a 10 billion hundred dollar bills? (I know - the thought of 10 billion hundred dollar bills is pretty much beyond comprehension). My wife is hotter than your wife. Quote Share this post Link to post Share on other sites
DiverMike 5 #9 December 10, 2012 Apparently, by law they cannot just print 10 billion hundred dollars bills and put them into circulation. QuoteUnder law, he noted, there’s a limit to how much paper money the United States can circulate at any one time, and there are rules that limit how many gold, silver and copper coins the Treasury can mint. But there’s no such limit when it comes to platinum coins. For the same reason I jump off a perfectly good diving board. Quote Share this post Link to post Share on other sites
beowulf 1 #10 December 10, 2012 QuoteQuoteThey pretty much are doing that already when the FED monetizes the debt. Whether the FED creates lots of dollars by buying US debt, MBS's or mints a new coin and calls it a trillion dollars it's pretty much the same thing. Yes, but it's been a slow process spread out over many years. We have seen the gradual devaluation of the dollar and the slow, but steady rise in cost of everything. People have been having to cut back and skimp a little more each year. Now imagine what would happen if a couple of trillion dollar coins were issued and Americans were forced to make all these adjustments over night? I'm sure the press would do there best to shield Obama, but it might be hard sell even for Chris Mathews if people were hit by such a huge shift almost over night. Yes, you are right the difference is in the speed. I think the end results will be pretty much the same. Quote Share this post Link to post Share on other sites
rhaig 0 #11 December 10, 2012 Quote There's nothing I saw in the article to suggest that anyone from the government or either party is considering it. Sounds more like just a thought exercise from a few independant theorists. that's what I get for posting pre-coffee.-- Rob Quote Share this post Link to post Share on other sites
