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America's TRILLION DOLLAR Coin. BS or not?

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platinumcoin_wiki.jpg

 

Since the USA wants to pull another pony trick out of it's hat by minting a trillion dollar coin (yes I'm being serious) in the hopes that it will offset the budget deficit and foreign debt so that the economy can continue in it's unsustainable trajectory - what do you guys make of this trillion dollar coin solution?

 

http://business.fina...ericas-economy/

 

 

Here's what I think: They are dreaming.

 

I think it's time to wake up, smell the mustard and get moving on this shit. Get it sorted. Go through with it and join the rest of the world as a fairer more appropriate member of humanity. This is not a reflection of the people, just the way the US economy works is just not sustainable and the "correction" means hard times for all those over there. Time to harden the f**k up and get on with it I think.

 

usa-bop.png

 

PETER SCHIFF on The CONSUMER ISLAND

 

Peter Schiff : “…"Some people that got stranded on an island, and I think it was 6 or 7 were Asians and there was one American and as soon as they were on the island they had to divide up the jobs. And one Asian was given the job of fishing, the other one was hunting, one of them got the job of gathering fire wood. So they all had jobs, and the American was assigned the job of eating. And so at the end of the day, they would all gather around and prepare this feast and the American would sit there and eat it. But he would´nt eat it all, he´d just leave enough crumbs so he could give to the 6 Asians so they could go on and repeat it again tomorrow, spend all day preparing a meal for the American to eat. Now, the way modern economists would look at it, they would say "Well, this American is vital to the whole island economy. Without him nobody would have to fish, nobody would have to hunt, nobody would have to gather fire wood. He is creating all this employment on the island". But the reality is, every Asian on that island, his lot in life would be dramatically improved if they kicked the American off the island because now they would have a lot more to eat or maybe they wouldn´t have to spend all day hunting and fishing and they can lay on the beach a little bit"….”

Source:

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Total bullshit, how could anybody think this would solve stupid America's problems

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is it possible buy investing in a trillion dollar coin , there for allowing the controlling banks to use there invested currency as a pick me up so to speak for the economy , does this mean that investors in the coin are only helping boost the finances of the country till such time they want there money back ? like loaning the country a trillion dollars ?

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Perhaps the lesser of two evils; better than defaulting.

 

Republicans are biting off the proverbial nose.

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I'd first of all stop going to war with every other country.

 

For example.

 

307659_391534400933687_1592391396_n.jpg

 

herp-derp-faces-funny-33.jpg

Edited by Rolled Cambers

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^^^ that is beautiful! :lol: so funny..... cos it's true!

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+ 1 good find RC :lol:

Edited by brent47

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Lol you guys really need to look into things before you make judgement :P

 

The "trillion dollar coin solution" is not related to debt payment, it's a legal way of continuing government spending without messing up the debt limits..

 

BOTTOM LINE: This won’t create hyperinflation, and it’s not the solution to all of our economic problems. It’s just a way to stay within the law, while avoiding the debt ceiling nonsense.

 

So yeah, it's a silly idea but it's not really as detrimental to, well, anything, as it sounds.

 

One of a million articles on it: http://business.financialpost.com/2013/01/04/have-you-heard-about-the-trillion-dollar-coin-and-how-it-could-save-americas-economy/

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+ 1 good find RC :lol:
It's in pics of the day..

 

I posted in here as well since it is more related to this thread.

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Lol you guys really need to look into things before you make judgement :P

 

The "trillion dollar coin solution" is not related to debt payment, it's a legal way of continuing government spending without messing up the debt limits..

 

BOTTOM LINE: This won’t create hyperinflation, and it’s not the solution to all of our economic problems. It’s just a way to stay within the law, while avoiding the debt ceiling nonsense.

 

So yeah, it's a silly idea but it's not really as detrimental to, well, anything, as it sounds.

 

One of a million articles on it: http://business.fina...ericas-economy/

 

yeah... thats... my... link... O_o that i used right at the top. lol

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America needs more than a trillion dollar coin. Last I checked their debt was over 16 trillion.. All it would do is buy a bit more time without solving the underlying issues.

Although such a coin wouldn't be going into the money supply as such, surely it would still have an inflationary effect of sorts? The rest of the world would start selling off their USD, bringing down the value of US currency. How much longer until USA has Zimbabwe style million dollar notes haha?

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Read an article. It has nothing to do with debt and won't cause inflation.

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Government sells bonds (paper) to Reserve Bank or America. Reserve bank manufactures currency. Financial institutions buy currency and put it it their vault which increases their operating capital. People withdraw currency from atms / buy products and services etc, injecting money into the economy (which is their hard earned coin). Original currency stays in vault of banks, in theory owned by the government still. So money has been created on a whim really. Hence why the government had a debt they can't pay... of course unless they have some magic source of revenue. Ie privatising other nations resource utilisation and public services. Not that that would ever happen. Cough.

As they say Google is your friend. But! They also sell your browsing habits and demographic for money though. But hey, everyone does!

These thing make me like cars, less strings. Less, not no.

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its a beautiful stupid loophole solution countering a massively stupid arbitrary debt limit - i love it

 

Note: will have nothing to do with inflation

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As they say Google is your friend. But! They also sell your browsing habits and demographic for money though. But hey, everyone does!

have a source for that one?

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America will never be free of debt again at this rate. If it is easier for them to find and employ this loophole to get around the debt regulation, rather than just raise the taxes and decrease the debt, I am very concerned for their future.

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Don't be. They don't give a shit about anyone elses :lol:

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Don't be. They don't give a shit about anyone elses :lol:

Winner.!!!!!

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platinumcoin_wiki.jpg

 

 

 

 

PETER SCHIFF on The CONSUMER ISLAND

 

Peter Schiff : “…"Some people that got stranded on an island, and I think it was 6 or 7 were Asians and there was one American and as soon as they were on the island they had to divide up the jobs. And one Asian was given the job of fishing, the other one was hunting, one of them got the job of gathering fire wood. So they all had jobs, and the American was assigned the job of eating. And so at the end of the day, they would all gather around and prepare this feast and the American would sit there and eat it. But he would´nt eat it all, he´d just leave enough crumbs so he could give to the 6 Asians so they could go on and repeat it again tomorrow, spend all day preparing a meal for the American to eat. Now, the way modern economists would look at it, they would say "Well, this American is vital to the whole island economy. Without him nobody would have to fish, nobody would have to hunt, nobody would have to gather fire wood. He is creating all this employment on the island". But the reality is, every Asian on that island, his lot in life would be dramatically improved if they kicked the American off the island because now they would have a lot more to eat or maybe they wouldn´t have to spend all day hunting and fishing and they can lay on the beach a little bit"….”

Source:

 

Then the asians could pool their combined wealth and then redistribute it evenly! Sounds like an excellent idea...comrade

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Oh hai there Mao :lol:

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