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trillion dollar coins

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  • derrybderryb Posts: 36,978 ✭✭✭✭✭
    they are only good as money if someone will accept them as payment.

    The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong

  • jmski52jmski52 Posts: 22,930 ✭✭✭✭✭
    I'm in for one at around $1,549.00.image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    Trillion dollar coins just raise the specter of places like Zimbabwe that have had hyperinflation.

    Why would it necessarily need to be made out of platinum? Even if gold and silver have some limits on the denominations that can be produced by the mint, it seems to me that they could make the coins out of aluminum, steel, palladium, rhodium, or many other metals.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
  • johnny9434johnny9434 Posts: 28,470 ✭✭✭✭✭


    << <i>I'm in for one at around $1,549.00.image >>

    sounds like a plan
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭


    << <i>I'm in for one at around $1,549.00.image >>



    Ha, ha, u make joke comrade. Dear Leader charge comrade $1.3T. Ha, ha, is funnie, no.
  • zrlevinzrlevin Posts: 734 ✭✭✭


    << <i>Trillion dollar coins just raise the specter of places like Zimbabwe that have had hyperinflation.

    Why would it necessarily need to be made out of platinum? Even if gold and silver have some limits on the denominations that can be produced by the mint, it seems to me that they could make the coins out of aluminum, steel, palladium, rhodium, or many other metals. >>



    If (and there is absolutely a zero percent chance) this happens, they will only need to make one or two. Why bother figuring out how to make a coin out of any other metal when you can just tack some more zeros onto an existing platinum eagle die?
    Zach
  • mhammermanmhammerman Posts: 3,769 ✭✭✭
    "...they will only need to make one or two"

    Hummmmmmmmmm Actually, they need to make 16 of them...just short of a roll.
  • zrlevinzrlevin Posts: 734 ✭✭✭
    No one said they needed to pay off the debt; just use one to hold off the debt ceiling.
    Zach
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭


    << <i>"...they will only need to make one or two"

    Hummmmmmmmmm Actually, they need to make 16 of them...just short of a roll. >>




    That's the simple part. The hard part is to find 16 essentially "priceless things" worth $1 TRILL each to form into those coins. But then, what do you use to buy that $16 TRILL
    worth of material? I know, $16 TRILL in freshly created FED digi-dollars. Lather, rinse, repeat.
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭


    << <i>No one said they needed to pay off the debt; just use one to hold off the debt ceiling. >>



    "We don't have a spending problem."
  • CaptHenwayCaptHenway Posts: 32,264 ✭✭✭✭✭
    And the stupidity continues......

    http://thehill.com/blogs/on-the-money/1007-other/275927-gop-lawmaker-to-introduce-bill-to-block-treasury-from-making-trillion-dollar-coin
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • derrybderryb Posts: 36,978 ✭✭✭✭✭
    Nothing more than another I.O.U.

    The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong

  • waynemewayneme Posts: 852 ✭
    what if they issued it by mistake hope its my order lol
    well we know the gov would never mess up lol
  • UnknownUnknown
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  • derrybderryb Posts: 36,978 ✭✭✭✭✭
    Adding zeros to money only increases the future need for more zeros - or new money.

    The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong

  • fishcookerfishcooker Posts: 3,446 ✭✭
    Why waste $1500-worth of platinum on it? Just take a pine 2 x 4 and scratch $1 Trillion on it, take a hole saw and cut it out. If you want to be fancy, make it redwood or cedar.
  • derrybderryb Posts: 36,978 ✭✭✭✭✭
    Hilarious:

    Stephen Colbert Takes On The Trillion Dollar Coin

    The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong

  • GBurger717GBurger717 Posts: 575
    Funney I posted about this about 2 or 3 weeks ago, mabye a bit longer and it flopped. Now all of a sudden the major propaaganda news agencys in the US started showing it and it takes off like a wild fire!! Old news that will make it no where
  • derrybderryb Posts: 36,978 ✭✭✭✭✭


    << <i>Funney I posted about this about 2 or 3 weeks ago, mabye a bit longer and it flopped. Now all of a sudden the major propaaganda news agencys in the US started showing it and it takes off like a wild fire!! Old news that will make it no where >>


    Thus the power of the mainstream media.

    The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong

  • CaptHenwayCaptHenway Posts: 32,264 ✭✭✭✭✭


    << <i>Hilarious:

    Stephen Colbert Takes On The Trillion Dollar Coin >>



    One of his better bits!

    image
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • StaircoinsStaircoins Posts: 2,571 ✭✭✭

    So, what would you put on such a coin?

    I propose ...



    image
  • OverdateOverdate Posts: 7,034 ✭✭✭✭✭
    Former Mint Director's view.

    Also a neat photo - similar to a prez buck, which doesn't really circulate either! image

    My Adolph A. Weinman signature :)

  • jmski52jmski52 Posts: 22,930 ✭✭✭✭✭
    This exemplifies Philip Diehl's level of understanding:

    There are no negative macroeconomic effects.

    I rest my case.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • derrybderryb Posts: 36,978 ✭✭✭✭✭
    Let's do it. The quicker we get this over with, the sooner we can build a fix. Creating new ideas to pay for something with nothing only encourages more reckless spending and delays our financial ruin. Nothing is free - the day the balance is due will eventually come.

    The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong

  • CaptHenwayCaptHenway Posts: 32,264 ✭✭✭✭✭


    << <i>Former Mint Director's view.

    Also a neat photo - similar to a prez buck, which doesn't really circulate either! image >>



    Anybody remember Walt Kelly and the comic strip "Pogo?" Ol' Walt could have written this!

    image
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • OperationButterOperationButter Posts: 1,672 ✭✭✭


    << <i>Let's do it. >>



    What do you think will happen to the bond market if they do in fact do this? It wont be pretty
    Gold is for savings. Fiat is for transactions.



    BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
  • mhammermanmhammerman Posts: 3,769 ✭✭✭
    "Creating new ideas to pay for something with nothing only encourages more reckless spending..."

    Nicely put.
  • PokermandudePokermandude Posts: 2,713 ✭✭✭
    I'll gladly pay you Tuesday for a hamburger today!
    http://stores.ebay.ca/Mattscoin - Canadian coins, World Coins, Silver, Gold, Coin lots, Modern Mint Products & Collections
  • braddickbraddick Posts: 24,145 ✭✭✭✭✭
    image

    peacockcoins

  • derrybderryb Posts: 36,978 ✭✭✭✭✭
    "This Is How Money Dies" - Tim Iacono

    The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong

  • CaptHenwayCaptHenway Posts: 32,264 ✭✭✭✭✭
    NBC Nightly News report on the coin:

    linky
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • bronco2078bronco2078 Posts: 10,248 ✭✭✭✭✭


    Slate magazine had a design the coin contest that had some funny submissions

    I vote for the made in china version
  • PokermandudePokermandude Posts: 2,713 ✭✭✭
    Some good submissions on there, but I think this is the best one!

    image
    http://stores.ebay.ca/Mattscoin - Canadian coins, World Coins, Silver, Gold, Coin lots, Modern Mint Products & Collections
  • jmski52jmski52 Posts: 22,930 ✭✭✭✭✭
    Nothing is free - the day the balance is due will eventually come.

    I continue to marvel at how long the scammers can drag out the ponzi scheme and at how the American people are willing to shut their eyes so tightly, in the hope that it's really not a freight train and that they really aren't standing right on the tracks in front of it.

    What I suspect is that the people who think that they are getting a free ride at the moment - will be the ones who ultimately get hurt the most - and they will feel the need to strike out at the ones who continued to warn about the stupidity from the very beginning. The politicians and bankers won't be around to experience the mess - they'll be long gone.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • derrybderryb Posts: 36,978 ✭✭✭✭✭


    << <i>What I suspect is that the people who think that they are getting a free ride at the moment - will be the ones who ultimately get hurt the most - and they will feel the need to strike out at the ones who continued to warn about the stupidity from the very beginning. The politicians and bankers won't be around to experience the mess - they'll be long gone. >>


    Ironically, the first to suffer when the can hits the wall are those on a fixed low income. While the middle class can handle the first signs of inflation and a few extra dollars of expense here and there, those who elected themselves a free ride will get hit the hardest. Poetic justice.

    Of course they will demand higher taxes from those that are really paying their bills. Instead of a cry for a fairer share from the 1% the cry will be for a fairer share from the 53%.

    The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong

  • jmski52jmski52 Posts: 22,930 ✭✭✭✭✭
    While the middle class can handle the first signs of inflation and a few extra dollars of expense here and there, those who elected themselves a free ride will get hit the hardest. Poetic justice.

    What frustrates me most is that the most destructive behaviors and attitudes are now being promoted by policy. Most people don't really deserve what's probably going to occur.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • derrybderryb Posts: 36,978 ✭✭✭✭✭


    << <i>While the middle class can handle the first signs of inflation and a few extra dollars of expense here and there, those who elected themselves a free ride will get hit the hardest. Poetic justice.

    What frustrates me most is that the most destructive behaviors and attitudes are now being promoted by policy. Most people don't really deserve what's probably going to occur. >>


    Those who have let themselves become dependent on the production and labor of others will deserve it.

    The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong

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