It's settled. The trillion dollar coin ...

Staircoins · January 12, 2013 8:22AM

... ain't gonna happen.

sniocsu · January 12, 2013 9:28AM

Definitely one of the dumber ideas in Washington... Actually I just thought about it. Turns out it was on par with most of the ideas in Washington

OldEastside · January 12, 2013 9:40AM

<< Definitely one of the dumber ideas in Washington... Actually I just thought about it. Turns out it was on par with most of the ideas in Washington >>

Hehehe, I agree, They say housing is upside down, I believe the whole Washington "Think Tank" is upside down! Really, who thinks up
this Crap, we really are in a "Sad State of Affairs"

Steve

WingedLiberty1957 · January 12, 2013 9:43AM

mmm ... I'll take one!

LindeDad · January 12, 2013 10:09AM

<< mmm ... I'll take one!

>>

Wonder how big the stack of paper would be to equate to that?

WingedLiberty1957 · January 12, 2013 10:27AM

<< Wonder how big the stack of paper would be to equate to that? >>

Stacking One Trillion Dollars

TheRegulator · January 12, 2013 10:38AM

Says they won't be minting a platinum trillion dollar coin. Looks like they haven't ruled out plastic. Or cardboard. Or ....

CoinZip · January 12, 2013 1:27PM

"The Treasury Department will not mint a trillion-dollar platinum coin to get around the debt ceiling. If they did, the Federal Reserve would not accept it."

Correct me if I'm wrong, but the Treasury Dept is a US Government agency.........the Federal Reserve is a Private Company.

edited to add....its sad that any one company has this much power over the US Government.

daOnlyBG · January 12, 2013 3:46PM

<< Correct me if I'm wrong, but the Treasury Dept is a US Government agency.........the Federal Reserve is a Private Company. >>

The Federal Reserve isn't a private company. It's a government-commissioned (but not "run," technically) bank, owned by all the major banks who have their assets as liabilities in the Fed's spreadsheets. More often than not, those banks are publicly listed on some stock exchange, not privately held.

In other words, the Fed is a "banker's bank." Nothing like a private company.

Also, lol, if this "fiscal cliff" fiasco has shown us anything, it's that no single body of government has enough power to do anything without cooperation.

PerryHall · January 12, 2013 8:51PM

How big would this coin have to be to contain one trillion dollars worth of platinum to comply with the law that would allow this coin to be produced? Does the government even have access to this much platinum?

Justacommeman · January 13, 2013 12:10AM

Might as well move this one up to the top of the page to join the others.

MJ

TwoSides2aCoin · January 13, 2013 12:35AM

<< Might as well move this one up to the top of the page to join the others.

MJ >>

First Strike ©

metalmeister · January 13, 2013 12:58AM

I like these. Backed by Gold and $ilver. Basic concept kept prices stable for generations.

CaptHenway · January 13, 2013 1:19AM

I like that top center bundle...4,000 $10,000 Gold Certificates = $4,000,000!!!

You could have bought a small country with that bundle back then!

MrHalfDime · January 13, 2013 1:33AM

"The trillion dollar coin ain't gonna happen".

Darn. I was looking forward to collecting them by die variety.

slipgate · January 13, 2013 1:39AM

<< Does the government even have access to this much platinum? >>

There isn't enough platinum on the planet to cover a trillion dollar coin.

Overdate · January 13, 2013 1:55AM

<< 

<< Does the government even have access to this much platinum? >>

There isn't enough platinum on the planet to cover a trillion dollar coin. >>

All that would be needed to produce the coin is enough platinum to show a 1 followed by 12 zeros.

PerryHall · January 13, 2013 2:15AM

<< 

<< 

<< Does the government even have access to this much platinum? >>

There isn't enough platinum on the planet to cover a trillion dollar coin. >>

All that would be needed to produce the coin is enough platinum to show a 1 followed by 12 zeros. >>

It wouldn't be legal. The law that created the ASE's, AGE's, and the APE's is the law being cited as allowing this coin and this law requires the precious metal content to equal or exceed the face value. This is based on an interview with former Mint Director Moy. A clad version would be illegal without congressional authorization.

Staircoins · January 13, 2013 3:37AM

<< "The trillion dollar coin ain't gonna happen".

Darn. I was looking forward to collecting them by die variety. >>

Couldn't happen, MrHD. In keeping with your specialty, you'd need to wait for the release of the Half Trillion dollar coin.

19Lyds · January 13, 2013 4:26AM

<< Says they won't be minting a platinum trillion dollar coin. Looks like they haven't ruled out plastic. Or cardboard. Or .... >>

Plastic and Cardboard are rules out since these substances are not authorized under the current US Code while Platinum is:

"(k)The Secretary may mint and issue platinum bullion coins and proof platinum coins in accordance with such specifications, designs, varieties, quantities, denominations, and inscriptions as the Secretary, in the Secretary’s discretion, may prescribe from time to time."

Note that no specific "denomination" is specified by the law.

31 USC 5112(k)

19Lyds · January 13, 2013 4:29AM

<< "The Treasury Department will not mint a trillion-dollar platinum coin to get around the debt ceiling. If they did, the Federal Reserve would not accept it."

Correct me if I'm wrong, but the Treasury Dept is a US Government agency.........the Federal Reserve is a Private Company.

edited to add....its sad that any one company has this much power over the US Government. >>

That "company" is in actuality nothing more than a "bank" which has many, many, representatives in "appointed positions" within the United States Government.

Timothy Geithner was the CEO of the Federal Reserve Bank of New York before his appointment as Secretary of the Treasury.

Is this kinda like the "Fox" guarding the Henhouse or perhaps the "Wolf" guarding the Sheep?

19Lyds · January 13, 2013 4:39AM

<< 

<< Correct me if I'm wrong, but the Treasury Dept is a US Government agency.........the Federal Reserve is a Private Company. >>

The Federal Reserve isn't a private company. It's a government-commissioned (but not "run," technically) bank, owned by all the major banks who have their assets as liabilities in the Fed's spreadsheets. More often than not, those banks are publicly listed on some stock exchange, not privately held.

In other words, the Fed is a "banker's bank." Nothing like a private company.

Also, lol, if this "fiscal cliff" fiasco has shown us anything, it's that no single body of government has enough power to do anything without cooperation. >>

I don't agree with the "owned by all the major banks" comment since "all the major banks" are "banks which have been authorized" (read approved/allowed) members of the Federal Reserve "System". That "System", which is supposedly government regulated (by the very owners/employees of the Federal Reserve Bank) is separate fromt "The Federal Reserve Bank" which is "funded" by private ownership.

Exactly where would the country be is the Federal Reserve Bank called in its creditors?

WoodenJefferson · January 13, 2013 5:27AM

<< I like that top center bundle...4,000 $10,000 Gold Certificates = $4,000,000!!!

You could have bought a small country with that bundle back then!

>>

Look again, you left $36,000,000 on the table.

It's settled. The trillion dollar coin ...

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