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paraclete · Jan 7, 2013, 04:27 PM

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$US1 trillion coin debt solution gains currency

So QE has failed and we go to the next phase of fiscal silliness. It is suggested that to mint a $1 trillion coin would do no economic harm. How is this any different to printing $1 trillion iextra n $100 bills and using it to pay the government's bills.

International markets would react by decreasing the value of US currency. If that is what the US government wants then it has mechanisms to do this

speechlesstx · Jan 7, 2013, 06:01 PM

I already raised that silliness days ago.

paraclete · Jan 7, 2013, 06:38 PM

Really, didn't see it, must have been lost amid the other silliness. Seriously, is this a prank

tomder55 · Jan 7, 2013, 07:00 PM

Nadler thinks this is the Weimar Republic

paraclete · Jan 7, 2013, 07:08 PM

Well it is beginning to look that way, tell you what, corner the market on wheelbarrows, there will be a big demand for carrying your money around

speechlesstx · Jan 8, 2013, 05:54 AM

Paul Krugman is on board.

tomder55 · Jan 8, 2013, 06:33 AM

That would be the same 'economist' who claimed we could fix the economy by preparing for an invasion from ET .

speechlesstx · Jan 8, 2013, 07:07 AM

Originally Posted by tomder55

That would be the same 'economist' who claimed we could fix the economy by preparing for an invasion from ET .

That's the one, the guy who turned down the Treasury job even though he wasn't offered the position.

tomder55 · Jan 8, 2013, 08:43 AM

I guess aluminum foil coins are out of the question.

excon · Jan 8, 2013, 09:34 AM

Hello:

I don't know what you're complaining about.. Although it's bit slower, we're doing the EXACT the same thing with our paper money.

excon

speechlesstx · Jan 8, 2013, 09:53 AM

Originally Posted by excon

Hello:

I dunno what you're complaining about.. Although it's bit slower, we're doing the EXACT the same thing with our paper money.

excon

Who isn't complaining about it? Oh I know, the poorest who don't have a clue that all this "quantitative easing" hurts them disproportionately and who just may think that taxing the rich is going to make things all better, even though the rich are going to pass those costs on to them making their cost of living even higher. Maybe they can get some government tortillas to help out if there's anything left of the corn crop after wasting it on ethanol.

paraclete · Jan 8, 2013, 01:22 PM

Originally Posted by tomder55

I guess aluminum foil coins are out of the question.

The first innovative idea, I knew you had it in you Tom

speechlesstx · Jan 8, 2013, 02:48 PM

Originally Posted by paraclete

The first innovative idea, I knew you had it in you Tom

And they double as hats.

speechlesstx · Jan 8, 2013, 04:04 PM

Here's my version of your new trillion dollar coin...

Make your own here.

paraclete · Jan 8, 2013, 07:06 PM

Originally Posted by speechlesstx

And they double as hats.

Yes that's why Tom had the idea

speechlesstx · Jan 8, 2013, 07:09 PM

Originally Posted by paraclete

Yes that's why Tom had the idea

I know.

paraclete · Jan 9, 2013, 03:57 AM

Originally Posted by speechlesstx

I know.

Here are some newly minted coins

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Tuttyd · Jan 10, 2013, 03:26 AM

Perhaps in 10 years time a wheelbarrow of them will buy a loaf of bread

paraclete · Jan 10, 2013, 04:57 AM

Originally Posted by Tuttyd

Perhaps in 10 years time a wheelbarrow of them will buy a loaf of bread

Do you think we will have to wait that long

paraclete · Jan 11, 2013, 05:01 PM

I've been thinking about this coin thing and the government wants to raise cash, right, after all it bled $260 Billion in the last month. The traditional way is to sell Bonds but with low yield they are not attractive, and a $1 trillion coin is, well, passee, no individual could own it. However, what if it were to mint a million $1 million coins and sell them. There are many who could afford a $1 million coin and for the superrich perhaps a $100 million or even a $1 billion coin on application, There may even be an international market for it