One Trillion Dollar Coin!

The powers being China I suppose? If you cannot overthrow democracy with war and conflict, then just collapse it financially.

 

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it would be impossible to pay back the debt with tax revenue because if it was raised much higher than it is you get greatly decreasing returns. It's actually probably impossible to even have a balanced budget with current spending levels, even if you raised the tax rate on everyone massively. Let alone start to pay off the debt.

 

China doesn't control anything, they have already probably written off the 1 trillion in U.S. debt as worthless and are stockpiling hard assets in anticipation of dollar collapse. China told their citizens to buy gold and silver even, looks like they are looking out for their citizens more than the U.S. government.

Calling U.S. a democracy is a joke anyways, in many ways China has a freer market than the USA. That's why their economy is growing 8% a year.

 

They do not, agreed. But what happens when we approach the date that the US might default on dept, China buy more bonds, greates confidence in how dept is graded followed with an increase in dept ceiling. Everone is relieved and stock markets continue. They are just helping a little to push the system over.

 

China has already stopped buying U.S. T-bonds, although I believe they are holding onto their current holdings. They might not want to risk angering USA by dumping all their current holdings and flooding the market. USA could respond with tariffs on the goods that China sells us which in the long term could actually cost them probably well over a trillion. So even if they know their T-bonds will eventually be worthless they may still just hold onto them anyways.

I believe China is accumulating gold and other hard assets on the down low. They have many miners in Africa, plus have ramped up mining operations in China. I think pretty much all the gold mined in China stays their according to some reports I've read.

It's hard to say how long the current system can last, but eventually I'd think its going to be so obvious that the USA can't repay its debts without printing that the dollar will have to plunge in value. I don't see how else this can end.

 

Send in your designs:
http://www.slate.com/articles/busin..._economy_saving_1_trillion_platinum_coin.html

Someone already sent in a nekkid Michael Phillips riding a giant eagle...

 

In case this has not been shared, it is former Mint Director Moy's remarks on why this makes no sense.

http://www.cnbc.com/id/100364183

 

The only way to get rid of debt is to pay it off or rip
someone(s) off.

 

The legal reasons could be overcome in an afternoon if Congress had the will. The coin could be designed in an hour since the Mint specializes in ugly coins. It wouldn't be inflationary because the inflation impact already occurred when the Fed purchased the $1T in Treasury securities and put the cash into circulation. This just retires the debt that isn't in private hands anymore. Establishment officials are paid to say that things are very complex and the problems are enormous. That's the way they keep people confused and frightened. It is the source of their power. He even says we must make "tough" decisions, not easy ones. And by tough, he means tough on the American people, not tough for the government. Moy is a fake, a phony and a fraud.

 

Moy oughta SHUT UP, lol. The stealth introduction of a bullion-backed mega-coin will be great propaganda for Gold-Bugs (see: he works at Morgan Gold) and probably benefit collectible coin-retailers too.

As State Quarters did for "collecting" so a Platinum monster should (somewhat)do for US bullion sales. Which have been paltry, anemic - let's get honest about that.

How many Americans own Pt ingot or coin, currently? Answer: Almost NONE! And look who selling: http://www.morgangold.com/product/1-ounce-platinum-credit-suisse-bars/

 

Forbes is blowin' a gasket, and the WH petition FOR THE COIN is 25% there, in just 5 days. Vote early, vote often lol
https://petitions.whitehouse.gov/pe...single-platinum-trillion-dollar-coin/8hvJbLl6

Someone need to circulate the petition at FUN.

 

True, just ranting on about this crazyness. 2008, I lost about 30-40% of everything I invested for something that had nothing to do with South Africa. The problem for me is that, if the US economy sneezes the smaller emerging economies like South Africa get influenza. I just hope that the US can get it together. February is going to be interesting seeing what the US is going to come up with.

 

In the 1980s it was Japan that everyone feared would dominate the economic world. But they collapsed. Now everything is about China. They will be a great economic power this century, but they are still practicing a form mercantilism which was shown to be a failed economic policy centuries ago. Their central banking is in its infancy. People underestimate the US Federal Reserve and how much they have advanced the theory of money. I know it is fun for everyone who holds some precious metals to believe they are smarter than the Fed and that the economy is on its last legs, but it is a good bet that the next 40 years will look a lot like the past 40.

 

Lol I doubt anyone here thinks they are smarter than the Fed, the fed is genius, they are milked the world for trillions of dollars over the past nearly 100 years now. Fed was created in 1913. They have really ramped up their operation though with the creation of the unbacked paper dollar.

I know its fun for you to believe you know what the Fed's true plans are, but somehow I doubt you are privy to their secret meetings that are not open to even U.S. congressman. (well at least not Ron Paul, he was not allowed to sit in on any of these meetings)

I'm sure the Fed knows its all gonna collapse eventually, obviously they are not going to say anything because that would bring about the collapse of the dollar sooner, they've got to milk it for all its worth before it collapses. I'm sure they are under the table buying up many hard assets right now in preparation.

A central bank does not help the economy, China is better off without a central bank. United States most prosperous years occurred when there was either no central bank, or it was in its infancy and not draining the money of the world and the american people.

[video=youtube;rqkxttD-j0Q]http://www.youtube.com/watch?feature=player_embedded&v=rqkxttD-j0Q[/video]

The shining victory of the American people over the international bankers, unfortunately the tides have turned violently in favor of the bankers since then

 

"If you cannot overthrow democracy with war and conflict, then just collapse it financially."

This is exactly what Ronald Reagan did, only he caused a dictatorship, the USSR, to go bankrupt and surrender control of all its satellite states by blindsiding Gorbachev and forcing him to maintain a very high level of defense spending.

On the other hand, OUR simultaneous defense buildup was the start of the uncontrollable surge of our national debt. You can't win.

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There are many Fed-bashing articles on the web, and I know you get a lot of pleasure from it, as do others. This is the Achillies heel of the gold investor. I would never say that the central bank system is the best monetary system, but it is a grave mistake to underestimate them. But it's your choice -- pride or profit.

 

"I'm sure they are under the table buying up many hard assets right now in preparation."


Hold on a minute -- there aren't any hard assets except precious metals. Everything else is debt subordinated to fiat currencies, worldwide. Land? No evidence of that. Real Estate? Price based on its earning power, expressed in declining dollars. Oops, forgot ammo. FEMA has bought enough ammo in the past two years to shoot everyone in North America (ATK signs deal with FEMA for .40 Caliber Ammunition Contract. 450 MILLION ROUNDS!).

I hope you're not counting Treasury bonds, notes, and bills as hard assets.

 

no i am not

 

Where did I say I underestimated them? They are the BEST at making money for their powerful investors.

The best comeback you can make is meaningless platitudes because you know the Fed is a criminal organization and isn't worthy of any respect. Unless you are respecting their ability to rob the world populace and concentrate the world's wealth in the hands of a few.

 

o.k., I laffed. http://www.newyorker.com/online/blogs/comment/2013/01/a-platinum-coin-as-big-as-the-ritz.html

"There is also an argument to be made for simply arguing for a platinum coin. This is akin to Richard Nixon’s madman theory: if the Republicans believe that Barack Obama would really go through with it, they’ll take what they can get and go home. The fantasy here is that, in the middle of the State of the Union, Obama will take a trillion-dollar coin out of his pocket and toss it onto the floor, a flat platinum apple of discord. In the ensuing frenzy, Paul Ryan jumps over several desks, stiff arming cabinet secretaries, Supreme Court Justices, and Marco Rubio, and then falls on the coin and swallows it—only to look up and see Obama twirling a second coin in his hand. Or something like that. The drop-the-mike mastery the platinum coin promises is why, for example, Talking Points Memo has been putting together a list of people whose portrait could be on it. (Ronald Reagan is one, Dr. Evil is another.)"

What is the rule that says if they put a sitting Congressman/Senator's face on it, s/he MUST retire?
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