POLL: Should the US Mint issue a $1 Trillion Pt Coin to help settle the US debt?

The idea would be ridiculous if we were talking about debt held by private investors or foreign governments. But the idea has merit when talking about debt held by the Fed. The interest on the Treasury securities held by the Fed is going to be refunded to the Treasury Dept anyway, and the only usefulness the bonds have is that the Fed can sell them someday to reduce the money supply. They have other tools to do that so the bonds aren't necessary, but just a burden on the American people. I'm happy someone finally pointed out that the bonds can be cancelled with no downside to anyone.

 

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J P Morgan would know what to do.
Anyone here practice necromancy?

 

I think it is a great idea. Make the coin and then we can all get more free stuff. :thumb:

 

The coin is a tool. It can be used to relieve debt servitude, or it can be used to wreck the remaining prosperity we have if it is used for "free stuff." It is the use of the tool that will detemine whether it is a blessing or destructive. If it is destructive, don't blame the tool.

 

A jubilee is a-comin' ... one way or another.

 

Oh you people just haven't thought through the fun in visiting 'Big Bertha' and buying key-chains to prove it, LOL

 

Mint the coin! Extend and pretend! Maybe people would understand less if we printed it on paper and then sold it to the Fed, like we do now with T-bills.

 

If you think this cannot be done, READ the latest from the former US Mint Director Phillip Diehl (he helped write the current law-loophole):
http://pragcap.com/philip-diehl-for...dresses-confusion-over-the-platinum-coin-idea

I think this was intentional, now.

 

you guy do understand that if they make this coin it willl be a 1 oz of platinum with the face value of 1 trillion. and nobody will ever see it since it will be locked up at the FED.

 

They are talking about it in Washington already:

http://www.businessweek.com/articles/2013-01-08/will-the-white-house-kill-trillion-dollar-coin-talk

 

In order to monetize this coin, the Fed would have to pay for it out of their coffers. The whole premise is not to create any more debt and still make out with the cash. I guess they could pay for it in Presidental Dollar Coins.....

 

The DemonCrats are clueless about money. The Nation is in trouble with two fake party's!

 

No news from the WH/Mint, yet. Platinum's UP and still rising with the story.

See Krugman's latest "Rage Against The Coin":
http://krugman.blogs.nytimes.com/2013/01/08/rage-against-the-coin/

 

There isn't much of a chance that the coin will ever be minted and used. This is probably a good day to sell platinum.

 

Krugman's still on it. Larry Tribe says it's do-able.
http://www.businessinsider.com/lege...trillion-dollar-platinum-coin-is-legal-2013-1
http://krugman.blogs.nytimes.com/2013/01/09/barbarous-relics/

But can someone explain this bit from VF?

http://www.vanityfair.com/online/da...-Totally-Not-Real-Totally-Scaring-Republicans

My take-away from this WSJ Op-Ed is the US Dollar is waaaaay overvalued (propped) and that's an EXCELLENT reason to hold PMs "no matter what."
Paper Collapse is a terrible Black Swan to behold, but it's flown many many time in countless currencies before ours. And dysfunctional govt is one of the reasons, in fact.
http://online.wsj.com/article/SB10001424127887323442804578231520502687316.html

"Got Gold? Got Platinum?"

 

Very informative explanation of the economics (money-supply issues) at The Economist: http://www.economist.com/blogs/freeexchange/2013/01/economics-platinum-coin-option

I had not heard this particular 'super-currency' for the 1% and corporations discussed before, something like an SDR?

Here's an informed history of the Trillion $ Coin concept and explanations how the coin ordering/minting/shipping/billing actually works:
http://www.thestreet.com/story/11808255/1/the-13-people-who-can-order-a-1-trillion-coin.html

It stands to reason that in an eleventh hour 59th minute show-down between the Legislative & Executive Branches, the $1 Trillion Coin will be a common-looking 1-ouncer. This reverse?
.

 

More traction from the MSNBC News: http://video.msnbc.msn.com/nightly-news/50403664/#50403664

it fits Obama's campaign promise, "Change."