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

If you think YES, consider the very real petition that needs another 19,000 signatures LOL
https://petitions.whitehouse.gov/pe...single-platinum-trillion-dollar-coin/8hvJbLl6

 

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How many more threads of this 1 trillion dollar coin are we going to see.

 

Probably a trillion.

I think it's a good idea if only to draw attention to the improbability of paying that much debt. Maybe it will be the catalyst to break the central bank monopoly since it would be just one more step to have the Treasury issue the money directly by spending it into existence. That would also force Congress to deal with the inflationary consequences of their deficit spending.

 

How many more do you want? Mine was the first on the Bullion branch; it's a Bullion topic. I see it elsewhere, maybe it'll hit US Coins next week

http://www.cointalk.com/t220212/

 

Other option - pass a balanced budget amendment. Any sitting congress and president would be thence liable if a balance budget is not passed - and must resign their positions if one is not passed.

 

I think that would just provide political cover for enormous tax increases.

 

unfortunately that'll never happen. If the type of people were in office that would make that type of law and follow it, then there would be no need for the law in the first place.

 

Please feel free to merge my trillion dollar question with this one. It's a lot more entertaining with a survey question. I think the biggest danger of the trillion dollar coin is to let everyone know how bogus our whole monetary system is. It would be like seeing the great and powerful Oz behind the curtain, and might give other countries ideas.

 

Why not mint a decillion dollar coin? With a decillion dollars, we could do away with all federal taxes for 100 years.

 

The idea that a Trillion Dollar coin would somehow get the US out of debt is ridiculous. We are now in the ring of fire with, Greece, Japan, France, Spain, the UK and the US. This year prices are supposed to go up on milk and beef to name only two items. If two items go up, then more are sure to follow. You better believe that things are gonna get worse so the idea of someone pulling a coin out of their posterior to make everything balanced is ridiculous. Someone must have created this idea of a Trillion Dollar coin as a joke. If an idea like this would work it could save a ton of money just when the US needs it. Better hold onto your gold and guns, that's all I gotta say.

 

you're right they need to make (17) trillion dollar coins to get out of debt.

 

I voted for the NO option but I feel that the whole selling my grandchildren was a little over the top ( I guess it doesn't help that I am 19 )

 

I didn't vote because there was no appropriate answer.

This one was close, but it contradicts itself:
NO: sell my thankless (grand)children into debt-slavery instead.

Reason being is that by creating a trillion dollar coin (or bill), it is still monetizing the debt by creating money out of nothing. Just because it may have some miniscule fraction of intrinsic value in platinum doesn't mean it's fundamentally any different than printing FRN's.

Creating this coin is not much different than selling posterity into debt slavery. They will pay with the loss of buying power, through the hidden tax of inflation.

 

I agree and support your reasoning. Thank you!

 

Let's stop the nonsense with the debt ceiling. Before it became political, this was done successfully 19 times! We don't need any coins like that--besides, imagine slabbing that thing!

 

No one said it has to be a 1 ounce coin. How about a 20,000 metric ton coin with a melt value of, oh say a Trillion dollars. I would love to see that one slabed. They would have to grade it with a hellicoper fly-over. I wonder how much an MS70 would bring on Ebay?

 

There isn't enough platinum

http://www.zerohedge.com/news/2013-01-04/putting-trillion-dollars-platinum-perspective

 

This is a long video featuring the author of "The Creature from Jekyll Island" explaining his book which talks about the creation of the "FED". Watch it and then tell me if you think a trillion dollar coin is a solution... http://www.youtube.com/watch?v=lu_VqX6J93k

 

Yeah I didn't vote either for the same reasons you indicated, I don't think we're alone either.