Can Uncle Joe throw a football over that mountain?
posted on 01/04/2013 12:55:16 PM PST
(Looting the future to bribe the present)
With a trillion-dollar coin in your pocket, you could drink for free the rest of your life*. “Sorry, all I’ve got is this trillion-dollar coin. Can you break a trillion?”
*Or until Zimbabwe-style inflation takes hold.
These are just as good. These are IOUs.
Lloyd, "Dumb and Dumber"
posted on 01/04/2013 1:12:26 PM PST
(The American Revolution began when the British attempted to disarm the Colonists.)
at current prices of 1550/oz. the coin would weigh 322 tons.
Problem is there is no where near that amount in the entire world.
How about a Powerball Jackpot worth $1,000,000,000,000? Sell 2,000 tickets for a billion bucks a ticket. Makes as much sense.
posted on 01/04/2013 1:19:36 PM PST
They just need to print one of these in US Currency. Problem Solved!
Treasury, which runs the government’s debt-issuance operation, is busy creating about $200 billion of headroom by employing what it calls “extraordinary measures.” That should cover about two months’ worth of borrowing.
So in other words, someone in Treasury is “reducing” spending by 200 billion?
“Fire up the ovens, boys, we got some cookin’ to do!!”
They fact some people are seriously contemplating this “option” scares the living crap outta me...
posted on 01/04/2013 1:29:10 PM PST
Why not invent a coin with a built in counter that changed the number for the value of the coin automatically. It could start out a a 2 cent coin and a few years obama would make it worth $1Billion. A loaf of bread could cost lets say $400Billlion and a drink of water to wash it down might cost $100M.
posted on 01/04/2013 1:31:57 PM PST
(Live well for those that did not make it back.)
Only if it's the size of a Yap coin......................
posted on 01/04/2013 1:34:18 PM PST
by Red Badger
(Lincoln freed the slaves. Obama just got them ALL back......................)
What kind of ludicrous, pie-in-the-sky third world voodoo does it take to believe that inventing a gazillion dollar coin that does not even remotely come close to containing that much platinum is going to do anything at all?
Seriously, what is declaring this thing as being worth this or that supposed to do? Are we going to borrow against pretend equity to create pretend money now?
How many $ Trillions have we already ‘minted’ through QE and other means?
What the author suggests in jest is our current fiscal policy.
posted on 01/04/2013 1:47:32 PM PST
(Tanstaafl - its not just for breakfast anymore...)
I wonder how much Obama is going to get knocked off the National dept by selling off California to the ChiComms.
This is exactly what the Germans did after World War I, in an effort to get rid of their debt. The subsequent inflation ruined the country’s economy.
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