Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Putting A Trillion Dollars Of Platinum In Perspective
Zero hedge ^

Posted on 01/04/2013 12:55:12 PM PST by Perdogg

So you want a trillion dollar platinum coin? Ok: here are some facts:

•Platinum has traditionally been the most valuable precious metal for one simple reason: it is rare. •It is so rare, that all the platinum ever mined could fit into a 25 cubic foot box.

(Excerpt) Read more at zerohedge.com ...


TOPICS: Business/Economy; Politics/Elections
KEYWORDS:

1 posted on 01/04/2013 12:55:16 PM PST by Perdogg
[ Post Reply | Private Reply | View Replies]

To: Perdogg
Well, this answers the question


2 posted on 01/04/2013 12:58:30 PM PST by Las Vegas Ron (Medicine is the keystone in the arch of socialism)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Perdogg

I’ve got some of it in the case of one of my watches and a 3ft by 2ft screen of it from a customer who use to plate IC’s with it.


3 posted on 01/04/2013 1:13:38 PM PST by Vendome (Don't take life so seriously, you won't live through it anyway)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Las Vegas Ron; Kevmo
It's an arbitrary pricing trick the Democrats are stupid enough to think will fool the goobers. You don't need a trillion bucks worth of platinum ~ you just say a few ounces of platinum is worth a trillion bucks. Governments can do that.

At the same time platinum itself would become so valuable it'd be worth stealing cars just to melt down their catalytic converters ~ which use platinum.

Then there's the Low Energy Nuclear Reaction (LENR) experiments that are dominated with platinum based processes. They would be wiped out of existence.

It might be worth looking into the identity of the folks peddling the platinum coin idea. Do they come from the high energy physics community? Or, are they perhaps from the LENR community seeking to make gazillions out of their metal stock on hand!

4 posted on 01/04/2013 1:15:09 PM PST by muawiyah
[ Post Reply | Private Reply | To 2 | View Replies]

To: Perdogg

Okay - so what about those platinum credit cards then ?? AMEX Platinum card???


5 posted on 01/04/2013 1:18:23 PM PST by SkyDancer (Live your life in such a way that the Westboro church will want to picket your funeral.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Las Vegas Ron

You mine 16 tons
What do you get?
Another day older
And deeper in debt...


6 posted on 01/04/2013 1:21:28 PM PST by Buckeye McFrog
[ Post Reply | Private Reply | To 2 | View Replies]

To: Perdogg

The Left has learned the trick of “one off” issues. Take something straightforward which can’t be done, add some obfuscating twist which seems to provide an easy workaround, and leave your opponents tying themselves in knots screaming “you can’t do that!” and blathering on about legalistic details, while the perps plow ahead with something else.


7 posted on 01/04/2013 1:21:45 PM PST by ctdonath2 (End of debate. Your move.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Las Vegas Ron

and to think zerO’s ego dwarfs even that.


8 posted on 01/04/2013 1:23:47 PM PST by SparkyBass
[ Post Reply | Private Reply | To 2 | View Replies]

To: muawiyah

They come from the community of illusionists.


9 posted on 01/04/2013 1:24:09 PM PST by Zeneta (Why are so many people searching for something that has already found us ?)
[ Post Reply | Private Reply | To 4 | View Replies]

To: muawiyah

Exactly. That’s what they floated out there - mint a platinum coin at the value of a trillion dollars. At least you’d have actual value of metal compared to a paper note stamped with one trillion on it. Either way it’s no different than how fractional reserve lending or derivatives create money out of nothing. At least we’d have a tangible platinum coin instead of paper or a computer entry.

And as long as we’re considering it, mint up around 200 of them to cover the 200 trillion in derivatives that will tank the entire world economy if/when they crash.


10 posted on 01/04/2013 1:26:59 PM PST by Secret Agent Man (I can neither confirm or deny that; even if I could, I couldn't - it's classified.)
[ Post Reply | Private Reply | To 4 | View Replies]

To: Perdogg

Well my PPLT stock ain’t done much lately. But I have it as an inflation hedge anyways.


11 posted on 01/04/2013 1:28:46 PM PST by BipolarBob (Happy Hunger Games! May the odds be ever in your favor.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Perdogg

Mint a coin out of Uranium instead and make POTUS wear it around his neck by telling him it is the Nobel peace prize.....


12 posted on 01/04/2013 1:42:59 PM PST by GraceG
[ Post Reply | Private Reply | To 1 | View Replies]

To: muawiyah
You don't need a trillion bucks worth of platinum ~ you just say a few ounces of platinum is worth a trillion bucks. Governments can do that.

But they aren't talking about a "free platinum" policy, where you could take your ounce in, get it minted into a million dollar coin, like in the "free silver" days. They are saying they can take one specific ounce of platinum and decree it to be a trillion, by stamping on some writing. Your catalytic converter's value would be unchanged.

It's just debt free "fiat" money. only it's 99.99999% fiat and .000001% metal.

13 posted on 01/04/2013 1:44:33 PM PST by NeoCaveman (Let it burn, let it burn, let it burn)
[ Post Reply | Private Reply | To 4 | View Replies]

To: Buckeye McFrog

LOL...brilliant!


14 posted on 01/04/2013 1:46:40 PM PST by Las Vegas Ron (Medicine is the keystone in the arch of socialism)
[ Post Reply | Private Reply | To 6 | View Replies]

To: muawiyah

as well as the platinum used in the chemo drug cisplatin..


15 posted on 01/04/2013 1:46:48 PM PST by RitchieAprile (the obstreperous gentleman..)
[ Post Reply | Private Reply | To 4 | View Replies]

To: Perdogg
So you want a trillion dollar platinum coin?

A $1T platinum coin is just another IOU. Might as well just paint it on birch bark.

16 posted on 01/04/2013 2:24:52 PM PST by DakotaGator (Weep for the lost Republic! And keep your powder dry!!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: NeoCaveman
No, that's the whole point about the use of precious (that is 'rare') metals as the basis for a currency ~ governments can set their valuation at whatever they wish!

You'll notice that even now we did not return to free coinage of gold and silver ~

There's another possibility here ~ the guys advancing this notion have heard some information from very classified sources suggesting that some LENR experiment using platinum really paid off, and the stuff really is worth the big bucks ~ they just don't know why. Rest assured if there's another exceedingly valuable use for platinum it's market value will climb to meet the nominal value

17 posted on 01/04/2013 2:26:33 PM PST by muawiyah
[ Post Reply | Private Reply | To 13 | View Replies]

To: Secret Agent Man

Mint the damn coin outta Uranium and give it to Obama and tell him it is the Nobel peace prize and he has to wear it around his neck for the rest of his term...

Sadly his daily cigarette habit will do the same thing so is this really needed?


18 posted on 01/04/2013 2:36:42 PM PST by GraceG
[ Post Reply | Private Reply | To 10 | View Replies]

To: Perdogg
that all the platinum ever mined could fit into a 25 cubic foot box.

Really? That would be a cube less than three feet on a side. I wonder if they mean a cube 25ft on a side?

19 posted on 01/04/2013 2:44:53 PM PST by sand88
[ Post Reply | Private Reply | To 1 | View Replies]

To: muawiyah

“you just say a few ounces of platinum is worth a trillion bucks”
Agreed!
Fancy schmancy plantinum isn’t needed. Just print a trillion dollar note!


20 posted on 01/04/2013 3:24:40 PM PST by griswold3 (Big Government does not tolerate rivals.)
[ Post Reply | Private Reply | To 4 | View Replies]

To: Perdogg
I read an article which mentioned congress would need to vote on the image that would be on the coin.

Apparently, it needs to be someone who is deceased so Uboma is not allowed.

The article mentioned that Reagan was a possible candidate.

That pretty much made my blood boil.

I would never want Reagan's likeness tied to one of the stupidest things ever done by the government. Hundreds of years from now they will look back at this coin as a symbol of the end of our civilization.

21 posted on 01/04/2013 3:46:25 PM PST by nitzy (You can avoid reality but you can't avoid the consequences of avoiding reality.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: muawiyah

I haven’t heard that much about Platinum in LENR experiments being valuable. I’ve heard of Palladium. Also whatever the catalyst to go from H2 gas to H1 gas, usually Tungsten. Maybe something fancy & radioactive like Technetium, but I doubt that one.


22 posted on 01/04/2013 11:58:06 PM PST by Kevmo ("A person's a person, no matter how small" ~Horton Hears a Who)
[ Post Reply | Private Reply | To 4 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson