[massgopguy]

Lawrence “Lost” Tribe.

[allendale]

If minting a 1 trillion dollar platinum coin is the end point of Obama economic policy that has failed to produce real wealth, then the Administration will have jumped the shark and be laughed out of office. Chinese must be really happy holding 2 trillion in treasury notes and just can’t wait to trade them in for two of those coins. Delusional and comical , but emblematic of a declining America that consumes more than it produces.

[Iron Munro]

What do democrats do when they aren’t stealing money from taxpayers, tearing down America, trashing Christianity, promoting homosexualism, pedophilia, juvenille sex and abortions?

They dream up schemes like this to bypass and undermine the US Constitution and promote one party tyranny.

[alancarp]

Okay, then, Mr. Tribe: why stop there?? Let's mint a single 1 Quintillion dollar coin and declare that we have enough money on deposit at the federal reserve for the next 1000 years of Democrat Party chaotic spending. Then mint a second one.

New Democrat mantra: Great power means exercising no responsibility whatsoever.

[K-oneTexas]

Lets look on the bright side ... we only gotta sell 17 of them. Some Saudi friends of his maybe will take this one.

Personally, I might go with a Saint-Gaudens $20 Gold Double Eagle or 1916-1947 silver Walking Liberty half dollars.

I'll pass on the political gimmicks.

[djf]

What good is minting a coin if you can’t buy anything with it?

And if you COULD buy something with it, what would that “something” be? Congress? Yosemite?
What exactly?

And who would end up “owning” the coin? The People of the United States? The Federal government?

The PRIVATE BANK, the Federal Reserve?

No way this can end up good.

[Common Sense 101]

The idea is for the Treasury Department to mint a platinum coin and declare it to be worth $1 trillion.

Any of these a$$ clowns familiar with the economic concept of intrinsic value? Let's see... the last time I checked, the current spot price of platinum was around $1,600/ounce, so that coin is going to have to be awfully large. Third world economics espoused by the idiots surrounding a Third World dictator wannabe....

[uncommonsense]

So obviously the Treasury has no balance sheet relationship between assets and liabilities. Striking a coin that costs a buck or two somehow puts $1 trillion onto the asset side. No bonds need to be sold, no liabilities need to be debited - poof, more "money" is magically available to spend or pay bills. No inflation adjustments need to be made to indexed obligations like Social Security.

No wonder why Dingy Harry hasn't bothered to approve a budget in 4 years!

[FerociousRabbit]

I think it is a great idea. When someone wants to buy a loaf of bread I can charge people to haul a mountain of $100 bills in my pickup for them so they can make that purchase.

My charge would be a handful of those chocolate coins another poster mentioned. At least the chocolate has a bit of intrinsic value.

[TexasRepublic]

I can’t think of a better symbol for the hyperinflation ahead than a trillion dollar coin. The administration has signaled its intentions to write off the public debt by inflating the dollar’s value to virtually nothing. Those bass turds are totally bankrupt — spiritually, morally, fiscally.

I advise everyone to flee paper and invest in tangible assets, such as gold, land, ammo, tools and food.

[fhayek]

They debate the legal ‘loophole’ aspect of this but say nothing about whether or not it makes even a shred of economic sense. Again, the game is to beat the Republicans. The welfare of the country as a whole be damned.

[diverteach]

So exactly how is minting a single coin valued at one trillion dollars different from just printing one trillion dollar paper bills?

It isn’t!

[mykroar]

"I don't think it makes sense to think about this as some sort of "loophole" issue

So, this isn't a loophole - but businesses that are dropping employees and hours because of Obamacare is a loophole. Got it.

[StormEye]

"The idea is for the Treasury Department to mint a platinum coin and declare it to be worth $1 trillion."

Only Congress has the power to coin money and set the value of such money. But the socialist Obama and his Democrat Party won't let that stand in their way:

---

Some of Section 8 of the Constitution:

"The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;

To borrow Money on the credit of the United States;

To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes;

To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States;

To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;

[DPMD]

And soon, only three of them will buy you a loaf of bread.

[Vaduz]

A coin worth 1 trillion on paper,only he can think like that.
Warm up the rubber room he’s ready.

[St_Thomas_Aquinas]

Wouldn't it be cheaper to use copper?

You have to hand it to them. Platinum is a nice touch. Great way to win over the low information voters.

[LifeComesFirst]

If the federal gubmint of the US resorts to inflationary financing on that scale to pay its bills, then there will be an unparalleled global depression, an economic ww2, from the resulting hyperinflationary spiral.