....Didn’t all those supposedly counterfeit bearer bond scandals involve gold-backed bearer bonds issued not by the US Treasury but by the Federal Reserve? Could there then be a relationship between this story and the facts (1) that several countries are now wanting to audit and/or repatriate their gold from London and New York (think GERMANY and BRAZIL here folks), (2) that it appears that the amounts of gold bullion have been massively obfuscated, (3) that it also appears that whatever bullion DOES exist, has been rehypothecated many times over (4) that many gold bars upon delivery have been filled with tungsten, (5) that the bearer bonds scandals represent a possible reality, rather than being mere counterfeits as the government (and some academics) keep reminding us?
Bottom line: I suspect there’s MUCH more going on with this story than meets the eye, but one thing we might conclude from this (crazy) idea: if it’s being talked about quietly but openly, then it is possible that a vast system of corruption is close to being exposed.
If this coin idea is valid then we can just mint a coin of infinite value and live in exquisite luxury for eternity.
I think the idea first came up on the Simpsons.
“it’s been discussed repeatedly in the media since the start of 2013”
That’s the money phrase; perhaps with the idea that repetition begets legitimacy.
—here’s another good one on the subject—last paragraph especially pertinent—
—http://www.mineweb.com/mineweb/content/en/mineweb-political-economy?oid=169218&sn=Detail
No problem, I think the change in my pocket is going to be worth a trillion dollars in the near future.
http://historysshadow.files.wordpress.com/2012/01/zimbabwe-inflation.jpg
A trillion dolllar coin....with dear leaders face on it? Wow!
The Obama groat rammed down your throat?
Talk about massive deflation.
I ‘ll take poker chips from Vegas first, thank you.
Bottom line: I suspect there’s MUCH more going on with this story than meets the eye, but one thing we might conclude from this (crazy) idea: if it’s being talked about quietly but openly, then it is possible that a vast system of corruption is close to being exposed. >>>>>>>>>>>>>
Actually, out t5hug politicians will create a war with countries like Brazil , Germany , who want their gold back.
Note that Iran repatriated all of its gold from Europe back in the early 2000, or late 1990s, if I remember correctly.
Only problem is when they try to exchange it for real dollars.
Then what happens to the economy?
It damage would be less if we defaulted.
So, where would all the platinum for this coin come from?
Of course, they could just mint a dime-sized coin out of platinum and call it a trillion dollars.
The monetary system is all smoke and mirrors anyway.
At the current price, all the platinum ever mined is nowhere near $1 trillion. Therefore, this is nothing more than printing money to pay a debt. They might as well be honest about it and start printing $1 trillion bills. That anyone with (supposedly) more maturity and insight than a 5th grader is even talking about this is emblematic of the rot and stupidity of our political culture in this country. Hyperinflation, here we come!
Sooo uhhh.. what happens when the person they paid with the coin wants to exchange it for cash?
