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Thread: Can Trillion Dollar Coins Save the Economy?

  1. #151
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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by j-mac View Post
    Any Ideas as to why the demo's have not passed a budget in over 4 years now?
    Well there is this.

    Democrats' budget bill: $1.1 trillion; 1,900 pages - David Rogers - POLITICO.com

    That is effectively a budget, or at least a significant functional part of it, from a hair over 2 years ago. The GOP are in a growly, dickhead mood. Have been for…oh, 4+ years now. Since they got majority in the House (start of 2011) they have managed to screw up sabotage the process with to even greater effect. So, to answer your question in shorter form;

    “The passive-aggressively children [in the red shirts], the ones crying that there has been no budget.”

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Dwight View Post
    Well there is this.

    Democrats' budget bill: $1.1 trillion; 1,900 pages - David Rogers - POLITICO.com

    That is effectively a budget, or at least a significant functional part of it, from a hair over 2 years ago. The GOP are in a growly, dickhead mood. Have been for…oh, 4+ years now. Since they got majority in the House (start of 2011) they have managed to screw up sabotage the process with to even greater effect. So, to answer your question in shorter form;

    “The passive-aggressively children [in the red shirts], the ones crying that there has been no budget.”
    And they'd better read all 1.9K pages on the floor of the house. Every word.

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Jerry View Post
    And they'd better read all 1.9K pages on the floor of the house. Every word.
    On the house floor! Because the Constitution says to do it that way!**


    ** No, not really. But I have found that the overlap between people that insist on gimmickry like orating every single word of a bill on the floor, and people that have a very hard time reading the Constitution (or at least believe silly things they are told are in there) have a curiously high overlap.

  4. #154
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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Dwight View Post
    Well there is this.

    Democrats' budget bill: $1.1 trillion; 1,900 pages - David Rogers - POLITICO.com

    That is effectively a budget, or at least a significant functional part of it, from a hair over 2 years ago. The GOP are in a growly, dickhead mood. Have been for…oh, 4+ years now. Since they got majority in the House (start of 2011) they have managed to screw up sabotage the process with to even greater effect. So, to answer your question in shorter form;

    “The passive-aggressively children [in the red shirts], the ones crying that there has been no budget.”

    Good to see that Politico continues with the expected 'carrying the water' for the Obama administration and demo's...House republicans have repeatedly sent up budgets over the years only to have Reid refuse to even bring up the process. The President has submitted a couple of "budgets" that were shot down unanimously by the senate, the most recent being 97-0. And you bring up a stunt that Senate demo's tried to pull before they lost the house in '10? That is really laughable.
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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Dwight View Post
    What that article leaves out is that it what the GOP brought to the floor wasn’t a ‘budget’ in the sense. It was only the top line numbers, roughly 2000 pages short of an actual Congressional budget (it was only about 50 pages long).

    In short a trap, a gimmick, a GOP election campaign stunt to sell as a “historic rejection of a sitting President”, roughly speaking a shuck and jive that would make P.T. Barnum proud. But certainly one that they have gotten a LOT of mileage out of, sucking in rubes like you. *shrug*
    Why did Obama introduce it then?

    Why hasn't there been any budget at all or any interest in that direction?

    Obama could have promised a budget during his next four years but that will never happen either. All sorts of records are being broken with this President, and none of them positive.

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Dwight View Post
    On the house floor! Because the Constitution says to do it that way!**


    ** No, not really. But I have found that the overlap between people that insist on gimmickry like orating every single word of a bill on the floor, and people that have a very hard time reading the Constitution (or at least believe silly things they are told are in there) have a curiously high overlap.
    So, the constitution doesn't matter?
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by j-mac View Post
    Does anyone realize that a "trillion dollar platinum coin" would be about 39,000,000 pounds? On a serious note, are we to now believe that progressives are putting stock in non fiat currency?
    It seems that the contents of the new coin is not important. We'll just pretend it's value is $1,000,000,000,000.

    Playing "Let's Pretend" seems to be a popular game these days.

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Jerry View Post
    And they'd better read all 1.9K pages on the floor of the house. Every word.
    They'll be instructed to pass it before they can read it, and the sheep will obey.

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    Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Dwight View Post
    To mint two $1T coins using market value amounts of gold would require, roughly, 20% of all the gold ever mined.

    P.S. That is a fundamental problem that people urging a return to the gold standard do not, I think, realize. The world has simply outgrown gold.

    EDIT: Incidentally I am not certain if $2T worth of platinum has been mined, in total?
    In a sense, yes, but it's possible to limit growth to within a measure of the value of owned commodities (like gold, which has maintained its purchasing power for thousands of years. Why not a combination of gold, silver, platinum, etc? If that's not enough, then make it a percentage value backing the currency in use.

    The problem is that 1's and 0's backing your currency is dependent on a level of trust, and any computerized system can be compromised (in many of the same types of ways that currencies are manipulated today).

    You are probably right about the lack of mineral to make the coin that has a trillion dollar value... Almost definitely the 2T$.

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Jerry View Post
    I was gona do some fancy math and see how big the platinum coin would have to be in order to be worth a $1T but it turns out that Platinum is worth slightly less than gold: Live Gold, Silver, Platinum, Palladium Quote Spot Price Chart - Kitco

    Platinum, and even palladium, is the wrong material. I think the President is looking for a $1T coin made of Unobtainium.
    This what you were thinking of?

    "There is an excellent correlation between giving society what it wants and making money, and almost no correlation between the desire to make money and how much money one makes." ~Dalio

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