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Thread: Can Trillion Dollar Coins Save the Economy?

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Rhapsody1447 View Post
    This what you were thinking of?


    Just thought of....

    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?

    "Ya load 16 trill and whadaya get..."

    The Dems have a new theme song.

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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.
    ...and the politicians who say you have to pass the bill in order to see what's in the bill....

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by BmanMcfly View Post
    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.
    It is not going to be enough (certainly not with out creating an extreme distortion in the economy, because of trying to fit 10 pounds of mud back in a 5 pound sack…with that sack now having other important uses that it did not before).

    Then, using a percentage value, you start losing what you [supposedly] had as a positive in using precious metals. Actual backing.

    Note that I say supposedly because gold is the original fiat currency (well not the original one, but an old one and from the beginning one). Gold’s value was rooted in fabricated, social conventions. Ironically that is not as true anymore, because of its use in things like electronics (which is something that makes its use as a currency problematic). But historically it was largely the case.

    As for 1’s and 0’s, there is more than that backing currency. Yes, there is trust involved. But forgery is not particularly more (or less) difficult now than in times past, as it is an ongoing arms race of means and testing with a good deal of interest in advance both ends of that.

    Further, there is truly backing for paper money/digital money. Of course it is subject to bombs blowing up that backing and other issues. But if our paper money really goes entirely to hell in a hand basket we’ll have bigger issues to worry about. Not the least of which is the economic drag of not having these great tools that help our economy run as smoothly and as it does.

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Jerry View Post
    ...and the politicians who say you have to pass the bill in order to see what's in the bill....
    A remarkably dumb string of words to put together in front of a camera, to be pulled out of context. *shrug* However, the reality is not exactly what it is usually made out to be. The passing in question was NOT final passage but the means to get to the proposed final draft of the bill which still required a vote over acceptance or not.

    Put into that context, it does show how byzantine and quirky the process of government is at times. ((Something that orating full texts of bills for every vote would only add to.)) But clearly not what it is generally sold as.

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Rhapsody1447 View Post
    This what you were thinking of?

    Now that is an amazing large heap of BS. Where did you get that from, what is this “Zero Hedge” source, and are they really peddlers of such misinformation or did someone hijack their name?

    http://minerals.usgs.gov/minerals/pu...2010-plati.pdf

    Yearly global sales of Pt to industry total around 300t. US domestic mining, alone, in only 2009 was 16t.

    EDIT: Oh, is that this http://www.zerohedge.com ? Well a quick perusal suggests that if someone inappropriately attributed them as the source, at least they can not have done any meaningful damage to Zero Hedge’s reputation as a reliable source.
    Last edited by Dwight; 01-08-13 at 11:59 PM.

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Fenton View Post
    What budget ?

    And exactly WHY do we need an ever increading debt ?
    Why do you need your job?

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Dwight View Post
    Now that is an amazing large heap of BS. Where did you get that from, what is this “Zero Hedge” source, and are they really peddlers of such misinformation or did someone hijack their name?

    http://minerals.usgs.gov/minerals/pu...2010-plati.pdf

    Yearly global sales of Pt to industry total around 300t. US domestic mining, alone, in only 2009 was 16t.

    EDIT: Oh, is that this Zero Hedge | On a long enough timeline the survival rate for everyone drops to zero ? Well a quick perusal suggests that if someone inappropriately attributed them as the source, at least they can not have done any meaningful damage to Zero Hedge’s reputation as a reliable source.
    Looks like it was a typo in the source they quoted (which correctly lists the annual production at 130 tonnes/year): Interesting Facts about Platinum

    I guess I should have vetted the graphic better before sharing it. Woops.
    "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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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Rhapsody1447 View Post
    I guess I should have vetted the graphic better before sharing it. Woops.
    No worries.

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    Re: Can Trillion Dollar Coins Save the Economy?

    If my math is right, a $1T platinum coin would have to weigh almost 20,000 tons to be worth it's face value at today's spot-market price.

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