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Old 01-04-2013, 12:08 AM
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Apologies if this has been posted already. I just heard and read about this. Some Dems want the Treasury Dept. to mint a platinum coin worth 1 trillion bucks and deposit it with the Fed to skirt the upcoming debt ceiling debate?? http://www.businessinsider.com/sudde...economy-2013-1
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Old 01-04-2013, 12:26 AM
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I so hope they do it.
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Old 01-04-2013, 12:38 AM
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Heck with the inflation we will be getting that one coin might only be worth a 5 spot in the near future. I seam to remember reading about the German monetary system before there fall.
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Old 01-04-2013, 12:44 AM
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If they are foolish enough to do so expect that to be the end of us. Right now all we have in our favor is the rest of the world's fear we will default / devalue our currency. Do that and we will lose our credit rating and our ability to borrow with no real change in our policies that created the debt. We have to learn from our mistakes not just learn to counterfit money which is basically what the Fed is doing even now.

I hate to say it but we need to face the learning curve ahead of us and grow from our mistakes no matter how high the price is because if we do not all we are doing is just repeating the same process.

Also, if they do that it is the end to the savings, IRAs, 401K etc of the middle class so we will be left with 2 classes and that will be the end of democracy in this country because hyperinflation will take hold and God only knows what will follow.

I am sure the idiots in DC can make a good case for it in their minds but they are the same fools who got us into this mess in the first place. How can we teach our children personal responsiblity when we elect these immature morons is beyond me.
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Old 01-04-2013, 01:30 AM
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My brain hurts now...
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Old 01-04-2013, 01:47 AM
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I am not trying to be rude but it is really bothering me that someone came up with this idea or that anyone thinks it is wise. I guess this is how we as a nation got so far in over our heads. Is it just me or shouldn't we be teaching applied history to school kids instead of the names and dates crap we teach. Anyone who thinks this stuff is smart needs to go look up the recent examples of hyperinflation and see the risks involved.
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Old 01-04-2013, 02:02 AM
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Yea, cause it will be this great of an idea.
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Old 01-04-2013, 08:17 AM
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The Trillion $ platinum coin idea has been bouncing around for a while now. It is just another way to open a new credit account we can't afford to pay off.

They have way too many tricks up their sleeves and to few solutions. It would be legal though I believe.
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Old 01-04-2013, 10:06 AM
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They will mint it and then accidentally toss it in a Coinstar.
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Old 01-04-2013, 10:33 AM
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I think some of these economic analysts and reporters forgot to tick off the "studied economics" part of their resume.

We'll just print a 5 billion dollar....wait.




We'll just print a 100 trillion dollar bill and......wait.




****, just print a wheelbarrow load!

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Old 01-04-2013, 12:21 PM
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If more than $7 trillion of (over)spending, bailouts, stimulus and long term handouts did not work to "fix" our economy, no amount of minted coinage will work either.
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Old 01-04-2013, 12:34 PM
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Quote:
Originally Posted by Deadmeat99 View Post
I so hope they do it.
They might as well print off 16 of them while they're at it. If we're just going to print worthless money to pay off imaginary debts, we might as well pay off the whole **** thing.
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Old 01-04-2013, 04:50 PM
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This could have some merit. As long as the coin has a value on it, it could work. Make some up and send them to China - debt solved. We are at zero balance, kick in a flat tax and start from there.
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Old 01-04-2013, 05:59 PM
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Quote:
Originally Posted by Dragonid View Post
They might as well print off 16 of them while they're at it. If we're just going to print worthless money to pay off imaginary debts, we might as well pay off the whole **** thing.
I totally agree. At this point if we're in for a (trillion Dollar) penny, we're in for a pound.
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Old 01-04-2013, 11:04 PM
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People need to stop sweating about the debt. It is all fictional and is real only to the extent that the debt will be used as an excuse to draw in taxes (human capital) and keep us more in line and unable to get ahead. It will also be used an excuse to take away future benefits like Social Security and Medicare which everyone has paid into their whole working life.

If they are going to mint 1 Trillion, they might as well mint 16 Trillion and just pay off the debt and reset the system. This would cause the world markets to go nuts, but I really don't care if bankers and stock brokers take a loss.

The funny thing is that when proposals like this make it to discussion in the mainstream, it just shows how sick our financial system really is these days and how it is all an illusion.
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Old 01-05-2013, 12:41 AM
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Maybe ya'll missed the original theme that this was, at the start at least, a tongue in cheek jab at the right-wing nuts in the House o' Reps that are holding a figurative gun to head of the world economy. Grandma give's up her survivors benefit check or the middle class get's it ! Anyway what starts off as a joke turns into reality too often anymore. The President may just have to save the Congress from its' lunatic fringe with an even lunier super coin. Here's a thought, how about we just go ahead and pay our bills and stop threatening to blow up the economy just when the Presidents programs have turned around the mess of the last right-wing voodoo economics program.
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Old 01-05-2013, 03:34 AM
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Quote:
Originally Posted by dok View Post
Maybe ya'll missed the original theme that this was, at the start at least, a tongue in cheek jab at the right-wing nuts in the House o' Reps that are holding a figurative gun to head of the world economy. Grandma give's up her survivors benefit check or the middle class get's it ! Anyway what starts off as a joke turns into reality too often anymore. The President may just have to save the Congress from its' lunatic fringe with an even lunier super coin. Here's a thought, how about we just go ahead and pay our bills and stop threatening to blow up the economy just when the Presidents programs have turned around the mess of the last right-wing voodoo economics program.
You are dumb. Post less.
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Old 01-05-2013, 03:05 PM
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CNN is reporting this story like its a real option .
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Old 01-05-2013, 04:14 PM
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This is the stupidest **** I have ever heard. If this gets any traction whatsoever, it is a sure sign that the economic collapse is absolutely imminent. They are just making **** up now.
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Old 01-05-2013, 04:18 PM
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Quote:
Originally Posted by Category5 View Post
This is the stupidest **** I have ever heard. If this gets any traction whatsoever, it is a sure sign that the economic collapse is absolutely imminent. They are just making **** up now.
I just figure they are running out of ideas that make sense but you are right and that is what is worrying me.
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