• The Trillion Dollar Coin - how it could save America’s economy!
    80 replies, posted
[QUOTE=US Goverment]I've got an idea! Instead or sorting out our debt, we could just redefine the word "debt" to suit us best![/QUOTE]
[QUOTE=Eltro102;39097065]basically, bits of governemnt don't want to wait for congress to raise debt ceiling, so they temporarily pretend that they have 1 trillion dollars less debt (by spreading out over many treasury accounts or just pretending it isn't there)[/QUOTE] But... Why does an arbitrary debt limit exist if it can be raised by a simple vote? And why would there be a crisis if it's reached? I've studied economics for three years and it still doesn't make the least bit of sense to me.
And then you go to the bank to get it into pennies.
[QUOTE=Mike Tyson;39097157]And then you go to the bank to get it into pennies.[/QUOTE] This would take a good few tens of thousands of years.
What does/will this mystery coin look like exactly?
[QUOTE=Stopper;39097119]But... Why does an arbitrary debt limit exist if it can be raised by a simple vote? And why would there be a crisis if it's reached? I've studied economics for three years and it still doesn't make the least bit of sense to me.[/QUOTE] Because of a law stating that if the arbitrary limit is reached, some other laws will come into effect or something like that. Those laws will cut budgets massively or something I think.
[QUOTE=Stopper;39097119]But... Why does an arbitrary debt limit exist if it can be raised by a simple vote? And why would there be a crisis if it's reached? I've studied economics for three years and it still doesn't make the least bit of sense to me.[/QUOTE] tradition, nobody's cared to reappeal it or w/e idk
[QUOTE=yawmwen;39096330]it wouldn't have the same effect as long as the money doesn't actually enter circulation. btw this doesn't solve out debt or pay for anything, this would only(supposedly) get around the debt ceiling restriction so we don't go on the verge of financial crisis every fucking year.[/QUOTE] What do you think the government would do with that shiny, new trillion-dollar coin? The idea is that they dodge the debt ceiling by spending money without creating new debt. That money they're putting in the pockets of their contractors and employees would lose any real backing. It is injecting money into the economy, just via paychecks instead of banks. This is (a particularly stupid way of) dodging the real problem, which is setting arbitrary debt limits and giving that power to Congress.
[video=youtube;YD3RNouwvOU]http://www.youtube.com/watch?v=YD3RNouwvOU[/video]
the government doesn't do anything, it just effectively writes an IOU to the treasury which doesn't fall under the debt ceiling
The entire article is basically this, "Mass producing high numbered money won't cause inflation because I said it wont"
[QUOTE=FreakyMe;39095638]Imagine accidentally putting it in a vending machine..[/QUOTE] if you have a trillion dollars, you probably own a company that owns a company that owns the vending machine company.
[QUOTE=SweetSwifter;39095752]Enjoy ninehundredandninetyninebillion-ninehundredandninetyninemillion-ninehundredandninetyninethousand-ninehundredandninetyseven dollars and 50 cents in change. [sp]As if a vending machine would carry that much but whatever its just a joke[/sp][/QUOTE] All of it, all of it in pennies.
As long as he walks it there and makes a parade about it I'm down
[quote]the debt ceiling nonsense[/quote] Well, I don't know, it seems like a pretty legit issue to me.
500 trillion dollars for an anti-matter coin
Guys! I have the perfect way to fix the economy, it's simple, we just print more money!
"alright Mr. Geithner we have retooled the coin printer to produce a coin with the dimensions you provided for the 1 trillion dollar coin. Do you want us to just print 'one trillion dollars' on it? I mean the design doesn't really matter, does it? We could probably even leave it blank" "I had some ideas. Take a look and tell me what you think" "These...these are all pictures of your penis." Nobody could resist such an urge.
uh if they only make one and it's owned by the gubmits to give to whoever to pay off debt, how does that one coin increase inflation I'm not an expert in economics, I apologize, but can somebody explain to me how that would go about happening?
We have £1 Million and £100 million notes in the UK, but they are only issued to national banks that issue their own currency to make sure that they can 'back' the issued money.
Ah, you gotta love Keynesian economics.
I don't really understand how it won't cause inflation. That $100 defense contract spending is gonna end up on people's paycheck, and then it's loose in the market, no?
$1,000,000,000,000 coin? Pfft. [img]http://twittface.net/wp-content/uploads/2011/01/zimbabwe_100_trillion_dollar_bill.jpg[/img] 100x that right here.
Too bad 4 years ago that was worth 40 cents. Why the fuck is it that we have to just find every possible way to dance around the problem pretending like that's fixing it?
[QUOTE=SL128;39099294]$1,000,000,000,000 coin? Pfft. [img]http://twittface.net/wp-content/uploads/2011/01/zimbabwe_100_trillion_dollar_bill.jpg[/img] 100x that right here.[/QUOTE] I like the subtle irony that the motif represents the actual worth of the bill.
[QUOTE=Chrille;39099661]I like the subtle irony that the motif represents the actual worth of the bill.[/QUOTE] You can't put a price on rock formations.
What? Our silly self created debt crisis is spiraling out of control? Lets make like quantum physcists and invent some shit so that our model will keep running. Cause you know, this system is so great we would be silly to abandon it.
I imagine the trillion dollar coin being a gigantic coin made of gold and platinum with diamonds encrusted into it.
Ha a piece of metal worth 1 trillion dollars. Preposterous! At least it's materials are worth more than virtual, plastic or paper.
[QUOTE=BCell;39100168]I imagine the trillion dollar coin being a gigantic coin made of gold and platinum with diamonds encrusted into it.[/QUOTE] it'd probably be something subtle if ever made. If anything we should retire the penny and change the materials used to recreate the trillion dollar.
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