$ 1 Trillion dollar coin

Posted in the Blairsville Forum

Money

Blairsville, GA

#1 Jan 10, 2013
I'm thinking about getting one for my collection. Anyone else interested?
The Nuts Are Back in Town

Dahlonega, GA

#2 Jan 10, 2013
Money wrote:
I'm thinking about getting one for my collection. Anyone else interested?
Our government will be glad to mint you one. Of course, it will be worthless.
Oh my

Dahlonega, GA

#3 Jan 10, 2013
The Nuts Are Back in Town wrote:
<quoted text>
Our government will be glad to mint you one. Of course, it will be worthless.
Yep, just like that paper money in your pocket, but you can still trade it for the things you need and use it against the debts you owe. Funny how that works.
The Nuts Are Back in Town

Dahlonega, GA

#4 Jan 10, 2013
Oh my wrote:
<quoted text>
Yep, just like that paper money in your pocket, but you can still trade it for the things you need and use it against the debts you owe. Funny how that works.
Perhaps we should just forget about the national deficit and keep on printing money. Maybe have the government just drop off a few piles of freshly printed money at various locations across the country. That would give people more spending money, people would start spending that cash, businesses would flourish and the economy would improve. Heck, the idea that we should have gold to back up our currency is just ridiculous anyways - that's just some silly notion someone made up long ago, the idea that gold is valuable. Let's just say money is valuable and print some more. Sounds like as good a plan as we're getting out of Congress.
Cuzs Cuz

Statham, GA

#5 Jan 10, 2013
Putting a food stamp on the 'heads' side of the coin and putting Obama's picture on the 'tails' side would be more than appropriate in my humble opinion.
Informed Opinion

United States

#6 Jan 10, 2013
Oh my wrote:
<quoted text>Yep, just like that paper money in your pocket, but you can still trade it for the things you need and use it against the debts you owe. Funny how that works.
Anyone who wants to get rid of their worthless U.S. dollars please forward them to me.
uct

Blue Ridge, GA

#7 Jan 11, 2013
Going back to the deficit.If you add up all the bail-out programs and the so called stimlus money It has to be a huge sum. This is an old idea but worth thinking about Give every Legal U.S. citizen over the age of 55 one million dollars with 4 requirements Purchase a new American car or truck (auto bail out not needed) Pay off your home (housing crisis over ) Pay off any credit card debt I am sure this would have a far greater affect and with much less cost
uct

Blue Ridge, GA

#8 Jan 11, 2013
# 4 All the monet is tax free if the balance is invested in a retirement account
Floridian

Orlando, FL

#9 Jan 11, 2013
uct wrote:
Going back to the deficit.If you add up all the bail-out programs and the so called stimlus money It has to be a huge sum. This is an old idea but worth thinking about Give every Legal U.S. citizen over the age of 55 one million dollars with 4 requirements Purchase a new American car or truck (auto bail out not needed) Pay off your home (housing crisis over ) Pay off any credit card debt I am sure this would have a far greater affect and with much less cost
I would still have one million dollars, would I qualify?
Oh my

Blairsville, GA

#10 Jan 11, 2013
Coins Against Crazies
By PAUL KRUGMAN
Published: January 10, 2013
http://www.nytimes.com/2013/01/11/opinion/kru...

...Where does the debt ceiling fit into all this? Actually, it doesn’t. Since Congress already determines revenue and spending, and hence the amount the Treasury needs to borrow, we shouldn’t need another vote empowering that borrowing. But for historical reasons any increase in federal debt must be approved by yet another vote. And now Republicans in the House are threatening to deny that approval unless President Obama makes major policy concessions.

It’s crucial to understand three things about this situation. First, raising the debt ceiling wouldn’t grant the president any new powers; every dollar he spent would still have to be approved by Congress. Second, if the debt ceiling isn’t raised, the president will be forced to break the law, one way or another; either he borrows funds in defiance of Congress, or he fails to spend money Congress has told him to spend.

Finally, just consider the vileness of that G.O.P. threat. If we were to hit the debt ceiling, the U.S. government would end up defaulting on many of its obligations. This would have disastrous effects on financial markets, the economy, and our standing in the world. Yet Republicans are threatening to trigger this disaster unless they get spending cuts that they weren’t able to enact through normal, Constitutional means.

...In case you’re wondering, no, this wouldn’t be an inflationary exercise in printing money. Aside from the fact that printing money isn’t inflationary under current conditions, the Fed could and would offset the Treasury’s cash withdrawals by selling other assets or borrowing more from banks, so that in reality the U.S. government as a whole (which includes the Fed) would continue to engage in normal borrowing. Basically, this would just be an accounting trick, but that’s a good thing. The debt ceiling is a case of accounting nonsense gone malignant; using an accounting trick to negate it is entirely appropriate.

But wouldn’t the coin trick be undignified? Yes, it would — but better to look slightly silly than to let a financial and Constitutional crisis explode.
uct

Blue Ridge, GA

#11 Jan 12, 2013
Floridian wrote:
<quoted text>
I would still have one million dollars, would I qualify?
Yes as long as you opened or added to a retirement account You would still need to purchase a new car or truck. You are , no doubt in a very same minority in this country, which is why I think we are in the shape we are in.
uct

Blue Ridge, GA

#12 Jan 12, 2013
same should be small

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