I think we are at a point in history where it is well worth some effort to really understand hyperinflation. Check out my Hyperinflation FAQ:
Love it, let the counterfeiting begin. (Psss, want to buy a trillion dollar coin cheap?)
Actually a one ounce platinum coin would be worth 1200-1500 dollars based on the changing market place. Minting say a 100 ounce coin like some of the Chinese silver coins would be interesting and have a value of 120,000 to 150,000 making counterfeiting expensive and risky. If they did it, they would have to coin more than one. Obama is spending over a trillion in debt every year and only because he can't find the money to spend even more. Lets coin say 20 so that we can pay off our debt and have 4 trillion more to blow. But really, it would open the government up to ridicule, and nothing destroys a politician as effectively as ridicule. My bet is they won't do it. Biden might: he is a real doofus, but Obama is too crafty to fall for that one. Na we are going to have a great fight over the debt limit.
It seems that the Left want to cheat the world out of the money it lent.
"World! Lend us trillions of dollars to spend on stuff that you'll produce for us to buy with the money you lent to us, and then we'll give you back some shiny coins that we'll say are worth a trillion dollars each! Great deal, huh??"
I wouldn't blame the rest of the world for blowing the crap out of America after that; nukes and all.
It's funny (really) - this regime has done so many "dumb" things lately that I'm losing track. But minting a "trillion-dollar coin"? This is the biggest bolshoi tactic I've ever heard of (so Reid and Pelosi will be right on board with it). Isn't that just like a QE3 or QE4... except heavier? How big will this coin be? What's it made of - Unobtainium?
As if we needed more evidence that none of these clowns are serious about our debt.
This is a perfect opportunity for Republican in the House and Senate to get back in our good graces. I suggest a Democrat get up in front of each body and say, "we're going to produce a platinum coin worth a trillion dollars" and before he can finish explaining anything else every Republican in both audiences breaks out in uncontrolled laughter. The laughter continues until the Democrat is embarrassed into silence and returns to his seat. The tears from such extreme laughter are so numerous a clerk has to hand out boxes of tissue.
This is what I think of the idea anyway.
Lest we forget the comments from our dear leader while only a lowly senator from the state of Ill in 2006. Maybe we should begin a postcard campaign, send a postcard from your state with these exact words to 1600 Pennsylvania Ave. It would be a subtle reminder that we don't forget easily.
“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.”
Scoop, you have to assume we have guys on our side who fully understand the implications to doing this and have the balls to come out and effectively call them the most ignorant SOB's on the planet? That if this is their solution to our debt, it is no wonder we have achieved the highest debt in the world?
Last time I checked, the guy that would have done this was NOT supported by the GOPe and forced out of the House. Allen West!
It would be cheaper in the long run if we minted it, gave it to Obama with the express guarantee that he, all of the democrats, and a few republicans would leave the country and he could divvy it up any way he wanted.
Ok, I've found an old broken drill in my garage that I've estimated at $1billion dollars. But today only, I will sell it to you for a mere $100million dollars! That's a HUGE saving! But email me in the next 10 minutes and I'll double the offer! That's 2 $1billion dollar broken drills for just $100million dollars! Oh plus shipping and handling. MA residents add 265% sales tax.
Thinking of posting that on a libtard board. If they fall for the $1billion dollar coin they would fall for this right? Libtards - we don't call them that for nothing! ;-)
Back 15-20 years ago when we starting paying our son an allowance and then rewarding him for straight A's etc, he would often times do too well for our budget. We began printing "our name" Bucks. He could use them as spending money towards buying things he just “had to have.”
What’s so funny as this little experiment the government is about to find out is that over the years he amassed so many bucks, they filled many of his drawers….and eventually we couldn’t re-pay our debt to him -and had to "settle." It was pretty comical, and my husband always blames me for starting the bar so high for his good grades!
Thanks Gino! It worked- He finished all the way thru with perfect grades and was Valedictorian!
The absolute amusing thing was in 11th grade he was one of a small group to be invited to the to the 100% homework/perfect attendance picnic, and then he turned his permission slip in late so he wasn’t allowed to go!
He STILL gets grief about that! Hahah
I haven’t seen you around much lately. I hope you had enjoyable holidays…A Merry Christmas!!!
Your voyage of emotions exactly parallels mine, especially the "suspicious" part. We're not alone though, as you know. Someday the truths will come out but in the meantime a good sense of humor helps. What especially helps us is the great friends we've come to know here at TRS and the wonderful stories and comments that are shared; stories such as yours! Love it.
Yes the permission slip thing- is sooooo classic of our son!
Dont even get me started on the election.
We are still in total disbelief on that. I can’t believe it. Our little town flipped to Republican-- (We live in Arizona but our town is usually very liberal in its thinking) we were in line and everyone was up beat and chatting and we were thinking, hmmmm…people are sounding like they are actually going to vote for Romney Wow we thought, ok---so we have a real chance!!!
We went out to lunch, cautiously optimistic. Later, watching the results we started to feel worried. When FOX called Ohio we got tense. Then, as each state was called we went from worried to angry to downtrodden and browbeaten to demoralized, and back to angry and then suspicious.
Can the American public be sooooo outrageously dumb?
No, not a pest. I feel the same way- I am starting to bounce back- more socially and less politically right now.
Now that ending to an already great story adds even more! Ironic humor.
I had a wonderful Christmas and New Years, thank you. I've been around, we probably just keep missing each other, that happens. I know I was AWOL for a while right after November 7 (can't seem to allow myself to call it an election), very upset and disillusioned with everything, but bounced back, continuing to make a pest out of myself.
The ultimate fiat currency - mint a coin, assign an arbitrary value to it (based on nothing) and voila all our debt problems are over. Further proof these people do NOT operate in the real world whatsoever. We're totally & absolutely you know what... Fittingly, on another forum I read often, this is in the humor section...
Do you not realize we are already heading to hyper inflation? The coin would just get us there faster. Besides, why do you think they would only print one? Maybe there will be coining errors to make some coins worth more to numismatists in some future country. Maybe some workers at the mint will pocket a few so that they can feed their families. After all platinum is always worth something, even if the US government is bankrupt and the dollar, like the WWI German Mark is worthless. Think of it, a trillion dollar coin could buy you 400 gallons of gas no matter what the economy was doing.
Printing out money not through paper, but medal! Brilliant, they must be stepping up in the world! -_-
Why don't we use what we all have at our house? Monopoly money? Shoot, I always like collecting $200 when I'm passing "GO". Too bad there isn't any real VALUE to them!
How about cutting spending?????? What a unique idea in DC, but then it would take away the option of buying votes and the pols, especially the Dems, could not have that.
There are too many in Congress who shouldn't even be allowed to vote, let alone serve in office until they submit to an IQ test.
Yes, I find it amazing that the Republicans are being called crazy and irresponsible for opposing raising the debt ceiling. After all, how nuts can you be to want to live within your means. I mean, really....
obama is out of control
the repubs had better get in gear and find a way to stop this idiot
amnesty coming, taking/taxing guns, Libya, drones, torture yes torture he still allows for prisoners to be taken to other countries for 'conversation' all his lies, obamacare
wow he is taking us down to Kenya piece by piece
wake up America
It cannot work unless the House cooperates because they must decide on the design of the coin... as in whose face appears on it!
Just a cotton pickin minute there Scoopers !! These guys might be on to something. But, wait a minute, why stop a 1 trillion? Why not 16 trillion dollar coin, just pay all of our debt. Better yet, how about....nah - too many narrow-minded conservatives here.
Yea you are on to something. Cancel all government payments and pensions, just give every citizen and illegal immigrant a single trillion dollar coin. It will work, I'm sure, we would all be trillion-airs! (from somewhere in the distance "wake up honey, you are talking in your sleep again, you have to go to work today.")
The Simpsons did it already.
And if our king is getting solutions from Simpsons reruns, we are in deep kim chee.
I used to buy these chocolate, gold-wrapped coins when I was a kid. They tasted great. I can't believe inflation has taken them up to platinum. Where has the time gone?
I once got a credit card offer in the mail for a titanium card. It had a $100,000 limit. Since I was working at the Nuke plant at the time, had no debt, and was making good wages, I thought that just for giggles, I'd apply for it. Turns out they rejected me. Go figure. It was about as silly as a $1 trillion platinum coin. I hope it tastes as good as the gold ones.
Speaking of silly, I ran across an article where Rachel Maddow (I know, wash your hands) said that even having a debt ceiling at all was 'silly'. Her final conclusion was this: "But the fact that this is even a topic of conversation reinforces what is plainly true: radicalized congressional Republicans sure have made a mess of things."
Really, Rachel? That's what you got out of the idiocy of Obama creating a trillion dollar coin? Figures, don't it.
Hey poljunkie, did you know you're one of the official "Chicks on the Right?
Check it out and be proud!
Hmmm, I'll see what I can do. I'm trying to get one of those $1 trillion ones. I hear they only cost a couple of Obamabucks (and just a couple of votes per person).
Mine were gold.
I thought they were good, but I will need more to let you know if they were as good as we remember from our childhood.
It's slightly off topic, but your comment reminded me of something: Years ago, I was standing on the Juneau waterfront (where the summer cruise ships dock) visiting with a guy who had a stall/kiosk selling highend goodies. He told me how a young woman 18 or 19 yrs old walked off a cruise ship and up to his stand, and bought a piece of carved ivory from him for $17,000. He said bargaining with him on price was of no interest to her....she just casually whipped a Visa Platinum card, and the bank accepted it without a hitch. He said that he was curious, so asked her what the limit on that card was. The question puzzled her....she had never considered it before. She said " I have no idea, my dad pays for it, but I did buy a BMW one time with it for $50,000 and it went through".....it's true, the rich are different.