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1T Platinium Coin
- Ekaros 3y agoHmm, so if you steal trillion dollar coin. Pawn it off for metal value for very trusting friend and then that friends deposits it and later when you are out of jail gets you life long job? Would that work?
- BiteCode_dev 3y agoDo they hope people to believe this is not printing money, because it's a coin?
- bombcar 3y agoThe reality is if the people managing the massive funds that run the stock and bond markets don't think it's different than the government doing what they normally do, then they'll be find. This loophole keeps getting brought up, so I just wish someone would do it so we get an answer either way. (If they are smart, they will mint $1m coins, or $500m or $1 billion; some of those would get snapped up by collectors immediately)
- rhaway84773 3y agoI suspect the markets will simply be thrilled that US debt that is constitutionally sacrosanct, is no longer held hostage to the whims of a few legislative terrorists. If the govt mints a $1Tn platinum coin and the SC does not intervene to overturn it, it would boost markets significantly because it would permanently eliminate 1 class of financial terrorists in the legislature.
- klyrs 3y agoIf a million $1M coins were minted, they would be too plentiful to be collectors items. If a thousand $1B coins were minted, there aren't enough billionaires to afford collecting them.
- deleted 3y ago[deleted]
- oehtXRwMkIs 3y agoIf you read the article you'll see they mention that this is only possible with platinum coins. So I think their motivation for using a coin is because it's only possible with a coin.
- BiteCode_dev 3y agoThe fact you accept this assertion as if it were a fact is exactly why I posted the comment in the first place.
- mindslight 3y agoNo, it's a straightforward legal hack to preserve the "full faith and credit" of the United States in the event that the political party that markets themselves with "fiscal responsibility" kayfabe forgets they've only been acting.
- iudqnolq 3y agoI used to be skeptical of this sort of hack but I recently heard a very convincing argument: Congress writes a budget for the government. The government should follow that budget. If Congress wants the government to borrow less it should write a smaller budget, not pass a high budget and instruct the government to default on the payments it promised.
- deleted 3y ago[deleted]
- chromatin 3y agoThis mockery of reasonability is end-of-empire stuff.
- tycho-newman 3y agoWe tried this once with Monty Burns.
- tkngctrl 3y ago[dead]
- RecycledEle 3y agoOr, they could do something that creates wealth (like not regulating AI) instead of playing numbers games.
- klyrs 3y agoWho does AI create wealth for?