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A Man Who Invented the Trillion-Dollar Coin
- amadeuspagel 3y agoDisappointing that the article doesn't have any links to the original comments and discussions, even if archived. Here's the full comment by Beowulf: > Curiously enough Congress has already delegated to Tsy all the seignorage power authority it needs to mint a $1 trillion coin (even numismatic coins are legal tender at their face value and must be accepted by the Federal Reserve)– the catch is, its gotta be made of platinum (ditto the balls of any President who tried this). So for a 1 oz. coin, Tsy would net only $999.998 Billion :o) > (k) The Secretary may mint and issue platinum bullion coins and proof platinum coins in accordance with such specifications, designs, varieties, quantities, denominations, and inscriptions as the Secretary, in the Secretary’s discretion, may prescribe from time to time. Here's the discussion that lead to it: https://web.archive.org/web/20100604051310/https://moslereconomics.com/2010/05/14/marshalls-latest/ https://web.archive.org/web/20100604051310/https://moslereco...
- LinuxBender 3y agoA $1T coin seems to me like the answer to "How do we make this $2T disappear?" Former methods would include bad book-keeping, obfuscation and classifications. A coin can just walk away.
- AHOHA 3y agoSo it’s easy to take later. And these trillion dollar came from where exactly?