[Revi]

What do you think of this? Are we going to try this? And what are the other countries going to do when they hear this? Quadrillion dollar coins?

http://www.theatlanticwire.com/politics ... oin/60583/

[Outcast_Searcher]

$this->bbcode_second_pass_quote('Revi', 'W')hat do you think of this? Are we going to try this? And what are the other countries going to do when they hear this? Quadrillion dollar coins?

http://www.theatlanticwire.com/politics ... oin/60583/

[Tanada]

$this->bbcode_second_pass_quote('Revi', 'W')hat do you think of this? Are we going to try this? And what are the other countries going to do when they hear this? Quadrillion dollar coins?

[TheAntiDoomer]

I don't think you understand how it works. Minting a trillion dollar coin and raising the debt celing 1 trillion is the same thing. Which is why obama should do it.

[Outcast_Searcher]

$this->bbcode_second_pass_quote('TheAntiDoomer', 'I') don't think you understand how it works. Minting a trillion dollar coin and raising the debt celing 1 trillion is the same thing. Which is why obama should do it.

[TheAntiDoomer]

Honestly I don't think you guys believe anything you wrote. I think you guys just see this as another way you might get your doom on (which would be pretty doomy probably if we don't extend the ceiling). But that won't happen, I am farily certain Obama will use the coin or 14th amendment if he has too.

Be Ready To Mint That Coin
http://krugman.blogs.nytimes.com/2013/0 ... that-coin/

$this->bbcode_second_pass_quote('', 'E')nter the platinum coin. There’s a legal loophole allowing the Treasury to mint platinum coins in any denomination the secretary chooses. Yes, it was intended to allow commemorative collector’s items — but that’s not what the letter of the law says. And by minting a $1 trillion coin, then depositing it at the Fed, the Treasury could acquire enough cash to sidestep the debt ceiling — while doing no economic harm at all.

So why not?

It’s easy to make sententious remarks to the effect that we shouldn’t look for gimmicks, we should sit down like serious people and deal with our problems realistically. That may sound reasonable — if you’ve been living in a cave for the past four years.Given the realities of our political situation, and in particular the mixture of ruthlessness and craziness that now characterizes House Republicans, it’s just ridiculous — far more ridiculous than the notion of the coin.

[radon]

$this->bbcode_second_pass_quote('TheAntiDoomer', ' ')But that won't happen, I am farily certain Obama will use the coin or 14th amendment if he has too.

[Tanada]

There are however limits to how much stupidity other Governments will put up with to keep the US Dollar afloat as the world reserve currency. One step in this direction and it will be over and done with.

[bluesman]

The only way this makes any sense, is if the coin weighs 26,726.5 tons!

[Plantagenet]

Why just mint one?

King Obama should mint 50 of the trillion dollar coins. Then he
Could use them to pay off the US federal debt, bail out social security
And Medicare, cut the payroll tax on working folks that he
Just raised AND run the government for the next 4 years without even having to ever
Talk again to the evil Rs

Ps sorry for typos. I'm traveling in Portugal ----posting from iPhone

CHEERS!

[vaseline2008]

Adding more dollars to the system would create more inflation, no? So in the end would it just zero sum out?

[Revi]

Why is it any more ridiculous to sell the Fed a trillion dollar coin than to ask them to buy billions a day in our own debt?

[dinopello]

$this->bbcode_second_pass_quote('', 'C').R.E.A.M.
Get the money
Dollar, dollar bill y'all

[EdwinSm]

$this->bbcode_second_pass_quote('dinopello', 'I') think the trillion dollar platinum coin is a perfectly ridiculous response to the equally ridiculous situation that congress has to agree to raise the debt limit in order to pay the obligations that they incurred after they already agreed to spend and spent the money.

[Tanada]

$this->bbcode_second_pass_quote('EdwinSm', '')$this->bbcode_second_pass_quote('dinopello', 'I') think the trillion dollar platinum coin is a perfectly ridiculous response to the equally ridiculous situation that congress has to agree to raise the debt limit in order to pay the obligations that they incurred after they already agreed to spend and spent the money.

[Econ101]

sure its rediculous but the Fed does the trillion dollar coin all the time with worthless bonds deposited at fed reserve banks and used as reserves allowing the banks to distribute these funds as money and loans. Its called monitizing debt. Besides a trillion wont even pay this years bill for means tested welfare support payments because that is well over a trillion/year now. A trillion dollar coin is chump change when put up against the insane spending of thes government.

The only thing that pays our bills is productive economic activity, control and shrink federal spending and reduce taxes. Our government should be ashamed that so much of its human resources is going to waste. The idea we are paying so much out in welfare is an admission of failure.

[Plantagenet]

$this->bbcode_second_pass_quote('dinopello', ' ')ridiculous situation that congress has to agree to raise the debt limit in order to pay the obligations that they incurred after they already agreed to spend and spent the money.

[dinopello]

$this->bbcode_second_pass_quote('Plantagenet', 'Y')ou don't understand what the debt limit is

[Plantagenet]

You don't understand what spending is. Future obligations are encumbrances----not spending.

[lowem]

Trillion dollar coin? That's just a test case. A trial balloon, so to speak.

Soon the question will be, why stop at a trillion?

10^12 : Trillion
10^15 : Quadrillion
10^18 : Quintillion
10^21 : Sextillion
10^24 : Septillion
10^27 : Octillion
...