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1Trillion Dollar Coin...
#1
http://www.foxnews.com/politics/2013/01/...le-it-out/

Quote:All the White House had to do Wednesday was rule it out.

For days, the press and the pundits were abuzz with the fanciful notion that maybe -- just maybe -- the Treasury Department could avert a standoff over the debt ceiling by minting a cure-all trillion-dollar coin.

Surely, the White House would dash the idea, no?

But when asked, repeatedly, about the possibility, White House Press Secretary Jay Carney hedged.

Then he hedged again. And again.

Read more: http://www.foxnews.com/politics/2013/01/...z2HbVov5XJ

Seriously? All that this would do is tank our economy even more. Angry
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#2
Right now the fed holds ~13 trillion of our own debt! All the fed has to do is forgive it. Wait will the federal government have to pay taxes on that then? I found it amazing that china really doesnt own our debt. I wish I could find the article that gave me this tidbit...
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#3
I have a hundred trillion and one dollars, will that help?

[Image: P1220001Small.jpg] . [Image: Image1Small.jpg]
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#4
How much is that in US $$ Bill?
[Image: member955.png]
USAF (1976 -1986) NRA, GOA Anim_sniper2
"The problems we face today are there because the people who work for a living are outnumbered by those who vote for a living." Dan Cofall
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#5
And of course we'd put His face on the coin....
"What you're feeling now ain't the worst pain. The worst thing is not feeling the hurt anymore."
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#6
billamj;65512 Wrote:How much is that in US $$ Bill?

It's worth about as much as our president is worth .....
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#7
soberbyker;65552 Wrote:
billamj;65512 Wrote:How much is that in US $$ Bill?

It's worth about as much as our president is worth .....

So not worth pissing on if it was on fire???
"What you're feeling now ain't the worst pain. The worst thing is not feeling the hurt anymore."
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#8
soberbyker;65552 Wrote:
billamj;65512 Wrote:How much is that in US $$ Bill?

It's worth about as much as our president is worth .....

you cant have a coin with negative worth, because math.
tolerance for failure meter... LOW
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#9
I didn't even get the trillion dollar coin thing. It must just be sooooo brilliant that it's over my level of intelligence. Or something.

Rolleyes
Error 396: Signature cannot be found.
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#10
RugerGirl;65601 Wrote:I didn't even get the trillion dollar coin thing. It must just be sooooo brilliant that it's over my level of intelligence. Or something.

Rolleyes

Do you know how balance sheets work? It's just a coin that they assign a trillion dollar value to. This shows as an asset on the balance sheet and allows them to issue 1 trillion dollars worth of bonds without raising the debt ceiling. It's a trick to avoid the debt ceiling, nothing more.

ExcelToExcel;65501 Wrote:Right now the fed holds ~13 trillion of our own debt! All the fed has to do is forgive it. Wait will the federal government have to pay taxes on that then? I found it amazing that china really doesnt own our debt. I wish I could find the article that gave me this tidbit...

How often do private banking cartels just forgive debt?
Deal_me_in, proud to be a member of pa2a.org since Sep 2012.
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