Platinum Coins, the Answer to America's debt problem?

Discussion in 'Platinum' started by Jislizard, Dec 13, 2012.

  1. Big A.D.

    Big A.D. Well-Known Member Silver Stacker

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  2. Jislizard

    Jislizard Well-Known Member Silver Stacker

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  3. Big A.D.

    Big A.D. Well-Known Member Silver Stacker

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    They have a month to get to get to a target of 25,000.

    This is an example of how many signatures can be obtained in a month:

    https://petitions.whitehouse.gov/pe...d-begin-construction-death-star-2016/wlfKzFkN
     
  4. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    We're doomed...
     
  5. Austacker

    Austacker Active Member

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  6. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    I wonder how long until Sideshow Rob is selling 5 mil versions of the Emperor's New Coin on Ebay.
     
  7. volrathy

    volrathy Active Member

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    $1 trillion dollars isnt enough that would only last 2-3 months
     
  8. Austacker

    Austacker Active Member

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    Yup, oh well lets print another, and another, and another. Oh what the hell, lets mint a $100 Trillion 1/10 Platinum coin. "That should work for my term in office" says Obama :cool:
     
  9. Old Codger

    Old Codger Active Member Silver Stacker

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    If komrade barrack keeps going it will assist the budget for a few days, if that.

    Germany 1923

    OC
     
  10. trew

    trew Active Member Silver Stacker

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    Well Paul Krugman is in favour of it now, so it must be a good idea huh ? :rolleyes:

    Seriously, those guys that gave him a Nobel prize should be prosecuted
     
  11. volrathy

    volrathy Active Member

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    I dont think most americans know how much debt the government is in they are approaching 20 trillion this $1 trillion coin is only going to cover interest repayments
     
  12. DanielM

    DanielM Active Member Silver Stacker

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    But the article also says:
    And:

    So nothing says they won't produce more than 1
     
  13. No1joey

    No1joey Member Silver Stacker

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    Its a great idea in theory but the federal reserve private investors will not allow one of their customers to pay off their massive debt with one oz of platinum.
     
  14. DanielM

    DanielM Active Member Silver Stacker

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    Yet they accept paper and ink?
     
  15. bordsilver

    bordsilver Well-Known Member Silver Stacker

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    The way it technically works is that the money printing power of the Fed Reserve means that it can literally pay any price it wants for any "asset".

    So the Treasury will "sell" the $1 trillion coin to the Fed who will then credit their account with US$. In theory they could sell the Fed a novelty coffee cup signed by the president (or a stapler). The $1 trillion coin is essentially irrelevant if you think about it except that it looks more like a "real" asset.

    I'm having a niggling question in the back of my head however, that (once the US Govt manages to get back into surplus) could such a coin effectively delete the Govt debt from the Fed's books and therefore delete much of the additional currency that the Fed has printed?

    Edit: After more thought, I think the money will still have entered the economy (because the Govt has already spent it) but the liability will be erased (hence saving the US taxpayer from the interest, and principal, repayments).
     
  16. volrathy

    volrathy Active Member

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    make 20 * 1 trillion dollar coins
    deposit 17 into the fed and pay off all debt
    also use the last 3 1 trillion dollar coins to invest and make money on

    save on interest payments and use the saving + the interest you are making on your 3 trillion to buy back the coins over time and melt them
     
  17. bordsilver

    bordsilver Well-Known Member Silver Stacker

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    I like the scientific notation on this idea for the coin:

    [​IMG]
     
  18. sjm

    sjm New Member

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    I am sure Zimbabwe would give the US a few Billion dollar notes to help them:lol:
     
  19. dickmojo

    dickmojo Member

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    The Nobel Committee is helplessly compromised now, giving Krugman and Joe Stiglitz and every other 2-bit lefty economist a Prize. I swear to God, if Milton Friedman had lived in this era, he would never have won a Nobel, even though he's the greatest American economist to have lived, just because the Nobel Committee slants so far to the left these days.
     
  20. DanielM

    DanielM Active Member Silver Stacker

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    I wonder do they come in capsules or a tube?

    Im sure putting another us$20t into circulation would cause some sort of inflation problems
     

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