Trillion Dollar Coins?

[4588686]

There should be no federal reserve! - Ron Paul's greatest words.

 

I agree.  But for very different reasons.  But given the current economic system that we have the Fed is an important part of slightly mitigating the brutality of capitalism.  

[PhuturePriest]

I agree.  But for very different reasons.  But given the current economic system that we have the Fed is an important part of slightly mitigating the brutality of capitalism.  

 

My reasons are the Federal Reserve has the full power to bring us into an economic meltdown if they choose to keep printing money (Which they are. Billions more each month, and with QE4 it's going to get worse). A private institution has no right to bankrupt a country because they are so mentally handicapped they can't figure out inflation = bad.

[4588686]

My reasons are the Federal Reserve has the full power to bring us into an economic meltdown if they choose to keep printing money (Which they are. Billions more each month, and with QE4 it's going to get worse). A private institution has no right to bankrupt a country because they are so mentally handicapped they can't figure out inflation = bad.

 

Inflation is nearly 0 in the US and low to moderate inflation is generally good for low to middle income people.  Inflation is bad for bondholders.  

[Socrates]

I'll call up the car. Where we goin'?

 

North Korea.

[4588686]

North Korea.

 

Right.  Because are two choices are a political system designed in the 18th century an economic system from the 19th century or North Korea. 

[Fidei Defensor]

North Korea.

 

I prefer Italy. 

[4588686]

I prefer Italy. 

 

Italy is cool.  Until you realize that it is full of Italians

[Fidei Defensor]

Italy is cool.  Until you realize that it is full of Italians

 

Believe me, I came upon that realization quite quickly when I was there :P

[Nihil Obstat]

Went to Rome the summer before last. Upon exiting the airport, one of the very first people I see is just the most stereotypical fat Italian man I will ever see.

Maybe five and a half feet tall, but very round. Shirt unbuttoned about halfway, hairy chest, big gold chain. Pretty large bald spot on the top of his head, designer sunglasses, lots of gold rings. I think he had a moustache too.

Pretty much the coolest guy I've ever seen.

[Socrates]

Right.  Because are two choices are a political system designed in the 18th century an economic system from the 19th century or North Korea. 

 

Socialism ain't the answer, kid.

[Winchester]

I have been hearing much hot air being blown around about trillion dollar coins. I don't get it. What is this proposal meant to do?

 

Many on the right are freaking out about the idea. I mean, it's blatantly inflationary, and will likely drive the gold-standard people mad. However, I am reminded of Larry Burkett's notion (now many years old, as published in his book "The Coming Economic Earthquake") that such a tactic would be the only way to throw off the Fed. Basically to inflate the currency just enough to really break their business. Why abolish the Fed when you can just bankrupt them? Just go to them and say "Hey, here's your money, we printed it. Have a nice flooping rest of your life."

 

However, I get the feeling that's not what is being proposed with this whole platinum coin thing.

 

The money has to circulate prior to losing value. It won't hurt the first users. Thing is, there's  bunch of money that isn't really circulating--essentially not in the money supply.

[4588686]

Socialism ain't the answer, kid.

 

That depends on what you mean by socialism.