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Mon Jan 7, 2013, 10:49 PM

Your Guide to the Trillion-Dollar Platinum Coin That Obama Can Mint to Save the World

This discussion thread was locked as off-topic by Kaleva (a host of the Latest Breaking News forum).

Source: www.gawker.com

Today, New York Times columnist and Nobel prize winning economist Paul Krugman wrote that President Obama should be "absolutely" prepared to mint a one trillion dollar platinum coin and use it to pay the government's bills. It wasn't a typo: a lot of people are discussing the trillion-dollar coin as a way to avoid a fight over the debt ceiling. But what is it? And why? And whose face will be on it? Here's our guide.

Read more: http://gawker.com/5973717/your-guide-to-the-trillion+dollar-platinum-coin-that-obama-can-mint-to-save-the-world



There is a LOT of confusion about the Trillion Dollar Coin solution on these boards today. Gawker has a handy-dandy round-up of all of the steps.

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Replies to this discussion thread
Arrow 19 replies Author Time Post
Reply Your Guide to the Trillion-Dollar Platinum Coin That Obama Can Mint to Save the World (Original post)
RetroGamer1971 Jan 2013 OP
rightsideout Jan 2013 #1
Berlum Jan 2013 #11
regnaD kciN Jan 2013 #2
NBachers Jan 2013 #3
tclambert Jan 2013 #14
Kurska Jan 2013 #4
mimi85 Jan 2013 #6
SkyDaddy7 Jan 2013 #16
the devil Jan 2013 #5
1StrongBlackMan Jan 2013 #7
mostlyconfused Jan 2013 #8
StevePaulson Jan 2013 #9
colorado_ufo Jan 2013 #10
mwooldri Jan 2013 #17
Old Union Guy Jan 2013 #13
tclambert Jan 2013 #15
Old Union Guy Jan 2013 #12
IDemo Jan 2013 #18
Kaleva Jan 2013 #19

Response to RetroGamer1971 (Original post)

Mon Jan 7, 2013, 10:51 PM

1. I love the idea of putting Reagan's face on the coin

That idea was on another thread so credit goes there.

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Response to rightsideout (Reply #1)

Tue Jan 8, 2013, 04:59 AM

11. That works for me, too

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Response to RetroGamer1971 (Original post)

Mon Jan 7, 2013, 10:58 PM

2. Yes, but will it have "In God We Trust" on it...?



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Response to RetroGamer1971 (Original post)

Mon Jan 7, 2013, 11:00 PM

3. Yes, but will it work in parking meters?

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Response to NBachers (Reply #3)

Tue Jan 8, 2013, 06:50 AM

14. What would that give you? 4 trillion hours of parking? The little indicator doesn't go that high.

You need to take your trillion dollar coin into a store and get change in quarters, like everybody else.

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Response to RetroGamer1971 (Original post)

Mon Jan 7, 2013, 11:01 PM

4. Put Jesus on it and we'll have the republicans on board n/t

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Response to Kurska (Reply #4)

Tue Jan 8, 2013, 12:01 AM

6. My fav post of the day!

Thanks for the smile...

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Response to Kurska (Reply #4)

Tue Jan 8, 2013, 07:34 AM

16. YES!! Jesus!!

Do it like those Lincoln/Kennedy pennies with Jesus being the main head & Reagan being the smaller head! That would be AWESOME!!

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Response to RetroGamer1971 (Original post)

Mon Jan 7, 2013, 11:20 PM

5. and then, of course...

someone will offer to deliver it to pay off the debt, a la Montgomery Burns, and steal it to become filthy rich...leaving America twice as deep in the hole...

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Response to RetroGamer1971 (Original post)

Tue Jan 8, 2013, 12:04 AM

7. posted to for later reading. n/t

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Response to RetroGamer1971 (Original post)

Tue Jan 8, 2013, 12:31 AM

8. So the net impact of this would be the same as raising the debt ceiling by $1 trillion, right?

While not doing one thing to address the problem. We're running $1 trillion dollar annual deficits right now, and the "fiscal cliff" deal does basically nothing to address that. Is there an eventual impact on inflation and the monetary supply if we had to print one of these every year, indefinitely? True, it gets congressional threats of a shutdown off the table so Obama doesn't need to negotiate anything on their terms, but it kinda seems like we'll end up needing a lot of these coins before dysfunctional DC fixes anything.

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Response to mostlyconfused (Reply #8)

Tue Jan 8, 2013, 12:43 AM

9. The Wealthy Have 10 Trillion In The Cayman Islands

Make them repatriate the $$, pay the 39.6% tax, and we have 4 trillion dollars to use to balance our budgets, fix our bridges, and grow our economy. The billionaires will have to get by with only 6 trillion in cash......

Our problems are easy to solve.

Tax the wealthy.

They won't even miss the money.......

http://lmgtfy.com/?q=21+trillion+offshore

The world's wealthy have 21 to 31 trillion in the tax havens.

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Response to StevePaulson (Reply #9)

Tue Jan 8, 2013, 03:57 AM

10. Best post of the day!

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Response to StevePaulson (Reply #9)

Tue Jan 8, 2013, 08:52 AM

17. Hmmm... get the British to lease the Caymen Islands to America.

Then the Cayman's become US Territory, and US tax laws can apply... retroactive to a certain date.

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Response to mostlyconfused (Reply #8)

Tue Jan 8, 2013, 05:25 AM

13. It would be the same as inflating the currency by that much. n/t

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Response to Old Union Guy (Reply #13)

Tue Jan 8, 2013, 07:00 AM

15. No. It would be the same as raising the debt limit by $1 trillion. That's all.

Really. That's all it would do. Ridiculous, but true.

The ridiculousness (spell-check didn't flag ridiculousness!) of this solution reveals the ridiculousness of all the political games surrounding the debt ceiling.

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Response to RetroGamer1971 (Original post)

Tue Jan 8, 2013, 05:24 AM

12. Good lord. They really believe in magic. n/t

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Response to RetroGamer1971 (Original post)

Tue Jan 8, 2013, 09:02 AM

18. Where are they going to find a couch secure enough to keep it?

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Response to RetroGamer1971 (Original post)

Tue Jan 8, 2013, 09:21 AM

19. Locking

Isn't LBN as the article provides background. Please consider reposting in GD or in one of the other threads here about the Trillion Dollar coin.

http://www.democraticunderground.com/1014359549
http://www.democraticunderground.com/1014359882

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