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Wed Jan 9, 2013, 06:30 PM

The Trillion Dollar Coin

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Arrow 5 replies Author Time Post
Reply The Trillion Dollar Coin (Original post)
rdubwiley Jan 2013 OP
onthefence1 Jan 2013 #1
rdubwiley Jan 2013 #2
albear Jan 2013 #3
DWinNJ Jan 2013 #4
rdubwiley Jan 2013 #5

Response to rdubwiley (Original post)

Wed Jan 9, 2013, 07:43 PM

1. trillion dollar coin

 

while I agree there are issues with the debt ceiling, how can even our govt "mint" a coin, declare a value to pay debts? just doesn't make for common sense...I, myself, have had a few occasions in my life where I would love to declare a precious metal with value so that I could pay my credit card debts. what will become of the "trillion dollar coin" once debts are paid? it will be useless.

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Response to onthefence1 (Reply #1)

Wed Jan 9, 2013, 07:47 PM

2. I don't know what will happen to the coin

The point isn't to create money, but to work around the debt ceiling, while producing cash flow to pay off some debt. Really it's just a way to move money from one place to another without hitting the arbitrary limit.

Though, after the debt ceiling is raised, you can imagine the treasury throwing the coin into Mount Doom.

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Response to rdubwiley (Original post)

Wed Jan 9, 2013, 08:21 PM

3. Reality immitates art

 

Remember the old Simpsons episode about Mr. Burns stealing the 1 trillion dollar bill from the U.S. and Fidel Castro gets it? LOL!

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Response to rdubwiley (Original post)

Wed Jan 9, 2013, 09:10 PM

4. It will never happen

There would be too much controversy as to whose image goes on the coin for them to do it in a reasonable time.

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Response to DWinNJ (Reply #4)

Wed Jan 9, 2013, 09:14 PM

5. We all know

The coin would have John Boehner on it.

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