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PoliticAverse

(26,366 posts)

40. Update: Treasury says no trillion dollar coin.

Sat Jan 12, 2013, 06:58 PM

Jan 2013

http://www.washingtonpost.com/blogs/wonkblog/wp/2013/01/12/treasury-we-wont-mint-a-platinum-coin-to-sidestep-the-debt-ceiling/

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Suddenly, Lots Of Influential People Are Talking About The Trillion Dollar Coin Idea [View all] PoliticAverse Jan 2013 OP

Stupid is as stupid does... Agnosticsherbet Jan 2013 #1

i think it's fitting that a stupid problem (the debt limit) is solved with a stupid solution. unblock Jan 2013 #3

The idea that the fed can not create money out of thin air, but can mint a coin and say it is worth. Agnosticsherbet Jan 2013 #5

not the fed, the treasury. unblock Jan 2013 #6

The money borrowed is for programs and spending allready approved by Congress... Agnosticsherbet Jan 2013 #21

Maybe but I think it is more silly than stupid and that is because TheKentuckian Jan 2013 #13

Amen. Bill USA Jan 2013 #19

I read the article and it's as "unblock" has said. the author is offering a silly tool as a way of Bill USA Jan 2013 #22

+ struggle4progress Jan 2013 #38

I would give anything to see the disappointment... mike_c Jan 2013 #2

Sorta demonstrates ... GeorgeGist Jan 2013 #4

Its all held together by faith Joe Shlabotnik Jan 2013 #7

Think of all of the vending machines that will need to be reprogrammed jberryhill Jan 2013 #8

Whose picture would you put on a trillion dollar coin ? n/t PoliticAverse Jan 2013 #9

Ron Paul * Redfairen Jan 2013 #10

Ronald Reagan Salviati Jan 2013 #11

I was thinking Reagan too... n/t PoliticAverse Jan 2013 #12

This is reminding me how crazy things were under Reagan/Bush. nt bananas Jan 2013 #24

Yep, have to be Raygun, he of the low taxes and giant deficits. Or Bush the Lesser. nt bemildred Jan 2013 #35

Byron Dale bananas Jan 2013 #23

Donald Trump. customerserviceguy Jan 2013 #29

I actually liked Josh Barrow's idea dsc Jan 2013 #14

It was proposed in 1992 by presidential candidate James Bo Gritz bananas Jan 2013 #15

Variation .... Issue a bunch of platinum coins in multiple demoninations. jerseyjack Jan 2013 #16

When everybody is trying to game the system, you no longer really have a system. bemildred Jan 2013 #17

How is a 1T credit to our account at the fed, in the form of a coin, Warren Stupidity Jan 2013 #32

It isn't, that's my point. bemildred Jan 2013 #33

That and seven dollars tavernier Jan 2013 #18

Make 17 Coins Macoy51 Jan 2013 #20

It's won't cause inflation because it will never make it into the real economy. Odin2005 Jan 2013 #26

If so, why don't we just end all taxation and mint 2-3 coins a year? That makes everyone kelly1mm Jan 2013 #28

Because this is about paying interest on the debts we already have. Odin2005 Jan 2013 #30

Actually it isn't even that, it is a marker that would add a credit to our fed account. Warren Stupidity Jan 2013 #31

I like that idea! After the 17 coins, lets just mint 2 more per year and end all taxes as well! kelly1mm Jan 2013 #27

I think Modern Monetary Theory has finally hit the big time! Odin2005 Jan 2013 #25

It is getting there. Sam1 Jan 2013 #39

If you agree sign the White house petition. MFM008 Jan 2013 #34

Spam deleted by NRaleighLiberal (MIR Team) John_UAC Jan 2013 #36

PAUL KRUGMAN: Obama Must Be Ready To Mint The Trillion Dollar Platinum Coin PoliticAverse Jan 2013 #37

Update: Treasury says no trillion dollar coin. PoliticAverse Jan 2013 #40