StayAtHomeDad Posted January 10, 2013 Posted January 10, 2013 Evidently, there is difference in the effects printing paper money has on the economy versus just minting super-high denominated coins. Seigniorage? Savior or joke? You Decide. "Lawmakers are still positioning themselves for a debt ceiling fight in a few months, but one Republican congressman wants to snuff out a particular idea immediately: the U.S. Treasury minting $1 trillion platinum coins to avert a debt ceiling showdown. Rep. Greg Walden (R-Ore.) has introduced a bill to specifically ban President Barack Obama from minting the coins. The trillion-dollar coin has been previously discussed on Slashdot:" Link to comment Share on other sites More sharing options...
earthdome Posted January 10, 2013 Posted January 10, 2013 With central bank fiat currency you can print or coin whatever you want. Of course that may result in monetary inflation. In recent years monetary inflation was so bad in Zimbabwe that everyone there was a billionaire. Precious metals, especially gold, became preferred by many as money. 1 Link to comment Share on other sites More sharing options...
JJReyes Posted January 10, 2013 Posted January 10, 2013 Yes. The Republicans previously proposed and passed a law to benefit coin collectors. The language of the legislative bill opened a loophole, which the Democrats can exploit. The funny part is the Republicans discovered the loophole. Trying to plug it alerted the Democrats to the possibility of minting high denomination platinum coins to pay the debt. It won't happen. These are legislative games everyone plays in Washington, D.C. Link to comment Share on other sites More sharing options...
Call me bubba Posted January 10, 2013 Posted January 10, 2013 (edited) Slashdot: Humm :th_hu: SLASHDOT news never heard of them. is it on par w/yahoo or sunstar? minting TRILLION dollar coins is just another "gimmick" may feel good to do it now but long term it will hurt and hurt deeply. Edited January 10, 2013 by Pittman apartments Sgn Link to comment Share on other sites More sharing options...
StayAtHomeDad Posted January 10, 2013 Author Posted January 10, 2013 Slashdot: Humm :th_hu: SLASHDOT news never heard of them. is it on par w/yahoo or sunstar? Slashdot is not really a news site. Just an aggregator site for geeks. Been around since the beginning of the Internet almost. Lot of cool threads there, though. 1 Link to comment Share on other sites More sharing options...
OnMyWay Posted January 10, 2013 Posted January 10, 2013 I already have one of these. I have it for sale on e-bay for a discounted price of 1 billion, if anyone is interested. I only accept Paypal. 2 Link to comment Share on other sites More sharing options...
StayAtHomeDad Posted January 10, 2013 Author Posted January 10, 2013 I already have one of these. I have it for sale on e-bay for a discounted price of 1 billion, if anyone is interested. I only accept Paypal. CMON... is that your LAST PRICE? 1 Link to comment Share on other sites More sharing options...
Tukaram (Tim) Posted January 10, 2013 Posted January 10, 2013 I had a lady at work seriously ask why we don't just print enough money to pay off the debt. I had no idea where to begin explaining basic economics to her but was pretty proud that I didn't laugh in her face. 2 Link to comment Share on other sites More sharing options...
StayAtHomeDad Posted January 10, 2013 Author Posted January 10, 2013 Hahaha. You hit the nail on the head perfectly. MAYBE if you explained that a loaf of bread could possiblly cost $1400, she might understand a little. I had a lady at work seriously ask why we don't just print enough money to pay off the debt. I had no idea where to begin explaining basic economics to her but was pretty proud that I didn't laugh in her face. Link to comment Share on other sites More sharing options...
OnMyWay Posted January 10, 2013 Posted January 10, 2013 I already have one of these. I have it for sale on e-bay for a discounted price of 1 billion, if anyone is interested. I only accept Paypal. CMON... is that your LAST PRICE? That is the "Buy it now" price. Minimum bid is 50 cents! :no: Link to comment Share on other sites More sharing options...
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