Moneymoney

Wed Oct 5, 2016, 02:40 PM

US Treasury Mints $20 Trillion Coin

to pay off the debt.

That would be nice, wouldn't it?

8 replies, 628 views

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Reply US Treasury Mints $20 Trillion Coin (Original post)
Cyberpunk Oct 2016 OP
rumnrockets Oct 2016 #1
rampartb Oct 2016 #2
rumnrockets Oct 2016 #3
oflguy Oct 2016 #5
oflguy Oct 2016 #8
Badsamm Oct 2016 #7
ibtruthin Oct 2016 #4
Badsamm Oct 2016 #6

Response to Cyberpunk (Original post)

Wed Oct 5, 2016, 02:52 PM

1. Well...the treasury mints money for the federal reserve banks...

so it wouldn't help government books any.

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Response to rampartb (Reply #2)

Wed Oct 5, 2016, 03:46 PM

3. Interesting.

Didn't know about "platinum coin" law. Didn't know the Treasury could mint money to put into its own account.

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Response to rumnrockets (Reply #3)

Thu Oct 6, 2016, 08:42 PM

5. The government does not create money silly people

The people do

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Response to rumnrockets (Reply #3)

Fri Oct 14, 2016, 03:35 PM

8. The government has been making novelty coins for decades

Proof coins, commerative coins, heck, even the oodles of Washington quarters they make that are collected by coin collectors. For every quarter the government mints and is "sold" to a collector, it is income for the government, minus the cost to make the coin.

There is just one small problem with a trillion dollar coin...how does it get into circulation? No Federal Reserve bank in its right mind would accept it. It's only worth would be the value of the raw material in it. No citizen has the kind of money to buy it directly from the US Treasury (like proof coins). Sure, the Federal Reserve accepts pennies, nickels, dimes, quarters, dollars, etc at their stamped value from the mints even though they contain less than that value in bullion, but that is only because they can unload them on the people for face value.

A trillion dollar coin would have no such use.

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Response to rampartb (Reply #2)

Sun Oct 9, 2016, 04:53 PM

7. If there ever were another American revolution

He would be in the first group rounded up for the chopping block.

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Response to Cyberpunk (Original post)

Wed Oct 5, 2016, 05:08 PM

4. Truman tried this and failed..............

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Response to Cyberpunk (Original post)

Sun Oct 9, 2016, 04:51 PM

6. Why waste the metal when you can just add zeros to the computer screen

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Moneymoney