Stephen Colbert Takes On The Trillion Dollar Coin

Tyler Durden's picture

We were wondering how long until the latest lunatic idea out of the "serious economist" mainstream would get the proper comedic treatment it so rightfully deserves. That time finally came last night when Stephen Colbert gave it the 3 minutes of attention it almost deserves. Oh well, now that it has made the comic circuit it is time to officially forget about this idiotic idea... At least until the next debt ceiling crisis in a year or so when like a bad sequel to Weekend at Bennie's Bernie's, it is resurrected once more.


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amadeusb4's picture

Like the debt ceiling itself is not more ridiculous than a trillion dollar coin!

jacksmedullaoblongata's picture

The trillion dollar coin is no more ridiculous than the Far Right nuts holding the government hostage.  It's good to know there is an option out there to keep the government running.  I don't know why I check the headlines on Zerohedge, everything has been wrong since the financial crisis first hit.  I guess a stopped clock is right twice a day.  What was gold going to go up to?  $5,000?  Good luck with that.  This is not much more than an outlet for nutjob survivalists and gun freaks.

IridiumRebel's picture

So why are you here? A better question is why are we at 16.4 trillion debt and rising where we have to consider the thought of a trillion dollar coin that may "keep the government running". You are the problem. Your complicity in this madness is the reason these horrific ideas are coming up. We should definitely supplant the economic well being of the country so your fucking daily trades can keep going. The great depression had the same type of market moves from 1929 to 1933. I honestly hope you are right, but ZH has been quite prescient in it's coverage. You are fully clueless and part of the problem. The rest of the world will dump our credit worthiness for the trash heap of history if you get your wish. Do you endlessly run your credit cards to financial ruin in your household? Probably not. The country cannot continue to run this way. Go back to marketwatch and yahoo finance where you can talk about trading ideas in a "volatile market". Our reckoning is coming. It is a mathematical certainty and this coin idea proves it. People like you will get raped when it happens and it is the people ahead of the curve who will thrive. 

Dr. Sandi's picture

The trillion dollar coin, or 'Trilly' would put a slug in the belly of the beast. And the other 16 that logically must also be minted would polish the beast off.

It is time to kill the beast now with this exercise in stupdity, while we still have a few resources and enough tattered citizen confidence left to rebuild a functional economy.

We can create money by minting and printing, but we can't create wealth. Wealth takes actual labor and resources. Without real wealth, the ever expanding pool funny money will eventually collapse under the weight of its own fraud.

silverserfer's picture

I don't see why the coin shouldn't be cupronickel. making it out of platinum might confuse the sheep

Chmee's picture

It's because of the way the law about minting coins is written.  The value of coins must be approved by Congress, except the platinum coin.  It wasn't meant to be used in the way the current proposal is being made though, it was supposed to be about specifically the coins the US Mint sells for "commeratives", like tee gold and silver Eagles.  I'm not up on the whole story here, just the generalities of it.

AldoHux_IV's picture

I haven't watched MSM in a long time, but it's more apparent how much they profit off of the diarrhea of political bullshit and whitehouse tint-- wonder how many people actually live by the MSM...

Setup the crazy so nothing seems sane-- that's how Bush did it, that's how Obama does and you know what? It's fooled America so far.

Fix It Again Timmy's picture

A Trillion Dollar Coin - now that would be great for a Bar Mitzvah....

Clowns to the left_ jokers to the right's picture

Spot price right now is $1,579 so it would only take 633,312,223 ounces or 39,582,014 pounds or 19,791 tons. No biggie. Now realistically it would be a platinum coated slug worth maybe a few bucks but why bother stopping with one trillion? Go for it and make it $16.4 trillion. Mint a new one every year to cover the deficit or maybe even the entire budget. That way you can use taxpayer money for important things like studying the mating habits of desert turtles or giving out birth control to confesed sexaholics.

The stupid, it burns.

swanpoint's picture

$1T should 'em through to October, '13.

MagicMoney's picture

Why not just have a coin made out of block of concrete and stamp 1 trillion on it.

Ryuukai's picture

I hope you realize that Colbert is a parody of the Right

Chmee's picture

Colbert's hillarious. 

I still think they should mint one, just for fun.  I'd love to see the look on Uncle Bennie's face when Obama goes to the Fed Bank and makes the deposit.

They Tried to Steal My Gold's picture

Why have a coin with a bald eagle and a bald black man ....when you can have......


a I Trillion "White man with hair Max Keizer flipping the bird" coin

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BlackVoid's picture

It should be depleted uranium at least.