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Now That The Trollin' Dollar Coin Is Back...
Ten days ago, knowing full well what was coming, we asked a simple rhetorical questions.
Where is the trillion dollar coin? The people demand to laugh
— zerohedge (@zerohedge) September 29, 2013
A week later, assorted tabloids specializing in kittens and slideshows have made the people happy once more.
However, for the benefit of everyone who may have forgotten that this absolutely idiotic idea is nothing new, and was tried the last time the US was on the verge of default, which under Obama is happening with an annual periodicity, here is a reminder of what both the Fed and the Treasury have to say on this particular topic.
The Treasury Department will not mint a trillion-dollar platinum coin to get around the debt ceiling. If they did, the Federal Reserve would not accept it.
That’s the bottom line of the statement that Anthony Coley, a spokesman for the Treasury Department, gave me today. “Neither the Treasury Department nor the Federal Reserve believes that the law can or should be used to facilitate the production of platinum coins for the purpose of avoiding an increase in the debt limit,” he said.
Of course, this will not prevent this particular idea from once again trolling up and clogging the NSA's servers (on those days in which they haven't short circuited) as is to be expected in any truly self-respecting banana republic.
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<---- We're fucked
<---- We're totally and unapologetically fucked
Forget the Trolling Dollar,
I prefer the Trolling Saruman:
http://www.youtube.com/watch?v=KaqC5FnvAEc
.gov wants platinum for coins? I have some that I will sell for just $1,000,000 each.
If the Criminals at the Fed wont accept money from the Treasury, how about we confiscate their presses and just print Dollars? Tell me the cock suckers won't accept Dollars...
Speaking of criminals, did you hear how this guy talks about criminal cops: http://www.youtube.com/watch?v=GXBLDL0GoEA
Moscow Cat Theater - your point is invalid.
http://www.youtube.com/watch?v=HlKYtLlvRlU
The $1 Quadrillioon Rhodium Coin
Highandwired
Maybe this is why Rob Furlong is in trouble up in Edmonton, for pissing on fellow cop.
Maybe he couldn't stand the psychopaths he had to work with on the force.
http://en.wikipedia.org/wiki/Rob_Furlong
Now do you see why I said* I liked Platinum better than Gold? PLATINUM, Bitchez! ;-)
* Mon, 10/07/2013 - 23:33 | 4032981
<---Because Obama...
<---Not because Obama...
Because Bernake
Because Blankfein
But wait! There's more...
I'll take two and a loaf of bread please
I recently bought some chocolate 'gold' coins. I value them each at $1,000.
Any takers, or should I just assume that the Federal Reserve (and Paul Krugman) will be the only potentials?
Does that chocolate gold coin have a broken window?
i could get behind this if obama's face were minted on the coin, ensuring he would own this chapter of his legacy.
I just want a relica commemorative coin with his face on it. I'll have it surgically implanted in the crack of my ass so I'll have something to smile about every time I wipe my ass for the rest of my life...
Of course they couldn't take it. At current spot prices a Trillion dollar platinum coin would be about the size of a football field.
At current spot prices, how much is a zinc penny worth?
BitCoin, Mk II- the full jazz odyssey.....
Bitcoin is back up to the 120's again. Governments can't kill that fucker (or confiscate the Bitcoins that are encrypted).
Gold and silver had a good run, but ultimately the bankers figured out how to supplant them with paper money and remove "backing" without causing much of a public outcry. Bitcoin is the real future of money. It's time we try something new rather than repeating the mistakes of our ancestors.
Where is your stinking bitcoin when the grid goes down?
Where is your stinking bitcoin when the grid goes down?
Waiting five minutes for my generator to crank up.
Attacking something you don't understand is not smooth.
..and assuming you will have unfettered access to the internet is what?
What if the government outlaws the sale and ownership of gold, like they've done in the past? Then what, gold bug? :)
I think most Americans wouldn't mind. Most Americans don't own gold. But in order to stop Bitcoin, governments would have to shut down the entire Internet. People wouldn't be too pleased with that.
When the grid goes down, I'm not worried about my BTC.
I'm worried first and foremost about the 145 Fukushimas about to happen..
Your generator powers the grid?
Tell me, where do I buy such a generator?
Tell me, what do I do when the government sends troops to my door to confiscate my gold? What do I do when the TSA and border patrol are taking gold from people who are leaving the country?
Buy more ammo?
Give them your lead first?
And if you're going to leave the country, consider one of those guys that lead people up from Mexico. I'm sure they'd welcome the opportunity to not have to dead-head back.
dude don't even bother, most of the people you are arguing with are still connecting via AOL dialup
LOL Yes.
Tell them to look at the bottom of my favorite fishing hole. Those damn boating accidents, man...
"Waiting five minutes for my generator to crank up."
Pointless unless you have an internet, and a working infrastructue. I doubt you find a single local merchant that will allow you to buy something using Bit-coin or dollars if the dollar dies.
Same with gold. Most merchants would laugh in your face if you tried to buy something with a gold coin. They wouldn't have a way to know it's real.
Yes, not recognizing real money (from the US Treasury) over counterfeit fiat (FRN) has long been a problem. Right up there with humans that can't make change.
Bitcoin, by comparison, is impossible to counterfeit. And making change with Bitcoin is done automatically since its purely digital.
Look, I'd love to support gold and silver money. But we already tried that. And it failed. Governments still got what they wanted.
Most merchants, yes. The manager of the Indian supermarket up the block will sell me all kinds of things and say "Thank you! Come again!" and mean it.
On my hard disk, and the hard disks of millions of people in other countries where "the grid" isn't down.
Bitcoin is redundant. Unlike gold, which is easily confiscated.
bitcoin is INVISABLE................
fixed for ya
A trillion dollar coin would simply "free up" a trillion dollars that would have otherwise gone to paying the interest on the debt. That newly freed up money would flood the economy and cause inflation.
I swear I think MMT'ers are retarded.
They are 'progressive.'
This is a message from the Dept. of Redundancy Dept.
Paul Krugman, who endorses attacking Mars & has won a Nobel Prize for some research he did many years ago regarding comparative trade, said that the nest thing for USSA is much higher inflation during a period of real wage declines & extraordinarily high rates of unemployment and underemployment (with robots & machines replacing more human workers with each passing month).
.. just for the record.. it was a Nobel "AWARD".. a boondoggle the Nobel turds contrived to expand their influence.
TruthInSunshine, this is not true. Nobel Laureate Dr. Professor Paul Krugman does not endorse attacking Mars
what he thinks is that IF Mars attacks the US and destroys nearly every single window, door, roof, machine and anything of value THEN the US would experience the greatest economic boom ever witnessed, IF neo-Keynesians recipies are used
a big difference. concentrate, man. Dr. Krugman also said that the EUR is doomed
Technically, you're right.
I looked back at the interview Krugman did and he actually stated he supported a 77 trillion (with a "T") USD "When Mars Attacks" stimulative defense/force field/Uranus Dome/Plasma Minefield/Phaser Gattling Gun/Space Goo program.
So, Krugs was endorsing DEFENDING earth from a vicious, sudden & relentless attack by Mars.
No, I think he was advocating opportunistic pillaging of public monies, profiting from Schadenfreude as it were.
close your eyes and think of England. ehm. I mean jobs. definitely lots of jobs. don't ever forget to promise jobs
I happened to catch a Max Keiser clip with Stacey (my local vet hospital that has a receptionist that very much resembles Stacey) wherein they spoke of using the Royal Trust ( I think they called it a trust) as a sovreign wealth fund, since England has none and a lot less gold. Of course, a view out the window behind Max of London and some odd steel and glass thing was in the shot.
of course. you see, the best outcome starts with US windows being broken. if other people's windows get broken you get into a lot of hassle in befriending them afterwards, so that you can "assist" them in repairing their windows
not as efficient
I'm trying to make some humour here, but I witnessed once a discussion he had with students on the Marshall Plan which nearly made me cry
until he started to pontificate about the EUR, then I could laugh again
Must pay moar SNAP AND THE DoD
Screw the trillion dollar coin, let's just start minting the quadrillion dollar coin.
why not just hand in 18 of those coins and voila, gone is the debt ... right?
"why not just hand in 18 of those coins and voila, gone is the debt ... right?"
better to mint half-million of them. After the first 18 are used, the rest will be spend in rapid succession as they dollar dies and the fed gov't tries to build a death star in vain attempt to hold the empire together.
Mail one to china and call it even
18 coins? No No No.. just one 18 Trillion dollar coin.
That's efficiency! You must be German :-)
If you see catalytic converter company whose primary client is GM take a closer look at their financials if the FED and other 'in the club' types like Buffett and Soros are also invested then the trillion dollar platinum coin is coming up next. It would be probably the only way to turn it back into capitol.
They didn't say they wouldn't mint a silver coin just platinum. Truth is in the detail no doubt.
Unless the "coin" is a Federal Reserve Note......they will not accept it in their "bank".
Remember, the Petro-Dollar is the Federal Reserve Note. The whole "Unites States Dollar" thing on the actual bills are just there for show.
The Fed, nor its funny money, IMO.....doesn't represent, nor will it ever represent, the TRUE faith and credit of the United States (just the banana republic that is governs by the lot of assholes in there now). After the Fed goes busto (and it will), the US Dollar will still exist (the "US" might be different, however).
I actually wanted them to mint the coin just to shut all of you assholes up. ANd make it in Tungsten while you are at it, for full "fraud" effect.
In the end, it doesn't fucking matter: we are fucked anyways and the people we put in charge are quite possibly the dumbest people in the history of forever.
Not dumb, just willing and complicit in the scam.
Useful idiots, if you will.
Question: I have a 1997 U.S. Platinum Eagle. Will this also be worth a trillion dollars if they decide to go that route? The U.S. mint hasn't produced platinum coins since the Lehman collapse in 2008 so I suppose I would be willing to sell mine to Obama for 500 billion dollars our Treasury Dept. doesn't have any more platinum... due to the U.S. insolvancy.
500 billion would be my rock bottom though. I really don't trust paper money from the U.S. and it's not like I'm in a big hurry to sell it.
Congress decides what is legal tender. Who gives a rip if the Federal Reserve accepts it?
Oh yeah? Well howz about the trollin' dollar voice! Crank up the Edward Khil baby, yeah!
http://trololololololololololo.com/
Forget the coin, the Treasury does not need to BORROW dollars, just order whoever created Barry's birth certificate to create a deed to the Brooklyn Bridge and then send Jack Lew over to Ben's drive-in window and SWAP it for dollars with a wink a nod to make it up later, it's not like the FED doesn't have the latitude in what it accepts as collateral for cash, or what it allows said collateral to be valued at, or like they aren't already just swapping one piece of fraudulent .gov promise for another...
If they actually wanted to avoid a default there are myriad realistic options that the private sector is using EVERY day to help governments all over the world get mo' cash and hide debt.
Do it, just do it. I wanna see the coin........
Think bigger. Think atomic number 94. Plutonium coins. At 10 Trillion a piece they are priceless, even though they're not really a coin, more of a ball. Obama can display one next to his peace prize.
However a blood of little children coin might be acceptable.........
Dis is Merica damn it, use liquid paper for that coin.
Bartender! Double purple drank-shaken, side of bathsalts, if you please.
Money is worth exactly what the two parties exchanging it think it is. It is the power of consciousness these satanic magicians have had a grip on. That is why you can't just create a trillion dollar coin. In a global economy the rest of the world will say no deal.
Time for some "Thunderclap"!
http://www.youtube.com/watch?v=ZNK5jVkv0vM
By the way for anyone watching the video above please forgive me for the selection especially at the end of it with the red circle drawn around "Satans asshole". But as you can see by the date alot has happened to us even since 2010 when this was uploaded.
Okay, I'll admit it. I wasn't going to click this link until your whole "Satan's Asshole" shpeel. Because of that, I just had to see.
Just wanted to let you know that I laughed my as off. Have an upvote.
Waiting for Pauli Krugman, pointing out that this is small minds' thinking - we need at least a quadrillion dollar coin!
It doesn't have to be a platinum coin.
If it is only a one trillion dollar coin, copper might be better. Otherwise people might begin to hoard these coins in the coming hyperinflation.
To mess with people's heads, make 3 trillion dollar coins.
One for China...
One for Japan...
and with the third coin, tell the rest of the creditors no change, so they'll have to fight to divy up that last coin.
Tell me again why Treasury printing $1T to redeem bonds is ridiculous, but Fed printing $85B/month to redeem bondholders is prudent?
Ah yes. In the first case, taxpayers are relieved of a burden. In the second case, Treasury OWES THE FED after the transaction.
If you don't believe this govt will do ANYTHING you don't understand this govt. Anything and EVERYTHING will be on the table with a Chicago crime master running this country.
It is actually too bad that the media has portrayed the idea of a $trillion coin in such sarcastic light. If you really think about it, if we did do that, the government would be taking back its constitutional right to coin money. So instead of paying interest on our entire money supply that is borrowed from private banks, the government could print it itself and save all the interest charges. These interest payements are approx $350 billion annually. Can you imagine what we could do with that kind of money? Rebuild our infrastructure, lower taxes, fund higher education, scientific research, lower the deficit, and other things that would naturally stimulate the economy.
Now you can bet that the Wall St types will pull out all their big guns to ridicule this idea, since the government printing its own interest free money is essentially is a stake in the vampire's heart. So all the small minds will parrot the propaganda they heard on the media about this being such a silly idea and it probably will not happen. So we will continue paying this debt until the overhang becomes so big, it will simply collapse under its own weight (it is probably pretty close to that point now).
For those who really want to open their minds, read the book "Web of Debt", by Ellen Brown. You will never look at money, banks, and government the same way after you are done reading this.
Disclosure: I receive no payments for this book endorsement, nor do I profit from its sale in any way.