That is called bankruptcy .They may think they can do what ever they want with ink and paper but that kind of shit would not pass anywhere.If the USA government does such a thing 3 minutes later the banks will be full of people wanting to change their "american paper" with some other currency.And that means say hello to inflation.Originally Posted by Steven Douglas
Sounds like a Triganic Pu / Ningi situation ...
Truly, Douglas Adams was a Prophet.
Last edited by Occam's Banana; 01-04-2013 at 12:11 PM.
Frederic Bastiat
When law and morality are in contradiction to each other, the citizen finds himself in the cruel alternative of either losing his moral sense, or of losing his respect for the law. - The Law Government is that great fiction, through which everybody endeavors to live at the expense of everybody else. - Government
+rep for Hitchhikers!
I say go for it. Burn this baby down to the ground and start over.
So, mint a platinum coin the size of a silver dollar, and just arbitrarily assign the value of $1Tn.
Wouldn't that be exactly the same as QE (just printing money) but from the Treasury instead of the Fed? I suspect that the IMF would have a serious problem with that, and in turn lead to a global dollar selloff thus seriously enhancing the current crisis. A LOT.
Hmm. Well, if they refuse to let the adults in the room actually fix the problem, this could be one way to provide a teachable moment that creating fake money is destructive, and go ahead and crash the dollar immediately so we can go about solving the problem now instead of just waiting around with our thumbs up our rear until the lunacy of our current course strikes enough voters to make real change.
I'd rather fix the problem, personally, but this does look like one of the less painful methods of economic self destruction. If economic suicide is the only option that the banksters and partisan establishmentarians are going to let us take, then this would seem to be one of the better forms of economic suicide from among the several options already presented.
No, apparently only about half a million pounds of platinum has ever been mined in the history of the world.
There is approximately 180,000 tons of gold on and in the entire planet Earth when you add mined and unmined together, and scientists guess there there is about 1/10th the amount of platinum on the planet, making roughly 18,000 tons, or around 36 million pounds.
Since $1Tn worth of platinum is a little over 40.3Mn pounds, and the entire planetary physical supply of platinum, mined and unmined together is around 36.5Mn pounds, I would venture to say it is unlikely there is enough physical platinum on the entire planet earth to mint such a coin.
Incremental bankruptcy, all by degrees. It's a game of Economic Jenga really, as one slat after another is removed from the bottom of the original foundation. Roosevelt to Citizens in '33, Nixon to other governments in '71, and on to whatever form it eventually takes, when finally it all collapses, and at a sudden pace that is much faster than most can possibly imagine.
Their small town eyes will gape at you in dull surprise when payment due exceeds accounts received at seventeen.
- Janis Ian, At Seventeen
Last edited by Steven Douglas; 01-04-2013 at 02:23 PM.
Only three ways out of this mess:
1 - Inflate
2 - Repudiate
3 - War
Two down, one to come ...
When law and morality are in contradiction to each other, the citizen finds himself in the cruel alternative of either losing his moral sense, or of losing his respect for the law. - The Law Government is that great fiction, through which everybody endeavors to live at the expense of everybody else. - Government
liberal econ trillion dollar coin
http://www.huffingtonpost.com/mobile...n_2409704.html
Oh good the debt is fixed
A society that places equality before freedom with get neither; A society that places freedom before equality will yield high degrees of both
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