I'm Going to Mint a Billion, no...TRILLION Dollar Coin

Discussion in 'Politics & Current Events' started by Cascarino's Pizzeria, Jan 7, 2013.

  1. Cascarino's Pizzeria

    Apr 29, 2001
    New Jersey, USA
    Can't wait to go to A.C. with this bad boy:

    Be Ready To Mint That Coin

    Should President Obama be willing to print a $1 trillion platinum coin if Republicans try to force America into default? Yes, absolutely. He will, after all, be faced with a choice between two alternatives: one that’s silly but benign, the other that’s equally silly but both vile and disastrous. The decision should be obvious.

    For those new to this, here’s the story. First of all, we have the weird and destructive institution of the debt ceiling; this lets Congress approve tax and spending bills that imply a large budget deficit — tax and spending bills the president is legally required to implement — and then lets Congress refuse to grant the president authority to borrow, preventing him from carrying out his legal duties and provoking a possibly catastrophic default.

    And Republicans are openly threatening to use that potential for catastrophe to blackmail the president into implementing policies they can’t pass through normal constitutional processes.

    Enter the platinum coin. There’s a legal loophole allowing the Treasury to mint platinum coins in any denomination the secretary chooses. Yes, it was intended to allow commemorative collector’s items — but that’s not what the letter of the law says. And by minting a $1 trillion coin, then depositing it at the Fed, the Treasury could acquire enough cash to sidestep the debt ceiling — while doing no economic harm at all.

    http://krugman.blogs.nytimes.com/2013/01/07/be-ready-to-mint-that-coin/
     
  2. Knave

    Knave Member+

    May 25, 1999
    As long as it looks like this ...

    [​IMG]

    ... I'll be happy.
     
    Dyvel, JBigjake and dapip repped this.
  3. Matt in the Hat

    Matt in the Hat Moderator
    Staff Member

    Sep 21, 2002
    Brooklyn
    Club:
    New York Red Bulls
    Nat'l Team:
    United States
    The GOPs handlers will never let this happen. Too much money is at stake when the full faith and credit of the nation is on the line. Obama can call their bluff at will.
     
  4. Crimen y Castigo

    May 18, 2004
    OakTown
    Club:
    Los Angeles
    Nat'l Team:
    United States
    I heard a fraction of a slice of a snippet of a news segment about this the other day -- and that is the entirety of my knowledge of this proposed solution or the economic theory behind it.

    Therefore, let me just say with 100% certainty of conviction: Git 'Er Done!!

    Seriously -- this has to happen.
     
  5. VFish

    VFish Member+

    Jan 7, 2001
    Atlanta, GA
    Club:
    Atlanta
    I say mint the coin and then give it to Joe Biden to safeguard. What could possibly go wrong?
     
  6. Q*bert Jones III

    Q*bert Jones III The People's Poet

    Feb 12, 2005
    Woodstock, NY
    Club:
    DC United
    Well at least we'd know that Paul Ryan wouldn't dare trying to take it.
     
    Auriaprottu repped this.
  7. JBigjake

    JBigjake Member+

    Nov 16, 2003
  8. VFish

    VFish Member+

    Jan 7, 2001
    Atlanta, GA
    Club:
    Atlanta
    [​IMG]

    Translation from black speech:

    "One coin to rule them all, one coin to find them,
    One coin to bring them all and in the darkness bind them."
     
  9. Roel

    Roel Member

    Jan 15, 2000
    Santa Cruz mountains
    Club:
    Liverpool FC
    Nat'l Team:
    Netherlands
    Too much awesome! But for this to really fly, it would need to a $20 trillion dollar coin, and it would need to have W's face on it.
     
    Chris M., dapip and crazypete13 repped this.
  10. Smurfquake

    Smurfquake Moderator
    Staff Member

    Aug 8, 2000
    San Carlos, CA
    Club:
    San Jose Earthquakes
    Nat'l Team:
    United States
    Racist!!!!111
     
  11. superdave

    superdave Member+

    Jul 14, 1999
    VB, VA
    Club:
    DC United
    Nat'l Team:
    United States
    Thank God I don't have you on ignore, vfish, or else I would have missed this early, but strong, contender for post of the year.
     
  12. HerthaBerwyn

    HerthaBerwyn Member+

    May 24, 2003
    Chicago
    Put Reagan's face on it and leave 'In God We trust' off of it. Watch heads explode three times.
     
    cleansheetbsc and Crimen y Castigo repped this.
  13. purojogo

    purojogo Member

    Sep 23, 2001
    US/Peru home
    Club:
    New York Red Bulls
    Nat'l Team:
    United States
    W's picture in his flight suit declaring "mission accomplished" would be more appropriate////so yeah do not change that facial expression....just the clothes the guy wears....
    NOthing ...."this is too ********ing precious America....."
     
  14. Chris M.

    Chris M. Member+

    Jan 18, 2002
    Chicago
    A Vegas casino should make a massive slot machine that only takes the trillion coin.
     
  15. Cascarino's Pizzeria

    Apr 29, 2001
    New Jersey, USA
    That's what I was thinking. Every year on Dec. 31st one lucky 'Merican gets to go to Vegas (we could rotate the casinos like the BCS championship game) and place the trillion dollar coin on Red or Black at the roulette wheel to see if we double our money (spend like crack ho's the next year) or lose our money (cut food stamps, Medicaid & Medicare the next year).

     
  16. dapip

    dapip Member+

    Sep 5, 2003
    South Florida
    Club:
    Millonarios Bogota
    Nat'l Team:
    Colombia
    Big Gigantonormous NRCC Failure...

    http://maddowblog.msnbc.com/_news/2013/01/09/16431779-the-nrcc-forgets-how-money-works

    This morning, the NRCC argued, apparently in all seriousness, "The amount of platinum needed to mint a coin worth $1 trillion would sink the Titanic." To help drive home the point, the campaign committee even created an image of a President Obama platinum coin weighing down the Titanic.

    Making matters slightly worse, the NRCC says the coin would "pay for [Obama's] spending," which suggests Republicans still don't understand that the White House cannot legally spend money that hasn't already been approved by Congress.
     
  17. JohnR

    JohnR Member+

    Jun 23, 2000
    Chicago, IL
    You can't parody those people.

    Pretty sure they understand this point, but choose to lie. It's not as if the NRCC doesn't make a habit of lying.
     
  18. dapip

    dapip Member+

    Sep 5, 2003
    South Florida
    Club:
    Millonarios Bogota
    Nat'l Team:
    Colombia
    So many explanations.. A parallel universe where The Onion dictates reality comes to mind..



    I agree about the lying part but I'm not sure they understand.. Exhibit A: Rmoney explaining how obama's medicare savings where cuts but Ryan's cuts where savings... He couldn't justify neither...
     
  19. JohnR

    JohnR Member+

    Jun 23, 2000
    Chicago, IL
    Per the RNCC, you need tons and tons of platinum to get a trillion dollar coin, but only a gram or so of paper to make a trillion dollar bill.

    Who knew? Sure am glad the RNCC is around to do the hard thinking.
     
  20. song219

    song219 BigSoccer Supporter

    Apr 5, 2004
    La Norte
    Club:
    DC United
    Nat'l Team:
    Vanuatu
    No wonder the Iranian news agency was taken in by The Onion's article showing American support for Ahmadinejad over Obama. Their obvious source for information on America has been NRCC press releases.
     
  21. VFish

    VFish Member+

    Jan 7, 2001
    Atlanta, GA
    Club:
    Atlanta
    So, after floating this cockamamie trial balloon it looks like Obama's new Treasury Secretary's signature will look like this:
    [​IMG]
    To be honest, that seems about right. If we are going to be minting trillion dollar coins and printing monopoly money the currency might as well be adorned with a clown's signature.
     
  22. Mattbro

    Mattbro Member+

    Sep 21, 2001
    The coin doesn't have to be minted. The GOP could stop acting childishly and threatening to cause the government to default. Wait, what am I talking about? The GOP is never going to stop acting childishly.
     
    Auriaprottu repped this.
  23. VFish

    VFish Member+

    Jan 7, 2001
    Atlanta, GA
    Club:
    Atlanta
    You do actually have mint the coin, obviously it won't require a trillion dollars worth platinum, but you do have to mint it. Now that the board is actually defending this stupid gimmick I hope the administration pushes forward. It will go over like a Led Zeppelin.
    [​IMG]
     
  24. Q*bert Jones III

    Q*bert Jones III The People's Poet

    Feb 12, 2005
    Woodstock, NY
    Club:
    DC United
  25. Cascarino's Pizzeria

    Apr 29, 2001
    New Jersey, USA
    Trolls might steal it and take it to middle earth if you put the Zeppelin logos on it

    I propose this one

    [​IMG]
     
    VFish and Crimen y Castigo repped this.

Share This Page