The Trillion Dollar Coin - To Pay The Debt?

Anti-Party

Anti-Party

Tea Is The New Kool-Aid
I get confused here, I'll admit it.

So. The American government prints up fancy IOU's to give to the Federal Reserve, so they in return will print up fancy money based only on the regulations of how much money is allowed to be in circulation. Because we don't use the gold standard or even a partial gold standard anymore.

The people who run the Federal Reserve are the richest people in the world. Many say they are just printing money out of thin air.

So we owe the majority of the money to the Federal Reserve. Basically we just owe ourself the majority of this money. This Trillion Dollar coin is appearantly supposed to be printed out of thin air to pay off what we owe the Reserve. This would drop our debt down to only what we owe other countries, I guess?

Or is it that we are borrowing this money from the rich people that run the reserve who are printing the money?

I don't know what to think about this and I'm sincerely confused. Maybe I've watched too many conspiracy theory videos..

http://www.huffingtonpost.com/2013/01/07/trillion-dollar-coin-solution_n_2426333.html
 
Anti-Party said:
I get confused here, I'll admit it.

So. The American government prints up fancy IOU's to give to the Federal Reserve, so they in return will print up fancy money based only on the regulations of how much money is allowed to be in circulation. Because we don't use the gold standard or even a partial gold standard anymore.

The people who run the Federal Reserve are the richest people in the world. Many say they are just printing money out of thin air.

So we owe the majority of the money to the Federal Reserve. Basically we just owe ourself the majority of this money. This Trillion Dollar coin is appearantly supposed to be printed out of thin air to pay off what we owe the Reserve. This would drop our debt down to only what we owe other countries, I guess?

Or is it that we are borrowing this money from the rich people that run the reserve who are printing the money?

I don't know what to think about this and I'm sincerely confused. Maybe I've watched too many conspiracy theory videos..

http://www.huffingtonpost.com/2013/01/07/trillion-dollar-coin-solution_n_2426333.html
Click to expand...


Basically, the Treasury Secretary directs that a platinum coin be minted with a value of $1 Trillion and the government continues to fund its operations through coin-backed spending and them when the Congress comes to its sense it raised the debt ceiling the coin gets melted down and the government issues bonds to cover the previously coin-backed spending. It'll never happen, but that's the scenario.
 
Dungheap said:
Basically, the Treasury Secretary directs that a platinum coin be minted with a value of $1 Trillion and the government continues to fund its operations through coin-backed spending and them when the Congress comes to its sense it raised the debt ceiling the coin gets melted down and the government issues bonds to cover the previously coin-backed spending. It'll never happen, but that's the scenario.
Click to expand...

Keep on raising that credit card spending limit... that is the fastest way to solving our debt problem!!!
 
Superfreak said:
Keep on raising that credit card spending limit... that is the fastest way to solving our debt problem!!!
Click to expand...


Raising the credit card limit just raises the credit card limit. It doesn't buy anything. If Congress wants to cut spending it should cut spending. It shouldn't buy things and then refuse to pay the bill.

I don't think our debt load is actually a problem right now and even if it was refusing to raise the debt ceiling and inducing a severe recession isn't a smart way to resolve it.
 
Dungheap said:
Raising the credit card limit just raises the credit card limit. It doesn't buy anything. If Congress wants to cut spending it should cut spending. It shouldn't buy things and then refuse to pay the bill.

I don't think our debt load is actually a problem right now and even if it was refusing to raise the debt ceiling and inducing a severe recession isn't a smart way to resolve it.
Click to expand...

More nonsense from the partisan hack. Our debt isn't a problem right now... it is a problem for future generations, so lets keep on spending.... spend spend spend spend spend. That is the Dung solution to the poor economy. Dig that hole ever deeper. Right Dung?
 
Anti-Party said:
I get confused here, I'll admit it.

So. The American government prints up fancy IOU's to give to the Federal Reserve, so they in return will print up fancy money based only on the regulations of how much money is allowed to be in circulation. Because we don't use the gold standard or even a partial gold standard anymore.

The people who run the Federal Reserve are the richest people in the world. Many say they are just printing money out of thin air.

So we owe the majority of the money to the Federal Reserve. Basically we just owe ourself the majority of this money. This Trillion Dollar coin is appearantly supposed to be printed out of thin air to pay off what we owe the Reserve. This would drop our debt down to only what we owe other countries, I guess?

Or is it that we are borrowing this money from the rich people that run the reserve who are printing the money?

I don't know what to think about this and I'm sincerely confused. Maybe I've watched too many conspiracy theory videos..

http://www.huffingtonpost.com/2013/01/07/trillion-dollar-coin-solution_n_2426333.html
Click to expand...

Actually it is all part of a concerted plan that has been used by central governments for years.

The government doesn't have to tax you to confiscate your wealth. They donor through monetary/inflationary policies that rob savers blind.

The gold standard is the biggest threat to centralized government that there is

We should return to it. The Statists will laugh off this notion but they can never give a plausible economic rationale for not doing so
 
Dungheap said:
Raising the credit card limit just raises the credit card limit. It doesn't buy anything. If Congress wants to cut spending it should cut spending. It shouldn't buy things and then refuse to pay the bill.

I don't think our debt load is actually a problem right now and even if it was refusing to raise the debt ceiling and inducing a severe recession isn't a smart way to resolve it.
Click to expand...

That is a fallacious argument. Raising the debt limit is solely about raising FUTURE SPENDING. It had nothin to do with paying current bills. That is the lie told to the ignorant masses to scare them into going along with the insanity
 
I know we HAVE to pay back other nations. But why do we owe the Federal Reserve so much. Just because they printed the money?
 
Anti-Party said:
I know we HAVE to pay back other nations. But why do we owe the Federal Reserve so much. Just because they printed the money?
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It is all a scam perpetrated by the central bankers. Why do you think the Fed doesn't want to be audited? Another bipartisan fuck you to the American people
 
I Love America said:
Actually it is all part of a concerted plan that has been used by central governments for years.

The government doesn't have to tax you to confiscate your wealth. They donor through monetary/inflationary policies that rob savers blind.

The gold standard is the biggest threat to centralized government that there is

We should return to it. The Statists will laugh off this notion but they can never give a plausible economic rationale for not doing so
Click to expand...

I don't think any monitary system will work forever. Greed will always turn any money system into what we are seeing today.
 
Anti-Party said:
I don't think any monitary system will work forever. Greed will always turn any money system into what we are seeing today.
Click to expand...

Well, I don't think there is any perfect system, but I believe that if freedom and prosperity for the most people is the goal then history has shown that the gold standard coupled with free markets and limited government are the way to go.

But that ship has left the station. Now we just wait to hit the iceberg and start over
 
I Love America said:
Well, I don't think there is any perfect system, but I believe that if freedom and prosperity for the most people is the goal then history has shown that the gold standard coupled with free markets and limited government are the way to go.

But that ship has left the station. Now we just wait to hit the iceberg and start over
Click to expand...

Actually the free market has proved it fails and the gold standard proved it failed as well, both in the depression.

Rich greed had the majority begging for food while they lived lavishly paying a select few almost nothing to do a full days work. If you happen to be the guy in the crowd they didn't pick to work for the day you might starve to death along with your family.

When they couldn't mine gold fast enough the value of the dollar went down.

Maybe I'm wrong about that, but that is my understanding
 
I'm starting to become a believer that no form of currency should exist. If you have watched that movie I posted all the way through you might understand why. Zeigist Addendum.

The most incredible thing was he said if everyone made the exact same money in the world, 100% equality, that everyone would be living very comfortably. And noticing that most of the most important occupations in the world pay the least while superficial ones pay the most, it draws me even closer.
 
Superfreak said:
More nonsense from the partisan hack. Our debt isn't a problem right now... it is a problem for future generations, so lets keep on spending.... spend spend spend spend spend. That is the Dung solution to the poor economy. Dig that hole ever deeper. Right Dung?
Click to expand...


What does this have to do with raising the debt ceiling? If Congress doesn't want the Treasury to spend money, it shouldn't have authorized the Treasury to spend the money in the first instance. Not raising the debt ceiling just means that Congress won't let Treasury pay for the things that Congress has told Treasury to spend money on. It's senseless.

Also, too, refusing to raise the debt ceiling isn't a smart way to resolve a debt problem to the extent there is one. It just creates a whole host of new and bigger problems that are harder to resolve.
 
Dungheap said:
What does this have to do with raising the debt ceiling? If Congress doesn't want the Treasury to spend money, it shouldn't have authorized the Treasury to spend the money in the first instance. Not raising the debt ceiling just means that Congress won't let Treasury pay for the things that Congress has told Treasury to spend money on. It's senseless.

Also, too, refusing to raise the debt ceiling isn't a smart way to resolve a debt problem to the extent there is one. It just creates a whole host of new and bigger problems that are harder to resolve.
Click to expand...

i guess they hope democrats will seek to avoid the problems. Isn't the debt-ceiling supposed to keep them honest (by creating problems when they spend too much)?
 
I agree with getting control of the budget. The only problem is Clinton had a budget. After Bush's crazy spending and hiding spending so Americans wouldn't see it, it's taking a bit to dial in a budget again. I think I read that Bush put the war's on a different tab than National Defense. It's why no one thought the war cost that much. Then Obama changed that in 2010 and the Right wing still talks about how cheap the war is because they haven't checked lately http://costofwar.com/
 
Anti-Party said:
Actually the free market has proved it fails and the gold standard proved it failed as well, both in the depression.

Rich greed had the majority begging for food while they lived lavishly paying a select few almost nothing to do a full days work. If you happen to be the guy in the crowd they didn't pick to work for the day you might starve to death along with your family.

When they couldn't mine gold fast enough the value of the dollar went down.

Maybe I'm wrong about that, but that is my understanding
Click to expand...

How did the gold standard and the free market fail? Look at the year the Federal Reserve was created. Ever since we have had more frequent and more severe recessions. I don't think that is a coincidence
 
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