ST Alpha - "I don't get the theory behind minting the coin, can someone explain? What impact would it have? -- (link)" (Reading a Post)

SlickerTalk
Search Archives
The Leaderboard
The FAQ

Login
Create Account

Search Dr. S. Talk
TT/ST Wiki
How Well Do You Know ...

RSS Feed

Hosting by DigitalOcean

Support ST on Ko-Fi

Down to Post

Backboards:

Posts: 157

I don't get the theory behind minting the coin, can someone explain? What impact would it have? -- (link)

Posted by ty97 Apr 16 '20, 11:37

(No message)

https://twitter.com/RashidaTlaib/status/1250845322072461312 (twitter.com)

Responses:

Oh not the trillion dollar coin bs again. -- nm - spamlet Apr 16, 12:04 10
- Alas yes -- (edited) - ty97 Apr 16, 12:07 7
  - It's no more a gimmick than printing bills and minting coins. Most financial transactions are electronic - TWuG Apr 16, 12:17
  - It is. The last time this came up was during the Obama years and they were battling with the GOP over the debt ceiling. - spamlet Apr 16, 12:08 5
    - Yeah, I remember the 'mint the coin' faction during the Obama years fight. -- nm - ty97 Apr 16, 12:09 4
      - And I assume she means $2,000 per family and not per person. - spamlet Apr 16, 12:10 3
        
        The last I saw it was $2k for every person over 16 (with income under $133k). -- nm - pmb Apr 16, 12:23
        
        No, I already called dibs for Logan. -- nm - Spawn Apr 16, 12:11
        
        man, I need to adopt a dozen kids, right quick -- nm - decline Apr 16, 12:10
- *ends up in a bell ringers can at Christmas* -- nm - Spawn Apr 16, 12:06
- excellent -- nm - Monty Burns Apr 16, 12:05
It's just a McGuffin as a plot point to National Treasure 3. -- nm - Mop Apr 16, 11:55
"every person"? So Logan gets the max as well? Sweet! As do billionaires? Uhm... -- nm - Spawn Apr 16, 11:45 2
- There are 607 billionaires in the US. Raise their taxes to offset the payments. -- nm - TWuG Apr 16, 11:48 1
  - I meant to say millionaires! -- nm - Spawn Apr 16, 11:54
It's just a way of creating a security to represent the creation of the funds. Basically, the US government can create money and the coin would be - TWuG Apr 16, 11:43 1
- Technically the Federal Reserve creates money, not the US government. Although it probably feels like they can atm. -- nm - Loyola Apr 16, 11:48
I feel like this would do more harm to the national economy that anything and reduce the value of the dollar. - sycor Apr 16, 11:41
Sounds like "buy war bonds" -- nm - Max Apr 16, 11:40
"a proposed way to bypass any necessity for the United States Congress to raise the country's borrowing limit, through the minting of very high-value platinum coin" -- (link*) - decline Apr 16, 11:39 5
- Would it not cause inflation? Or dollar devaluation? -- nm - ty97 Apr 16, 11:43 4
  - Both? Think Quantitative easing without worrying about a debt ceiling (if I understand correctly) -- nm - decline Apr 16, 11:48
  - Both. But neither is a large concern right now. - TWuG Apr 16, 11:46 1
    - Your IM explains our current government very well. -- nm - Spawn Apr 16, 11:46
  - How low can you go? -- nm - Spawn Apr 16, 11:45

Post a message top

Replies are disabled on threads older than 7 days.