US treasury ordered to print $9 trillion to wipe out national debt

The US national debt now stands close to 8.7 trillion dollars. Congress could wipe out the entire national debt in one day by ordering the printing of $9 trillion crisp new dollar bills.

www.brillig.com...



There is not enough gold in the vaults to back up the bills in print now so whats the difference?

Let's go all out.

Whatcha think, deal or no deal?

Aweome INWT I think the public should be commissioned to help out with their Inkjets and cream a little for themselves . But seriously if they printed 9 trillion dollars it has to come back into the country somehow and thats when the dollar crashes exponentially due to the circulation problem of massive volumes of currency competing for the same items AKA Russia and the rouble in the late 80's.

Hyper Inflation = a wheel barrow full of money to buy a bag of spuds one day, 2 barrows the next.

It will not eliminate the national debt just make the value of the dollar less.

THe debt is horrible and we are getting farther and farther this needs to be the number one problem and issue.

Also we dont back our money with gold or any material jsut the good faith of the USA is all that backs our currency

This has to be one of the more funny things that i've heard on ATS for a while. I'm guessing it's toung in cheek but if not, have you thought about the implications? Any treasury could follow this 'idea', but I doubt that the U.S could give two flicks about its debt problem.

BTW the US could wipe its foreign debt at the flick of a ( Nuclear ) switch and say to the European Bankers go and get stuffed with your debt. But I strongly suspect that the US wont go under first as the Derivatives Market is 160 Trillion + and is on a tightrope as we speak which means that it will destroy all currency's and markets over night once it burst's.

Printing more bills won't lower the debt, just de-value the dollar. Also, the dollar isn't backed by gold, only on the "good faith" that the government will honor the bills when presented.

Originally posted by Katolu
Printing more bills won't lower the debt, just de-value the dollar. Also, the dollar isn't backed by gold, only on the "good faith" that the government will honor the bills when presented.

I read today somewhere that the US is looking at calling in any copper based coinage ( ! and 5c ) in circulation due to the fact the metal price of the coin is actually more than the face value of the coin.

en.wikipedia.org... ( down the bottom see worth )

They did this in Australia 10+ years ago and I weighed the copper 1 and 2c pieces I still had in a jar, woah and behold the metal price was 1.6 times the face value now.

This means the money is so devalued due to infaltion everyone who thinks there house has gone up in value must realise its the dollar that has sunk and you need more of them to buy the same house now compared to 20 years ago.

Originally posted by mazzroth

Originally posted by Katolu
Printing more bills won't lower the debt, just de-value the dollar. Also, the dollar isn't backed by gold, only on the "good faith" that the government will honor the bills when presented.

I read today somewhere that the US is looking at calling in any copper based coinage ( ! and 5c ) in circulation due to the fact the metal price of the coin is actually more than the face value of the coin.

en.wikipedia.org... ( down the bottom see worth )

They did this in Australia 10+ years ago and I weighed the copper 1 and 2c pieces I still had in a jar, woah and behold the metal price was 1.6 times the face value now.
This means the money is so devalued due to infaltion everyone who thinks there house has gone up in value must realise its the dollar that has sunk and you need more of them to buy the same house now compared to 20 years ago.

U.S. pennies haven't been made of copper since 1982, they are mostly zinc with a copper "shell". I do understand that our nickels (five cents) now cost more to make than face value.

Inflation is an ugly beast.

before the US Treasury begins printing all them Federal Reserve Notes
(which is not Gov't issued paper, but paper issued by the private banker consortum 'Federal Reserve') they
(the US Gov't Treasury) might better take heed of what a Judge has decided....

I heard on a news blurb this morning (29 nov 06)
that paper money denominations will be required to be able to be determined by blind people...
as it is now, a $1, $5, $10, $20, $50, $100 bill is confusing to blind people and therefore 'discriminatory' against a segment of the population- -
-- -- -- -- -- and that's a no-no ! -- -- -- -- --

My position is that the Federal Reserve headed up by Bernake at this time,
should be the ones being sued,,,& they should be fined billions for all those years that blind people, having no way to know if they were paying with a $20 bill
for that $1 cup of coffee in the morning.
as i see it......Our US Treasury only operates the printing press, but the Federal Reserve which is a independent contractor exclusive to the Treasury & the US Gov't
is the party that 'issues' the 'notes' & creates the credit expansion/money from nothing ~
(in something that resembles the cosmological 'universal constant' of an ever expanding Universe, and recently measured as accellerating at break-neck speed)


Sue the Federal Reserve Bank into oblivion, here's the chance dear Senators & Congress persons !! and in the process recover the ?~9 Trillion $$$ national debt
(a good portion that is owed to the Federal Reserve Bank & its operations...)


[edit on 29-11-2006 by St Udio]

Quicksilver etc. are right, printing more money will only devalue the currency and create a severe planet wide depression making the debt worse in the long run. To get a historical presepective look at Weimer Germany in the 20's. France specifically, but the other allies as well demanded reparations from Germany whether they could actually pay it or not so the government printed more and more money to cover its bills until it reached the point that it too a wheelbarrow full of marks to buy a loaf of bread. It wasn't until some financial restraint was inforced that the situition began to turn around but by then the damage was done and the financial crisis of the 20's laid the groundwork for the NAZI takeover in the 30's.

In Nothing We Trust, I couldn't find on the site where it says the U.S. Treasury has been ordered to print $9 trillion. Could you please direct me to that part of the site? This is very interesting to say the least.

screw this - you do not deserve a polite response

US treasury ordered to print $9 trillion to wipe out national debt

that is a lie - no such order has been given

and worse - the title does not match the context of your article .

Originally posted by In nothing we trust
The US national debt now stands close to 8.7 trillion dollars. Congress could wipe out the entire national debt in one day by ordering the printing of $9 trillion crisp new dollar bills.

i bolded the key word here " could " - you could not even maintain consistancy to the end of your firstr paragraph

There is not enough gold in the vaults to back up the bills in print now so whats the difference?

Let's go all out.

Whatcha think, deal or no deal?

2 words - " currency devaluation " are all you need to know to realise that your " idea " only appeals to idiots with zero grasp of ecconomics

Originally posted by In nothing we trust
The US national debt now stands close to 8.7 trillion dollars. Congress could wipe out the entire national debt in one day by ordering the printing of $9 trillion crisp new dollar bills.

www.brillig.com... is not enough gold in the vaults to back up the bills in print now so whats the difference?

Let's go all out.

Whatcha think, deal or no deal?

I didn't see anything about the treasury being ordered to print more money to wipe out debt. If you are suggesting this as a means of erasing the debt, you should first change the title of the thread and then take a peek at how badly that would devalue the us dollar. money would become worthless and we'd be in a depression of biblical proportions. Simply put, there are x amount of dollars in circulation. if you increase the number of dollars available, you decrease the value of the dollar.

Lots of interesting responses.

Seems like printing more paper is dis-liked by most.

Perhaps we could find another way to erase the debt in just one day then?

Suggestions?

Originally posted by In nothing we trust
Seems like printing more paper is dis-liked by most.

Perhaps we could find another way to erase the debt in just one day then?

Suggestions?

invade the middle-east for oil?









[edit on 29-11-2006 by st3ve_o]

i remember when clinton was in 'orifice', and the debt was huge at the time. they were estimating
each person would be paying about $10,000. from their own pockets to heal the debt. -- a few months later after adjusting spending, and allotments, there were nearly out of debt. and all it took was some reapportioning of funds to heal it quite well.
i bet with some decent adjusting, we could get that number down pretty quick. like stop this war machine...

Originally posted by st3ve_o

Originally posted by In nothing we trust
Suggestions?

invade the middle-east for oil?

We already did that, Mission accomplished

Besides that what else could we do?



[edit on 29-11-2006 by In nothing we trust]

Make sure your income is higher than your expenses... Very simple. Stop lending and spending unnecessary money, and start producing again. Spend less hundreds of millions on the military for one.

This has been already predicted by top-ranked economists since several years.

The economy is in control of the elite. They decide about the Economy-Taxes and In- or Deflation. So they are actually the ones who can always predict the development and make most profit out of it. (The Debt written on a paper on printing more dollars is irrelevant for them.. As they still make the profit.)

It's the people who will suffer, specially the poorest countries @ the edge of survival will have a really hard time because these dollar-changes will strongly affect them.

It will cost so many lives. So much about economical genocide.

But also regular people will suffer, thats clear. Most debts, bonds etc. also international ones are handled in "dollars". That's the main problem.

Does theres news have to do with china starting to sell their dollars?

What is being suggested in the "Money Masters" movie at the end is: If there would be a big, collective and controlled effort to pay back the national Bank with huge amounts of Dollars.. At some point they would need to bring back the Gold Standard to 100%.

At least that's more or less what I understood.

I'm no economy expert at all so it gets pretty hard to describe that stuff properly. As i said, this was predictable. Similar to the Wallstreet crash about 20 yrs ago? Many will lose alot of money. While those few wo know what is going to happen will make alot of profit.

Maybe some economically more educated member could actually elaborate/verify my information?

I've said it before. The only way to fix this mess now is to start all over. You have to set a permanent cap on the money and you also have to set a cap on how much 1 person can own other wise 1 person could theoretically own ALL the money in the world. The only reason 1 person doesn't own all the money in the world now is because they have created more, they had to because of this threat.