The Trillion Dollar Coins That Could Save America

Idiocracy!!...We will soon be at this stage

reply to post by HimWhoHathAnEar

people ain't working because so many of them are finding it more advantageous to not work, have kids, and be on welfare than to go work at jobs that pay far less than what those benefits they are getting from the gov't are worth!!!
at the present time, most of the seniors have spent most of their lives working, contributing to the system, or they were, according to what society deemed as appropriate at the time, at home home, tending to home and hearth, while their hubby worked!!! which, well, I think alot of the conservatives wish we still functioned on that premises, so they can't say nothing about those seniors who did it!!
heck, now, we got one lady at work going on 90 years old!! she's working!! And yet, I know of people a fraction of their age, in good health that are managing to ride through life, on gov't benefits!!!
so well, dont' gripe about how we don't have the workers to fill the gap, when we are paying the workers to sit home and do nothing more than keep our unemployment rate down!!!

reply to post by np6888

social security OWNS a good part of that debt.....
do your stats take that little bit of the equation into consideration???

reply to post by dawnstar


Well I definitely won't disagree that laziness is epidemic. Of course the cause is govt and the laziness is people taking the path of least resistance. Nothing new there.

The overarching dynamic I'm talking about is that first of all our country needs to produce more than it consumes. Not happening. Only then can we find out how many resources (including workers) are available to care for the retiring (or not) baby boomers. Because even if all the lazy SOB's were put to work at decent wages taking care of the elderly, it still wouldn't mean squat to the national bottom line because some productive business out there would have to be taxed to pay for them. It's like SS 'owning' that portion of the DEBT. Like, congratulations you're the proud new owner of a big chunk of DEBT. Oh and by the way you don't even get something nice to show for it. WTH, is that supposed to make people feel better? Of course at this point the problem is compounded by the fact that the productive business isn't there to pay for it.

To say that people are taking advantage of the system doesn't excuse the fact that the system is broken. Why is the manufacturing base gone? Why are the jobs shipped over seas? Why are there multiple wars and hundreds of military bases around the world? These are the questions that we need to have answered so we can become a producing nation again. And even then we'll need to have labor brought in to help. There simply aren't enough young people to provide for the older AND be a productive overall nation. I think that's why the Mexicans were coming in. They should have gotten them on the tax rolls when they could. Now I hear they're headed back home to pursue the american dream!

So, no I still don't think we have enough people to do what needs done on the productive side and the elder care side. Which is what would need to happen at the same time to be viable as a nation. We're just double screwed is all.

and, I don't think that many of those seniors are gonna live long enough to collect the social secuirty....

but hey, look at the bright side, the way they've been building new homes, all you younger people should have your choice some really nice real estate at cheap prices!! and the same goes for jobs!! plenty of jobs to go around...

my point was that the 14 trillion we are in debt for did not originate with the seniors, most the the money that the seniors are drawing out is coming from a separate tax, which is supposedly for just this purpose.....and what isn't coming via revenue, well, is owed it!!
our fine government has whizzed through their revenues, whizzed through the social security funds, and well, if they are whining that they would default if the limit isn't raised by tues, well, I guess they've done whizzed through the employees pensions because that's where they've been getting the funding to keep running this long!

the problem isn't social security or the seniors and soon to be seniors that want the checks....
the problem is these guys are acting like there's a money tree (and for decades there was, it was called the social security funds) in their backyard!! and when that tree died, well, they didn't stop the spending!! they ain't gonna stop the spending as long as they can find another money tree!!

what they probably should do is close up the social security, the hud vouchers, the food stamps, the whole bit and start a new social program that serves the need of the poor. ya know, I found out today that one of my coworkers voluteers for some program that provides help for the needy, he said that something like 30% of the gov't grant that they recieve can be used for the salaries of those running the show...
so, well, let's just guess that out of every dollar that is used in these programs, 30 cents is going for just the salaries....
we have how many different agencies running separate programs for the poor? that's a heck of alot of employees, alot of overhead!! so, well, seems to me at least that consolidating them all into one program would save some money!! probably alot of money!!

this situation seems critical. unless something is done the world could have a major economic breakdown or depression and it spells 'war'.

although im not an american i know that this will affect the whole world. america was a superpower for a reason, not just to sit there eat burgers and gloat about it. i have a feeling that we could be at war by the next 20 or 30 years.

Originally posted by TiberianPurifier
this situation seems critical. unless something is done the world could have a major economic breakdown or depression and it spells 'war'.

although im not an american i know that this will affect the whole world. america was a superpower for a reason, not just to sit there eat burgers and gloat about it. i have a feeling that we could be at war by the next 20 or 30 years.

I don't think it will take anywhere near that long.

5 years tops.

Originally posted by AGWskeptic

Originally posted by TiberianPurifier
this situation seems critical. unless something is done the world could have a major economic breakdown or depression and it spells 'war'.

although im not an american i know that this will affect the whole world. america was a superpower for a reason, not just to sit there eat burgers and gloat about it. i have a feeling that we could be at war by the next 20 or 30 years.

I don't think it will take anywhere near that long.

5 years tops.

actually i wanted to say something like this decade but felt that people wont agree. but ya war will be soon.

Well let's think about this: some guy says a coin is worth a trillion dollars and puts it in a vault. Some other guy then writes a check based on the value of what the other guy said the coin is worth. Sure, it sounds like it'll work

I was going to create a thread, but lo and behold! (I searched, instead)

With the current debt ceiling crisis, this is actually being thought about, again.

reply to post by beezzer


ya, it's just too painful for them to actually address the issues, so let's go back to coming up with the next great scam!!!

sooner or later it's gonna dawn on the masses just how the whole economy is just one giant scam!
especially if they keep discussion crazy ideals like this..
which would be legal, would work, but it definately opens one's eyes up to how things really work on the gov't level...

oh, we can't provide decent equipment to the troops we just sent to war, and no, we can't provide them with decent va healthcare when they get blown up. and no, we do anything to help the taxpayer out when they get sick and go into the hole trying to get medical care...
wait?? what??? the banks are going under??// oh no!!! quick, let's give the a trillion or so!! what, we don't have that kind of money??? shhh!!! they will never know....
oh, what?? they are griping because our debt has risen into the trillions, they want us to do what??? stop spending??? na, here just take this piece of plastic and mint it into two trillion dollars coins so we can pay off that debt!!!

oh, ya, and can i throw granny off the cliff yet???

This comment is sooo scary :

"Economist Paul Krugman called it a "gimmick," but wrote that "since the debt ceiling itself is crazy ... there's a pretty good case for using whatever gimmicks come to hand." "

www.foxnews.com...

wow...

(Ezekiel 7:18, 19) . . .on all faces there is shame and on all their heads there is baldness. 19 “‘Into the streets they will throw their very silver. . .

I saw this on the Colbert Report last night and I thought it was a joke. I admit, I had heard the whispers of this in the past but blew it off as the ravings of lunatics...guess not!

On one hand, I would not have a problem if our "Soveriegn Nation" took control of it's currency and began issuing coinage instead of Federal Reserve notes for currency. In ages past, all currency was coinage. We went to paper for "convenience" and "cheap production cost"...but we shot ourselves in the head when we turned the printing over to the Fed. I wouldn't be thrilled at having to carry a leather "coin bag" but I have big issue with the Fed...but that is another topic. Suffice to say, I DO believe a nation should be in control of it's currency and not relying on private, third party thieves.

The idea that we could just mint a trillion dollar coin, deposit it in the Fed and continue to spend like maniacs is mind boggling. Rather than addressing the problem, let's just figure out a scam to get around it. My pitiful brain can only skim the surface of the calamity such a move would cause on the economy of the country and the world...

Aren't the people dreaming up these ideas supposed to be well educated? Aren't the one's controlling our economy supposed to be the best and brightest minds? I am no economist, and I have not read all the posts in this thread or the others on the topic. All I know is when I heard this last night, I thought it was a joke...when I looked into it this morning and saw that there is actually some people considering this, I was stunned. At least there are some in Congress working to write legislation to prevent this...we can only hope common sense, rational thought and critical thinking are going to be put into play.

I have no problem with larger value coinage...I do have a problem with this "ploy" to keep on spending though.

reply to post by PhoenixOD


Yeah, that idea sure worked well for Zimbabwe and Germany after WWI.

Zimbabwe 100-Trillion Dollar Bill

I'm sorry but the idea is beyond retarded.

Why doesn't the president just invoke the 14th amendment?

I would think that is a much better option than minting a trillion dollar coin. There are laws concerning the limit on the value of paper monies and gold and silver, but not platinum. That's the reason they're thinking of using platinum. Because it's the legal option, albeit an absurd one.

Why would this be considered rather than invoking the 14th?


Posted Via ATS Mobile: m.abovetopsecret.com

The bank of England has some one million pound notes, not sure what they do with them, something to do with inter departmental accounting? anyway those notes don't seem to help the trillion and a half debt the UK government has. Or is it the balance of trade debt?

reply to post by dawnstar


A lot of people aren't "workin" because even fast food jobs (the quintessential "second job" / teenage job) require "open availability." It's a little hard to retrain for a second or third career when your McJob requires you keep your schedule wide-open for their split shifts.