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Joined: Mar 2009
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I think the trillion dollar coin's a fine idea.
Let's stamp the number 1,000,000,000,000 (and then the word 'dollars' following the big number) on a one ounce platinum coin; the same coin which currently can be traded for 1,892 federal reserve 'dollars'.
After all, we know that the validity of the public debt of the United States, shall not be questioned. So, here's a great plan:
Let's take a lie, close our eyes and sell it to the federal reserve who will trade us 1,000,000,000,000 of their lies for it, take those 1,000,000,000,000 lies down the hall to the Treasury Department, so's they can write some checks against it. If they need some more assets, we'll just stamp another lie (ahem) coin. Heck, it'll work. You just gotta give it a chance.
We'll just say that it's value has been augmented to its newly assigned trading level by our lie (ahem) decree.
Hey, I wonder if a current owner of one of the earlier platinum coins could bring it into the federal reserve and trade it in for 1,000,000,000,000 current federal reserve dollars? Same weight and composition. That would be fair wouldn't it?
So a platinum coin with $100 stamped on it that you would have to trade $1892 for would be the same as a platinum coin with $1,000,000,000,000 on it.
So, let's see now: 100 = 1,892 = 1,000,000,000,000 = whatever, don't sweat the small stuff. It'll work!
Wait, I'm confused now, tell me again, what is the coin worth?
I'm feeling drowsy, I need to rest, I'll go back to sleep now.
Yawn, .......
Yes, I think that's a fine idea.
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tekshop
01-09-2013 @ 1:09 AM