Could $1 trillion coin solve debt crisis?

Sat Jan 05, 2013 5:28 pm » by **Phaeton**

mykingdomforthetruth wrote:who wants a trillion dollar coin who would take it ? cant walk in mc donalds and pay for a big mac meal with it ? it's useless to anyone, Give china 1 i reckon they would refuse and ask for bills that are redeemable in goods and services because thats what this whole money system is about 1 trillion dollar coins is just dumb unless the the price of bread goes up to 1 billion dollars a loaf ...

wait a minute ... ??

The FED would take it. They are obliged to by law. Thats the whole point. They have the soul right to print money ['FEDeral Reserve Notes' or 'Dollars'], you know, those people who have been robbing each and every US citizen from 1913 to the present. But the US Treasury Dep. does have the right to issue coins through coinage act 31 USC 5112.

Any legal tender, no matter what denomination, HAS to be accepted by the creditor [FED] from the debtor [United States of America].

So the newly created and issued coins would be used not so much by the public, but by the state to buy back the treasury bonds traded for the money created out of thin air over the years by the FED and sold to the US government for those bonds. To which the public acts as collateral btw.

Now ofcourse if the US political leadership was not in kahoots with those of the FED the Federal Reserve Act from 1913 would be made null and void yesterday - its promoters trialled and jailed - and there would be no problem to begin with. But sadly, they are playing for thesame team.

So this solution, viable as it might be, will not be implemented until the unrelenting flow of [FED approved, or those behind the FED rather] criminals we vote into office stops.

Sat Jan 05, 2013 6:15 pm » by **The57ironman**

.

......this post....

no offense to the OP.... :cheers:

Sat Jan 05, 2013 7:10 pm » by **The57ironman**

.

............

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Sat Jan 05, 2013 8:20 pm » by **Phaeton**

Seriously? Remove my post because it hits too close to home?

Thats so f*ckin sad iron.

You need :help:

Sat Jan 05, 2013 8:28 pm » by **The57ironman**

Phaeton wrote:Seriously? Remove my post because it hits too close to home?

Thats so f*ckin sad iron.

You need

.

...you are an ass for taking your time to call someone out in the middle of a thread...

.......even if it's me....now gfys

Sat Jan 05, 2013 9:40 pm » by **Mydogma**

Nihilgeist wrote:
Mydogma wrote:And what's backing the 1 trillion dollar coin...same garbage..how about freeze all debt...then add a zero globally to all assets...yesTerday u made 20 hour...today 200 hour...it Would free up liquitity in a flash...

That wouldn't change anything. The ratio of money owed to money earned would be exactly the same, only now it's inflated. If you're making $200 an hour instead of $20, that means they're needing to make $200,000 instead of $20,000 a month to pay that $200 an hour, and so on and so forth. One man's debt is another man's income.

Right but if you froze debt, in essence you are forcing debtors to accept 10cents on the dollar, Since the bulk of debt is to a bogus cartel, they should be happy they are getting anything...any standard bond holders and legit personal debtors(not institutions) could claim a victoms bond from the government to make up the difference. bottom line is we have been insuring the debtors and screwing everyone else.

Sat Jan 05, 2013 10:06 pm » by **Noentry**

When something is broken like capitalism it can not be fixed with more currency or debt. It is the system that needs changing. Just like when communism failed.

Using more money to fix the problem of to much money being available within the system will only plaster over the cracks now forming. It is a pointless argument. This short term gain is only political and not a cure to this debt problem.

The point here is those who control the money have given themselves not just the lions share of it, they have invented vast suns of nonexistent money to control the system and in essence the world.

This has always been he plan from day one.

While the present system of money and power is in place we are all held in bondage and debt is the mechanism of this control.
The old systems of power and money are not progressive, they are designed to hold us back, to keep the very few in power.

Sat Jan 05, 2013 10:49 pm » by **Cia212**

Noentry wrote:When something is broken like capitalism it can not be fixed with more currency or debt. It is the system that needs changing. Just like when communism failed.

That isn't capitalism. It's our creep to socialism that has failed in the US, but we continue to run toward it.

Sat Jan 05, 2013 11:00 pm » by **MickyMouse**

Cia212 wrote:
MickyMouse wrote:Discretionary defense spending is barely significant, you can't fire or not feed the soldiers, and you can't refuse to pay existing contracts, the amount that offers any wiggle room is less than $200 billion

Not really no, it's difficult TODAY to cut spending, but year to year it's ALL discretionary depending on the nature of your gov. The US has a war hungry gov and society so that's where your budget priorities lie, a simple budget pie chart demonstrates this perfectly.

America hasn't gotten into their position overnight, it's been building up for years, and starting wars to prop up the economy has run it's course so now the US gov is both flat broke and generally hated by the rest of the world as a result. If their economy collapses which it just may well do and drags those of us living in pretty damn healthy economies that situation will only get worse

I personally think that with US defense spending at what can only be described as ridiculous levels, and intelligence spending higher than the rest of the world combined that if you guys can find a president and congress that is more interested in the people of the US than fighting losing wars in far away countries and sacrificing young men and women to protect the US dollar, then you will get back on track, until then they seem weirdly hell bent on driving you into the ground.

If they halved the spending, the economy could boom, the people could return to a prosperous state and the rest of us can stop shaking our heads at it all.

btw, if spending was halved, it would still be more than TWICE than China spends, think about it.

Sat Jan 05, 2013 11:01 pm » by **Noentry**

Cia212 wrote:
Noentry wrote:When something is broken like capitalism it can not be fixed with more currency or debt. It is the system that needs changing. Just like when communism failed.

That isn't capitalism. It's our creep to socialism that has failed in the US, but we continue to run toward it.

Creep?
Every society has socialist aspects. There is no such thing as pure capitalism, that is just a word in a book nothing else. Without a minimum socialist mandate countries would descend into chaos.
A centralised army is a socialist venture by its very nature.

What ever it is, it dont work and it is broken.
One can not be cured by getting more infected.