Could $1 trillion coin solve debt crisis?

Sat Jan 05, 2013 4:59 am » by **WillEase666**

Sat Jan 05, 2013 6:29 am » by **Mydogma**

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...

Sat Jan 05, 2013 6:45 am » by **MickyMouse**

I may well be taking an over simplistic view of all of this stuff, but from an 'outsiders' point of view, we are kind of left scratching our heads when the US gov starts dishing out tax breaks and assistance to algea growers, nascar track builders etc when they could probably solve the whole rotten mess that has become the US economy by reducing defence spending for a short time...

Is it really harder than that? If the US is currently spending ~14.5bn dollars a week on the military, then surely getting back on track is not fiscal problem, it's a priority problem.

Sat Jan 05, 2013 7:22 am » by **Slith**

MickyMouse wrote:I may well be taking an over simplistic view of all of this stuff, but from an 'outsiders' point of view, we are kind of left scratching our heads when the US gov starts dishing out tax breaks and assistance to algea growers, nascar track builders etc when they could probably solve the whole rotten mess that has become the US economy by reducing defence spending for a short time...

Is it really harder than that? If the US is currently spending ~14.5bn dollars a week on the military, then surely getting back on track is not fiscal problem, it's a priority problem.

Well said

Sat Jan 05, 2013 8:58 am » by **Nihilgeist**

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.

Sat Jan 05, 2013 10:25 am » by **Cia212**

MickyMouse wrote:I may well be taking an over simplistic view of all of this stuff, but from an 'outsiders' point of view, we are kind of left scratching our heads when the US gov starts dishing out tax breaks and assistance to algea growers, nascar track builders etc when they could probably solve the whole rotten mess that has become the US economy by reducing defence spending for a short time...

Is it really harder than that? If the US is currently spending ~14.5bn dollars a week on the military, then surely getting back on track is not fiscal problem, it's a priority problem.

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. And then, you'd be cutting one of the few things government is supposed to do and actually does well...providing for national defense.

The problem, is simple. It's the welfare state. Government handouts are unsustainable. And we either make actual cuts to failed programs or drive ourselves into bankruptcy.

Sat Jan 05, 2013 11:06 am » by **Evildweeb**

.

Nice Will :flop:

A one trillion dollar coin will solve the exact same problem as a one dollar bill - they are both printed/minted by the same idgits.

My guess ---- no.

:cheers:

Sat Jan 05, 2013 11:23 am » by **I2haveseen**

Yeah. I'm reluctant to comment on forign pollicy (ozzi ozzi ozzi) too...... So, ill go slightly off topic....

SIPRI Yearbook 2012 – World's top 15 military spenders

http://en.wikipedia.org/wiki/List_of_co ... penditures
http://en.wikipedia.org/wiki/Stockholm_ ... _Institute

Pretty expensive job (keeping the peace)....... Wonder if they started by feeding/clothing/houseing these 'rouge' states, how diff the out come might be/have been????

Random (most places (prob)): How to beat inflation.... lol Buy bank shares :alien51:

Oh, cause i'm a bit under the weather..... I'll go here.....

IMO (& I challange any1 to to diffder), The 3 fucks (war starters) are : Rreligion, territorialism & materialism :top:

Sooner we get off world and make official 'first contact', sooner we can move out of the old ways..... The earth is not fucking flat!

------------------

Back off topic. Heard a nasty phase last night...... 'First contact, war'.......

Sat Jan 05, 2013 12:13 pm » by **Richc**

I think the US military has too many fingers in too many pies..

The UK once had quite a large Empire globally and one of the reasons we don't now is the amount of money you have to throw at it.

An empire can easily bankrupt a nation.

Im not even sure i agree with the notion that the US have to be the global policemen and piece keepers.
( but thats a topic of its own. )

And lets not forget Black Ops..
I wouldn't be suprised if most, or at least large amounts of money that just seems to go missing isn't going directly to these projects.

I would love to know what the US debt level would be right now if in the last 20 years the US military and Black op projects had been funded at pre Gulf War levels.?

Anybody have an idea on that one.?

RIK

Sat Jan 05, 2013 12:14 pm » by **Middleman**

Wouldn't this represent a direct challenge to the reserve banking system of a similar nature to that of Presidential Executive Order 11,110, by which John F Kennedy instructed the Treasury secretary to issue $4.2 billion in silver certificates as a form of currency in place of Federal Reserve Notes?

Or am I reading it wrong?