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jeff47

(26,549 posts)

37. Sure

Reply to shawn703 (Reply #15)

Mon Jan 7, 2013, 05:14 PM

Jan 2013

Would depositing it at the Fed in essence knock down the national debt a trillion dollars somehow?

Theoretically, it could. What it would probably be used for is to finance future spending.

If it wouldn't hurt the economy any, why not mint a $16.4 trillion dollar coin and deposit it at the Fed?

Because adding that much money would probably cause hyperinflation. $1 Trillion isn't likely to be a problem, since we could use some inflation right now to get out of the zero lower bound. But the entire debt would probably cause too much inflation.

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Highlight:

GOP Rep. To Introduce Bill To Stop Treasury From Creating Trillion Dollar Coins [View all] DonViejo Jan 2013 OP

Better fire up the mint pretty quick then. TwilightGardener Jan 2013 #1

Bill To Stop Treasury From Creating Trillion Dollar Coins Flashmann Jan 2013 #2

Yes, this is going nowhere... Swede Atlanta Jan 2013 #9

Why wait that long? Why not sunset? RC Jan 2013 #38

Unless he attaches it to some other bill that would be very difficult NYC Liberal Jan 2013 #14

yeah, not so much pasto76 Jan 2013 #46

Yeah but he made headlines Gman Jan 2013 #17

So the idea is to pass law abrogating any clause of the Constitution you might not like. indepat Jan 2013 #27

Alice Cooper was on the billion dollar bill ... meegbear Jan 2013 #3

As an Oregonian, I'd like to say, that I do not claim this man. the_chinuk Jan 2013 #4

If you can do that, kentauros Jan 2013 #42

The GOP = the KKK. n/t BumRushDaShow Jan 2013 #5

Next up: the $999,999,999,999 coin... brooklynite Jan 2013 #6

lol grantcart Jan 2013 #8

Would that be a version of an Allen West coin? SoapBox Jan 2013 #19

How about a bill to keep Republicans from waging unpaid for wars and Medicare Drug benefits. marble falls Jan 2013 #7

GOP Rep. To Introduce Bill To Stop Treasury From Creating Trillion Dollar Coins The CCC Jan 2013 #10

Wow. They're scared? Amusing N/t broadcaster75201 Jan 2013 #11

That's just what I was thinking lol... Volaris Jan 2013 #26

And I thought Krugman was kidding. eggplant Jan 2013 #12

I always amazes me when: ... 1StrongBlackMan Jan 2013 #13

Guys like that actually think that banks only lend against the assets of depositors. Ikonoklast Jan 2013 #22

Yep ... 1StrongBlackMan Jan 2013 #24

Funny you posted that, one of the classes required for graduation by my high school Ikonoklast Jan 2013 #25

Sadly ... 1StrongBlackMan Jan 2013 #33

I'd settle for most citizens even knowing that nuch! Ikonoklast Jan 2013 #35

Can someone explain how this "trillion dollar coin" idea would work? shawn703 Jan 2013 #15

This might help... Sekhmets Daughter Jan 2013 #30

Sure jeff47 Jan 2013 #37

let me guess: those in favor want us to return to the gold standard CreekDog Jan 2013 #16

Best laugh I've had all day. This level of dumb is off the charts. TygrBright Jan 2013 #18

There is a Republican from OR, I thought they were extinct reverend_tim Jan 2013 #20

lol do you think they would get the irony inherent to that statement? Volaris Jan 2013 #28

it would be fun to find out reverend_tim Jan 2013 #31

Never time to do real work, but always time to introduce bullshit bills Ezlivin Jan 2013 #21

I lost a quarter a few weeks ago november3rd Jan 2013 #23

No worries. You'll never lose it, because you'll never be able to pick it up to begin with. Ikonoklast Jan 2013 #32

What programs does Rep. Walden propose to cut in order to balance the budget? n/t bluedigger Jan 2013 #29

But aren't they going to put Raygun's face on the coin?? thelordofhell Jan 2013 #34

Milton Friedman IDemo Jan 2013 #40

And the Senate will ignore this. Panasonic Jan 2013 #36

Maybe I'm not seeing something but... discntnt_irny_srcsm Jan 2013 #39

Does he realize bucolic_frolic Jan 2013 #41

Ahhh, but the Gazillion Dollar Bill... tomm2thumbs Jan 2013 #43

has anyone mentioned ... ? padruig Jan 2013 #44

And I thought bills ending bans on dwarf tossing and fetus eating were dumb Rozlee Jan 2013 #45

Another Fox News conspiracy davidpdx Jan 2013 #47

Wouldn't Obama have to approve the bill befor it became law? Kablooie Jan 2013 #48