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 Replies: 46 / Views: 6,678 |
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Rest in Peace
 United States
1380 Posts |
My question is, are they going to include it in the proof set?
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Moderator
 United States
189603 Posts |
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My question is, are they going to include it in the proof set?  |
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Bedrock of the Community
13014 Posts |
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My question is, are they going to include it in the proof set? No itll be in mint sets only as an uncirculated by 2016, the mint will have gotten rid of proofs as they will cost an extra 500 billion a coin to strike. Dansco is holding the new 7070 till 2017 as they are unsure whether or not the extra holes theyve added through a 10 trillion dollar coin will be sufficient  |
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Valued Member
United States
80 Posts |
@smoker Well they sure are proud of that rock formation, it's on all their currency.
As for including it in the proof set, imagine what the mint's sale price would be, $2trillion? Hey, maybe that's a way to pay down the debt!
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Pillar of the Community
Canada
1005 Posts |
"ooh, a trillion dollar bill! That's a spicy meatball."
-Homer Simpson
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Pillar of the Community
United States
3755 Posts |
OK, someone in the Treasury Dept showed some common sense, and the plan has officially been shot down.
*big sigh*
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Valued Member
United States
155 Posts |
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Pillar of the Community
Canada
867 Posts |
THE US Government is the worlds largest debtor,so inflation is inevitable because anyone with debt owing, would rather repay it in devalued dollars. Hyper inflation would be a disaster for everyone though.
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Bedrock of the Community
United States
36845 Posts |
Making a Trillion Dollar coin would take an act of Congress. Guess they figured that would be a hard one to get passed. They floated the trial balloon and looks like it popped. Politicians will try anything no matter what country they are from.
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Valued Member
United States
360 Posts |
Fun to think about, yes, but the outcome surely wouldn't be what the U.S. has in mind...
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Valued Member
United States
335 Posts |
The only people able to use such "trillion $ coins" would be national governments, if these became common currency - the beginning of the end. - another Depression would be upon us
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Pillar of the Community
United States
593 Posts |
A trillion dollar coin would have zero effect on the debt, deficit, money supply, or economy. It is simply an accounting trick whereby the Treasury gives a trillion dollar IOU to the Fed and the Fed sells their T-bills instead of Treasury issuing additional T-bills. It's really quite brilliant, but a bad idea nonetheless. See this thread: https://goccf.com/t/138971&whichpage=1 |
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Pillar of the Community
United States
3755 Posts |
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Making a Trillion Dollar coin would take an act of Congress. Negatory there. It would not require any such thing. The act already in place allowing for the mintage of platinum coins says they can be assigned any value the treasury sees fit That is why this whole thing popped up in the first place. It can be done this very instant should they choose to do so. It is far from a brilliant idea. And it most certainly would have an effect because the instant we start doing junk like that, our creditors (read China) would have convulsions, nd rightfully so. And considering that most everything in the financial world is based on perception, something like this most certainly would effect everything. |
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Bedrock of the Community
13014 Posts |
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everything in the financial world is based on perception, something like this most certainly would effect everything. Exactly. Real money increase of not you cant do drastic things and expect nothing to happen from it |
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Pillar of the Community
United States
593 Posts |
I said it was brilliant, but a bad idea anyway. What would happen would be enormous political fallout over the perceived trickery employed to usurp Congressional power by the Executive Branch. Financially I doubt China really cares if T-bills are issued by Treasury or sold by the Fed to pay the interest we owe them. It's moot now anyway. They wisely decided to reject that scheme.
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Replies: 46 / Views: 6,678 |
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Posted 01/10/2013 5:32 pm
