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 Replies: 46 / Views: 6,654 |
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Valued Member
United States
128 Posts |
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Pillar of the Community
United Kingdom
4208 Posts |
Trillion Dollar coin? That all you got?  |
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Pillar of the Community
United Kingdom
1682 Posts |
"the president could ask the Treasury to begin printing trillion dollar coins" - I did not know that coins were printed.....all these years, I thought banknotes were printed and coins were minted.
I have one of those 100 trillion dollar notes as well.
Ken
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Pillar of the Community
Thailand
1509 Posts |
As Ken pointed out, coins are minted, notes are printed. As a journalist he/she should have known that and the editor should have picked up the error!
What is the world coming to?
And yes I have one of those 'novelty' notes too.
Sorry, I forgot to answer the original post. The question of a trillion dollar coin or note is spurious. If it ever happened, believe me, the whole world would be in the deep doo-doo.
Edited by thai-vic
01/04/2013 3:14 pm
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Bedrock of the Community
Australia
21786 Posts |
Trillion dollar coin? why not? I would be tempted to buy one for a dollar, just like the banknote!
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Bedrock of the Community
13014 Posts |
I have the banknote too and the 50 trillion dollar one. Its fun to say youre a trillionaire. If we started minted trillion dollar coins that would in fact be the begging of the end for our currency. You just simply cant increase the money supply like that to bypass congressional oversight and not have real bad consequences economically.
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Pillar of the Community
United States
613 Posts |
It won't be long before someone commissions a trillion dollar novelty coin. Sounds like good fun.
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Moderator
 United States
187702 Posts |
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New Member
United States
49 Posts |
When I first heard of this "trillion dollar coin" idea it never occured to me that any coin could even have an intrinsic value of a trillion dollars. When I found this question from Boomer, my first thought was:
"just how big of a chunk of platinum would it have to be in order for the intrinsic value to be a trillion dollars?"
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Valued Member
United States
80 Posts |
By my math at Friday's spot price of $1.559.00 the coin would weigh 43,994,720 pounds or 21,997 tons!
According to one website, the global output of Platinum is 3.6 million ounces or 246,943 pounds per year. So a platinum coin with a trillion dollar intrinsic value would roughly equal all the platinum mined in the world for 178 years.
Going the extra step, to make a platinum coin with an intrinsic value worth $16 trillion you would need 2,850 years worth of platinum. But realistically there is not that enough in the world to equal our debt. Crazy.
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New Member
United States
49 Posts |
I found a spot price of 1560$ so the exact numbers I got were different than your but the Crazyness you mentioned was effectively the same  I tried going the extra step of finding out the rough dimensions of a coin that size, I hope my math was right ... if it was, the coin would have to be somewhere near a foot thick with a 32 foot diameter  |
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Bedrock of the Community
13014 Posts |
Take the coin to vegas and bet black, go double or nothing.
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Bedrock of the Community
United States
17884 Posts |
Quote:
When I first heard of this "trillion dollar coin" idea it never occured to me that any coin could even have an intrinsic value of a trillion dollars. True it would be huge, but who said the trillion dollar coin would have any intrinsic value? |
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Pillar of the Community
United States
3755 Posts |
This is not so much of a joke as we would hope it is. This is actually gaining traction with the morons in D.C. It does not matter the size of the coin. Because of the wording of the law governing this, a coin can be assigned any value. It matters not what the actual value of the metal of the coin is. It's a gaping loophole that these idiots may indeed use. Mint a few trillion dollar coins, deposit them in the fed and POOF, we have money. The people talking about doing this are SERIOUS folks. This is now what we have in our government from top to bottom. Spenders who will take advantage of anything they can to continue spending regardless of what it will do to the economy.
I have those trillion dollar notes as well. I also have the hyper inflation notes from Hungary after the war. Some from Germany as well. Keep in mind why these notes exist. The governments that printed them were either in complete collapse from war, or complete collapse from idiots in charge running the country into the ground. Guess what? We have BOTH going on now. Those notes are not a novelty, and we are not so far from being in the same boat.
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Pillar of the Community
United States
3755 Posts |
Sorry, I mis typed. I do not have the Germany notes, I have the Yugoslavia notes from the early 90's. But first, here are most of the Zimbabwe series...   And Yugoslavia...   These were valid circulation notes. Think about that for minute. Then consider they want to eliminate the debt ceiling. Then picture those notes with George, Abe, Alexander, Andrew, Mr. Grant and Franklin on them. This trillion dollar coin thing is pointing us right at that future. |
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Forum Mom
United States
5877 Posts |
I have moved all of the political replies to General Discussion. Please keep your replies related to numismatics.
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Replies: 46 / Views: 6,654 |
Posted 01/04/2013 1:06 pm
