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 Replies: 12 / Views: 1,514 |
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Bedrock of the Community
United States
10635 Posts |
Hi everyone... I heard on the news tonight that in light of the government's budget conflict going on right now, it is illegal for the U.S. to just print up more paper money to cover their needs because there is a set limit, BUT there is no limit to the amount of coins they can mint and release! So maybe we'll suddenly see a ton more dollar coins now? With this in mind, wouldn't it be funny to see the U.S. pay off the national debt to China in pennies? (Having BadTad pull out all the copper first, lol)  Les |
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Pillar of the Community
United States
927 Posts |
Hey, great idea! The government can stop printing $1 bills and mint 1 billion more dollar coins to help pay the national debt.
Oh, I forgot. The debt is 14 trillion. I guess we can't mint enough coins to cover that! But someone might suggest it anyway.
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Pillar of the Community
United States
526 Posts |
They already have that main $1.00 coins in a new storage facility they just built to hold all the currency nobody wants to use. Use all of that to pay off
some of the debt......
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Valued Member
United States
404 Posts |
How long until we start seeing $100 coins?
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Pillar of the Community
 United States
5953 Posts |
Quote:
How long until we start seeing $100 coins? been around already for several years  |
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Valued Member
United States
404 Posts |
Meant $100 coins for circulation.
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Pillar of the Community
United States
1064 Posts |
Maybe I'm missing something, but I don't get where the printing of more paper or minting of more coins would affect the money supply - it's not like they dump it out in the street in front of the bank, or drop it from the sky. Unless they give stacks to the employees to go out and spend as they want, how could it impact what's out there if someone isn't earning it, and getting it in their paycheck? Don't banks order it as needed?
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Pillar of the Community
United States
5854 Posts |
The money supply could be affected if money that is "printed" is used by the Fed to purchase U.S treasuries.
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Pillar of the Community
United States
1064 Posts |
Quote:
The money supply could be affected if money that is "printed" is used by the Fed to purchase U.S treasuries Ah, I know there's always something I'm missing. Would they use actual paper to make a purchase like that? |
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Pillar of the Community
United States
5854 Posts |
I am not completely sure but I think they do that electronically. So it would be like printing money electronically.
Edited by D0ubl3Eagle
07/31/2011 5:58 pm
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Bedrock of the Community
United States
20753 Posts |
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Oh, I forgot. The debt is 14 trillion. I guess we can't mint enough coins to cover that! But someone might suggest it anyway. I really don't see a problem. Just have China start making MORE of our coins and pay themselves.  Quote:
The money supply could be affected if money that is "printed" is used by the Fed to purchase U.S treasuries. But if printed on Rice Paper in China, they could pay themselves off and we would owe nothing.  |
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New Member
India
1 Posts |
well these coins need to be good
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Bedrock of the Community
Australia
21786 Posts |
nohope587: Reminds me of O. Roty's "The Sower" on French coins.
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Replies: 12 / Views: 1,514 |
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Posted 07/31/2011 09:07 am
