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Treasury to simply mint a $1 trillion platinum coin!!!! It is legal and it's possible.

 
Machine42
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01/11/2013 10:35 AM

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Treasury to simply mint a $1 trillion platinum coin!!!! It is legal and it's possible.
As President Obama and Congress barrel toward the next fiscal fight - how to deal with the $16.4 trillion debt ceiling the country is expected to hit next month - one solution that has generated an extreme amount of buzz is for the Treasury to simply mint a $1 trillion platinum coin. The idea is kind of like Justin Bieber: It has wildly vocal fans despite its flaws but it also has equally as vocal detractors who think the whole idea is completely absurd.

Here are five things to know about the $1 trillion coin idea:

1) It is legal and it's possible
....2,3,4,5

[link to www.cbsnews.com]


More..

[link to www.wired.com]

Last Edited by Machine42 on 01/11/2013 10:36 AM
Machine42 (OP)

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01/11/2013 10:42 AM

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Re: Treasury to simply mint a $1 trillion platinum coin!!!! It is legal and it's possible.
This is what the coin may look like....

[link to fitsnews.com]

odance
Anonymous Cowherder
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01/11/2013 11:23 AM

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Re: Treasury to simply mint a $1 trillion platinum coin!!!! It is legal and it's possible.
I did the math the other day. at $1600 per ounce, it would take a platinum coin weighing approximately 19,500 TONS to be worth $1trillion.

$1T=625,000,000 ounces
625,000,000 oz = 39,062,500 lbs
39,062,500 lbs = 19,531.25 tons

Last Edited by Anonymous Cowherder on 01/11/2013 11:28 AM
I'm a Libertarian Constitutionalist.

I don't give a shit what you do with your own life, whether you make it a success or a failure, that is the outcome of the choices you make, but please take responsibility for yourself and don't make ME pay for YOUR choices and we're all good.

Repeal the 17th Amendment and the Apportionment Act of 1911!

Thread: First steps down the road to a return to the Constitutional Republic that we were intended to be.

Restore the Republic.

It's a flower, not something to be feared.

cow - Moo!
Anonymous Coward
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01/11/2013 11:24 AM
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Re: Treasury to simply mint a $1 trillion platinum coin!!!! It is legal and it's possible.
These crooks can do whatever they want. Right now they have control over most things. As of now that is.
G3
G3

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01/11/2013 11:29 AM

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Re: Treasury to simply mint a $1 trillion platinum coin!!!! It is legal and it's possible.
This is what the coin may look like....

[link to fitsnews.com]

odance
 Quoting: Machine42


OBAMACOIN

lmao
Jknoph

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01/11/2013 11:43 AM

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Re: Treasury to simply mint a $1 trillion platinum coin!!!! It is legal and it's possible.
I did the math the other day. at $1600 per ounce, it would take a platinum coin weighing approximately 19,500 TONS to be worth $1trillion.

$1T=625,000,000 ounces
625,000,000 oz = 39,062,500 lbs
39,062,500 lbs = 19,531.25 tons
 Quoting: Anonymous Cowherder


1:8:5 "To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;"

Congress can value it at whatever they want. They could pass a law to coin dogshit and say its worth a trillion dollars.

Of course the US would lose what little credibility it has left at that point. Same with minting a trillion dollar platinum coin.

[link to www.slate.com]

Last Edited by Jknoph on 01/11/2013 11:45 AM
Anonymous Coward
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01/11/2013 05:58 PM
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Re: Treasury to simply mint a $1 trillion platinum coin!!!! It is legal and it's possible.
lol


welcome to zimbabwe

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