Should the US Mint a Trillion-Dollar Coin?

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Title	:	Should the US Mint a Trillion-Dollar Coin?
Lasting	:	6.07
Date of publication	:
Views	:	7,4 rb

I have yet to hear any rational argument as to why minting the $1T coin wouldn’t work Fed chair Jerome Powell is opposed to it, but that’s because it could render the Fed useless, and I’m all for that, because the Fed was conceived and implemented in 1913 by JP Morgan et al in order to enrich the already mega-wealthy class (read “The Creature from Jekyll Island”) The Fed is neither Federal nor a Reserve (except for mostly T-bills used by the US Treasury to obtain dollars for Federal payments it doesn’t have enough money for)brbr1 About 97 or 98 of all money in circulation exists as digital bits inside banking computers This means that monetary value isn’t based on anything traditionally considered valuable like gold or silver We haven’t been on the gold standard since the Nixon adminbrbr2 1 above means that money is just a number, and numbers are abstractionsbrbr3 The US should mint 31 trillion dollar coins and pay off the US debt The Fed is opposed to this because it would reduce their power, but it would remove the red ink from America’s check balance sheet Since money is just an abstraction anyway, the 31 T coins would just sit in the Fed’s vault and would not be put in circulation, yet the national debt would be removedbrbrWould someone please provide a rational argument as to what is wrong with doing this?
Comment from : @danbeckham7895

I have a $100 trillion dollar bill from Zimbabwe as a joke Cost me 3 dollars How's their economy doing?
Comment from : @jasonwebster8027

Just ignore the debt limit, it's unconstitutional
Comment from : @jgyuri

Lots of complaining here, I think I found a republican safe spacebrbrFirst off, the whole world is experiencing inflation just about right now we're actually one of the lower cases brbrSecond trump added 83 trillion or raised the debt by 40 without republicans talking about the debtbrbrYou guys aren't serious
Comment from : @tengoken4313

IT will work the law from when the country was Founded in the constitution they can if it's a commorative coin
Comment from : @hitzer2000

why would they mint a coin when the treasury has 8100 tonnes of gold valued at 32 dollars on balance sheet ? Revalue the gold to 5000 - 10000 dollars - you could wipe the debt out if you value it high enough - maybe because they don not have it ??!!!! F king clown show !
Comment from : @luap2551

That guy is very talented about bsing
Comment from : @moguzd

Jeez same content from 8 years ago
Comment from : @Lifecounselor710

This is simple The US treasury brings in 5 trillion in taxes The government spent 65 trillion, cut 2 trillion from the budget and lets go! If you don’t make enough month to month to pay your bills, what do you do? CUT BACK! All you have to do is cut EVERY program by 23! Some probably more than others!
Comment from : @dmkfactor1721

It's simple: Stop spending money
Comment from : @boldsign

Dude been fighting for this coin for so Long LOL
Comment from : @Letsgo44444

This reminds me the one spoiled kid in kindergarten that can't lose
Comment from : @wilfriedvomacka1783

A lot of comments inappropriately extending household money management analogies to the monetary policy of the largest economic engine on the planet They do not work the same, and there are several reasons why the Weimar Republic situation was fundamentally different
Comment from : @hovant6666

How about addressing the real issue which is the way money is created as debt rather than play make believe FIAT money is the biggest scam in human history an the crash is coming soon Have some hard assets people
Comment from : @emiloprisa

Default on our debt, ditch the US dollar, mint gold and silver coins and back them by other goods and commodities I would also developed a way to use blockchain technology and fix the supply of coins to a fixed amount of blockchain tokens A 1:1 ratio
Comment from : @keeganbrown9967

A Biden Coin… “The Dopest President Ever”
Comment from : @piratexlife

Only 31 TRILLION
Comment from : @luckythirteen6771

unbelievable, ludicrous, completely surreal that some people on TV are even debating this!!!!!!! I am Canadian, and I am shocked at what the US financial community has become, just a laughing stock The US can print green paper to infinity, as long as they are the world's reserve currency, but that privilege is not infinite, and soon the rest of the world will wake up and realise that all the Fed is doing is monetizing debt and printing coloured paper with numbers on it, and that day the US will go back to the stone age The only thing that can save you, now, is Bitcoin You would be smart to embrace it massively today, it is the only thing that can save the US now, at already 31 trillion dollars debt, this number will go only up, there is no good ending for this story
Comment from : @vinz300000

Rather than try to figure out ways to grow efficiently, we are minting some trillion dollar coin to be able to keep spending? What's the problem with this situation
Comment from : @SpencerHsu

Why mint only 1 trillion dollar coin? How about mint 40 trillion dollar coin and deposit to Fed, that would pay off all debts the government has
Comment from : @procheio-broadcasttonearb40

\_ ОСРЕБРЯВАЙ _/br \_______________/
Comment from : @diamandidimitrov8643

\_ ЛЕСНО СЕ ВЗЕМАТ ПАРИ БЕЗ _/br \_ ВАКСИНИ ПРОТИВ МАЛАРИЯ _/br \_ НЕ СУШАТ КАГАТО ИМ СЕ _/br \_ КАЗВА КОЙ ВРЪЩА _/br \_____________________________/
Comment from : @diamandidimitrov8643

Cancel all the debt and start again Everything that has been built with easy credit will still be there and we can just build off of that Start repairing and building all the infrastructure that the US needs desperately first, while the money is cheap
Comment from : @lostgleammedia

The money tree, will someday collapse
Comment from : @klubcj

Here is a wild ideas to solve the issue, cut spending
Comment from : @Nuganics

🇺🇸✝️🤣🇺🇸✝️🤣🇺🇸✝️🤣🇺🇸🤣🤣🇺🇸🤣brWe aren't questioning the debt We are questioning whither we are going to pay it or not
Comment from : @respectamerica2382

US treasuries are like any other IOUs On the other side are corporations, pension funds, other countries etc If/when the US defaults, someone will be hurt This debate is no different to say, an argument over whether you could just repay bank with monopoly money, or add a couple of extra zeros to the end of a 100 dollar note and make it "worth more" Ludicrous
Comment from : @mrpoopoo888

But we have more billionaires than ever, and we tax the middle class at a much greater rate than millions or Billionaires
Comment from : @alcozar5905

How is this even a debate?
Comment from : @MonchoDeLaMota

i have an idea we have a strong job market CUT government spending and beneficiaries leeching off the system go find a job how is this not the most obvious solution???
Comment from : @bongsai

Just make Bitcoin standard and get rid of these scams
Comment from : @rajib4050

🤦‍♂️
Comment from : @edwarddiaz1130

The question is why would the coin be worth 1 trillion dollars? Are people saying the Fed should pay a make believe price for a platinum coin? If so they are debasing the assets of the central bank which in the long term has terrible inplications The Fed is still thought of as a bank - their assets back up their liabilities Once that goes out the window the Fed is creating money out of thin air that is not even backed by government IOUs
Comment from : @slovokia

or you can use Bitcoin
Comment from : @all4bitcoin

Frauds
Comment from : @elel9789

"trying to kick the can down the road and see the end of it is near"
Comment from : @xeyco4434

Why limit the size of government and rein in spending when you can just create monopoly money and tax your citizenry through inflation?
Comment from : @bytemuncher1