In order to deal with the deficit, a remote possibility would be that the US mint a trillion dollar coin to...pay itself so it won't go over the debt ceiling (which it already reached). http://www.nytimes.com/2013/01/10/b...llar-coin-brings-a-jackpot-of-jests.html?_r=0 The USA is a fucking joke. The economy is smoke and mirrors.
The concept of the trillion-dollar bill is a joke, which has made it to the White house press secretary. The news media is a joke.
Treasury can mint it, but the Fed has to accept it for deposit. Such a move would challenge the Fed's role as the group that sets the monetary policy for the United States. It's likely they would refuse the deposit so the trillion dollars would never be able to be drawn upon.
Quantitative easing is a real tactic used by real people recently. Minting a trillion dollar coin and depositing in your own bank is a joke thought up my economics bloggers and could never happen
Money isn't "real" anyway, it's "value" is set arbitrarily, and anything is possible if you have an imagination.
Has it? Because it is sometimes used? Wikipedia classifies it as "unconventional." So, it seems like it's kind of controversial. But I honestly don't know because my artschool academic retardo hipster liberal brain dismisses economics as math voodoo for conspergatives. No green font.
I already told you guys about the coin a year ago. Search my posts for coin. I can't search by screen name. Maybe it works for you.
They have a slot machine in the high roller room at the MGM Grand in Vegas that accepts $Trillion coins. I say go for it and pray for cherries. The worst that can happen is a bailout where we mint another coin.
Since there would be only 2 coins, and they'd be in "mint" condition, and being more than 1 would make them a mint set, their actual value on the coin collecting market would be astronomical should the US ever choose to make them available to the public.
Why not mint 17 $1t coins? Debt is completely wiped out! Sad thing is half the electorate would believe it is possible to just mint the debt away.
How about a 1000 $1T coins, and just buy the world? Of course, what if another country minted 2000 of those coins and bought everything the US just purchased with their 1000 $1T coins. Hmm ... guess we could just mint another 1000, but what if the other country then minted 1000 more than our 1000?
