| John the OFM | 05 Oct 2021 7:55 p.m. PST |
link I can see the collectors looking for the D mint mark. Come on, are they serious? Is this even viable?
But then I see Bitcoin miners wanting to lease nuclear reactors to mine Bitcoins, and I think that I wasted my time taking Economics 101 back in 1970.
I hope its a very big coin, honoring Tom Brady, and Perry Miniatures for making Volunteers of Ireland.
And maybe it will have a chip playing Emmylou Harris's greatest hits. And Green Acres reruns. |
| Zephyr1 | 05 Oct 2021 8:53 p.m. PST |
Good luck trying to get one. You couldn't even get proof silver dollars from the US Mint this year, because the Mint sold them to the dealers a week before they were to go on sale to the public (what was left sold out in 20 minutes, proof gold coins sold out in 2 minutes.) So, a coin that went for $73 USD now goes for over $500. USD I'd expect that 1 Trillion dollar coin to go for 5 Trillion before all is said and done… ;-) |
79thPA  | 06 Oct 2021 1:48 a.m. PST |
So, making more money doesn't impact inflation? |
| robert piepenbrink | 06 Oct 2021 5:56 a.m. PST |
If we're being semi-serious, yes, so nearly as I can determine, it's legal: there is no limit on the money the Federal government can print or mint, and bills and coins held by the government count as assets, and so lower the debt. So it would avoid our hitting the legal limit on the national debt--until we spent another trillion, of course. And while, yes, increasing the money supply--which is more than just paper and metal--reduces the value of money, locking money in a Federal Reserve vault doesn't increase that supply. The problem is that it only pays off creditors if you DO spend it, and so increase the the money supply. Absent that, you still have to borrow more money, which is the thing a debt ceiling is supposed to keep within limits, or increase the money supply in other inflation-producing ways. At some point, the United States will have to reconcile very popular spending with no one much liking to be taxed, which is historically difficult for democracies. Commonly, it involves wiping out a currency and starting fresh, and the harder you work and save, the more you get burned at the transition. Good luck, and buy your toy soldiers early. |
| Martin Rapier | 06 Oct 2021 11:54 p.m. PST |
Increasing the money supply may increase inflation, it may stimulate economic activity. It depends. That is Economics 301. Or it may create a vast global asset bubble of inflated property, equity and bond prices utterly divorced from any sort of economic reality related to the production of goods and services. It will be fascinating to see where 13 years of Quantitative Easing takes us. |
| Wolfhag | 07 Oct 2021 7:09 a.m. PST |
Can I 3D print one of them? Wolfhag |
| John the OFM | 08 Oct 2021 3:33 p.m. PST |
Sure. Does your printer take platinum filament?
Set it very fine, so it'll come out pretty.
Be careful of some platinum salts, though.  |
| Wolfhag | 08 Oct 2021 3:53 p.m. PST |
No John. It's all clad coinage now. I'll print a plastic one and paint it platinum. It's basically the same as the rest of our coinage. Wolfhag |
 etotheipi  | 08 Oct 2021 4:12 p.m. PST |
The problem is that it only pays off creditors if you DO spend it, and so increase the the money supply. Actually, it only does this if your creditors will take it at face value. While we are not on the gold standard, if we just print more money without anything to back it, you just devalue the money you already have. Replacing a currency is not exclusive to democracies. Dictatorships are notorious for trying to print themselves out of debt with new money. While they can sustain it by force inside their country, eventually you need something from somewhere else. Again, a dictatorship can push that off by force (by which I mean push the costs off on to undesired populations) for a while. Another version of economic hot potato, just with the music ending when you die. |
| John the OFM | 08 Oct 2021 4:25 p.m. PST |
I don't know, Wolfhag. I'd print it in plastic, and then electrolytically coat it with real metallic platinum.
It's a ONE TRILLION DOLLAR COIN, for Heaven's sake. Show some class or standards! |
| Wolfhag | 08 Oct 2021 6:10 p.m. PST |
Show some class or standards! Why start now? Wolfhag |
| John the OFM | 09 Oct 2021 7:28 a.m. PST |
Cutting corners is how counterfeiters get caught.
I know store owners rarely see a trillion dollar coin, but with inflation, you never know. It's best to be prepared. |
| Zephyr1 | 09 Oct 2021 2:30 p.m. PST |
" While we are not on the gold standard, if we just print more money without anything to back it, you just devalue the money you already have." This is why people are buying up & hoarding toilet paper. It's the currency of the future. Much more desirable than gov't printed TP… ;-) |
| von Schwartz ver 2 | 09 Oct 2021 5:57 p.m. PST |
This bitcoin bull$hit is the biggest pyramid scheme ever. I suppose those investors are just trying to recoup the money that was mysteriously lost after they tried to help the Nigerian Colonel get his money out of the country before the coup. |
| John the OFM | 09 Oct 2021 9:27 p.m. PST |
Back in the days when Enron was The Thing….
Well, really after it collapsed.
Someone pointed out that beer would have been a better investment than Enron. You could at least get paid to recycle the aluminum cans, while Enron was totally worthless. |
| Wolfhag | 10 Oct 2021 5:31 a.m. PST |
If people are accepting what is basically a worthless piece of paper why not a piece of worthless plastic? My old 1924 Mercury head dime is actually worth more than a paper $100 USD dollar bill. Wolfhag |
is back from Council of Five Nations.
