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(CNN)   It's that magical time of the year where Congress debates raising the debt ceiling, which can only mean one thing: Some idiot is going to bring that "trillion dollar coin" idea up again. So, here you go   (cnn.com) divider line
    More: Stupid, Timothy Geithner, Currency, Barack Obama, Numismatics, Money, Bill Clinton, United States Department of the Treasury, President of the United States  
•       •       •

1550 clicks; posted to Main » and Politics » on 24 Sep 2021 at 4:50 PM (10 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2021-09-24 3:16:17 PM  
Suing to have the debt ceiling ruled unconstitutional would be much more productive.
 
2021-09-24 3:43:40 PM  
A $1 trillion coin is a terrible idea.  You know somebody would just drop it and it would roll under something and we'd never see it again.

The obvious solution to our debt problem is clearly Amazon gift cards.
 
2021-09-24 4:02:49 PM  

Miss_Dorothy_Kilgallen: The obvious solution to our debt problem is clearly Amazon gift cards.


The IRS called me just yesterday, in fact, and said that I had a fairly significant outstanding tax bill that could be settled with no trouble if I just bought some gift cards and mailed them to this PO Box they operate for taxpayer services in Chicago. Just got them sent this afternoon, so I'm doing my part.
 
2021-09-24 4:38:07 PM  
The only problem with the budget is that rebuttlickans are always so greedy, fascist and hatefully unwilling to reach a compromise. Any compromise. The only power they have left is fear and hatred. That's the poison element in our society that gives birth to mutant ideas like a $1 trillion coin.
 
2021-09-24 4:52:09 PM  
Why not $20 trillion? Go big and go home.
 
2021-09-24 4:54:09 PM  

Pocket Ninja: Miss_Dorothy_Kilgallen: The obvious solution to our debt problem is clearly Amazon gift cards.

The IRS called me just yesterday, in fact, and said that I had a fairly significant outstanding tax bill that could be settled with no trouble if I just bought some gift cards and mailed them to this PO Box they operate for taxpayer services in Chicago. Just got them sent this afternoon, so I'm doing my part.


The people at the extended auto warranty place are REAL mad that I've been ignoring their calls. They sent The Government to arrest me. This is my 87th day on the run.
 
2021-09-24 4:55:12 PM  
Abolish the debt ceiling. It's proven completely useless at controlling our budget. The only thing it actually does well is allow assholes to hold the international economy hostage.
 
2021-09-24 4:56:20 PM  
I realize that we really owe ourselves much of that money. But as someone who finally went completely debt free a few years ago, I think that would be a good idea for the country, too. I mean, I have a huge credit line available if I ever need it, but I also have money in the bank. I feel better with people owing me money vs. the other way around.
 
2021-09-24 4:56:37 PM  
It's that magical time of year where?

Surely you mean when, subby. Times are whens, places are wheres. Welcome to English!

/ducks and runs
 
2021-09-24 4:57:30 PM  

Serious Black: Abolish the debt ceiling. It's proven completely useless at controlling our budget. The only thing it actually does well is allow assholes to hold the international economy hostage.


DEBT FOR THE DEBT GOD!
 
2021-09-24 4:58:22 PM  
Once again, Simpsons did it:

Fark user imageView Full Size
 
2021-09-24 5:01:27 PM  
Or, and I know this is a crazy thought, we could abolish the debt limit. It's a recent invention meant to force exactly these kind of confrontations for the GOP's benefit.

But we'll need to kick some Republicans out of congress for that, and since our systems are structurally built to favor their voters that's easier said than done.
 
2021-09-24 5:01:34 PM  
Oh sure, but what happens when the government needs to make change and no 7-11 will agree to break their 1 trillion dollar coin? That's just setting themselves up to fail.

What they really need to do is invest in 100 NFTs that are each worth a billion apiece. I just happen to have exactly that amount handy, so drop me a DM, Biden, and I'll hook you up.
 
2021-09-24 5:01:50 PM  
The debt ceiling is a dumb idea, so it can only be defeated by an even dumber idea. I say mint the coin.
 
2021-09-24 5:02:21 PM  

iheartscotch: Why not $20 trillion? Go big and go home.


Why stop there?
One billion gagillion fafillion shabadabalo shabadamillion shabaling shabalomillion yen
Youtube ngKT3MIfwpo
 
2021-09-24 5:02:50 PM  
The trillion dollar coin IS a ridiculous idea. Which makes it the ideal solution to the ridiculous debt ceiling problem.
 
2021-09-24 5:03:59 PM  
morbotron.comView Full Size
 
2021-09-24 5:09:54 PM  

mongbiohazard: Or, and I know this is a crazy thought, we could abolish the debt limit. It's a recent invention meant to force exactly these kind of confrontations for the GOP's benefit.

But we'll need to kick some Republicans out of congress for that, and since our systems are structurally built to favor their voters that's easier said than done.


The Democrtats have the advantage in the House and the VP to break the tie in Senate. Why do we "need to kick some Republicans out of Congress"? You got both houses + the White House.
 
2021-09-24 5:11:36 PM  
Just keep reintroducing the budget and calling for a vote. Do it every day for a week running up to the deadline.
You'll bait Fox into whining about it and then when Republican inaction causes a shutdown (again) keep bringing up the same bill for a vote. Everyone will know what's going on and Fox will have to backpedal or shut up but it'll be too late.
When 50 people are blocking both houses from passing a bill there will be pressure.
In other words play hardball. Maybe not this exact idea but start messaging now about having a bill ready to vote on at any moment if the conservatives would just stop crying and vote.
 
2021-09-24 5:13:18 PM  
i.ibb.coView Full Size

 
2021-09-24 5:13:34 PM  
Fark user imageView Full Size
 
2021-09-24 5:15:05 PM  

JerseyTim: The debt ceiling is a dumb idea, so it can only be defeated by an even dumber idea. I say mint the coin.


It's a dumb idea for a dumb country.

The main thing TFA says is the drawback is that it would "decrease confidence in the US dollar". Ummmmmm... I think that ship may not have sailed exactly, but it's definitely pulling up the anchor and unmooring itself from the dock. There's been a serious international discussion going on for a few years now about replacing the USD as the world's reserve currency. In addition to concerns about the US's stability and long term risks, the USD also affords the US a whole lot of extra power to bully other countries and gives the US a distinct competitive advantage economically. Loss of our currency as the world's reserve currency will have devastating and long term effects on our country.

So.... eh, why not? Abolishing the stupid debt limit - only conceived to begin with as a way for the GOP to deceptively gain advantage and politicize the national debt even further - is an easy call, but it may just not be possible in practical terms to actually do it. So I guess why not try a stupid solution for a stupid society? It's not going to be worse than defaulting.
 
2021-09-24 5:15:54 PM  

majestic: I realize that we really owe ourselves much of that money. But as someone who finally went completely debt free a few years ago, I think that would be a good idea for the country, too. I mean, I have a huge credit line available if I ever need it, but I also have money in the bank. I feel better with people owing me money vs. the other way around.


Nah, rather than attempting to go debt free what we should be doing is paying down the international portion of that debt during periods of prosperity, but instead we do things like give tax cuts to the rich.
 
2021-09-24 5:16:25 PM  

docilej: mongbiohazard: Or, and I know this is a crazy thought, we could abolish the debt limit. It's a recent invention meant to force exactly these kind of confrontations for the GOP's benefit.

But we'll need to kick some Republicans out of congress for that, and since our systems are structurally built to favor their voters that's easier said than done.

The Democrtats have the advantage in the House and the VP to break the tie in Senate. Why do we "need to kick some Republicans out of Congress"? You got both houses + the White House.


Well there's a problem with a few so called Dems , and the fact that republicants have no interest in making the country much less this planet a better place.
 
2021-09-24 5:17:41 PM  

Joe USer: Suing to have the debt ceiling ruled unconstitutional would be much more productive.


Just because something's monumentally stupid doesn't make it unconstitutional.
 
2021-09-24 5:17:46 PM  
If the Treasury refuses to Mint the Coin, I'll so it myself.
 
2021-09-24 5:21:48 PM  

majestic: I realize that we really owe ourselves much of that money. But as someone who finally went completely debt free a few years ago, I think that would be a good idea for the country, too. I mean, I have a huge credit line available if I ever need it, but I also have money in the bank. I feel better with people owing me money vs. the other way around.


I am not an economist, but I believe it's in the nation's best interest to owe money to other countries rather than have them owe us. Mainly because it helps in keeping them on our good side.

I recall when I was reading a lot on WWI, a large part of the reason the US finally entered the war was because France and the UK owed us tons and we were concerned if Germany won, we'd never get those loans back.
 
2021-09-24 5:25:20 PM  

docilej: mongbiohazard: Or, and I know this is a crazy thought, we could abolish the debt limit. It's a recent invention meant to force exactly these kind of confrontations for the GOP's benefit.

But we'll need to kick some Republicans out of congress for that, and since our systems are structurally built to favor their voters that's easier said than done.

The Democrtats have the advantage in the House and the VP to break the tie in Senate. Why do we "need to kick some Republicans out of Congress"? You got both houses + the White House.


Remember Joe Lieberman and and the Affordable Care Act? Because context is important, and without it you may not understand the full scope of the situation.

In this case the context is that there are several "Democrats" who are for most intents and purposes simply Republicans under another name. It's not a 50/50 Senate with Joe Manchin palling around with Mitch McConnell and friends, promising to help them block Democratic priorities for them and his oil industry payouts. Or Kristen Sinema also palling around with Republicans and helping them block the Democratic agenda for them and her pharmaceutical industry donors.

So for bills that Republicans don't object to we have a 50 R/50 D Senate with the VP as the tiebreaker. For bills that Republicans DO object to - anything which is not one of their priorities or might actually not harm people it's more like 53 R/47 D. That's just the reality of how our system actually works. We have a D POTUS, a D House of Reps, and effectively have a weak R Senate.
 
2021-09-24 5:28:23 PM  

mongbiohazard: docilej: mongbiohazard: Or, and I know this is a crazy thought, we could abolish the debt limit. It's a recent invention meant to force exactly these kind of confrontations for the GOP's benefit.

But we'll need to kick some Republicans out of congress for that, and since our systems are structurally built to favor their voters that's easier said than done.

The Democrtats have the advantage in the House and the VP to break the tie in Senate. Why do we "need to kick some Republicans out of Congress"? You got both houses + the White House.

Remember Joe Lieberman and and the Affordable Care Act? Because context is important, and without it you may not understand the full scope of the situation.

In this case the context is that there are several "Democrats" who are for most intents and purposes simply Republicans under another name. It's not a 50/50 Senate with Joe Manchin palling around with Mitch McConnell and friends, promising to help them block Democratic priorities for them and his oil industry payouts. Or Kristen Sinema also palling around with Republicans and helping them block the Democratic agenda for them and her pharmaceutical industry donors.

So for bills that Republicans don't object to we have a 50 R/50 D Senate with the VP as the tiebreaker. For bills that Republicans DO object to - anything which is not one of their priorities or might actually not harm people it's more like 53 R/47 D. That's just the reality of how our system actually works. We have a D POTUS, a D House of Reps, and effectively have a weak R Senate.


At present, most of the organized opposition within the Democratic party is coming from progressives like AOC and Bernie, not DINOs.
 
2021-09-24 5:32:16 PM  

admiral_neckbeard: Once again, Simpsons did it:

[Fark user image 275x183]


heh

"they named a street after me?  It's full of what?!"
 
2021-09-24 5:42:04 PM  
Money is all imaginary anyway. Can't we just all close our eyes, say "everything's back to zero" and then open them and just believe that's all there is to it? What makes money valuable is our faith in it. Our trust in its value.

So we simply decide, as a country, that old money is useless now and that all debts are paid, and then start over with bottlecaps or acorns or something.
 
2021-09-24 5:42:10 PM  
Oh goody. A bunch of politicians acting very concerned about the problem they created and have no intention of solving.

Will they do something about it?
Is the US Dollar about to become worthless and bond yields trend towards infinity?
Will they burn down the entire global monetary system and give up your country's undeniable economic advantage of issuing the global reserve currency?
Will Ted Cruz read "Green Eggs and Ham"!?
 
2021-09-24 5:43:51 PM  

EdgeRunner: mongbiohazard: docilej: mongbiohazard: Or, and I know this is a crazy thought, we could abolish the debt limit. It's a recent invention meant to force exactly these kind of confrontations for the GOP's benefit.

But we'll need to kick some Republicans out of congress for that, and since our systems are structurally built to favor their voters that's easier said than done.

The Democrtats have the advantage in the House and the VP to break the tie in Senate. Why do we "need to kick some Republicans out of Congress"? You got both houses + the White House.

Remember Joe Lieberman and and the Affordable Care Act? Because context is important, and without it you may not understand the full scope of the situation.

In this case the context is that there are several "Democrats" who are for most intents and purposes simply Republicans under another name. It's not a 50/50 Senate with Joe Manchin palling around with Mitch McConnell and friends, promising to help them block Democratic priorities for them and his oil industry payouts. Or Kristen Sinema also palling around with Republicans and helping them block the Democratic agenda for them and her pharmaceutical industry donors.

So for bills that Republicans don't object to we have a 50 R/50 D Senate with the VP as the tiebreaker. For bills that Republicans DO object to - anything which is not one of their priorities or might actually not harm people it's more like 53 R/47 D. That's just the reality of how our system actually works. We have a D POTUS, a D House of Reps, and effectively have a weak R Senate.

At present, most of the organized opposition within the Democratic party is coming from progressives like AOC and Bernie, not DINOs.


Negative.

The Progs made concessions to what they wanted, and worked out a compromise spending bill with the conservative Dems. Part of that compromise was an agreement that both the infrastructure bill and the 3.5 trillion omnibus spending bill would be voted on at once - because they were fully aware once the infrastructure bill was passed there would be 0 leverage on getting the needed votes from those conservative Dems for the larger spending bill and they would use the opportunity to tank the entire progressive agenda on behalf of Manchin's GOP houseboat guests and Sinema's Republican fundraising pals.

Which is exactly what the conservative Dems recently started saying they wanted to do. So the Progs are holding the line on the compromise bill - saying this is what you and we agreed to, so that's what we're holding you to. They're 100% right to do so, and it should be understood that they're trying to save the Democratic/Biden agenda. If they don't we'll all be bellyaching about it after the 3.5 trillion bill (ALREADY a huge compromise) is slashed down to irrelevance and Democrats aren't able to enact Democratic priorities at all. And THAT'S gonna be just farkin' fantastic going in to the midterms and the next presidential election.
 
2021-09-24 5:46:13 PM  

TofuTheAlmighty: The trillion dollar coin IS a ridiculous idea. Which makes it the ideal solution to the ridiculous debt ceiling problem.


There's an even better solution: the Democrats can raise the debt ceiling to a ridiculous number, like eleventy trillion, and then it won't come up again. The only reason we have to keep voting on it is because they choose a ceiling and we keep reaching it. Vote on a ceiling that has no basis in reality and we won't ever have to go through this again.
 
2021-09-24 5:51:20 PM  

Lsherm: TofuTheAlmighty: The trillion dollar coin IS a ridiculous idea. Which makes it the ideal solution to the ridiculous debt ceiling problem.

There's an even better solution: the Democrats can raise the debt ceiling to a ridiculous number, like eleventy trillion, and then it won't come up again. The only reason we have to keep voting on it is because they choose a ceiling and we keep reaching it. Vote on a ceiling that has no basis in reality and we won't ever have to go through this again.


We would blast through that limit in a decade.
 
2021-09-24 6:09:39 PM  

mongbiohazard: EdgeRunner: mongbiohazard: docilej: mongbiohazard: Or, and I know this is a crazy thought, we could abolish the debt limit. It's a recent invention meant to force exactly these kind of confrontations for the GOP's benefit.

But we'll need to kick some Republicans out of congress for that, and since our systems are structurally built to favor their voters that's easier said than done.

The Democrtats have the advantage in the House and the VP to break the tie in Senate. Why do we "need to kick some Republicans out of Congress"? You got both houses + the White House.

Remember Joe Lieberman and and the Affordable Care Act? Because context is important, and without it you may not understand the full scope of the situation.

In this case the context is that there are several "Democrats" who are for most intents and purposes simply Republicans under another name. It's not a 50/50 Senate with Joe Manchin palling around with Mitch McConnell and friends, promising to help them block Democratic priorities for them and his oil industry payouts. Or Kristen Sinema also palling around with Republicans and helping them block the Democratic agenda for them and her pharmaceutical industry donors.

So for bills that Republicans don't object to we have a 50 R/50 D Senate with the VP as the tiebreaker. For bills that Republicans DO object to - anything which is not one of their priorities or might actually not harm people it's more like 53 R/47 D. That's just the reality of how our system actually works. We have a D POTUS, a D House of Reps, and effectively have a weak R Senate.

At present, most of the organized opposition within the Democratic party is coming from progressives like AOC and Bernie, not DINOs.

Negative.

The Progs made concessions to what they wanted, and worked out a compromise spending bill with the conservative Dems. Part of that compromise was an agreement that both the infrastructure bill and the 3.5 trillion omnibus spending bill would be voted on at once - because they were fully aware once the infrastructure bill was passed there would be 0 leverage on getting the needed votes from those conservative Dems for the larger spending bill and they would use the opportunity to tank the entire progressive agenda on behalf of Manchin's GOP houseboat guests and Sinema's Republican fundraising pals.

Which is exactly what the conservative Dems recently started saying they wanted to do. So the Progs are holding the line on the compromise bill - saying this is what you and we agreed to, so that's what we're holding you to. They're 100% right to do so, and it should be understood that they're trying to save the Democratic/Biden agenda. If they don't we'll all be bellyaching about it after the 3.5 trillion bill (ALREADY a huge compromise) is slashed down to irrelevance and Democrats aren't able to enact Democratic priorities at all. And THAT'S gonna be just farkin' fantastic going in to the midterms and the next presidential election.


That's still organized resistance. It hasn't been very effective resistance so far, but every time Manchin and Sinema hold things back, the split between progressives and rank-and-file Democrats will just continue to widen. The future points to less DINOs and more AOCs, because the voters respond to her but the party doesn't. That's a situation that almost always leads to change.
 
2021-09-24 6:15:33 PM  

EdgeRunner: Oh sure, but what happens when the government needs to make change and no 7-11 will agree to break their 1 trillion dollar coin? That's just setting themselves up to fail.


There's a take-a-penny, leave-a-penny jar for a reason.
 
2021-09-24 6:23:59 PM  

khatores: Lsherm: TofuTheAlmighty: The trillion dollar coin IS a ridiculous idea. Which makes it the ideal solution to the ridiculous debt ceiling problem.

There's an even better solution: the Democrats can raise the debt ceiling to a ridiculous number, like eleventy trillion, and then it won't come up again. The only reason we have to keep voting on it is because they choose a ceiling and we keep reaching it. Vote on a ceiling that has no basis in reality and we won't ever have to go through this again.

We would blast through that limit in a decade.


Fine, then eleventy gabillion dollars. As long as it has eleventy in it.
 
2021-09-24 6:24:58 PM  

robodog: majestic: I realize that we really owe ourselves much of that money. But as someone who finally went completely debt free a few years ago, I think that would be a good idea for the country, too. I mean, I have a huge credit line available if I ever need it, but I also have money in the bank. I feel better with people owing me money vs. the other way around.

Nah, rather than attempting to go debt free what we should be doing is paying down the international portion of that debt during periods of prosperity, but instead we do things like give tax cuts to the rich.


Why keep the national portion?

Getting rid of interest payments would keep a lot of money available for useful expenses.

/Yes, yes, inflation makes debt cheaper
//But if people stopped doing everything with debt they wouldn't need inflation
///Plus wage increases rarely outpace inflation for large swaths of the population
//Not to mention that they don't count it as inflation when you can't afford prime cuts of steak anymore and get the cheaper ones instead
/Because you're still eating steak so it is all the same
 
2021-09-24 6:28:06 PM  

D135: Oh goody. A bunch of politicians acting very concerned about the problem they created and have no intention of solving.

Will they do something about it?
Is the US Dollar about to become worthless and bond yields trend towards infinity?
Will they burn down the entire global monetary system and give up your country's undeniable economic advantage of issuing the global reserve currency?
Will Ted Cruz read "Green Eggs and Ham"!?


Let's try, 1. the GOP will not do anything, if at all possible, that the Democrats want - like any 2nd graders. Never mind if it helps their constituents. 2. The US defaulting is something that every big company HATES... but the GOP's been taken over by wackos.

Get rid of the debt ceiling, put in place by the GOP to do just this bs.
 
2021-09-24 6:40:21 PM  
Stupid problems require stupid solutions. Mint that coin.
 
2021-09-24 6:45:03 PM  
Impossible.   Surely if it could be done the Orange Man would have issued it with his face on the coin.   I mean, of all the things, how'd he miss that one?
 
2021-09-24 6:46:47 PM  

mongbiohazard: EdgeRunner: mongbiohazard: docilej: mongbiohazard: Or, and I know this is a crazy thought, we could abolish the debt limit. It's a recent invention meant to force exactly these kind of confrontations for the GOP's benefit.

But we'll need to kick some Republicans out of congress for that, and since our systems are structurally built to favor their voters that's easier said than done.

The Democrtats have the advantage in the House and the VP to break the tie in Senate. Why do we "need to kick some Republicans out of Congress"? You got both houses + the White House.

Remember Joe Lieberman and and the Affordable Care Act? Because context is important, and without it you may not understand the full scope of the situation.

In this case the context is that there are several "Democrats" who are for most intents and purposes simply Republicans under another name. It's not a 50/50 Senate with Joe Manchin palling around with Mitch McConnell and friends, promising to help them block Democratic priorities for them and his oil industry payouts. Or Kristen Sinema also palling around with Republicans and helping them block the Democratic agenda for them and her pharmaceutical industry donors.

So for bills that Republicans don't object to we have a 50 R/50 D Senate with the VP as the tiebreaker. For bills that Republicans DO object to - anything which is not one of their priorities or might actually not harm people it's more like 53 R/47 D. That's just the reality of how our system actually works. We have a D POTUS, a D House of Reps, and effectively have a weak R Senate.

At present, most of the organized opposition within the Democratic party is coming from progressives like AOC and Bernie, not DINOs.

Negative.

The Progs made concessions to what they wanted, and worked out a compromise spending bill with the conservative Dems. Part of that compromise was an agreement that both the infrastructure bill and the 3.5 trillion omnibus spending bill would be voted on at once - because they were fully aware once the infrastructure bill was passed there would be 0 leverage on getting the needed votes from those conservative Dems for the larger spending bill and they would use the opportunity to tank the entire progressive agenda on behalf of Manchin's GOP houseboat guests and Sinema's Republican fundraising pals.

Which is exactly what the conservative Dems recently started saying they wanted to do. So the Progs are holding the line on the compromise bill - saying this is what you and we agreed to, so that's what we're holding you to. They're 100% right to do so, and it should be understood that they're trying to save the Democratic/Biden agenda. If they don't we'll all be bellyaching about it after the 3.5 trillion bill (ALREADY a huge compromise) is slashed down to irrelevance and Democrats aren't able to enact Democratic priorities at all. And THAT'S gonna be just farkin' fantastic going in to the midterms and the next presidential election.


Except, you see, implicit in the "deal" was that the Progressives were supposed to shut up and vote like they were told when the deal was broken. How far they actually make a stand on a deal that was agreed to!
 
2021-09-24 7:02:57 PM  
The trillion dollar coin thing is great, but my favorite is when the obstructionists (who kill police and smear sh*t on walls) linger on through to a government shut down and then blame the Human Beings
 
2021-09-24 7:12:55 PM  
That's a ridiculous idea. Mint one million of these instead.

Fark user imageView Full Size
 
2021-09-24 7:13:29 PM  
If they put Trump's picture on the coin then the Republicans will support it. I'm not even sure how much I'm joking here.
 
2021-09-24 7:27:11 PM  

majestic: I realize that we really owe ourselves much of that money. But as someone who finally went completely debt free a few years ago, I think that would be a good idea for the country, too. I mean, I have a huge credit line available if I ever need it, but I also have money in the bank. I feel better with people owing me money vs. the other way around.


Yeah but if your house is mortgaged and something happens, then it's the bank's problem. But if you own your house outright and something happens, then it is YOUR problem.

or something.
 
2021-09-24 7:29:09 PM  
The SImpsons: I Don't Have Your Money Here
Youtube ef99bFBTR54
 
2021-09-24 7:29:23 PM  
how much to buy one ???
lh3.googleusercontent.comView Full Size
 
2021-09-24 7:30:29 PM  

HailRobonia: [morbotron.com image 480x360]


Fark user imageView Full Size
 
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