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(Guardian)   A silly solution to a silly problem   (theguardian.com) divider line
    More: Obvious, United States public debt, Money, Currency, Monetary policy, Federal Reserve System, United States Congress, Money supply, Federal government of the United States  
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3209 clicks; posted to Politics » on 15 Oct 2021 at 6:29 PM (7 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2021-10-15 6:30:41 PM  
Beans, beans the magical fruit?
 
2021-10-15 6:31:49 PM  
Republicans want to break the country, so anything that causes misery, division, chaos, and default is their goal.
 
2021-10-15 6:31:54 PM  
Well that sounds like the premise of an ensemble heist movie.
 
2021-10-15 6:33:01 PM  
static.tvtropes.orgView Full Size


WORST. SIMPSONS. "HOMAGE." EVER.
 
2021-10-15 6:34:21 PM  
Makes no sense in what's basically a paperless money society.
 
2021-10-15 6:34:37 PM  
Fark user imageView Full Size

Nathan Tankus...
The living Dunning-Kruger in Neckbeard form.
 
2021-10-15 6:35:48 PM  
And then the next conservative president would mint a suitcase full of them, and half would "disappear".
 
2021-10-15 6:36:40 PM  
I swear if I hear one more thing about this stupid 'trillion dollar coin' idea...

//Still not even half as annoying as the repeated crises over the debt ceiling
/Because if we didn't keep repeating that crisis I wouldn't have heard about that stupid coin in the first place
 
2021-10-15 6:36:56 PM  

El_Dan: Well that sounds like the premise of an ensemble heist movie.


That would actually be the best outcome.

The Fed would normally just hold the coin and give the government $1T on the books. If the coin was stolen in some crazy heist the value would actually disappear. Even though it is a $1T coin once it is stolen it can't be 'cashed-in'. It would get sold to some rich guy and it would sit in a private collection as a curiosity.
 
2021-10-15 6:37:31 PM  
slm-assets.secondlife.comView Full Size


/youre a horrible person
//and youre going str8 to hell
.do not pass go nor collect $200
 
2021-10-15 6:39:37 PM  
I am skeptical that this loophole is actually a thing (mostly because it's a British newspaper proposing this and I know how well US newspapers tend to do fact-wise on reporting about parliamentary minutiae in the other direction).  But if it's real, that would be both pretty funny and not even in the top 100 of the stupid technicalities being used to substitute for actual competent policy in our government.
 
2021-10-15 6:42:58 PM  
Not to go all Jayden smith here, but money is an illusion. We can conjure up how much we want whenever we want. See all the corporate bailouts since 2007.

Minting a coin is just as simultaneously valid and stupid as any other way to handle a made up thing like a debt ceiling.

As has been said many times, no other civilized country deals with this shiat. It gets dumber by the day
 
2021-10-15 6:44:22 PM  
Fark user imageView Full Size
 
2021-10-15 6:45:02 PM  

El_Dan: Well that sounds like the premise of an ensemble heist movie.


I'd shoot it.

And in no way would pre-production be actual preparation for the heist. And you're a suspicious, mean-spirited bugger for thinking it.

/see you in Cuba
 
2021-10-15 6:46:53 PM  
Fark user imageView Full Size
 
2021-10-15 6:48:48 PM  
How many pounds of chocolate and square feet of foil would you need to make this thing?
 
2021-10-15 6:49:21 PM  
The main problem with this is that it invalidates Congress's "power of the purse." The debit celling is utterly stupid, it should be something that is automatically assumed when the budget and spending bills is approved. Anything that takes this hostage away from the GOP (and it's ALWAYS the GOP) would be good, but I'm not sure this would actually work to make that happen.

The problem is that Moscow Mitch has gotten us so far away from regular order that we can't do something like pass a law that straightens out the budgeting process and makes this shiat go away.
 
2021-10-15 6:52:27 PM  

Be polite walk on the right: [Fark user image 398x299] [View Full Size image _x_]


The frame rate in that GIF makes it look like his legs are occasionally going backwards.
 
2021-10-15 6:53:51 PM  
He runs to and fro on the path making his -- whatever

/Then the murders began.
 
2021-10-15 6:54:06 PM  
The U.S. excels above all other nations in creating massive, intractable problems for itself.
 
2021-10-15 6:54:07 PM  

bingethinker: How many pounds of chocolate and square feet of foil would you need to make this thing?


The proposed coin that came up last time was something smaller than a dime, but the thickness of a half dollar. The size was on purpose to show how small this problem REALLY is.

The Congress authorized the spending, it needs to authorize the resulting debit.
 
2021-10-15 6:55:24 PM  
If we're going to keep repeating this idea, I'm going to keep repeating the same joke:

Propose to mint it with Trump's face on it and he'll destroy any Republicans that dare to vote against.
 
2021-10-15 6:58:56 PM  

El_Dan: Well that sounds like the premise of an ensemble heist movie.


you sonofa biatch, I'm in!
...

alternately, couldn't it be like a NFT? still easily heist-worthy...
 
2021-10-15 7:01:09 PM  

special20: [Fark user image image 225x225]
Nathan Tankus...
The living Dunning-Kruger in Neckbeard form.


bring it

Fark user imageView Full Size
 
2021-10-15 7:01:45 PM  

madgonad: El_Dan: Well that sounds like the premise of an ensemble heist movie.

That would actually be the best outcome.

The Fed would normally just hold the coin and give the government $1T on the books. If the coin was stolen in some crazy heist the value would actually disappear. Even though it is a $1T coin once it is stolen it can't be 'cashed-in'. It would get sold to some rich guy and it would sit in a private collection as a curiosity.


Fark user imageView Full Size
 
2021-10-15 7:01:50 PM  
Fark user imageView Full Size
 
2021-10-15 7:04:03 PM  

Nicki Minaj's Cousin's Friend's Swollen Testicle: If we're going to keep repeating this idea, I'm going to keep repeating the same joke:

Propose to mint it with Trump's face on it and he'll destroy any Republicans that dare to vote against.


I say you mint one coin per president and have each be sized and denominated for the debt that was incurred during their term... then we watch trump get mad because Obama's coin is bigger. Deposit all the coins into the treasury and enjoy being debt free..
 
2021-10-15 7:04:36 PM  
i.pinimg.comView Full Size


i.pinimg.comView Full Size


/what a horrible, horrible show
 
2021-10-15 7:08:07 PM  
If you put President Trump's face on it, Foxx News will celebrate it
 
2021-10-15 7:08:57 PM  
I really don't care at this point. It doesn't matter.
 
2021-10-15 7:12:34 PM  

Be polite walk on the right: [i.pinimg.com image 610x410]

[i.pinimg.com image 512x338]

/what a horrible, horrible show


All I can remember of this show is that it would be on channel 9 in the mid morning when I was home on summer vacation.

/alongside Empty Nest, Dear John,and Wings
 
2021-10-15 7:13:18 PM  

Screaming Candle: The main problem with this is that it invalidates Congress's "power of the purse." The debit celling is utterly stupid, it should be something that is automatically assumed when the budget and spending bills is approved. Anything that takes this hostage away from the GOP (and it's ALWAYS the GOP) would be good, but I'm not sure this would actually work to make that happen.

The problem is that Moscow Mitch has gotten us so far away from regular order that we can't do something like pass a law that straightens out the budgeting process and makes this shiat go away.


If Congress wants to be stupid, they deserve to lose the power of the purse.

Mint a few decillion worth and let the President spend it as he would a department having a surplus after its core mission is fully funded.
 
2021-10-15 7:13:21 PM  

keldaria: Nicki Minaj's Cousin's Friend's Swollen Testicle: If we're going to keep repeating this idea, I'm going to keep repeating the same joke:

Propose to mint it with Trump's face on it and he'll destroy any Republicans that dare to vote against.

I say you mint one coin per president and have each be sized and denominated for the debt that was incurred during their term... then we watch trump get mad because Obama's coin is bigger. Deposit all the coins into the treasury and enjoy being debt free..


Honestly this might be a way to make republicans fold on the debt ceiling. Mint one coin a day for each president sized for the debt incurred during their term starting with Washington and working forward. The first 35 or so will be peanuts in the grand scheme of thing but will show you are serious. By the time they get to Nixon/Carters coins republicans will be squirming about the potential effects of actually printing money on inflation and their donor class will be literally ready to lynch them. Then accept no surrender, offer a bill that destroys all coins and eliminates the ability to mint future coins for absolutely scrapping the debt ceiling and then move the fark on.
 
2021-10-15 7:16:10 PM  
Biden should just use the bullshiat "National security" excuse Trump used to levy tariffs, which ordinarily belongs to Congress. If they ignored their duties now, just do it for an actual reason.
 
2021-10-15 7:17:40 PM  
Mint a coin that is 3.28 x 10^80 dollars.  Finite limit, but at the same time, money problem solved.
 
2021-10-15 7:22:10 PM  
memegenerator.netView Full Size
 
2021-10-15 7:23:37 PM  
How about The government buys a bunch of dogecoin and runs the price up to about a million dollars each?  That would not only solve the debt crisis but make me a tidy sum as well.
 
2021-10-15 7:25:55 PM  
"The government has minted a trillion dollar coin" is the beginning of a pitch of a bad heist movie.
 
2021-10-15 7:28:58 PM  

AmbassadorBooze: Mint a coin that is 3.28 x 10^80 dollars.  Finite limit, but at the same time, money problem solved.


mathemagician within me now wants fiat currency based upon cardinal numbers not ordinal numbers.

debt x debt == debt. can't complain about ceilings then, amirite?
 
2021-10-15 7:33:11 PM  

Nicki Minaj's Cousin's Friend's Swollen Testicle: If we're going to keep repeating this idea, I'm going to keep repeating the same joke:

Propose to mint it with Trump's face on it and he'll destroy any Republicans that dare to vote against.


Nah. Say that Trump was in contention, but then mint it with Reagan's face.

And then just watch.
 
2021-10-15 7:48:38 PM  

Nicki Minaj's Cousin's Friend's Swollen Testicle: If we're going to keep repeating this idea, I'm going to keep repeating the same joke:

Propose to mint it with Trump's face on it and he'll destroy any Republicans that dare to vote against.


Not much of a joke. That shiat is the truth.
 
2021-10-15 7:57:16 PM  
It's mesmerizing to see the walk back and forth between "reserve currency status means just print more" and "but don't say that too loud or you'll break money."

Could probably table that discussion for decades more if we just tapped the massive private wealth reserve in this country through a stronger tax code and a more robust estate tax, but that would hurt the important people, and that would be bad for reasons.
 
2021-10-15 8:01:24 PM  
And also the dithering between Congress holding the change purse, but oh look at that treasury off in the corner.

/It's all like the monetary equivalent of my workbench during a project.
 
2021-10-15 8:14:05 PM  
But If it's made of milk chocolate, and the President is allowed to eat it, more lactose-intolerant diabetics will be elected to office.
 
2021-10-15 8:53:38 PM  

mrparks: Nicki Minaj's Cousin's Friend's Swollen Testicle: If we're going to keep repeating this idea, I'm going to keep repeating the same joke:

Propose to mint it with Trump's face on it and he'll destroy any Republicans that dare to vote against.

Not much of a joke. That shiat is the truth.


Still think it should have Reagan, "the grandfather of the national debt", on it.  Although I think Trump bumped him up to great-grandfather and Dubya to grandfather.

Although in Snow Crash, the Gipper was the quadrillion dollar note (and used like Weimar Deutsche marks) while the Meese was the trillion dollar bill.  If we must copy Snow Crash, we might as well get the denominations right.
 
2021-10-15 9:07:49 PM  
A. Do not negotiate. Put up a bill at the last day and let the republicans decide to vote it down  in order to destroy the economy. They won't.
B. But if they do immediately go on tv, state you're passing an EO directing the Treasury to continue borrowing as the law is unconstitutional.
C. If the republicans still want to fark around and actually bring a lawsuit to force a default in an election year even better. Use delaying tactics to slow down the case and ride that story all the way to the polls. The republicans corporate donations would evaporate. Their support among all supporters except the maga idiots would vanish.
D. Use the resulting wins to have enough seats to pass removing the filibuster, repeal the debt ceiling if the case hasn't finished, it gets tossed as moot. Then actually have the ability to govern without giving a shiat about McConnell
 
2021-10-15 9:11:38 PM  

Snatch Bandergrip: Be polite walk on the right: [i.pinimg.com image 610x410]

[i.pinimg.com image 512x338]

/what a horrible, horrible show

All I can remember of this show is that it would be on channel 9 in the mid morning when I was home on summer vacation.

/alongside Empty Nest, Dear John,and Wings


No love for MY TWO DADS?  ALF? PUNKY BREWSTER?
 
2021-10-15 9:28:54 PM  
Ward weren't you hard on the Beaver last night
 
2021-10-15 9:32:21 PM  

yet_another_wumpus: mrparks: Nicki Minaj's Cousin's Friend's Swollen Testicle: If we're going to keep repeating this idea, I'm going to keep repeating the same joke:

Propose to mint it with Trump's face on it and he'll destroy any Republicans that dare to vote against.

Not much of a joke. That shiat is the truth.

Still think it should have Reagan, "the grandfather of the national debt", on it.  Although I think Trump bumped him up to great-grandfather and Dubya to grandfather.

Although in Snow Crash, the Gipper was the quadrillion dollar note (and used like Weimar Deutsche marks) while the Meese was the trillion dollar bill.  If we must copy Snow Crash, we might as well get the denominations right.


Where'd I leave that damned rebar ...
 
2021-10-15 10:26:28 PM  
Ok if they mint this thing we need to gather a Oceans 11 heist crew and steal that thing. We can throw the mother of all fark parties.
 
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