A collecting forum. CollectingBanter

If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

Go Back   Home » CollectingBanter forum » Collecting newsgroups » Coins
Site Map Home Register Authors List Search Today's Posts Mark Forums Read Web Partners

Trillion Dollar Coin



 
 
Thread Tools Display Modes
  #11  
Old January 9th 13, 07:35 AM posted to rec.collecting.coins
Jason Burke[_2_]
external usenet poster
 
Posts: 75
Default Trillion Dollar Coin

On 1/8/2013 9:59 PM, oly wrote:
On Jan 8, 9:56 pm, "bremick" wrote:
"oly" wrote in message

...

On Jan 8, 8:17 pm, "bremick" wrote:





"Frank Galikanokus" wrote in ...
oly wrote:


On Jan 5, 10:11 pm, "bremick" wrote:
"Jerry Dennis" wrote in message


...


No link to this rumor, but it was on TV on The Five last night, and
Huffington Post ran a blurb on its web site. Seems the feds are
seriously considering issuing a platinum coin worth a trillion dollars
to avoid the debt ceiling.


I did a little math on the deal using the current $100 Platinum Eagle
as a base. Using the ratios for 1 oz. PAEs, it would take 10 billion
troy oz., or just over 342,857.142 86 tons (US), for a single trillion
dollar eagle.


Kind of makes the 2007 Canadian $1,000,000 Maple Leaf (100 kg) and the
2012 Austrailian $1,000,000 Kangaroo (1000 kg) seem like chump change.


Jerry
----------


Would it actually be money if it isn't intended for circulation? I'm
thinking of those 1933 Saints here. If so, what would that really
accomplish? I'm sure there probably were a bunch of legal experts
involved
if the govt ever seriously considered it. Could it be legally "worth"
a
trillion if it simply said so on it with a Congressional blessing? Or
would
it require a trillion worth of platinum? Sadly, this government
seems
to
be reduced to weirdness rather than common sense to reduce our debt.


I think the idea (which is just an accounting trick) would be to take
a simple one ounce platinum blank and stamp it "one trillion
dollars".


There is no need to attempt to make the intrinsic value of such a coin
anywhere close to its "face". The Traesury Secretary would have the
very few of these coins which were required to be made up sent to some
vault in New York City or Washington D.C.


Congressional approval probably doesn't mean squat.


But there is simply no point to minting such a coin; the Federal
Reserve Bank effectively does this every day with their computers and
gee, they don't do a sum of one trillion dollars more than two or
three times per year.


In Weimar Germany in 1922-23, they didn't use any more paper to print
a million mark note than they did to print the Imperial pre-war one
hundred mark note (indeed they used a smaller price of paper).


Wrap your head around this thought: "Money" means nothing anymore.
Work, careers, business skills, effort means nothing anymore. The
money cheaters can create more "money" in a computer keystroke than
you or I could "earn" by ten thousand lifetimes of "work".


oly


I agree!


So what are we going to do about the millionaires and billionaires and
their
tools that
are trashing our economy and threatening our freedom?


JAM
--------


I say let's vote them out of Congress!!- Hide quoted text -


- Show quoted text -


I think that the old comic strip "Pogo" (Walt Kelly) quote went
something like "We have met the enemy and it is us" and that it
applies here.

Lots and lots of people get more from "the System" than they ever put
in. My poor old paternal grandparents clearly did towards the end of
their lives. My parents did too (but they were very successful and
they did put in quite a lot first, up-front). I am now angling to
game "the System" for myself. Being personally honest about what you
tell yourself about yourself is still rather important. Sauve qui
peut, baayy-beeee.

oly
-------

For every person who is fortunate and healthy enough to "game the system",
there are two or three who pass away well before recouping what they put in.
On the other hand, there are some who work for a only couple years but incur
a disability and then collect for the rest of their lives. I'd prefer to
stay healthy and take my chances. Good luck to you as you enter a new phase
of you life.

Bruce- Hide quoted text -

- Show quoted text -


And if I'm being ****y, I'll take issue with your demographics and
return of retirement contributions. Most people who have been
presently been retired for two decades got their own contributions
back within three years or less. Presently, more recent retirees are
looking at five to seven years before they start playing on the
house's money. There are NOT two or three people dying early for
every one that actually reaches retirement age. NOT the case at all.
If that was true, the crap debt would not be piling up the way it is.


What we need here is for Bobbie to give folks suicide lessons.
Oh, never mind, that wouldn't work. We'd just end up with more failed
suicidal asswipes ending up on the public dole.

Maybe Timmy should mint about a dozen of them trillion dollar
platinums.

oly


Ads
  #12  
Old January 9th 13, 04:20 PM posted to rec.collecting.coins
Bremick
external usenet poster
 
Posts: 641
Default Trillion Dollar Coin

"oly" wrote in message
...

On Jan 8, 9:56 pm, "bremick" wrote:
"oly" wrote in message

...

On Jan 8, 8:17 pm, "bremick" wrote:





"Frank Galikanokus" wrote in ...
oly wrote:


On Jan 5, 10:11 pm, "bremick" wrote:
"Jerry Dennis" wrote in message


...


No link to this rumor, but it was on TV on The Five last night, and
Huffington Post ran a blurb on its web site. Seems the feds are
seriously considering issuing a platinum coin worth a trillion
dollars
to avoid the debt ceiling.


I did a little math on the deal using the current $100 Platinum
Eagle
as a base. Using the ratios for 1 oz. PAEs, it would take 10
billion
troy oz., or just over 342,857.142 86 tons (US), for a single
trillion
dollar eagle.


Kind of makes the 2007 Canadian $1,000,000 Maple Leaf (100 kg) and
the
2012 Austrailian $1,000,000 Kangaroo (1000 kg) seem like chump
change.


Jerry
----------


Would it actually be money if it isn't intended for circulation?
I'm
thinking of those 1933 Saints here. If so, what would that really
accomplish? I'm sure there probably were a bunch of legal experts
involved
if the govt ever seriously considered it. Could it be legally
"worth"
a
trillion if it simply said so on it with a Congressional blessing?
Or
would
it require a trillion worth of platinum? Sadly, this government
seems
to
be reduced to weirdness rather than common sense to reduce our debt.


I think the idea (which is just an accounting trick) would be to take
a simple one ounce platinum blank and stamp it "one trillion
dollars".


There is no need to attempt to make the intrinsic value of such a coin
anywhere close to its "face". The Traesury Secretary would have the
very few of these coins which were required to be made up sent to some
vault in New York City or Washington D.C.


Congressional approval probably doesn't mean squat.


But there is simply no point to minting such a coin; the Federal
Reserve Bank effectively does this every day with their computers and
gee, they don't do a sum of one trillion dollars more than two or
three times per year.


In Weimar Germany in 1922-23, they didn't use any more paper to print
a million mark note than they did to print the Imperial pre-war one
hundred mark note (indeed they used a smaller price of paper).


Wrap your head around this thought: "Money" means nothing anymore.
Work, careers, business skills, effort means nothing anymore. The
money cheaters can create more "money" in a computer keystroke than
you or I could "earn" by ten thousand lifetimes of "work".


oly


I agree!


So what are we going to do about the millionaires and billionaires and
their
tools that
are trashing our economy and threatening our freedom?


JAM
--------


I say let's vote them out of Congress!!- Hide quoted text -


- Show quoted text -


I think that the old comic strip "Pogo" (Walt Kelly) quote went
something like "We have met the enemy and it is us" and that it
applies here.

Lots and lots of people get more from "the System" than they ever put
in. My poor old paternal grandparents clearly did towards the end of
their lives. My parents did too (but they were very successful and
they did put in quite a lot first, up-front). I am now angling to
game "the System" for myself. Being personally honest about what you
tell yourself about yourself is still rather important. Sauve qui
peut, baayy-beeee.

oly
-------

For every person who is fortunate and healthy enough to "game the system",
there are two or three who pass away well before recouping what they put
in.
On the other hand, there are some who work for a only couple years but
incur
a disability and then collect for the rest of their lives. I'd prefer to
stay healthy and take my chances. Good luck to you as you enter a new
phase
of you life.

Bruce- Hide quoted text -

- Show quoted text -


And if I'm being ****y, I'll take issue with your demographics and
return of retirement contributions. Most people who have been
presently been retired for two decades got their own contributions
back within three years or less. Presently, more recent retirees are
looking at five to seven years before they start playing on the
house's money. There are NOT two or three people dying early for
every one that actually reaches retirement age. NOT the case at all.
If that was true, the crap debt would not be piling up the way it is.
-------

Unless you can cite figures, I still believe that more people die before
recouping their total FICA contributions, either before or after retirement,
than those who end up living long enough to reap dividends after retiring.

In my own case, at tax time I subtract 5% of my retirement contributions
each year for 20 years as withheld money already taxed (thankfully, the govt
calculates the exact amount). After that, my full annuity will be taxed
(unless I move to say NC). This retirement benefit was considered meager
when I chose to work for the govt 50 years ago when most in comparable
private industry jobs were making much more money and had fully paid
retirement, health care, and presumed job security. But today, that meager
fed retirement pension seems like a pretty good deal, all things
considered -- retiring at about 80% of income with periodic COLA raises. It
took fifty years to overtake many of my private industry counterparts,
benefit-wise, but it was an option available to all of us at the time and
I'd probably do it all over again.

Again, hope you'll enjoy your retirement.



  #13  
Old January 9th 13, 04:22 PM posted to rec.collecting.coins
oly
external usenet poster
 
Posts: 3,111
Default Trillion Dollar Coin

On Jan 9, 9:20*am, "bremick" wrote:
"oly" *wrote in message

...

On Jan 8, 9:56 pm, "bremick" wrote:





"oly" *wrote in message


....


On Jan 8, 8:17 pm, "bremick" wrote:


"Frank Galikanokus" *wrote in ...
oly wrote:


On Jan 5, 10:11 pm, "bremick" wrote:
"Jerry Dennis" *wrote in message


...


No link to this rumor, but it was on TV on The Five last night, and
Huffington Post ran a blurb on its web site. *Seems the feds are
seriously considering issuing a platinum coin worth a trillion
dollars
to avoid the debt ceiling.


I did a little math on the deal using the current $100 Platinum
Eagle
as a base. *Using the ratios for 1 oz. PAEs, it would take 10
billion
troy oz., or just over 342,857.142 86 tons (US), for a single
trillion
dollar eagle.


Kind of makes the 2007 Canadian $1,000,000 Maple Leaf (100 kg) and
the
2012 Austrailian $1,000,000 Kangaroo (1000 kg) seem like chump
change.


Jerry
----------


Would it actually be money if it isn't intended for circulation?
I'm
thinking of those 1933 Saints here. *If so, what would that really
accomplish? *I'm sure there probably were a bunch of legal experts
involved
if the govt ever seriously considered it. *Could it be legally
"worth"
a
trillion if it simply said so on it with a Congressional blessing?
Or
would
it require a trillion worth of platinum? * Sadly, this government
seems
to
be reduced to weirdness rather than common sense to reduce our debt.


I think the idea (which is just an accounting trick) would be to take
a simple one ounce platinum blank and stamp it "one trillion
dollars".


There is no need to attempt to make the intrinsic value of such a coin
anywhere close to its "face". *The Traesury Secretary would have the
very few of these coins which were required to be made up sent to some
vault in New York City or Washington D.C.


Congressional approval probably doesn't mean squat.


But there is simply no point to minting such a coin; the Federal
Reserve Bank effectively does this every day with their computers and
gee, they don't do a sum of one trillion dollars more than two or
three times per year.


In Weimar Germany in 1922-23, they didn't use any more paper to print
a million mark note than they did to print the Imperial pre-war one
hundred mark note (indeed they used a smaller price of paper).


Wrap your head around this thought: "Money" means nothing anymore.
Work, careers, business skills, effort means nothing anymore. *The
money cheaters can create more "money" in a computer keystroke than
you or I could "earn" by ten thousand lifetimes of "work".


oly


I agree!


So what are we going to do about the millionaires and billionaires and
their
tools that
are trashing our economy and threatening our freedom?


JAM
--------


I say let's vote them out of Congress!!- Hide quoted text -


- Show quoted text -


I think that the old comic strip "Pogo" (Walt Kelly) quote went
something like "We have met the enemy and it is us" and that it
applies here.


Lots and lots of people get more from "the System" than they ever put
in. *My poor old paternal grandparents clearly did towards the end of
their lives. *My parents did too (but they were very successful and
they did put in quite a lot first, up-front). *I am now angling to
game "the System" for myself. *Being personally honest about what you
tell yourself about yourself is still rather important. *Sauve qui
peut, baayy-beeee.


oly
-------


For every person who is fortunate and healthy enough to "game the system",
there are two or three who pass away well before recouping what they put
in.
On the other hand, there are some who work for a only couple years but
incur
a disability and then collect for the rest of their lives. *I'd prefer to
stay healthy and take my chances. *Good luck to you as you enter a new
phase
of you life.


Bruce- Hide quoted text -


- Show quoted text -


And if I'm being ****y, I'll take issue with your demographics and
return of retirement contributions. *Most people who have been
presently been retired for two decades got their own contributions
back within three years or less. *Presently, more recent retirees are
looking at five to seven years before they start playing on the
house's money. *There are NOT two or three people dying early for
every one that actually reaches retirement age. *NOT the case at all.
If that was true, the crap debt would not be piling up the way it is.
-------

Unless you can cite figures, I still believe that more people die before
recouping their total FICA contributions, either before or after retirement,
than those who end up living long enough to reap dividends after retiring..

In my own case, at tax time I subtract 5% of my retirement contributions
each year for 20 years as withheld money already taxed (thankfully, the govt
calculates the exact amount). *After that, my full annuity will be taxed
(unless I move to say NC). *This retirement benefit was considered meager
when I chose to work for the govt 50 years ago when most in comparable
private industry jobs were making much more money and had fully paid
retirement, health care, and presumed job security. *But today, that meager
fed retirement pension seems like a pretty good deal, all things
considered -- retiring at about 80% of income with periodic COLA raises. *It
took fifty years to overtake many of my private industry counterparts,
benefit-wise, but it was an option available to all of us at the time and
I'd probably do it all over again.

Again, hope you'll enjoy your retirement.- Hide quoted text -

- Show quoted text -


Many thanks, Mr. R. The date is quite soon.

oly
  #14  
Old January 10th 13, 11:59 PM posted to rec.collecting.coins
Frank Galikanokus
external usenet poster
 
Posts: 291
Default Trillion Dollar Coin

oly wrote:

On Jan 8, 8:17 pm, "bremick" wrote:
"Frank Galikanokus" wrote in ...
oly wrote:

On Jan 5, 10:11 pm, "bremick" wrote:
"Jerry Dennis" wrote in message


...


No link to this rumor, but it was on TV on The Five last night, and
Huffington Post ran a blurb on its web site. Seems the feds are
seriously considering issuing a platinum coin worth a trillion dollars
to avoid the debt ceiling.


I did a little math on the deal using the current $100 Platinum Eagle
as a base. Using the ratios for 1 oz. PAEs, it would take 10 billion
troy oz., or just over 342,857.142 86 tons (US), for a single trillion
dollar eagle.


Kind of makes the 2007 Canadian $1,000,000 Maple Leaf (100 kg) and the
2012 Austrailian $1,000,000 Kangaroo (1000 kg) seem like chump change.


Jerry
----------


Would it actually be money if it isn't intended for circulation? I'm
thinking of those 1933 Saints here. If so, what would that really
accomplish? I'm sure there probably were a bunch of legal experts
involved
if the govt ever seriously considered it. Could it be legally "worth" a
trillion if it simply said so on it with a Congressional blessing? Or
would
it require a trillion worth of platinum? Sadly, this government seems
to
be reduced to weirdness rather than common sense to reduce our debt.


I think the idea (which is just an accounting trick) would be to take
a simple one ounce platinum blank and stamp it "one trillion
dollars".


There is no need to attempt to make the intrinsic value of such a coin
anywhere close to its "face". The Traesury Secretary would have the
very few of these coins which were required to be made up sent to some
vault in New York City or Washington D.C.


Congressional approval probably doesn't mean squat.


But there is simply no point to minting such a coin; the Federal
Reserve Bank effectively does this every day with their computers and
gee, they don't do a sum of one trillion dollars more than two or
three times per year.


In Weimar Germany in 1922-23, they didn't use any more paper to print
a million mark note than they did to print the Imperial pre-war one
hundred mark note (indeed they used a smaller price of paper).


Wrap your head around this thought: "Money" means nothing anymore.
Work, careers, business skills, effort means nothing anymore. The
money cheaters can create more "money" in a computer keystroke than
you or I could "earn" by ten thousand lifetimes of "work".


oly


I agree!

So what are we going to do about the millionaires and billionaires and their
tools that
are trashing our economy and threatening our freedom?

JAM
--------

I say let's vote them out of Congress!!- Hide quoted text -

- Show quoted text -


I think that the old comic strip "Pogo" (Walt Kelly) quote went
something like "We have met the enemy and it is us" and that it
applies here.

Lots and lots of people get more from "the System" than they ever put
in. My poor old paternal grandparents clearly did towards the end of
their lives. My parents did too (but they were very successful and
they did put in quite a lot first, up-front). I am now angling to
game "the System" for myself. Being personally honest about what you
tell yourself about yourself is still rather important. Sauve qui
peut, baayy-beeee.

oly

oly


The people that are getting more from "the System" than they ever put in are the
millionaires and billionaires and their tools that are trashing our economy and
threatening our freedom.

JAM
  #15  
Old January 11th 13, 12:02 AM posted to rec.collecting.coins
Frank Galikanokus
external usenet poster
 
Posts: 291
Default Trillion Dollar Coin

oly wrote:

On Jan 8, 9:56 pm, "bremick" wrote:
"oly" wrote in message

...

On Jan 8, 8:17 pm, "bremick" wrote:





"Frank Galikanokus" wrote in ...
oly wrote:


On Jan 5, 10:11 pm, "bremick" wrote:
"Jerry Dennis" wrote in message


...


No link to this rumor, but it was on TV on The Five last night, and
Huffington Post ran a blurb on its web site. Seems the feds are
seriously considering issuing a platinum coin worth a trillion dollars
to avoid the debt ceiling.


I did a little math on the deal using the current $100 Platinum Eagle
as a base. Using the ratios for 1 oz. PAEs, it would take 10 billion
troy oz., or just over 342,857.142 86 tons (US), for a single trillion
dollar eagle.


Kind of makes the 2007 Canadian $1,000,000 Maple Leaf (100 kg) and the
2012 Austrailian $1,000,000 Kangaroo (1000 kg) seem like chump change.


Jerry
----------


Would it actually be money if it isn't intended for circulation? I'm
thinking of those 1933 Saints here. If so, what would that really
accomplish? I'm sure there probably were a bunch of legal experts
involved
if the govt ever seriously considered it. Could it be legally "worth"
a
trillion if it simply said so on it with a Congressional blessing? Or
would
it require a trillion worth of platinum? Sadly, this government
seems
to
be reduced to weirdness rather than common sense to reduce our debt.


I think the idea (which is just an accounting trick) would be to take
a simple one ounce platinum blank and stamp it "one trillion
dollars".


There is no need to attempt to make the intrinsic value of such a coin
anywhere close to its "face". The Traesury Secretary would have the
very few of these coins which were required to be made up sent to some
vault in New York City or Washington D.C.


Congressional approval probably doesn't mean squat.


But there is simply no point to minting such a coin; the Federal
Reserve Bank effectively does this every day with their computers and
gee, they don't do a sum of one trillion dollars more than two or
three times per year.


In Weimar Germany in 1922-23, they didn't use any more paper to print
a million mark note than they did to print the Imperial pre-war one
hundred mark note (indeed they used a smaller price of paper).


Wrap your head around this thought: "Money" means nothing anymore.
Work, careers, business skills, effort means nothing anymore. The
money cheaters can create more "money" in a computer keystroke than
you or I could "earn" by ten thousand lifetimes of "work".


oly


I agree!


So what are we going to do about the millionaires and billionaires and
their
tools that
are trashing our economy and threatening our freedom?


JAM
--------


I say let's vote them out of Congress!!- Hide quoted text -


- Show quoted text -


I think that the old comic strip "Pogo" (Walt Kelly) quote went
something like "We have met the enemy and it is us" and that it
applies here.

Lots and lots of people get more from "the System" than they ever put
in. My poor old paternal grandparents clearly did towards the end of
their lives. My parents did too (but they were very successful and
they did put in quite a lot first, up-front). I am now angling to
game "the System" for myself. Being personally honest about what you
tell yourself about yourself is still rather important. Sauve qui
peut, baayy-beeee.

oly
-------

For every person who is fortunate and healthy enough to "game the system",
there are two or three who pass away well before recouping what they put in.
On the other hand, there are some who work for a only couple years but incur
a disability and then collect for the rest of their lives. I'd prefer to
stay healthy and take my chances. Good luck to you as you enter a new phase
of you life.

Bruce- Hide quoted text -

- Show quoted text -


And if I'm being ****y, I'll take issue with your demographics and
return of retirement contributions. Most people who have been
presently been retired for two decades got their own contributions
back within three years or less. Presently, more recent retirees are
looking at five to seven years before they start playing on the
house's money. There are NOT two or three people dying early for
every one that actually reaches retirement age. NOT the case at all.
If that was true, the crap debt would not be piling up the way it is.

Maybe Timmy should mint about a dozen of them trillion dollar
platinums.

oly


Social Security does not contribute to the national debt.

JAM
  #16  
Old January 11th 13, 01:44 AM posted to rec.collecting.coins
Bremick
external usenet poster
 
Posts: 641
Default Trillion Dollar Coin

"Frank Galikanokus" wrote in message ...

oly wrote:

On Jan 8, 8:17 pm, "bremick" wrote:
"Frank Galikanokus" wrote in ...
oly wrote:

On Jan 5, 10:11 pm, "bremick" wrote:
"Jerry Dennis" wrote in message


...


No link to this rumor, but it was on TV on The Five last night, and
Huffington Post ran a blurb on its web site. Seems the feds are
seriously considering issuing a platinum coin worth a trillion
dollars
to avoid the debt ceiling.


I did a little math on the deal using the current $100 Platinum
Eagle
as a base. Using the ratios for 1 oz. PAEs, it would take 10
billion
troy oz., or just over 342,857.142 86 tons (US), for a single
trillion
dollar eagle.


Kind of makes the 2007 Canadian $1,000,000 Maple Leaf (100 kg) and
the
2012 Austrailian $1,000,000 Kangaroo (1000 kg) seem like chump
change.


Jerry
----------


Would it actually be money if it isn't intended for circulation?
I'm
thinking of those 1933 Saints here. If so, what would that really
accomplish? I'm sure there probably were a bunch of legal experts
involved
if the govt ever seriously considered it. Could it be legally
"worth" a
trillion if it simply said so on it with a Congressional blessing?
Or
would
it require a trillion worth of platinum? Sadly, this government
seems
to
be reduced to weirdness rather than common sense to reduce our debt.


I think the idea (which is just an accounting trick) would be to take
a simple one ounce platinum blank and stamp it "one trillion
dollars".


There is no need to attempt to make the intrinsic value of such a coin
anywhere close to its "face". The Traesury Secretary would have the
very few of these coins which were required to be made up sent to some
vault in New York City or Washington D.C.


Congressional approval probably doesn't mean squat.


But there is simply no point to minting such a coin; the Federal
Reserve Bank effectively does this every day with their computers and
gee, they don't do a sum of one trillion dollars more than two or
three times per year.


In Weimar Germany in 1922-23, they didn't use any more paper to print
a million mark note than they did to print the Imperial pre-war one
hundred mark note (indeed they used a smaller price of paper).


Wrap your head around this thought: "Money" means nothing anymore.
Work, careers, business skills, effort means nothing anymore. The
money cheaters can create more "money" in a computer keystroke than
you or I could "earn" by ten thousand lifetimes of "work".


oly


I agree!

So what are we going to do about the millionaires and billionaires and
their
tools that
are trashing our economy and threatening our freedom?

JAM
--------

I say let's vote them out of Congress!!- Hide quoted text -

- Show quoted text -


I think that the old comic strip "Pogo" (Walt Kelly) quote went
something like "We have met the enemy and it is us" and that it
applies here.

Lots and lots of people get more from "the System" than they ever put
in. My poor old paternal grandparents clearly did towards the end of
their lives. My parents did too (but they were very successful and
they did put in quite a lot first, up-front). I am now angling to
game "the System" for myself. Being personally honest about what you
tell yourself about yourself is still rather important. Sauve qui
peut, baayy-beeee.

oly

oly


The people that are getting more from "the System" than they ever put in are
the
millionaires and billionaires and their tools that are trashing our economy
and
threatening our freedom.

JAM
----------

Some of my best friends are millionaires and billionaires. I often ask to
borrow some of their great tools. As far as I know, none has ever
threatened to trash our economy or threaten our freedom or eat our children.
Where do YOU live and what channel are you watching?


  #17  
Old January 11th 13, 08:04 AM posted to rec.collecting.coins
Jerry Dennis
external usenet poster
 
Posts: 1,207
Default Trillion Dollar Coin

On Jan 10, 6:02*pm, Frank Galikanokus
wrote:
oly wrote:

On Jan 8, 9:56 pm, "bremick" wrote:
"oly" *wrote in message


....


On Jan 8, 8:17 pm, "bremick" wrote:


"Frank Galikanokus" *wrote in ...
oly wrote:


On Jan 5, 10:11 pm, "bremick" wrote:
"Jerry Dennis" *wrote in message


...


No link to this rumor, but it was on TV on The Five last night, and
Huffington Post ran a blurb on its web site. *Seems the feds are
seriously considering issuing a platinum coin worth a trillion dollars
to avoid the debt ceiling.


I did a little math on the deal using the current $100 Platinum Eagle
as a base. *Using the ratios for 1 oz. PAEs, it would take 10 billion
troy oz., or just over 342,857.142 86 tons (US), for a single trillion
dollar eagle.


Kind of makes the 2007 Canadian $1,000,000 Maple Leaf (100 kg) and the
2012 Austrailian $1,000,000 Kangaroo (1000 kg) seem like chump change.


Jerry
----------


Would it actually be money if it isn't intended for circulation? *I'm
thinking of those 1933 Saints here. *If so, what would that really
accomplish? *I'm sure there probably were a bunch of legal experts
involved
if the govt ever seriously considered it. *Could it be legally "worth"
a
trillion if it simply said so on it with a Congressional blessing? *Or
would
it require a trillion worth of platinum? * Sadly, this government
seems
to
be reduced to weirdness rather than common sense to reduce our debt.


I think the idea (which is just an accounting trick) would be to take
a simple one ounce platinum blank and stamp it "one trillion
dollars".


There is no need to attempt to make the intrinsic value of such a coin
anywhere close to its "face". *The Traesury Secretary would have the
very few of these coins which were required to be made up sent to some
vault in New York City or Washington D.C.


Congressional approval probably doesn't mean squat.


But there is simply no point to minting such a coin; the Federal
Reserve Bank effectively does this every day with their computers and
gee, they don't do a sum of one trillion dollars more than two or
three times per year.


In Weimar Germany in 1922-23, they didn't use any more paper to print
a million mark note than they did to print the Imperial pre-war one
hundred mark note (indeed they used a smaller price of paper).


Wrap your head around this thought: "Money" means nothing anymore..
Work, careers, business skills, effort means nothing anymore. *The
money cheaters can create more "money" in a computer keystroke than
you or I could "earn" by ten thousand lifetimes of "work".


oly


I agree!


So what are we going to do about the millionaires and billionaires and
their
tools that
are trashing our economy and threatening our freedom?


JAM
--------


I say let's vote them out of Congress!!- Hide quoted text -


- Show quoted text -


I think that the old comic strip "Pogo" (Walt Kelly) quote went
something like "We have met the enemy and it is us" and that it
applies here.


Lots and lots of people get more from "the System" than they ever put
in. *My poor old paternal grandparents clearly did towards the end of
their lives. *My parents did too (but they were very successful and
they did put in quite a lot first, up-front). *I am now angling to
game "the System" for myself. *Being personally honest about what you
tell yourself about yourself is still rather important. *Sauve qui
peut, baayy-beeee.


oly
-------


For every person who is fortunate and healthy enough to "game the system",
there are two or three who pass away well before recouping what they put in.
On the other hand, there are some who work for a only couple years but incur
a disability and then collect for the rest of their lives. *I'd prefer to
stay healthy and take my chances. *Good luck to you as you enter a new phase
of you life.


Bruce- Hide quoted text -


- Show quoted text -


And if I'm being ****y, I'll take issue with your demographics and
return of retirement contributions. *Most people who have been
presently been retired for two decades got their own contributions
back within three years or less. *Presently, more recent retirees are
looking at five to seven years before they start playing on the
house's money. *There are NOT two or three people dying early for
every one that actually reaches retirement age. *NOT the case at all.
If that was true, the crap debt would not be piling up the way it is.


Maybe Timmy should mint about a dozen of them trillion dollar
platinums.


oly


Social Security does not contribute to the national debt.

JAM- Hide quoted text -

- Show quoted text -


Actually, it does. FICA taxes are collected. The tax money is then
used to purchase Treasury Bonds. Treasury Bonds are, in reality,
IOU's to Social Security. The taxes used to purchase the Treasury
Bonds are then deposited into the General Fund, which Congress loves
because they get to spend it, thus adding to the national debt. The
Social Security Act is one of the biggest Ponzi schemes ever
perpetrated on the American people.

Jerry
  #18  
Old January 11th 13, 03:21 PM posted to rec.collecting.coins
oly
external usenet poster
 
Posts: 3,111
Default Trillion Dollar Coin

On Jan 10, 6:44*pm, "bremick" wrote:
"Frank Galikanokus" *wrote in ....
oly wrote:

On Jan 8, 8:17 pm, "bremick" wrote:
"Frank Galikanokus" *wrote in ...
oly wrote:


On Jan 5, 10:11 pm, "bremick" wrote:
"Jerry Dennis" *wrote in message


...


No link to this rumor, but it was on TV on The Five last night, and
Huffington Post ran a blurb on its web site. *Seems the feds are
seriously considering issuing a platinum coin worth a trillion
dollars
to avoid the debt ceiling.


I did a little math on the deal using the current $100 Platinum
Eagle
as a base. *Using the ratios for 1 oz. PAEs, it would take 10
billion
troy oz., or just over 342,857.142 86 tons (US), for a single
trillion
dollar eagle.


Kind of makes the 2007 Canadian $1,000,000 Maple Leaf (100 kg) and
the
2012 Austrailian $1,000,000 Kangaroo (1000 kg) seem like chump
change.


Jerry
----------


Would it actually be money if it isn't intended for circulation?
I'm
thinking of those 1933 Saints here. *If so, what would that really
accomplish? *I'm sure there probably were a bunch of legal experts
involved
if the govt ever seriously considered it. *Could it be legally
"worth" a
trillion if it simply said so on it with a Congressional blessing?
Or
would
it require a trillion worth of platinum? * Sadly, this government
seems
to
be reduced to weirdness rather than common sense to reduce our debt.


I think the idea (which is just an accounting trick) would be to take
a simple one ounce platinum blank and stamp it "one trillion
dollars".


There is no need to attempt to make the intrinsic value of such a coin
anywhere close to its "face". *The Traesury Secretary would have the
very few of these coins which were required to be made up sent to some
vault in New York City or Washington D.C.


Congressional approval probably doesn't mean squat.


But there is simply no point to minting such a coin; the Federal
Reserve Bank effectively does this every day with their computers and
gee, they don't do a sum of one trillion dollars more than two or
three times per year.


In Weimar Germany in 1922-23, they didn't use any more paper to print
a million mark note than they did to print the Imperial pre-war one
hundred mark note (indeed they used a smaller price of paper).


Wrap your head around this thought: "Money" means nothing anymore.
Work, careers, business skills, effort means nothing anymore. *The
money cheaters can create more "money" in a computer keystroke than
you or I could "earn" by ten thousand lifetimes of "work".


oly


I agree!


So what are we going to do about the millionaires and billionaires and
their
tools that
are trashing our economy and threatening our freedom?


JAM
--------


I say let's vote them out of Congress!!- Hide quoted text -


- Show quoted text -


I think that the old comic strip "Pogo" (Walt Kelly) quote went
something like "We have met the enemy and it is us" and that it
applies here.


Lots and lots of people get more from "the System" than they ever put
in. *My poor old paternal grandparents clearly did towards the end of
their lives. *My parents did too (but they were very successful and
they did put in quite a lot first, up-front). *I am now angling to
game "the System" for myself. *Being personally honest about what you
tell yourself about yourself is still rather important. *Sauve qui
peut, baayy-beeee.


oly


oly


The people that are getting more from "the System" than they ever put in are
the
millionaires and billionaires and their tools that are trashing our economy
and
threatening our freedom.

JAM
----------

Some of my best friends are millionaires and billionaires. *I often ask to
borrow some of their great tools. *As far as I know, none has ever
threatened to trash our economy or threaten our freedom or eat our children.
Where do YOU live and what channel are you watching?- Hide quoted text -

- Show quoted text -


Presumably none of your friends are connected (or own stock) in the
money center banks and/or the big investment banks. Those folks have
indeed trashed the system and they are first-in-line when the bailouts
and slush monies are handed out. In today's America, being first-in-
line for the big-time government handouts is very very important.

It's amazing that the denouement hasn't happened yet, but give it
time, it will.

oly
  #19  
Old January 11th 13, 03:24 PM posted to rec.collecting.coins
oly
external usenet poster
 
Posts: 3,111
Default Trillion Dollar Coin

On Jan 10, 5:02*pm, Frank Galikanokus
wrote:
oly wrote:

On Jan 8, 9:56 pm, "bremick" wrote:
"oly" *wrote in message


....


On Jan 8, 8:17 pm, "bremick" wrote:


"Frank Galikanokus" *wrote in ...
oly wrote:


On Jan 5, 10:11 pm, "bremick" wrote:
"Jerry Dennis" *wrote in message


...


No link to this rumor, but it was on TV on The Five last night, and
Huffington Post ran a blurb on its web site. *Seems the feds are
seriously considering issuing a platinum coin worth a trillion dollars
to avoid the debt ceiling.


I did a little math on the deal using the current $100 Platinum Eagle
as a base. *Using the ratios for 1 oz. PAEs, it would take 10 billion
troy oz., or just over 342,857.142 86 tons (US), for a single trillion
dollar eagle.


Kind of makes the 2007 Canadian $1,000,000 Maple Leaf (100 kg) and the
2012 Austrailian $1,000,000 Kangaroo (1000 kg) seem like chump change.


Jerry
----------


Would it actually be money if it isn't intended for circulation? *I'm
thinking of those 1933 Saints here. *If so, what would that really
accomplish? *I'm sure there probably were a bunch of legal experts
involved
if the govt ever seriously considered it. *Could it be legally "worth"
a
trillion if it simply said so on it with a Congressional blessing? *Or
would
it require a trillion worth of platinum? * Sadly, this government
seems
to
be reduced to weirdness rather than common sense to reduce our debt.


I think the idea (which is just an accounting trick) would be to take
a simple one ounce platinum blank and stamp it "one trillion
dollars".


There is no need to attempt to make the intrinsic value of such a coin
anywhere close to its "face". *The Traesury Secretary would have the
very few of these coins which were required to be made up sent to some
vault in New York City or Washington D.C.


Congressional approval probably doesn't mean squat.


But there is simply no point to minting such a coin; the Federal
Reserve Bank effectively does this every day with their computers and
gee, they don't do a sum of one trillion dollars more than two or
three times per year.


In Weimar Germany in 1922-23, they didn't use any more paper to print
a million mark note than they did to print the Imperial pre-war one
hundred mark note (indeed they used a smaller price of paper).


Wrap your head around this thought: "Money" means nothing anymore..
Work, careers, business skills, effort means nothing anymore. *The
money cheaters can create more "money" in a computer keystroke than
you or I could "earn" by ten thousand lifetimes of "work".


oly


I agree!


So what are we going to do about the millionaires and billionaires and
their
tools that
are trashing our economy and threatening our freedom?


JAM
--------


I say let's vote them out of Congress!!- Hide quoted text -


- Show quoted text -


I think that the old comic strip "Pogo" (Walt Kelly) quote went
something like "We have met the enemy and it is us" and that it
applies here.


Lots and lots of people get more from "the System" than they ever put
in. *My poor old paternal grandparents clearly did towards the end of
their lives. *My parents did too (but they were very successful and
they did put in quite a lot first, up-front). *I am now angling to
game "the System" for myself. *Being personally honest about what you
tell yourself about yourself is still rather important. *Sauve qui
peut, baayy-beeee.


oly
-------


For every person who is fortunate and healthy enough to "game the system",
there are two or three who pass away well before recouping what they put in.
On the other hand, there are some who work for a only couple years but incur
a disability and then collect for the rest of their lives. *I'd prefer to
stay healthy and take my chances. *Good luck to you as you enter a new phase
of you life.


Bruce- Hide quoted text -


- Show quoted text -


And if I'm being ****y, I'll take issue with your demographics and
return of retirement contributions. *Most people who have been
presently been retired for two decades got their own contributions
back within three years or less. *Presently, more recent retirees are
looking at five to seven years before they start playing on the
house's money. *There are NOT two or three people dying early for
every one that actually reaches retirement age. *NOT the case at all.
If that was true, the crap debt would not be piling up the way it is.


Maybe Timmy should mint about a dozen of them trillion dollar
platinums.


oly


Social Security does not contribute to the national debt.

JAM- Hide quoted text -

- Show quoted text -


Yes, Social Security does indeed add to the debt, but it would be easy
to afford if the war spending of the last decade had never taken
place.

Yes, Social Security does indeed add to the debt, but it would be easy
to afford if the bank bailouts of the last five years had never taken
place.

oly
  #20  
Old January 11th 13, 07:21 PM posted to rec.collecting.coins
oly
external usenet poster
 
Posts: 3,111
Default Trillion Dollar Coin

On Jan 11, 8:24*am, oly wrote:
On Jan 10, 5:02*pm, Frank Galikanokus
wrote:





oly wrote:


On Jan 8, 9:56 pm, "bremick" wrote:
"oly" *wrote in message


...


On Jan 8, 8:17 pm, "bremick" wrote:


"Frank Galikanokus" *wrote in ...
oly wrote:


On Jan 5, 10:11 pm, "bremick" wrote:
"Jerry Dennis" *wrote in message


...


No link to this rumor, but it was on TV on The Five last night, and
Huffington Post ran a blurb on its web site. *Seems the feds are
seriously considering issuing a platinum coin worth a trillion dollars
to avoid the debt ceiling.


I did a little math on the deal using the current $100 Platinum Eagle
as a base. *Using the ratios for 1 oz. PAEs, it would take 10 billion
troy oz., or just over 342,857.142 86 tons (US), for a single trillion
dollar eagle.


Kind of makes the 2007 Canadian $1,000,000 Maple Leaf (100 kg) and the
2012 Austrailian $1,000,000 Kangaroo (1000 kg) seem like chump change.


Jerry
----------


Would it actually be money if it isn't intended for circulation? *I'm
thinking of those 1933 Saints here. *If so, what would that really
accomplish? *I'm sure there probably were a bunch of legal experts
involved
if the govt ever seriously considered it. *Could it be legally "worth"
a
trillion if it simply said so on it with a Congressional blessing? *Or
would
it require a trillion worth of platinum? * Sadly, this government
seems
to
be reduced to weirdness rather than common sense to reduce our debt.


I think the idea (which is just an accounting trick) would be to take
a simple one ounce platinum blank and stamp it "one trillion
dollars".


There is no need to attempt to make the intrinsic value of such a coin
anywhere close to its "face". *The Traesury Secretary would have the
very few of these coins which were required to be made up sent to some
vault in New York City or Washington D.C.


Congressional approval probably doesn't mean squat.


But there is simply no point to minting such a coin; the Federal
Reserve Bank effectively does this every day with their computers and
gee, they don't do a sum of one trillion dollars more than two or
three times per year.


In Weimar Germany in 1922-23, they didn't use any more paper to print
a million mark note than they did to print the Imperial pre-war one
hundred mark note (indeed they used a smaller price of paper).


Wrap your head around this thought: "Money" means nothing anymore.
Work, careers, business skills, effort means nothing anymore. *The
money cheaters can create more "money" in a computer keystroke than
you or I could "earn" by ten thousand lifetimes of "work".


oly


I agree!


So what are we going to do about the millionaires and billionaires and
their
tools that
are trashing our economy and threatening our freedom?


JAM
--------


I say let's vote them out of Congress!!- Hide quoted text -


- Show quoted text -


I think that the old comic strip "Pogo" (Walt Kelly) quote went
something like "We have met the enemy and it is us" and that it
applies here.


Lots and lots of people get more from "the System" than they ever put
in. *My poor old paternal grandparents clearly did towards the end of
their lives. *My parents did too (but they were very successful and
they did put in quite a lot first, up-front). *I am now angling to
game "the System" for myself. *Being personally honest about what you
tell yourself about yourself is still rather important. *Sauve qui
peut, baayy-beeee.


oly
-------


For every person who is fortunate and healthy enough to "game the system",
there are two or three who pass away well before recouping what they put in.
On the other hand, there are some who work for a only couple years but incur
a disability and then collect for the rest of their lives. *I'd prefer to
stay healthy and take my chances. *Good luck to you as you enter a new phase
of you life.


Bruce- Hide quoted text -


- Show quoted text -


And if I'm being ****y, I'll take issue with your demographics and
return of retirement contributions. *Most people who have been
presently been retired for two decades got their own contributions
back within three years or less. *Presently, more recent retirees are
looking at five to seven years before they start playing on the
house's money. *There are NOT two or three people dying early for
every one that actually reaches retirement age. *NOT the case at all.
If that was true, the crap debt would not be piling up the way it is.


Maybe Timmy should mint about a dozen of them trillion dollar
platinums.


oly


Social Security does not contribute to the national debt.


JAM- Hide quoted text -


- Show quoted text -


Yes, Social Security does indeed add to the debt, but it would be easy
to afford if the war spending of the last decade had never taken
place.

Yes, Social Security does indeed add to the debt, but it would be easy
to afford if the bank bailouts of the last five years had never taken
place.

oly- Hide quoted text -

- Show quoted text -


My, the Universe is being timely with the blogs right now:

http://brucekrasting.com/gettin-ugly/

Social Security is part of the problem, just not a big part. Other
problems are much more important, in both dollar amounts and the
underwriting of moral hazard.

oly
 




Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Trillion $ Coin suggested Some Guy[_2_] Coins 3 August 2nd 11 02:11 PM
Hysterical Two Dollar Bill and Dollar Coin video Fred Shecter Paper Money 1 April 22nd 07 08:18 PM
Bank teller tells me that dollar bill WILL be replaced by Golden Dollar coin! Fred Shecter Coins 127 August 25th 05 01:40 PM
Bank teller tells me that dollar bill WILL be replaced by Golden Dollar coin! Fred Shecter Paper Money 96 August 9th 05 01:55 PM
1 Dollar & Half Dollar London Borneo Tobacco Coin J.B.Tan Coins 0 June 26th 04 03:21 AM


All times are GMT +1. The time now is 05:59 PM.


Powered by vBulletin® Version 3.6.4
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Copyright ©2004-2024 CollectingBanter.
The comments are property of their posters.