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#11
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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 |
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#12
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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
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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
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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
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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
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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
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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
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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 |
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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 |
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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 |
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