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Debt Ceiling

Discussions about the economic and financial ramifications of PEAK OIL

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Re: Debt Ceiling

Unread postby Subjectivist » Mon 11 Sep 2017, 05:46:31

ohanian wrote:Why don't Trump just print 20 coins at $1 trillion dollar a coin and deposit it at the Federal Reserve?

Debt? What debt? Trump can just pay back $20 trillions worth of debt with twenty coins

http://www.telegraph.co.uk/finance/financialcrisis/9784898/US-seriously-considering-1-trillion-coin-to-pay-off-debt.html


Because it is a silly attempt at an accounting trick. Everyones knows the relative value of platinum is a microscopic fraction of a trillion dollars an ounce. Instead of pkatinum just printing 1 paper bill labled 20 Trillion would be just as (in)effective, and it would certainly be a lot more honest.

The better scheme would be to claim federal lands have a value of $20,000/acre, create transfer titles for a few million acres that could be put on the books as saleable property, then deposit those title certificates with the Fed. People will easily accept that property along the interstate passing through a federal forest is worth $20,000/acre because developers would love to buy the strip on land close to the highway.
II Chronicles 7:14 if my people, who are called by my name, will humble themselves and pray and seek my face and turn from their wicked ways, then I will hear from heaven, and I will forgive their sin and will heal their land.
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Re: Debt Ceiling

Unread postby Revi » Tue 19 Sep 2017, 13:45:11

We kicked the can down the road to the middle of December. Anyone know what will happen then? Will we have a huge battle that ends up being the Grinch that stole Christmas? What do you think? Will they pass raising the debt ceiling?
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Re: Debt Ceiling

Unread postby Revi » Thu 21 Sep 2017, 08:07:31

Here's a proposal to scrap the debt ceiling altogether:

http://thehill.com/blogs/floor-action/s ... bt-ceiling
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Re: Debt Ceiling

Unread postby Plantagenet » Thu 21 Sep 2017, 15:03:53

Revi wrote:Here's a proposal to scrap the debt ceiling altogether:

http://thehill.com/blogs/floor-action/s ... bt-ceiling


Sure. Why not run the national debt up even faster?

Obama ran us up to 20 trillion in debt---why shouldn't Trump add another 20 trillion in debt?

What could possibly go wrong?

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