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Re: Debt Ceiling

Unread postPosted: Mon 11 Sep 2017, 05:46:31
by Subjectivist
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.

Re: Debt Ceiling

Unread postPosted: Tue 19 Sep 2017, 13:45:11
by Revi
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 postPosted: Thu 21 Sep 2017, 08:07:31
by Revi
Here's a proposal to scrap the debt ceiling altogether:

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

Re: Debt Ceiling

Unread postPosted: Thu 21 Sep 2017, 15:03:53
by Plantagenet
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?

Cheers!

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Re: Debt Ceiling

Unread postPosted: Mon 25 Sep 2017, 08:16:01
by Revi
The Republican budget runs it up about a Trillion a year! That's even with kicking people off of insurance. They will end up putting the deficit up at least another 4 trillion, and probably more. Considering that we just had 600 billion in damage this month from the multiple hurricanes we are already in the hole. I really think we should up the debt ceiling, but be aware that this is going to end at some point, and maybe we should figure out a way to default gracefully and turn into a different place. It's like planning for the boat to sink. Good idea to have some kind of a lifeboat! Maybe establish some kind of sustainable communities now? When it goes down it's going to be a lot like Puerto Rico now. A few solar panels and some kind of a way to get water can make all the difference...