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Topic: don't worry guys US debt ceiling problem solved!

http://pragcap.com/lets-end-this-debt-ceiling-debate-with-a-1-oz-1t-coin

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Re: don't worry guys US debt ceiling problem solved!

"Here's your 12 trillion dollar coin to pay our debt off!  Don't spend it all in one place!"

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Re: don't worry guys US debt ceiling problem solved!

been saying that for years

1. buy 1 trillion euro
2. link the dollar to euro at 20 to 1
3. pay off us debt with eurodollar, letem have change as a tip
4. switch back

worked for hitler

The core joke of Hitchhiker's Guide to the Galaxy is that of course no civilization would develop personal computers with instant remote database recovery, and then waste this technology to find good drinks.
Steve Jobs has ruined this joke.

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Re: don't worry guys US debt ceiling problem solved!

Kennedy tried that ...
Don't make the FED angry.

The inmates are running the asylum

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5 Reply by [Stupid] Arachnophobia (edited by [Stupid] Arachnophobia 16-Jul-2011 13:27:30)

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Re: don't worry guys US debt ceiling problem solved!

1 trillion dollar coin? Nobody could change that... Essentially worthless. Its basically the same as telling the banks that their money is gone and that you're not gonna repay them... and give them some coin as "medal of honor" or whatever?

If you make smaller coins, like "1 billion"-coins, you'll get some serious inflation over there... essentially screwing over those who dont own much property.

Yes, you're special. Just like everyone else.

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Re: don't worry guys US debt ceiling problem solved!

the $1 trillion gold coin should be five inches across, be 1mm 24k gold foil enclosing 5 grams of Hershey's chocolate

that way some european female will eat it, merkel or QEII

The core joke of Hitchhiker's Guide to the Galaxy is that of course no civilization would develop personal computers with instant remote database recovery, and then waste this technology to find good drinks.
Steve Jobs has ruined this joke.

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Re: don't worry guys US debt ceiling problem solved!

No, more U.S. treasury bonds will be issued, and that's how the government gains most if it's money besides that of printing more money.

If your buying a Bond, or U.S. Treasury Bill....your buying an I.O.U. from the government who will say you will earn interest and you shall receive, with interest, in 20 years.

So in essence your helping fuel the "Government Borrowing", except it's borrowing money from you.

I highly suggest that none of you buy Bonds...or Stocks.  STocks are the same thing, just corporate america borrowing money from the public sector.

=^o.o^= When I'm cute I can be cute.  And when I'm mean, I can be very very mean.  I'm a cat.  Expect me to be fickle.

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