Is there a legal reason not to use the “Trillion Dollar Coin” idea? Is it bad policy? I have no real opinion.

[Seymour Flops]

What about minting a thousand One Billion Dollar coins and using them to pay China the interest on their treasury bonds? That’s about 30 Billion per year, if I understand correctly.

I know they could immediately buy a billion dollars worth of more bonds, or farmland, or whatever, but they can do that now, when we pay them in regular fiat.

Would that be legal? Would it be wise? Would it be the lessor of two evils if the other evil is defaulting?

 

[CrusaderFrank]

What about minting a thousand One Billion Dollar coins and using them to pay China the interest on their treasury bonds? That’s about 30 Billion per year, if I understand correctly.

I know they could immediately buy a billion dollars worth of more bonds, or farmland, or whatever, but they can do that now, when we pay them in regular fiat.

Would that be legal? Would it be wise? Would it be the lessor of two evils if the other evil is defaulting?

Or tell the Biden Body Double to accept the House budget and STOP SPENDING SO MUCH MONEY!!!

 

[marvin martian]

What about minting a thousand One Billion Dollar coins and using them to pay China the interest on their treasury bonds? That’s about 30 Billion per year, if I understand correctly.

I know they could immediately buy a billion dollars worth of more bonds, or farmland, or whatever, but they can do that now, when we pay them in regular fiat.

Would that be legal? Would it be wise? Would it be the lessor of two evils if the other evil is defaulting?

Biden is just going to give them to Zelensky (after he skims his 10% off, of course).

 

[1srelluc]

If the treasury mint's a platinum coin then the platinum I'm sitting on will be worth a fortune.

By minting the coin they set the price for the metal.....In Zimbabwe Bucks.

 

[ReinyDays]

What about minting a thousand One Billion Dollar coins ...

That's only a trillion dollars ... one year's military budget ... did you mean a thousand One Trillion Dollar coins? ... that's inflationary ... turn the military back over to the states and we can make budget ... let Kansas decide if she wants troops in Europe ....

 

[Dekster]

What about minting a thousand One Billion Dollar coins and using them to pay China the interest on their treasury bonds? That’s about 30 Billion per year, if I understand correctly.

I know they could immediately buy a billion dollars worth of more bonds, or farmland, or whatever, but they can do that now, when we pay them in regular fiat.

Would that be legal? Would it be wise? Would it be the lessor of two evils if the other evil is defaulting?

No it would not be the lessor or two evils because it would create hyper inflation and drive the price of imports through the roof. We would end up for different reasons into a similar economy as Venezuela's. Now, in theory we could. Monetizing that much debt abruptly and so obviously would have huge blowback beginning with a massive dump on the market of foreign held treasuries. We are better off raising the debt ceiling. That way, we are monetizing debt more slowly over time to give the markets time to evolve without the shock of what you proposed.

 

[Harpy Eagle]

What about minting a thousand One Billion Dollar coins and using them to pay China the interest on their treasury bonds? That’s about 30 Billion per year, if I understand correctly.

I know they could immediately buy a billion dollars worth of more bonds, or farmland, or whatever, but they can do that now, when we pay them in regular fiat.

Would that be legal? Would it be wise? Would it be the lessor of two evils if the other evil is defaulting?

Using the 14th Amendment and challenging Congress's power to not pay its bills is the better way to go.

Let SCOTUS decide.

 

[Harpy Eagle]

Or tell the Biden Body Double to accept the House budget and STOP SPENDING SO MUCH MONEY!!!

Where were you in 2017 and 2018 and 2019 and 2020?

 

[Seymour Flops]

Using the 14th Amendment and challenging Congress's power to not pay its bills is the better way to go.

Let SCOTUS decide.

I think everyone would love that idea. It would be a way out for all concerned, and a way to perpetuate this spend, spend, spend till it finally comes to an end plan.

I'm not sure how it would work, though. What does Biden do? How does he invoke the 14th Amendment and how does he get the money?

 

[Harpy Eagle]

I think everyone would love that idea. It would be a way out for all concerned, and a way to perpetuate this spend, spend, spend till it finally comes to an end plan.

I'm not sure how it would work, though. What does Biden do? How does he invoke the 14th Amendment and how does he get the money?

The money has already been allocated by Congress, it just happens to move us over our debt limit to spend it. The debt limit is a made up thing that has been moved like 90 times. Why not just ignore it and keep paying the bills?

 

[Seymour Flops]

The money has already been allocated by Congress, it just happens to move us over our debt limit to spend it. The debt limit is a made up thing that has been moved like 90 times. Why not just ignore it and keep paying the bills?

If I remember right, it is Congress that has the power to borrow money, not the president. I guess the president could argue that Congress gave implied permission when they allocated the money to be spent.

Sooner or later, or should I say sooner or much sooner, we're not going to be able to borrow enough to pay the interest. We will end up monetizing it quickly or slowly.

 

[CrusaderFrank]

Where were you in 2017 and 2018 and 2019 and 2020?

Both Parties sold us out! Republicans suck as bad as the democrats! They’re both burning the country down around us

 

[Harpy Eagle]

Both Parties sold us out! Republicans suck as bad as the democrats! They’re both burning the country down around us

This we can agree on. Yet I am betting in 2024 you will be voting for one of them.

 

[CrusaderFrank]

This we can agree on. Yet I am betting in 2024 you will be voting for one of them.

I’m writing in Calvin Coolidge