The Truth About The Debt Ceiling and TRILLION Dollar Coin

submitted by Noam_Chomsky from youtube.com

all 5 comments
sorted by:
top
newinsightfulfun

[–]MagicMike 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (4 children)

I’ve read that it’s actually illegal to issue such a coin, provided the SCOTUS sticks with the mainstream meanings of bullion and proof coinage. It can’t be a bullion coin because it would literally have to have a trillion dollars’ worth of platinum in it. It can’t be a proof coin because a proof coin is legally a collector item and not meant for circulation.

[–][deleted] 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (2 children)

fiat money is all made up so why not make a trillion dollar coin

[–]MagicMike 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

Gold used to be money and oddly, debt is now money. The Treasury creates debt and the Fed accepts the debt and credits the Treasury with money. The trouble is that eventually all new money has to be used to pay interest on previous debt. It’s called a Minsky Moment and is scheduled to hit in 2024. THATS when the Greatest Depression begins.

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

cancel odious debt

just don't repay the rothschilds, fuck em

[–]Noam_Chomsky[S] 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (0 children)

It probably is illegal.

Killing the elderly in hospitals, and nursing homes?
Also, illegal.

I'm sure they'll pass the debt ceiling, cause the FED is already pumping tens of billions of dollars a day into Wall St.

Unless, the Republicans want to get the blame for the imminent global depression.
They probably don't want that.