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girl gone mad (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 05:49 PM Original message |
Minting the $1 Trillion platinum coin would NOT be inflationary. |
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amborin (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 05:50 PM Response to Original message |
1. K&R |
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steve2470 (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 05:55 PM Response to Original message |
2. The other concern is the platinum/precious metals market. Can you address this, please ? |
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JVS (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 06:03 PM Response to Reply #2 |
4. The effect on the precious metals market is no different than any individual buying an oz or so of.. |
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Egalitariat (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 06:08 PM Response to Reply #2 |
6. They could use about $100 worth of platinum to create a coin with a $1 Trillion face value |
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Ruby the Liberal (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 06:35 PM Response to Reply #2 |
14. No effect. This is coinage, not volume/weight. |
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OrwellwasRight (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 06:56 PM Response to Reply #14 |
23. I heard that there are standards for the vaue of the coin |
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Ruby the Liberal (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 07:09 PM Response to Reply #23 |
25. I think this is why the requirement for platinum was added |
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dkf (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 05:55 PM Response to Original message |
3. How does that get any of the bills paid? |
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girl gone mad (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 06:06 PM Response to Reply #3 |
5. When a bond is retired/redeemed, the debt is removed from the books. |
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dkf (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 06:14 PM Response to Reply #5 |
11. Why stop at $1 trillion? |
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Zebedeo (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 06:37 PM Response to Reply #11 |
15. Why stop at the entire amount ($14T)? |
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dkf (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 06:48 PM Response to Reply #15 |
20. The argument is if you use it to retire current debt you cause no inflation. |
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girl gone mad (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 06:48 PM Response to Reply #15 |
21. It looks like you answered your own question. |
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drm604 (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 06:08 PM Response to Reply #3 |
7. When we retire $1T worth of debt |
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woolldog (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 06:08 PM Response to Original message |
8. Question |
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drm604 (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 06:10 PM Response to Reply #8 |
9. No. Retiring the bonds would put us $1T below the current ceiling, |
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woolldog (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 06:14 PM Response to Reply #9 |
10. I saw your repsonse to the other poster after I posted my question. |
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woolldog (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 06:17 PM Response to Reply #9 |
12. one more question: |
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drm604 (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 06:30 PM Response to Reply #12 |
13. Good question. |
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Zebedeo (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 06:38 PM Response to Original message |
16. Great |
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BzaDem (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 06:38 PM Response to Original message |
17. I agree with you for the most part. However, there is a limit to this, and that is the amount of |
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drm604 (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 06:46 PM Response to Reply #17 |
18. Dupe. Sorry. |
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drm604 (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 06:48 PM Response to Reply #17 |
19. I think you may be misunderstanding the idea. |
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BzaDem (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 07:04 PM Response to Reply #19 |
24. The problem is that if we buy the bonds from any non-Fed entity, that is injecting a huge amount of |
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girl gone mad (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 07:18 PM Response to Reply #24 |
27. Money supply would be unchanged. |
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BzaDem (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 07:55 PM Response to Reply #27 |
29. If the Treasury uses the trillion dollar coin to buy bonds from private markets, it will increase |
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girl gone mad (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 09:46 PM Response to Reply #29 |
33. It has no impact on money supply. |
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BzaDem (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 11:08 PM Response to Reply #33 |
34. Your entire theory relies on bonds being equivalent to cash, and that is ONLY true in a liquidity |
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girl gone mad (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 11:36 PM Response to Reply #34 |
36. No, it doesn't and no it isn't |
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drm604 (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 07:51 PM Response to Reply #24 |
28. I think buying them from the Fed is the better idea. |
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BzaDem (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 07:56 PM Response to Reply #28 |
30. Exactly. It would result in QE/QE2 staying in the economy, which is likely what the Fed was going to |
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girl gone mad (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 08:05 PM Response to Reply #28 |
31. That's another option.. |
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BzaDem (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 11:10 PM Response to Reply #31 |
35. Yes, exactly. Buying them from the Fed would truly have no effect, and the Fed would be FORCED to |
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OrwellwasRight (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 06:52 PM Response to Original message |
22. PS Inflation is good for people who owe money (i.e., US) . . . |
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iris27 (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 07:13 PM Response to Reply #22 |
26. That's great in theory, however, it's not like everyone's wages |
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OrwellwasRight (1000+ posts) Send PM | Profile | Ignore | Sun Jul-31-11 08:07 PM Response to Reply #26 |
32. It's not theory, it's economic facts. |
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