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What's the exchange rate to the Triganic Pu?

8 Ningis.
We live in Groundhog Day: The Country.   Just repost the same news article once a year or so, only have to find/replace the names. >

At least ... I got you babe. >

Watch that first step…it’s a doozy >

This idea was first proposed in 2010 and more seriously considered in 2011/2012. The Treasury Department and Federal Reserve released a statement that stated, "Neither the Treasury Department nor the Federal Reserve believes that the law can or should be used to facilitate the production of platinum coins for the purpose of avoiding an increase in the debt limit."  
Including the Federal Reserve in significant because for the idea to work, the Federal Reserve would have to treat it as a legal way for the Treasury Department to create currency. If they don't believe it's legal, they would not credit the Treasury Department's deposit, making the coin worthless.   
For what it's worth, the provision for the Treasury Department to be able to issue platinum coins for any value was part of the a 1997 Omnibus bill, and written by Republican congressmen Mike Castle. He wanted to help coin collectors who couldn't afford the platinum coins at the time, so he wrote the part of the law that allows for the coins to be of any value, not thinking through with what that might entail. >


Including the Federal Reserve in significant because for the idea to work, the Federal Reserve would have to treat it as a legal way for the Treasury Department to create currency. If they don't believe it's legal, they would not credit the Treasury Department's deposit, making the coin worthless.

So the Fed legally doesnt have that power. The Treasury has power to mint a coin for any face value it likes & the Fed is required by law to accept that coin at face value provided it came from the Treasury. They just dont like the idea because it will destroy confidence in the dollar. >

Serious question...why would it destroy confidence in the dollar more than issuing treasury bonds, or doing quantitative easing? >

Treasury bonds are when the government takes on debt. The dollar is still worth the same we're just spending money that we borrowed. Quantitative easing is effectively sending money the other way. The government buys securities allowing banks to convert some of their assets into cash. In both cases, we're exchanging dollars for something of value. Minting a trillion dollar coin is effectively creating money from nothing. This reduces the value of the dollar. >

Yes but on a temporary basis. Money is printed to buy the securities and removed later when the securities are bought back. It does increase inflation somewhat by increasing the money supply, but we get market liquidity in exchange. That isn't to say that QE is a good thing or we should be doing it, but it isn't nearly as dangerous as printing money to pay off debts. >

We can live with the fear of a GOP-precipitated debt default for the next year if we want, in the hopes that cooler heads will prevail. Or, the president can end the danger once and for all and mint a magic trillion-dollar platinum coin, writes Jason Linkins. >

I still don't understand how the platinum coin is supposed to magically solve the problem...and I read the article. >

The treasury now has an additional trillion to satisfy debts. >

Ok… so one trillion down, 30 to go. >

It’s not about paying off the debt completely, which you actually really don’t want to do (there’s a certain amount of power you get and give when you lend or borrow money as a nation from other nations…they tend to really want their money) it’s about giving ourselves another year or so worth of gap. It’s like paying down your credit card so you can spend more on the card except instead of your limit being set by anything sensible like your income and credit score (which I realize is mostly non-sense) it’s just a number that exists for one side of the political isle to kick and scream about until they say “actually there’s no reason we can’t spend more” again >

what is the saying? if you owe the bank $100, it is your problem; if you owe the bank $1,000,000, it is the bank’s problem >

You mint the coin, put Trump’s orange visage on it and watch the Republicans twist themselves into knots to try to have it both ways >

Ugh.  Having his name attached to the Space Force is ridiculous enough. >

If we have to go wacky, let's at least make the coin of out of a wacky rare metal like rhodium or terbium. >

Make it out of gallium. It'll melt when you pick it up. >

Nah, save that one for Zimbabwe. >

Why not mint a 100 Trillion dollar coin and not worry about this BS again? >

Nobody can make change for a $100 Trillion coin. >

What's the exchange rate to the Triganic Pu?