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$1 Trillion Dollar Coin
There is a semi-serious proposal in DC to mint a single $1 Trillion dollar platinum coin and deposit it in the Federal Reserve. Why? If Congress doesn't raise the debt ceiling, then spending would go right on using the trillion dollars just created. Heck, why not mint 30 of the coins and use them to wipe out the national debt? Not as outlandish an idea as it sounds. There is only about $1.7 trillion actual US dollars in existence now. All the other money, including the pay checks we get, and what we use to buy groceries and gas, doesn't actually exist at all. It is only a promise based on nothing.
Comments
got that right money is just backed by uncle Sam saying its good ( when the gold standard was dropped it became because we say so ) I would wager they really have no clue as to much money is actual out there just a good guess just like ammo in the hands of American's ... ahhh a lot
If they do it then everyone will see it's a gimmick and it will increase the coming of a money collapse, The Federal Reserve has emergency powers to keep the system intact for the big players but common distributions for Health and welfare will suffer for the common people.
I suspect the time will be right to usher in the cashless society during the chaos to further enslave we the people with a new banking system where all transactions are tracked and recorded for prosperity.
Bank robbers and drug dealers and criminals are going to have a hard time making a living is the only good thing that will come out of it.
serf
the size of a quarter with 1T stamped on it with creepy joe face on it
About 1.5 per cent to cover debt 98.5 per cent folks won't see anything
Cashless society is closer than a person might think. I very recently went to a pro football game, no cash for anything accepted. Asked the beer people and they really didn't like it.
Nothing more than govt. tracking
The monetary system we have now, and have had, since doing away with gold and silver backing for the US dollar, is simply a gimmick. There is absolutely nothing backing the so-called dollars in your paycheck. Nothing but a politician's promise.
every congress critter that refuses to close our borders to millions that want to get in here and draw welfare and them that vote more
spending should be run out of DC like a whipped dog
I have been collecting coins all my life....gotta get one of those....😜
As said above a gimmick and a likely disaster..
copper blank with palladium jacket symbalic junk
Biden just said he is going to get his 3.5 trillion dollar bill through and new taxes are going to pay for it all and the Republicans had their chance under Trump to reel in the deficit along with Bush for eight years!
Also, Congress passing The Financial Services Modernization Act of 1999! Was a joke on Us,It Was a joint vote for both political parties saying yes do it!
We have been sold out with funding endless wars and welfare giveaways to buy votes and cut taxes for corporations,
Soon we will all be broke under the Federal Reserve Bank and it's nine so called owners. You will rent everything and will own nothing! The internet of all things will be your master of everything you do and you will be tracked everywhere you go.
serf
The Banking Act of 1933 (Glass-Steagall) had set up a wall of separation between certain sectors of the financial services industry. These restrictions were a response to the perception that commercial and investment banking had become too intertwined leading up to the 1929 stock market crash—that banks had taken undue risk with depositors’ savings in the financial markets or were promoting the securities they underwrote to their customers, leading to conflicts of interest.
However, Glass-Steagall contained language that made some financial integration possible. Most notable was Section 20 of the law, which separated commercial and investment banking. The law prohibited bank affiliation with firms that were “engaged principally” in underwriting and dealing securities. This made it possible for bank holding companies to create subsidiaries or acquire firms involved in some underwriting or dealing, as long as most of their activities were otherwise permissible. The first of these Section 20 subsidiaries was approved by the Fed in 1987, and by 2000 there were fifty-one nationwide.