US debt

[hover11]

Yes I know this is Trini Tuner but what do you think about this:


For a country that can simply print money and survive , if this actually occurred how would it impact us and would this really clear their Chinese Debt simple as that?

Is minting a $1 trillion platinum coin the answer to the debt limit crisis?

Treasury Secretary Janet Yellen shot down the idea, calling it a "gimmick."

By

Michelle Stoddart

October 6, 2021, 3:10 PM ET

• 7 min read

[https://s]

Why the debt ceiling mattersThe debt ceiling system was passed by Congress in 1917. Burwell and Burwell Photography/U.S. Mint via AP

Could a $1 trillion platinum coin be the solution to the U.S. government's debt limit crisis?
With politicians at a standoff, some senators and other proponents, at the last minute, have renewed talk of the improbable idea.

The U.S. government is set to run out of money to pay its bills, including salaries of federal employees and to pay Social Security benefits, which the White House and experts say would have grave economic effects and could trigger a recession.

[https://s-abcnews-com]

The one trillion dollar coin is photographed in Washington, D.C.Burwell and Burwell Photography/U.S. Mint via AP

[data:image/svg+xml;charset=utf-8,%3Csvg xmlns='http%3A//www][https://s-abcnews-com]
Legislation enacted in 2001 allows the treasury to mint platinum coins of any value without congressional approval. Under that law, the coin's value could be anything, but it would have to be platinum, not gold or silver, nickel, bronze or copper, which are under Congress' control.
So, in theory, President Joe Biden could order Treasury Secretary Janet Yellen to have a coin with the value of $1 trillion be minted and deposited into the Treasury, giving the government an extra trillion dollars to cover debts and prevent default.

https://www.google.com/amp/s/abcnews.go ... d=80434078

[hover11]

Hmm

[zoom rader]

Hope you all know that the US dollar really a Ponzi scheme since they remove gold on the backing of the Dollar.

When the US is in need of money they simply issue international bonds to other countries to back their dollar.

[Hwells]

like people dont know what germany did after ww1 or they forget?

[Trinispougla]

like people dont know what germany did after ww1 or they forget?

Whatever they tried didn't work, and that was a major reason the Nazis came into office. Although to be honest,
I'm not that well versed in Germany's fiscal and monetary policy prior to WWII . When things are tough, people look for people to blame, and he blamed the Jews. And that was not even the reason. The US had recalled loans so Germany could not even pay the dents it incurred from the war . I do know they things to stimulate the economy after the war, like building transportation projects and trying to modernize power plants. By the late 20s, early 30s, Germans were desperate and that led to the rise of the Nazis and Hitler.

[MaxPower]

Jason,

Get vaccinated for crice sake.

[hover11]

Jason,

Get vaccinated for crice sake.

Max,

This is more than just vaccination

[Dizzy28]

China is not the US's largest debt holder btw. it's Japan.

[hover11]

China is not the US's largest debt holder btw. it's Japan.

I always thought is China as it's trillions they owe but I didn't know they owe Japan more, if that is the case the US will always be in debt for generations to come?

[88sins]

China is not the US's largest debt holder btw. it's Japan.

I always thought is China as it's trillions they owe but I didn't know they owe Japan more, if that is the case the US will always be in debt for generations to come?

Between China, Japan, and their own US based military defense contractors expenses, them gonna be in debt for the next 50+ years
If America were to mint a coin and use that to wipe away all their foreign debt, they will still be owing. And that's not even considering whether they got the reserves to back it (which they don't), so what's gonna prop up the value of that newly minted coin?
Nothing but good will and air and America word to their creditors that it worth something.

Let them go ahead, lewwe see what happens.

[FrankChag]

Bloody monetarists and quantitative easing...
But now uncle sam's in the corner.. (as opposed to the working joe)

Just goes to show how savage the fascist republicans are, that the dems have to pull out minting a platinum $1T coin loophole to save themselves, and prolly the rest of the world from financial destabilization .

[Ben_spanna]

If China were to completely break ties with the US and stop being their sweat factories for thousands of US registered companies i wonder what would happen...

[timelapse]

:idea:

like people dont know what germany did after ww1 or they forget?

Whatever they tried didn't work, and that was a major reason the Nazis came into office. Although to be honest,
I'm not that well versed in Germany's fiscal and monetary policy prior to WWII . When things are tough, people look for people to blame, and he blamed the Jews. And that was not even the reason. The US had recalled loans so Germany could not even pay the dents it incurred from the war . I do know they things to stimulate the economy after the war, like building transportation projects and trying to modernize power plants. By the late 20s, early 30s, Germans were desperate and that led to the rise of the Nazis and Hitler.

The Rothschild family (/ˈrɒθstʃaɪld/) is a wealthy Jewish family originally from Frankfurt that rose to prominence with Mayer Amschel Rothschild (1744–1812), a court factor to the German Landgraves of Hesse-Kassel in the Free City of Frankfurt, Holy Roman Empire, who established his banking business in the 1760s.

They firetruck the financial industry wherever they went, which is almost every country in the world,ours included.Hitler wasn't entirely wrong.They are known for funding wars

[zoom rader]

:idea:

like people dont know what germany did after ww1 or they forget?

Whatever they tried didn't work, and that was a major reason the Nazis came into office. Although to be honest,
I'm not that well versed in Germany's fiscal and monetary policy prior to WWII . When things are tough, people look for people to blame, and he blamed the Jews. And that was not even the reason. The US had recalled loans so Germany could not even pay the dents it incurred from the war . I do know they things to stimulate the economy after the war, like building transportation projects and trying to modernize power plants. By the late 20s, early 30s, Germans were desperate and that led to the rise of the Nazis and Hitler.

The Rothschild family (/ˈrɒθstʃaɪld/) is a wealthy Jewish family originally from Frankfurt that rose to prominence with Mayer Amschel Rothschild (1744–1812), a court factor to the German Landgraves of Hesse-Kassel in the Free City of Frankfurt, Holy Roman Empire, who established his banking business in the 1760s.

They firetruck the financial industry wherever they went, which is almost every country in the world,ours included.Hitler wasn't entirely wrong.They are known for funding wars

They were also funding slavery

[Dizzy28]

If China were to completely break ties with the US and stop being their sweat factories for thousands of US registered companies i wonder what would happen...

The US is China's largest export partner and they account for 17.5% of China's exports
The next highest sovereign nation is Japan at 5.5%. of exports (Hong Kong is 2nd but they are not a country)

China would suffer and suffer heavily if they break ties with the US.

[Penguin]

If China were to completely break ties with the US and stop being their sweat factories for thousands of US registered companies i wonder what would happen...

The US is China's largest export partner and they account for 17.5% of China's exports
The next highest sovereign nation is Japan at 5.5%. of exports (Hong Kong is 2nd but they are not a country)

China would suffer and suffer heavily if they break ties with the US.

But here be out. China is expanding its network of influence all across Asia, Africa, Latin American and Eastern Europe.

They know the US will eventually cut ties to China. They'll still make money off them as China's factories will simply export to other countries who will in turn export to the US.

But a China USA cold war is definitely brewing and America might "lose" big time.

Russia is a wild card in this as they might play both sides against each other and reap the benefits.

[MaxPower]

:idea:

like people dont know what germany did after ww1 or they forget?

Whatever they tried didn't work, and that was a major reason the Nazis came into office. Although to be honest,
I'm not that well versed in Germany's fiscal and monetary policy prior to WWII . When things are tough, people look for people to blame, and he blamed the Jews. And that was not even the reason. The US had recalled loans so Germany could not even pay the dents it incurred from the war . I do know they things to stimulate the economy after the war, like building transportation projects and trying to modernize power plants. By the late 20s, early 30s, Germans were desperate and that led to the rise of the Nazis and Hitler.

The Rothschild family (/ˈrɒθstʃaɪld/) is a wealthy Jewish family originally from Frankfurt that rose to prominence with Mayer Amschel Rothschild (1744–1812), a court factor to the German Landgraves of Hesse-Kassel in the Free City of Frankfurt, Holy Roman Empire, who established his banking business in the 1760s.

They firetruck the financial industry wherever they went, which is almost every country in the world,ours included.Hitler wasn't entirely wrong.They are known for funding wars

Jews???

[timelapse]

:idea:

like people dont know what germany did after ww1 or they forget?

Whatever they tried didn't work, and that was a major reason the Nazis came into office. Although to be honest,
I'm not that well versed in Germany's fiscal and monetary policy prior to WWII . When things are tough, people look for people to blame, and he blamed the Jews. And that was not even the reason. The US had recalled loans so Germany could not even pay the dents it incurred from the war . I do know they things to stimulate the economy after the war, like building transportation projects and trying to modernize power plants. By the late 20s, early 30s, Germans were desperate and that led to the rise of the Nazis and Hitler.

The Rothschild family (/ˈrɒθstʃaɪld/) is a wealthy Jewish family originally from Frankfurt that rose to prominence with Mayer Amschel Rothschild (1744–1812), a court factor to the German Landgraves of Hesse-Kassel in the Free City of Frankfurt, Holy Roman Empire, who established his banking business in the 1760s.

They firetruck the financial industry wherever they went, which is almost every country in the world,ours included.Hitler wasn't entirely wrong.They are known for funding wars

Jews???

Yessir

[zoom rader]

:idea:

like people dont know what germany did after ww1 or they forget?

Whatever they tried didn't work, and that was a major reason the Nazis came into office. Although to be honest,
I'm not that well versed in Germany's fiscal and monetary policy prior to WWII . When things are tough, people look for people to blame, and he blamed the Jews. And that was not even the reason. The US had recalled loans so Germany could not even pay the dents it incurred from the war . I do know they things to stimulate the economy after the war, like building transportation projects and trying to modernize power plants. By the late 20s, early 30s, Germans were desperate and that led to the rise of the Nazis and Hitler.

The Rothschild family (/ˈrɒθstʃaɪld/) is a wealthy Jewish family originally from Frankfurt that rose to prominence with Mayer Amschel Rothschild (1744–1812), a court factor to the German Landgraves of Hesse-Kassel in the Free City of Frankfurt, Holy Roman Empire, who established his banking business in the 1760s.

They firetruck the financial industry wherever they went, which is almost every country in the world,ours included.Hitler wasn't entirely wrong.They are known for funding wars

Jews???

Yessir

Max does not understand these fake Jews

[dogg]

American problems.

My life became much simpler a decade or so ago when I stopped paying attention to irrelevant murikan news.

Waste of my time.

People in TT falling for murican propoganda by fawning over murican nonsense.

[Dizzy28]

American problems.

My life became much simpler a decade or so ago when I stopped paying attention to irrelevant murikan news.

Waste of my time.

People in TT falling for murican propoganda by fawning over murican nonsense.

The fact that you don't realize that the TT$ is pegging to the US which means what happens there is very relevant here is frightening.

[dogg]

American problems.

My life became much simpler a decade or so ago when I stopped paying attention to irrelevant murikan news.

Waste of my time.

People in TT falling for murican propoganda by fawning over murican nonsense.

The fact that you don't realize that the TT$ is pegging to the US which means what happens there is very relevant here is frightening.

Good on you for figuring out that bit of common knowledge.

Since this info is new to you, you should consider, like I and others do, ensure that the majority of your savings/ retirement funds are in the said US currency.

[Dizzy28]

American problems.

My life became much simpler a decade or so ago when I stopped paying attention to irrelevant murikan news.

Waste of my time.

People in TT falling for murican propoganda by fawning over murican nonsense.

The fact that you don't realize that the TT$ is pegging to the US which means what happens there is very relevant here is frightening.

Good on you for figuring out that bit of common knowledge.

Since this info is new to you, you should consider, like I and others do, ensure that the majority of your savings/ retirement funds are in the said US currency.

I have diversified savings. And in the aftermath of 2008's financial meltdown the US denominated one went from a 6% interest yield to a less than 1% one. Makes knowing what is happening is Murica all the more relevant.
Also ensuring that you do not have all your eggs in a US currency basket all the more important.