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Offline Pack93z  
#1 Posted : Friday, January 4, 2013 2:51:58 PM(UTC)
Pack93z

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The poor damn can that is our national debt is way beyond dented... why screw around with the small denominations of money.. go big. Just continue to watch the value of the dollar plummet.

I really need to stop watching and reading this train wreck of a government..

Quote:
Can a $1 trillion coin end debt ceiling crisis?

What if the threat of a voluntary default by the United States could be erased by simply turning one tiny scrap of platinum into a coin?

That's right. No debt ceiling problem. No bickering in Congress. No market jitters. The only thing needed is for the Treasury Department to mint a platinum coin with a face value of $1 trillion.
Of course, this is not going to happen. Creating money out of thin air is hardly a solution. It could lead to even more concerns from those worried about inflation. Critics of the Federal Reserve's monetary easing programs would likely be apoplectic if the Treasury Department trumped Ben Bernanke's "helicopter drop" by minting a trillion more new dollars.

The influential New York Times columnist Paul Krugman has already dubbed the talk a "gimmick." But here is why some people think this bizarre strategy could work.

Last week, Treasury Secretary Tim Geithner made it official: Federal borrowing has reached the $16.394 trillion debt ceiling.

Treasury, which runs the government's debt-issuance operation, is busy creating about $200 billion of headroom by employing what it calls "extraordinary measures." That should cover about two months' worth of borrowing.

When the two months expire, Treasury will no longer be able to pay the country's bills -- that is, it won't be able to borrow more money to pay for spending already authorized by Congress.

If Congress does not act to raise the debt ceiling, the U.S. will default on its debts. Not good. But this is where the platinum coin comes in. Normally, the Federal Reserve is charged with issuing currency. But U.S. law, specifically 31 USC § 5112, also grants Treasury permission to "mint and issue platinum bullion coins and proof platinum coins."

This section of law was meant to allow for the printing of commemorative coins and the like. But the Treasury Secretary has the authority to mint these coins in any denomination he or she sees fit.
I think when there's enough will and aggression, there's no shortage of talent either.

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Offline Porforis  
#2 Posted : Friday, January 4, 2013 3:24:47 PM(UTC)
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I just read this article on CNN and I think it destroyed a quarter of my braincells. Ah well, at least I have 5 left.
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Offline DakotaT  
#3 Posted : Friday, January 4, 2013 3:25:35 PM(UTC)
DakotaT

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Do you people actually sit around and worry about this stuff? Our country has hardley scratched the surface of its natural resource, we currently are able to raise enough food to feed the world, we have state of the art technology in industry and war. Every day a 2 mile long train of coal runs through Bismarck, then later in the day a 3 mile long train full of oil runs through Bismarck, then another train of various grains goes through. Yeah, I don't sit around biting my finger nails over this sh*t, but I guess it's something to argue about, so carry on!
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Offline Pack93z  
#4 Posted : Friday, January 4, 2013 3:30:20 PM(UTC)
Pack93z

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Oh... it is not paramount type of worry.. just like the "fiscal cliff"... it is the angles the press pushes and some of their reasoning that boggles ones mind.

But, yes I do take interest in this as I have children and hopefully grandchildren that I am taking an interest in it. I worry not about my lifetime.. the future, yeah I take concern.

And no... I don't wish to argue about it.. some probably will, but others takes often get me to think about angles and affects that I might overlook for myself.
I think when there's enough will and aggression, there's no shortage of talent either.

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Offline DakotaT  
#5 Posted : Friday, January 4, 2013 3:51:29 PM(UTC)
DakotaT

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Well my man, I'm old enough to recall having a national debt under Saint Reagan and Bush Senior that we would never ever pay off. Clinton raised taxes and by the end of his second term we had a budget surplus until Curious George then cut taxes and put 6 years of war on a credit card. Might I add, the stock market was making a lot of money for everyone under Clinton.

This time around though, they shouldn't stop at just raising taxes, they should go after all the untaxed American money sitting abroad. First you run an amnesty program to give the scumbag treasoners a chance to repatriate their funds - then go sieze the funds abroad and either incarecerate the tax cheats or deport them.
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thanks Post received 1 applause.
Since69 on 1/7/2013(UTC)
Offline Wade  
#6 Posted : Friday, January 4, 2013 7:27:39 PM(UTC)
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Bah.

All they need to do is go on Amazon/e-Bay and buy a few dozen of these, get one of those hand stamps made for ten bucks that says "This is legal tender of the United States of America," and use the second on the first. Why waste all that metal on coins?

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Pinheadedness knows no bounds.

And do not be conformed to this world, but be transformed by the renewing of your mind, that you may prove what is that good and acceptable and perfect will of God.
Romans 12:2 (NKJV)
Offline DakotaT  
#7 Posted : Friday, January 4, 2013 7:38:17 PM(UTC)
DakotaT

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Originally Posted by: Wade Go to Quoted Post
Bah.

All they need to do is go on Amazon/e-Bay and buy a few dozen of these, get one of those hand stamps made for ten bucks that says "This is legal tender of the United States of America," and use the second on the first. Why waste all that metal on coins?

UserPostedImage

Pinheadedness knows no bounds.



Speaking of Pinheads, Kingpinhead O'reilly just pissed off the Asian Americans by saying he couldn't understand why so many of them are liberals because they are such hard working indiginent people. I guess Republicans are the only Americans that can be considered "hard working". Uffda Bill, you can be a dumbass.
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Offline Wade  
#8 Posted : Friday, January 4, 2013 7:42:29 PM(UTC)
Wade

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I've never been a fan of any Clinton other than George, but America would be far, far better off with Bill Clinton in charge than the current group of clowns.

The difference between Clinton and Obama (and, for that matter, between Clinton and the younger Bush) is that Clinton, despite his unfailing iberal rhetoric, spent more time getting blowjobs from Monica and very little of it making it harder and harder for the productive sectors of the economy to do their thing and build the tax base. Clinton was a cynic, not a Robin Hood wannabe. He was a talker, not a builder of regulatory piles.

On the other hand, Obama, and you it seems, actually believes you can pay off the national debt by redistributing wealth from rich to poor or some such. He fails to understand that the real hope of America lies with you and other productive people out there. Not with transfer-of-wealth schemes. Clinton (the guy with the slick willy, not the battle ax reverse-carpetbagger lawyer he's unfortunately married to) understood this. Clinton knew that the key to eliminating debt is figuring out how to increase income. Obama simply has no clue.

And neither, IMO, do Ben Bernanke and the Go-Go Geithners.

I wish you'd listen more to the part of you that builds American wealth by his hard work and his honey business, and truly would reject *all* the morons, including the know-nothings who spout that useless populist rhetoric of redistribution.

Oh well.
And do not be conformed to this world, but be transformed by the renewing of your mind, that you may prove what is that good and acceptable and perfect will of God.
Romans 12:2 (NKJV)
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dfosterf on 1/6/2013(UTC)
Offline DakotaT  
#9 Posted : Friday, January 4, 2013 8:08:24 PM(UTC)
DakotaT

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Originally Posted by: Wade Go to Quoted Post
I've never been a fan of any Clinton other than George, but America would be far, far better off with Bill Clinton in charge than the current group of clowns.

The difference between Clinton and Obama (and, for that matter, between Clinton and the younger Bush) is that Clinton, despite his unfailing iberal rhetoric, spent more time getting blowjobs from Monica and very little of it making it harder and harder for the productive sectors of the economy to do their thing and build the tax base. Clinton was a cynic, not a Robin Hood wannabe. He was a talker, not a builder of regulatory piles.

On the other hand, Obama, and you it seems, actually believes you can pay off the national debt by redistributing wealth from rich to poor or some such. He fails to understand that the real hope of America lies with you and other productive people out there. Not with transfer-of-wealth schemes. Clinton (the guy with the slick willy, not the battle ax reverse-carpetbagger lawyer he's unfortunately married to) understood this. Clinton knew that the key to eliminating debt is figuring out how to increase income. Obama simply has no clue.

And neither, IMO, do Ben Bernanke and the Go-Go Geithners.

I wish you'd listen more to the part of you that builds American wealth by his hard work and his honey business, and truly would reject *all* the morons, including the know-nothings who spout that useless populist rhetoric of redistribution.

Oh well.



See Wade, I call BS on the Republican definition of redistribution of wealth. Taxing the wealthy to put an influx of money in the national budget as a solution to the debt is logical.

Redistribution of wealth is keeping the war machine alive so that middle class Americans are forced to use their tax dollars to line the pockets of the wealthy stockholders of defense arms companies.

Now stay with me, cause I have the solution to the whole debt thing - we tax the sh*t out of the people that have benefitted from the actual redistribution of wealth and cut the the military by 40% this year. We might just take our military capabilities back to a first strike capability instead of a total annihilation capability.

Now take an aspirin Wade, and go to bed and get back to me in the morning. The professor was just schooled by the master. I know, I'm an a$hole. Rock On! Ha Ha I'm Right! Asshole

I don't care about presidents, they're all f*cked in the head.
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Offline Wade  
#10 Posted : Friday, January 4, 2013 8:09:13 PM(UTC)
Wade

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Originally Posted by: DakotaT Go to Quoted Post
Do you people actually sit around and worry about this stuff? Our country has hardley scratched the surface of its natural resource, we currently are able to raise enough food to feed the world, we have state of the art technology in industry and war. Every day a 2 mile long train of coal runs through Bismarck, then later in the day a 3 mile long train full of oil runs through Bismarck, then another train of various grains goes through. Yeah, I don't sit around biting my finger nails over this sh*t, but I guess it's something to argue about, so carry on!


On this you are correct. In fact you understate our productive capacity. Even with the sh*thole that American education has become over the last three generations, America has a capacity for productivity that is still second to none. Problem is, we seem to be collectively doing everything in our power to ensure that that productive capacity never gets realized.

Do you realize just what kind of production the USA could have had in the 30s had not the Republican Hoover and the Democratic Roosevelt combined to do everything they could to that a quarter of the workforce was first unemployed and then, through the massive redistributions of the New Deal, underemployed? Then, having spent a decade plus screwing with the production system, and thanks to the bastards in Berlin and Rome and Tokyo, we had to use that very productive capacity to ratchet up the destruction of wealth, human and otherwise, around the world. Only in the late forties and, especially the fifties, did America start putting those amazing resources of human capital and human ingenuity, far more massive in their productive ability than the mere physical resources of oil shale and corn, to work doing productive stuff.

So what do we have now? The Hoovers and the Roosevelts duking it out with their bad economics.

North Dakota will be fine regardless, I expect. At least until Washingtonians figure out that an "excess wealth" tax on the shale field owners can be used to finance those trillion dollar coins for a few months. Or think about creating a new "conservation corps" of unemployed lawyers and college professors to plant daisies along the highway and paint road lines with a kindergarten brush.

Or build dormitories for American citizens or wannabe citizens of Hispanic descent who are taking jobs from True Americans.

I've long since passed the point where I worry about it, though. Besides I'm too busy trying to figure out how to take responsibility for and deal with the consequences of my own bad financial decisions.

Fortunately, I'm lucky to have Ecclesiastes and John 3:16 and Romans 1:5 and Romans 12:2 to fall back on. In the end, I don't have to worry about whether Ben Bernanke or Bill O'Reilly is the bigger pinhead. I only have to recognize that the problem comes when I believe so much in my ability to have the answers, or when I believe it is important for someone to have such answers.






And do not be conformed to this world, but be transformed by the renewing of your mind, that you may prove what is that good and acceptable and perfect will of God.
Romans 12:2 (NKJV)
thanks Post received 1 applause.
dfosterf on 1/6/2013(UTC)
Offline Wade  
#11 Posted : Friday, January 4, 2013 8:24:46 PM(UTC)
Wade

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Originally Posted by: DakotaT Go to Quoted Post
See Wade, I call BS on the Republican definition of redistribution of wealth. Taxing the wealthy to put an influx of money in the national budget as a solution to the debt is logical.

Redistribution of wealth is keeping the war machine alive so that middle class Americans are forced to use their tax dollars to line the pockets of the wealthy stockholders of defense arms companies.

Now stay with me, cause I have the solution to the whole debt thing - we tax the sh*t out of the people that have benefitted from the actual redistribution of wealth and cut the the military by 40% this year. We might just take our military capabilities back to a first strike capability instead of a total annihilation capability.

Now take an aspirin Wade, and go to bed and get back to me in the morning. The professor was just schooled by the master. I know, I'm an a$hole. Rock On! Ha Ha I'm Right! Asshole

I don't care about presidents, they're all f*cked in the head.


Then how come you parrot the silly numeracy-challenged rhetoric of our current one so often. I've challenged you before and I'll do it again. Show me the numbers for the bolded bit.

Please. Really. I'd love to agree with you on such a simple solution.

I really would.

P.s., I never claimed to be a master. If there is virtue in being a college professor, and I daily wonder if there is, it comes because and when we realize the profound limitations of our ability to solve and predict and explain. Alas, most of us professor types most of the time are too convinced of our educational superiority, too prideful, to realize that all that extra education means is we might know a fraction of a thousandth of a percent more than the rest of you. That while you may be ignorant of 99.99 % of the universe, we are merely ignorant of 99.9895%.

Big economic problems are a lot simpler to get into than they are to crawl out of. It takes very little effort to borrow a lot of money and spend it on your good ideas. That I *am* an expert on, unfortunately. But once you've borrowed all that money and you're trying to figure out how to dig yourself out, there are no easy answers. There are no simple answers. There's just saying, gee, Wade, you've been a f*ckhead yet again. And you don't get to blame American Express and Visa and Paypal and ask them to forgive you like your Mom in her pre-dementia days used to.. Get to work and stop being such a personal f*ckhead.

Stop looking for other people to push your own responsibilities off on. Instead, concentrate for a change on doing what your friends Troy and Foster and Wayne and Kevin and Formo and Porforis all do. Work and be responsible yourself. God'll eventually take care of the real bastards.

And do not be conformed to this world, but be transformed by the renewing of your mind, that you may prove what is that good and acceptable and perfect will of God.
Romans 12:2 (NKJV)
thanks Post received 1 applause.
dfosterf on 1/6/2013(UTC)
Offline DakotaT  
#12 Posted : Friday, January 4, 2013 8:37:46 PM(UTC)
DakotaT

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Originally Posted by: Wade Go to Quoted Post


Fortunately, I'm lucky to have Ecclesiastes and John 3:16 and Romans 1:5 and Romans 12:2 to fall back on. In the end, I don't have to worry about whether Ben Bernanke or Bill O'Reilly is the bigger pinhead. I only have to recognize that the problem comes when I believe so much in my ability to have the answers, or when I believe it is important for someone to have such answers.



Well, I could definitely work on my humility, but arrogance is the key tool that got me through my life trials. I certainly didn't ask for all the bull sh*t, and did what I had to do. I've had my days of being a penitent man, and will again, but for now I have to keep this edge to get my kids raised and a good start in their lives.
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dfosterf on 1/6/2013(UTC), Wade on 1/6/2013(UTC)
Offline dfosterf  
#13 Posted : Sunday, January 6, 2013 2:04:05 PM(UTC)
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Originally Posted by: DakotaT Go to Quoted Post
Speaking of Pinheads, Kingpinhead O'reilly just pissed off the Asian Americans by saying he couldn't understand why so many of them are liberals because they are such hard working indiginent people. I guess Republicans are the only Americans that can be considered "hard working". Uffda Bill, you can be a dumbass.




He sounded right to me. I don't know what "indiginent" is, but I'll work with ya, here.

Why do we have to care about who we piss off so much? What ever happened to an honest perspective, without the whining about it?

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damn skippy I'm an owner. I currently own a full .00001924537805515393 % of the Green Bay Packers.



Offline DakotaT  
#14 Posted : Sunday, January 6, 2013 2:42:15 PM(UTC)
DakotaT

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Originally Posted by: dfosterf Go to Quoted Post
He sounded right to me. I don't know what "indiginent" is, but I'll work with ya, here.

Why do we have to care about who we piss off so much? What ever happened to an honest perspective, without the whining about it?



Once again, you missed the point: Republicans have an arrogance to them that they have cornered the market on hard work. I call bull sh*t.
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Offline dfosterf  
#15 Posted : Sunday, January 6, 2013 4:33:53 PM(UTC)
dfosterf

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Originally Posted by: DakotaT Go to Quoted Post
Once again, you missed the point: Republicans have an arrogance to them that they have cornered the market on hard work. I call bull sh*t.


I missed nothing. You remain a complete commie bitch stuffed-full of bullsh*t and MSNBC delusions and I gotta go back to work in a few days for another 6 in a row after a very rare 3 day off period.

While retired.

Not because of politics, the gov't, or the economy...

...Because of my bossy wife, lol





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damn skippy I'm an owner. I currently own a full .00001924537805515393 % of the Green Bay Packers.



 
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