The magic trillion dollar coin, a metaphor for our times
James Pethokoukis has a piece explaining how the Treasury could mint a trillion dollar platinum coin and defer any issue about raising the debt ceiling. Our question is: why stop at one coin? A strong majority of those under 30 (the euphemism is “low information voter” — ha!) recently voted to live in fantasyland. Why not go all the way there? Why does the Fed get to hoard all that money? If one trillion dollar coin is good, aren’t two better? For that matter, why not a coin for every American citizen? Too nationalist and discriminatory for you? Okay then. Everyone on the planet gets one. There. Everything’s fixed now.
January 9th, 2013 at 11:09 am
Yes, one trillion dollar coin for every citizen, or human – much better and more practical than a trillion dollars in $100 bills, or even $1,000 bills. The peasants would need a LOT of wheel barrows to move around all those bills!
January 10th, 2013 at 5:00 am
The more dollars there are, the less each will buy. If spending is not controlled, the dollar becomes worthless. All the clowns in DC are powerless to change that fact.