Creative Speculation

CJCRANE

(18,184 posts) Wed Jun 17, 2015, 03:07 PM Jun 2015

Why can't the treasury just mint

18 trillion dollar coins and pay off the debt?

Okay, so there would be several thousand very angry bankers, but on the other hand there would be over 300 million very grateful Americans.

12 replies

= new reply since forum marked as read

Highlight:

Why can't the treasury just mint (Original Post) CJCRANE Jun 2015 OP

Know anyone on a fixed income that lived through the late 1970s, early 1980s? Hoyt Jun 2015 #1

Lets use Zimbabwe as our example - that's basically what they tried to do. hack89 Jun 2015 #2

Since DU claims the top 1% of 1% own most of the wealth, what would be the downside? n/t OnlinePoker Jun 2015 #3

But we're told that's why we can't have nice things... CJCRANE Jun 2015 #4

So? hack89 Jun 2015 #5

Where does the money go? CJCRANE Jun 2015 #6

What money are you talking about? nt hack89 Jun 2015 #7

The money that goes to pay the debt. CJCRANE Jun 2015 #8

It goes to people like me - anyone that buys US Treasury Bonds hack89 Jun 2015 #9

the government borrows money from the fed at interest instead of minting and valuating it itself. wildbilln864 Jun 2015 #10

Note that wasn't always the case, the Government has issued currency directly PoliticAverse Sep 2015 #11

Yes indeed and that's how it should be done today! n/t wildbilln864 Sep 2015 #12

Hoyt

(54,770 posts)

1. Know anyone on a fixed income that lived through the late 1970s, early 1980s?

Reply to CJCRANE (Original post)

Wed Jun 17, 2015, 03:13 PM

Jun 2015

-- Or, low to medium income with no investments like a house.

hack89

(39,171 posts)

2. Lets use Zimbabwe as our example - that's basically what they tried to do.

Reply to CJCRANE (Original post)

Wed Jun 17, 2015, 04:04 PM

Jun 2015

hyperinflation and the resultant destruction of every American's wealth would be the most likely outcome. I don't think all those American's will be that happy.

OnlinePoker

(5,719 posts)

3. Since DU claims the top 1% of 1% own most of the wealth, what would be the downside? n/t

Reply to hack89 (Reply #2)

Wed Jun 17, 2015, 07:01 PM

Jun 2015

CJCRANE

(18,184 posts)

4. But we're told that's why we can't have nice things...

Reply to hack89 (Reply #2)

Thu Jun 18, 2015, 07:09 AM

Jun 2015

because we have to pay off the debt.

hack89

(39,171 posts)

5. So?

Reply to CJCRANE (Reply #4)

Thu Jun 18, 2015, 07:15 AM

Jun 2015

Not paying it will be worse.

CJCRANE

(18,184 posts)

6. Where does the money go?

Reply to hack89 (Reply #5)

Thu Jun 18, 2015, 07:25 AM

Jun 2015

Who gets it and what do they do with it?

hack89

(39,171 posts)

7. What money are you talking about? nt

Reply to CJCRANE (Reply #6)

Thu Jun 18, 2015, 07:48 AM

Jun 2015

CJCRANE

(18,184 posts)

8. The money that goes to pay the debt.

Reply to hack89 (Reply #7)

Thu Jun 18, 2015, 02:17 PM

Jun 2015

Who to and where does it actually go?

I'm not asking you specifically (unless you know), I'm just thinking aloud, trying to figure out how it all works and who ends up with the money.