/biz/ - Business & Finance

[Anonymous No.54870905]

If the Burgerbros go ahead with minting trillion dollar coins, does that mean that the USD becomes platinum-backed?

[Anonymous No.54870912]

btc to 200k
indian superpower

[Anonymous No.54870934]

What if they lose the coin wtf

[Anonymous No.54870937]

There are many things I would like to know about this coin, because it sounds so weird that a coin would be worth that much

Does the coin contain 1 Trillion of platinum at spot weight value, or it just a small coin with the words 1trillion usd on it?

Who gets to keep the coin?

Is it one coin, or they will start circulating?

What are they used for?
They have a huge value, for international trade I guess?

>>54870934
Yellen is going to miss it in a boating accident

[Anonymous No.54870942]

>>54870905
glaring admittance of how corrupt, fake and made-up nonsense their imaginary worthless fiat money system is

[Anonymous No.54870946]

>>54870905
Everytime i read this my mind is blown that this is real life.

>The Treasury Department can mint platinum coins of any denomination. That's led to a school of thought that says Yellen should simply mint a trillion-dollar platinum coin and deposit it to pay off the debts

Literally magic funny money

[Anonymous No.54870947]

>clink
Oh no no no aaaaaaaa!

[Anonymous No.54870950]

>>54870937
Its just a cheap coin with 1 trillion written on it.

[Anonymous No.54870953]

>>54870937
>The Treasury Department can mint platinum coins of any denomination. That's led to a school of thought that says Yellen should simply mint a trillion-dollar platinum coin and deposit it to pay off the debts

Mind is fuxking blown

[Anonymous No.54870957]

>>54870947
Wait
>Clink clink clink

[Anonymous No.54870965]

>>54870953
basically she can shit out a smelly turd, claim its worth 10 trillion dollars and hand it to you with all the seriousness and levity as if she just handed you an oil tanker full of solid pure gold

[Anonymous No.54870970]

>>54870905
Never lose sight or forget the fact that it's also PEEPO backed

[Anonymous No.54871061]

>>54870946
We are all Zimbwawean

[Anonymous No.54871065]

>>54871061
No yes

[Anonymous No.54871075]

>>54870937
I just wonder why the rest of countries can't

[Anonymous No.54871076]

>>54870965
>she can shit out a smelly turd, claim its worth 10 trillion dollars
lmao
yeah exactly,the world's economic system lives in an imaginary value in Yellen's imagination
It obviously HAS to collapse

[Anonymous No.54871077]

>>54870965
this. and apparently that will save the economy? or is that article a skit? i cant tell anymore

[Anonymous No.54871086]

>>54871077
>cant tell anymore
Checked, and I feel the exact same
We have shifted into a Clown Universe in which nothing makes sense anymore

[Anonymous No.54871105]

>>54871086
What about harari turning a hulking beast through genetic engineering and regenerating his wound after being shot in the head and the pope making fire come out of the sky and then jebus coming back and turning the UNs army into a bloody pulp

[Anonymous No.54871303]

>If the Burgerbros go ahead with minting trillion dollar coins, does that mean that the USD becomes platinum-backed?
imagine you have 100,000 bond holders. How are you going to buy back all their held debt with one fucking platinum coin? Also, to mint a platinum coin the Treasury will have to borrow the equivalent amount from banks, or buy that platinum coin with their current available cash. Even if they had it, it would be easier just to use that cash to buy debt back from the bondholders, or keep paying the coupon. No wonder y'all so fucking poor you're financially illiterate.

[Anonymous No.54871352]

>>54870905
>Trillion dollar coin
neva been dun before

[Anonymous No.54871363]

Just mint a coin purse full of those bitches. Let's go and get it over with.

[Anonymous No.54871415]

>>54870934
which coin?

[Anonymous No.54871428]

>>54870937
>Who gets to keep the coin?
You know (((who.)))
Otherwise you sound pretty boomer tier retarded.
There is a place for you, though. Have you heard about Zerohedge?

[Anonymous No.54871439]

>take it to walmart
>buy a pack of gum
>ask for change
checkmate globalists

[Anonymous No.54871441]

The fed should just give an ultimatum
Either social security goes or they crash the economy with no survivors

[Anonymous No.54871453]

>>54871439
Walmart will be entirely cashless in a matter of months.

[Anonymous No.54871456]

>>54871441
Or maybe a debt-based currency is not feasible long term.
Maybe have it based on a specific time of quantifiable labour?

[Anonymous No.54871466]

>>54871456
>based on a specific time of quantifiable labour
So you mean whoever wastes the most resources in the most efficient way gets the most currency?

[Anonymous No.54871490]

they should have a reality show called "americas first trillionaire" where contestants are drawn from across the united states to compete in a serious of challenges to see who will receive the trillion dollar coin and become americas first trillionaire.

[Anonymous No.54871511]

>>54870905
The coins are sold at face value, not at the spot value of the material. E.g. platinum's spot-price is 1.2K as I recall, and if someone sells a coin worth 1.2K for 10K, he's stolen 8.8K from you, even if it's made out of platinum. The same goes for gold. The coins can be 100% gold, if the government can set their value, it's essentially robbing you by forcing you to buy gold at an artificially inflated dollar-price through it being in a coin.
It's certainly better than the government forcing you to pay a $99.98 markup on a paper note which costs 2 cents to make, but it is fundamentally the same grift.

[Anonymous No.54871518]

>>54870905
Why make it out of platinum, why not make it out of wood or compost or plastic.

[Anonymous No.54871520]

>>54870937
The official gold-price in the US is 42 dollars per ounce (note: only the price at which the government can force you to sell your gold to it).

[Anonymous No.54871522]

>>54871086
truth is,.. the game was honked from the start.

[Anonymous No.54871534]

>>54870905
funny thing is wqhy even makle it oiw of platinum. this whole ruse makes it clear they are printing monopoly money out of thin air.
she could literally just take a shitty piece of used toilet paper and write "fuck you IOU shit" on it and it would be worth as much

[Anonymous No.54871538]

>>54871303
They will 'sell' it to the Fed which will print 1 trillion
Problem solved

[Anonymous No.54871547]

>>54871456
If you can't value different kinds of labor labor differently, labor doesn't get allocated correctly. If you pay a doctor the same as a hole-digger, a lot more holes will get dug than wounds stitched, since there's a lot more hassle to becoming a doctor than there is to becoming a hole-digger.
Rewarding everything via money is a far from perfect system, but rewarding everything via money incorrectly is worse than even that.

[Anonymous No.54871568]

>>54871547
Make three cryptos
Gold coin, silver coin and copper coin
Gold is 10x silver is 5x and copper is 1x
Compensate according to hours of work done
That'd be socialism tho

[Anonymous No.54871578]

>>54871534
It's for the illusion. You see it working on OP too, who was tricked into wondering whether the US would therefore be "platinum-backed". A 1T coin would indeed just be "fuck you IOU", but it's attached to something shiny, so it'd trick people to some degree. Just like that pepe token that's some useless shitcoin, but latched onto pepe-the-meme in an attempt to "give it value".

[Anonymous No.54871587]

>>54871568
The gold, silver, and copper are completely superfluous additions to the unworkable scheme, see >>54871578.

[Anonymous No.54871605]

>>54871587
No it's a scale you see
It goes
Gift economy-labor backed currency-fiat-gold-bitcoin
Ranging from max consumption to max production
Atleast that's my theory

[Anonymous No.54871614]

>>54870905
No. Obviously they can't make a platinum coin that is actually made of 1 trillion dollars worth of platinum. It would weigh almost 30,000 metric tons. This article is written by an idiot. Platinum has nothing to fucking do with the concept of minting a trillion dollar coin. They could make it out of any metal and it certainly will not weigh enough to actually be worth a trillion in metal value.

The entire point of the trillion dollar coin thing is that America gave the ability to print money to the federal reserve bank (privately owned bank), so when we need to print more money we actually have to go into debt to this private bank and they print it for us. We print bonds, give them to the fed and they print dollars. This creates a feedback loop where we always owe more money on those bonds in the future, than we actually get for them in the present. So the national debt can only ever increase. Congress must approve it every time the government wants to increase the debt limit. And some people in congress don't always want to just increase it. However...the US Treasury Department (the official government agency who should be the one to print money) still has the ability to mint coins. So a way to get around congress not raising the debt limit that gets suggested sometimes, would be to have the treasury mint a coin and declare it worth a trillion dollars. But it wouldn't have to be platinum, and definitely would not weigh as much as a battleship or whatever. It would just be fiat like most other coins.

[Anonymous No.54871617]

>>54871605
Could you explain in more detail? I'm genuinely curious how you mean this.

[Anonymous No.54871637]

>>54870905
it’s obvious cbdc is their only way out. Why even bother with this circus. Just print until Hitler returns, they have no other options than either neocommunism on steroids or neochristian I mean woke dark ages

[Anonymous No.54871646]

>>54871617
Well if there was a labor backed currency most of the spending would go towards consuming rather than creating business.
And if Bitcoin was adopted worldwide it'd have near zero inflation whereas gold can still technically be mined and most of the spending would go towards creating new businesses instead of consuming.
In a gift economy everything hs free so people would consume and there'd be little business creation so they'd just consume until there's no more stuff.
While there's still new businesses in fiat it promotes consuming more than a gold standard.

[Anonymous No.54871686]

>>54871614
so in a way, it could be a big "fuck you" form the USA, to the private FED bank?

maybe its actually a good idea. whatever the USA allegedly "owes" the FED reserve. print a worthless copper/zinc coin the size of a penny and declare it is worth that entire amount, send it to the FED and tell them to fuck off.
then send in the military to completely destroy, annihilate, obliterate and end the existence of every last person that is a part of or even remotely connected or related with the FED reserve

[Anonymous No.54871716]

>>54871490
Pitch it to Netflix

[Anonymous No.54871861]

>>54871547
bullshit no one wants to dig holes. lots of fags want to be doctors regardless of pay. when you ask Americans if they'd rather make $30K to be a doctor and all the schooling that takes or make $100K but spend the rest of their lives in a coal mine guess which they choose?

[Anonymous No.54871956]

>>54870905
No. It makes them the laughing stock of the world

[Anonymous No.54871989]

>>54871490
Hosted by Mr. Beast kek

[Anonymous No.54872018]

>>54871518
because the mint is authorized to create platinum coins in any denomination. they do not have the legal authority in the laws to make the coin any other metal if they want to be able to make it any denomination.

[Anonymous No.54872035]

https://en.wikipedia.org/wiki/Trillion-dollar_coin
>The Secretary may mint and issue bullion and proof platinum coins in accordance with such specifications, designs, varieties, quantities, denominations, and inscriptions as the Secretary, in the Secretary's discretion, may prescribe from time to time

[Anonymous No.54872270]

>>54871520
>at which the government can force you to sell your gold to it
Let them come and try to take it from me. I already bought a sword for such an occassion
They can't force you to give up your gold. It's up to you if you want to comply or not

[Anonymous No.54872288]

>>54871578
If the coin is big enough, it could be of 1T value

[Anonymous No.54872313]

>>54871614
Awesome!

[Anonymous No.54872432]

>>54870905
They did this twice under trump

[Anonymous No.54872490]

>>54870946
It's like something from Idiocracy. Like a high Polisci college kid thought up

[Anonymous No.54872508]

>/biz/ learns about minting

[Anonymous No.54872638]

“The fed is private” is a meme, the system functions well for the government right now so it stays, but if there’s ever a serious need to print fresh dolla bills without debt congress will instantly revoke their private status.

[Anonymous No.54872663]

>>54872638
yeah, right. sure thing kid

[Anonymous No.54872691]

>>54872663
Happens literally all the fucking time in emerging markets.
“We swear we won’t tamper with the currency this time mistah, super serious see our central banks has laws, you can invest!”
>actually repossess the banks ability to print currency and inflates their shitty currency to hell like a boss

That’s the future for all countries as modern capitalism collapses. The dream of an overarching shadowy central bank pulling the strings of the global economy is a dead dream, the 80’s killed it.

[Anonymous No.54872714]

it says the trillion-dollar coin will be fast. that means it will be a coin on the XRP Ledger. David Scwatz the creator of xrp once said that inorder for XRP to function it can't be cheap.

[Anonymous No.54873057]

>>54870946
> tfw identifying as a Treasury Department

[Anonymous No.54873509]

>>54870937
Musk will buy it and flip it on the way to Mars to select which Earth's nations to buy first.

[Anonymous No.54874504]

>>54872018
>Complete clown world
>But you have to follow the rules

Surely this kind of comedy has a name.

[Anonymous No.54874559]

>>54870905
>my country is now Zimbabwe tier
When is the Second Coming happening?

[Anonymous No.54875231]

>>54870937
Why a coin anyway? Just print a paper slip that says "worth 1 trillion"

[Anonymous No.54875506]

>>54875231
There's a loophole for "commemorative coins" that allows them to mint a platinum coin of any value.

[Anonymous No.54875515]

>>54875506
Which doesn't apply to bills or non-platinum coins.

[Anonymous No.54875537]

>>54870905
If they're doing this I want it to be tin, or pig iron. Make economics as overtly retarded as it secretly is.

[Anonymous No.54875552]

>>54875515
I feel like it’s the platinum so they can placate the goycattle who think it’s justified because of some fancy metal

[Anonymous No.54875615]

>>54872638
Congress won't even audit them.

[Anonymous No.54875722]

>>54870937
>Does the coin contain 1 Trillion of platinum at spot weight value
>spot price / kg is 34k

yeah they're going to make a 29 MILLION kilogram coin
a coin that would be about as tall as a three story house
literally using nearly half of the entire worlds circulating platinum supply!

[Anonymous No.54875815]

>>54871105
Is this Harari the jewish antichrist who will get shot in the head and will survive it?
I saw some stuff from him saying how videogames and drugs will combat being bored and feeling useless or something. He was advising the WEF, so he has some power.
>And I saw one of his heads as it were wounded to death; and his deadly wound was healed: and all the world wondered after the beast.

[Anonymous No.54875950]

>>54871077
>>54871076
like seriously, why does it have to be a physical object at all? Isn't this the same thing as Yellen declaring verbally that the debt has been paid off? This is like some hoodoo magical talisman, wtf.
Also, it'd be really funny if this thing accidentally went into circulation and someone received it as change at a gas station.

[Anonymous No.54875955]

>>54870905
It was supposed to be a joke...

[Anonymous No.54875991]

>>54875722
B-But it'd erase the debt AND ensure the money is backed by more than usury, thin air and the sound of hands rubbing!

Mint the Platinum Obelisk I say.

[Anonymous No.54876014]

>>54875991
>owe one trillion
>purchase the materials for a trillion dollar coin
>now owe two trillion
>???
>fake the Mars landing
>penguin of doom xD

[Anonymous No.54876026]

>>54870912
/Thread

[Anonymous No.54876529]

>>54870905
no, but people will think it does and platinum will go up anyway