How would a trillion dollar coin even work?

[Anonymous No.56010712]

The trillion dollar coin was an idea pitched during the Obama administration to fight against the debt ceiling and was resurrected by Biden during the pandemic, but was never actually minted.
Now, I don't know a lot abou economics so bear with me:
The whole purpose of money is to be exchanged for goods and services, right? So, how the FUCK would someone exchange a TRILLION dollar coin for anything?
Like yeah if you had the coin in your hands you would theoretically have 1000000000000 dollars, but you wouldn't be able to buy a mansion or a yatch or anything because nobody (not even Blackrock) would have enough money to pay the change and if they had they would never give away a trillion dollars of REAL money in exchange of a fucking coin.

[Anonymous No.56010719]

Trust
Only that there isn't trust
The 90s kumbaya boomers and rehyptotecization finance scammers importing niggers managed one thing
Turn a high trust society into a no trust society

[Anonymous No.56010767]

>>56010712
They'd probably issue debt using it as collateral

[Anonymous No.56010771]

>>56010767
And who trusts it? You think a bank or a fund trusts a funny coin?

[Anonymous No.56010789]

>>56010712
Jews have all sorts of rules about what they can’t do during shabbos, but over the years they found ways to circumvent them and trick god. For example, you can’t turn on the light directly, but nothing prevents you from clicking a button that might randomly turn on a light after a certain time. You can’t carry things outside your home, but if you install a special wire around the whole city, god will think the whole city is part of your home. It’s the same principle here.

[Anonymous No.56010803]

>>56010789
>Le jew
Gtfo yid! You are nothing more than a levantine mutt, the spawn of goat herder daughters being raped by degenerate thrown out of bronze age cities

[Anonymous No.56010893]

>>56010712
The US Mint is a government institution and the constitution allows them to coin money. The mint can thus create a coin of arbitrary value. Of course nobody would actually exchange goods directly for the coin.

Thays where the federal reserve (the Fed) comes in. The Fed creates money just by entering digits in a ledger. They currently fund the government by buying Treasury bonds with their made up money, which are debt of the US government. The framers of the Federal Reserve Act knew this would lead to bad things, so they initially did not allow the Fed to buy US Government debt. Shortly following the creation of the Fed, WWI happened and the US government needed money bigly. They amended the Federal Reserve Act to allow them to buy some treasuries, but created a debt ceiling to limit the damage they could do. Ever since then, Congress has just raised or suspended the debt ceiling every time they approached it,thus making the debt ceiling meaningless. Occasionally there's political theater where one party pretends to make a stand and refuse to raise it. Of course they always do in the end because they're all a part of the same machine, but in the mean time they come up with other schemes to get around it, including the trillion dollar coin. The Fed would simply buy the trillion dollar coin from the Treasury at face value, and enter one trillion dollars into the Treasury account at the Fed, which the Treasury can spend however they normally do. The Fed would list this as a trillion dollar asset on their balance sheet, but everyone would know it is banana republic bullshit because an ounce of platinum is not worth a trillion dollars, but allegedly nobody would care because they already engage in so much banana republic bullshit.

[Anonymous No.56010905]

>>56010789
How do people still take religion seriously holy shit is the truth that scary to them

[Anonymous No.56012974]

>>56010893
>mfw platinum will be with 1 trillion USD/Oz