And Now For A Comedic Break ~ The Trillion Dollar Coin!!

This Coin Isn’t Worth A Wooden Nickel Nor Will It Buy A “In Debt We Trust Wooden Coin”

Good Old Wooden Nickel Which May Worth More Than The Magic Coin

This Wooden Coin Just Plain Stinks!

Here’s what I know about the Magic $1 Trillion Coin.

Our government has hit the debt ceiling, and unless Congress votes to raise it, we will go into default. The Republicans in the Congress, say they won’t raise the debt ceiling unless the Democrats agree to major spending cuts. The Democrats are giving the Republicans the Finger.

Theoretically the Treasury can print a $1 Trillion coin and the Feds can exchange it for brand new cash and we can all sing “Oh Happy Day” and skip off into the sunset. It’s legal, but a bit unusual. Most countries have a (get this) a functioning government which would raise the debt ceiling to pay its bill and already approved spending by the government.  But since we don’t have a functioning government (open for debate) the $1 Trillion coin is the answer.

Are you still with me?

The Magic Coin would not increase the money supply more than just raising the debt ceiling. If the debt ceiling is raised, the Treasury will print $1 Trillion paper money, also known as Treasury Bonds and the Feds will exchange that for money. However, absent a debt ceiling increase, the Treasury can’t print the paper debt. But it can print the Magic Coin. Since the coin doesn’t increase the money supply any more than issuing paper; or to be more correct, electronic debt would do, there is no harmful effect on the money supply. It will make the US look like idiots, but political idiocy doesn’t raise inflation; otherwise inflation would be very high in the USA already.

Thanks to Macro Investor that should answer the question: What is the $1 Trillion coin? You’re on your own for the answer to the rest of the below questions.

What is the $1 Trillion coin worth?

Is it worth a wooden nickel?

Can I purchase a wooden “In Debt We Trust” coin?

Why would anyone want their engraving on the face of the $1 Trillion coin?

So I got to thinking what I would do with $1 Trillion Dollars……

Can I buy a fleet of luxury cars & Harleys? Range Rover, Maybach Mercedes with a driver, Mercedes V12,  a stretch Hummer limousine just so that my boys could have some fun with a driver and a Prius Hybrid to keep me humble?

Would I finally be able to buy 5 homes in San Diego, Hawai’i, Aspen, Spain, San Francisco?

Take golf lessons from Phil Mickelson?

Build a 25 room mansion with pool, gym, Jacuzzi, horses, ATC’s, and open it with a complete staff to children who are living in the foster care system and then build another identical home for children who are higher functioning Autistic kids. There would never be a charge to anyone for their complete care no matter how long it takes. There would be additional rooms for entire families. We would have a private jet for families who couldn’t afford to visit.

My last charitable act would to write (25) $1 Million Dollars Checks and drop one off at Ready Children’s Hospital in San Diego, Homes for Battered Women & Children, children with terminal disease and then put Gloria Allred on retainer to go after the scumbags who batter women and children

Open (4) $10 million trust funds, one for each of my sons & Marti’s two children that they can’t touch until they’re 25 and they must have a solid business plan for the money. No business plan, no money.

That’s my list and my take on the Magic Coin

Are You Part Of The Solution Or Problem?

While the holiday season is a happy one I’m always reminded of our active military who are spending time away from their loved ones to protect us and how little effort it takes to brighten their day.Have you ever been at the airport when all of a sudden you look up to see a group of enlisted men and women who have joined the Marines, Army, Air Force, Navy in their camoflauge uniforms? Do you ever wonder where they’re going? What small town/big city they’re from? Do they have children or spouses, girlfriends, boyfriends who are missing them? Will they all make it home to their loved ones? I know I do and then I ask myself what can I do to make their day a little brighter?

So here’s my challenge to you, the next time you’re sitting there waiting for your plane, sipping on an overpriced cup of coffee  round some of them up, march them to the nearest coffee concession and buy them each a cup of coffee. I guarantee you’ll go straight to the front of the line. You might say you don’t have the money and that’s fair, then at least do it for one, but just do something.

Me? I’m heading over to Oceanside this morning to go to The Breakfast Club, sit at the bar & enjoy some coffee & the first group of Marines that come through is going to get their meal paid for. I never make a big deal out of it, I’m not doing it for the accolades, I’m doing it because I appreciate what they do everyday for us.

I just received 20 upgraded passes to the upcoming 2013 Farmers Insurance Open which is being held January 21st – 27th at Torrey Pines in La Jolla. I don’t need 20 passes that include private seating on the 15th green at the new Tilted Kilt Tartan Terrace  so I’ve decided to give at least half of them to some Marines who enjoy golf and would enjoy watching one of golf’s premier events at no cost other than their food and drinks. Not a big deal to you and I but to them it will be a day that they won’t soon forget.

It’s not easy being away from your family and when you’re the age of some of these kids it’s probably the first time any of them have been without Mom’s home cooking, sleeping in a real bed, and and away from their childhood friends.

Now they’re on their way to a country most of them couldn’t spell before they got their deployment and they’re scared. I know they’re scared because I’ve asked them. A little constructive fear isn’t necessarily a bad thing for their upcoming trip, it keeps them aware of what their mission is.

Most of them will be back here within 6 months to a year, but they will have seen things no young person should ever have to witness. They will have changed, but at least they’re back here at home. Some of their buddies aren’t going to be so lucky.Our country, while the greatest in the world is governed by lazy, over paid politicians who have forgotten where they come from and many of them aren’t in favor of giving these heroes fair compensation.

Remember, it doesn’t take much to make someone else’s day a little better. Instead of handing a few bucks to the panhandler on the corner, take an active duty person to lunch, at least then you know your money is doing something positive.This blog weas prompted by something I just read and it angers and saddens me at the same time that these are the people who are making decisions for our servicemen and women.

Cindy Williams was appointed by President Obama  As an Assistant Director for National Security in the Congressional Budget Office.

She wrote a piece for the Washington Times denouncing the pay raise(s) coming service members’ way this year citing that she stated a 13% wage increase was more than they deserve. See this link for 2013 Military Pay Scale Chart for the Army, Navy, Air Force & Marines

http://www.militaryfactory.com/military_pay_scale.asp

It’s always fun to help someone else and it always makes me forget about what’s going on in my life.

Happy 2013