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

Trillion $ Coin

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

Wooden Nickel

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

In Debt We Trust

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