The Trillion Dollar Coin

The Trillion Dollar Coin trial balloon that is being floated around as a fix to the Debt ceiling, proves that there is no stopping the destruction of the dollar. Since we are heading towards another debt ceiling debate, someone is floating the idea that if an agreement cannot be reached in Congress, the Treasury has the legal power to coin money and set the value of that money. The idea of the Trillion Dollar Coin is that instead of Congressionally approved debt needed to fund the government and ultimately the dollar paradigm, Treasury Secretary Tim Geithner can mint a single coin and value it at a trillion dollars and bring it to the Fed to monetize.

The sick symbiotic relation of the lender of last resort , the Fed, and the spender of last resort, the government, ensures that all debts will be paid with increasingly worth less dollars. Prior to leaving the Federal Reserve, Alan Greenspan testified to Congress that the Fed could fund the government as far out and as much money as the government needed, but he went on to conclude that he could not guarantee the purchasing power of those dollars. The more money that enters the system destroys the value of every other dollar already in the system. This includes your current purchasing power, cost of living and the real inflation adjusted value of your assets and retirement savings. We are at the end game and people should recognize the current danger we face and take proactive action to personally avert this coming crisis.

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4 comments to The Trillion Dollar Coin

  • speedspirit

    I cant believe this has gained any merit in the media mainstream or alternative. How can Little Timmy declare the value of any PM. Platnium has a open market value he cant just say its a trillion? Or how about some moon rocks they are very rare?

    Over on Silver doctors site the latest article in the comments their are lot and lots of silver stackers crying the blues that the price of silver hasnt budged. QE4 and no movement to the upside. I am feeling another Chris video coming explaining this to us all that ” its better to be early then late….”

    • Anthony Bartlett

      Look at the face value of your american eagle silver coin. Now compare it to its’ spot value. They can proclaim the redemption price for any good, as can any buyer of any good.

      Just be careful. It is not 100 percent certain that net inflation will continue. It takes a LOT of bad fiscal policies to counteract the deflationary environment of recent times. Do I have faith that they will do the right thing and tell all recipients of gov’t funds to expect a “no pay due”? Or do I expect “pay due” with printed money? I obviously expect the gov’t to of course not have the courage to tell half of our population that they shall not received the money entitled to them.

      Harry Dent expects the next crisis to be massively deflationary. This is due to his belief that the citizens will revolt against a notion of massive money printing. While this is a good point, he forgets the millions of people who will be demanding gov’t money to continue. Most recipients cannot survive without this money. Must watch

      This is why it is so critical to follow their actions(fed/govt) closely. The most important thing is to be capable of independent thought. Things may change, however unlikely that may be. Expect a time to come where you challenge everything you believe.

      Per your statement about the silver price, just ask Jim Rogers. If it goes down more he hopes to be smart enough to buy more. If it goes down significantly more, he hoes to be smart enough to buy significantly more. He’s said this about silver before, and other commodities. I hope people don’t need reassurance/explanations from Chris Duane everytime the value of their investments goes down.

      The value of my house has gone up over the past 6 months. This only is meaningful if i sell it as I plan to soon. If I hold onto the house, then I will watch the value plunge over the coming decade. Equity doesn’t mean squat. It is phony. It is based off of the immediate value based on a small number of sellers and buyers and dependent on a grand majority of holders.

  • Henry Hollenberg

    Don’t worry about the silver price not rising. That price is just another piece of propaganda in the effort to assure all of us that everything is OK.

    As a physician watching our health care system slowly crumble into dust I can assure you everything is not OK and as they say the end is near.

    Physicians used to run to consults, now they run away from them. It started first in the University systems and now this attitude is widespread in Private Practice.

    The reimbursement for placement of a central line has dropped 16 fold since 2006. That’s just six years. To what effect? You guessed it shortages. In my area only a handful of physicians are still willing to rise to the challenge of venous access.

    The patient’s traditional advocate, the primary care physician has bailed on hospital practice due to low reimbursements for hospitalized patients. Now they work exclusively from their offices and avoid the hospital like the plague. Before, when they used to control the consults they were big fish in the hospital ecology. They would routinely throw their weight around and demand that the specialists toe the line and take proper care of “their” patients.

    Under the current system the hospitalists have filled this role and are ineffective as they don’t have much clout. The specialists tied to that hospital are going to get the consults no matter what. The hospitalists can’t send the patient “across town” they are employed by the hospital and must use specialists based at that facility. They also don’t know the patients as well as the PCP’s used to and submit many more inappropriate consults, which eats up the specialists time as they must spend a lot more time sanity checking the consult.

    Frequently they put in a consult with a specialist just to off-load the work of doing the History and Physical, ie figuring out what is going on with the patient, ie a pure dump.

    The end result is that the patient is thrown into a complex maze of medical decisions when they are not at their best with no effective advocate to shepherd them through the process. The patient ends up getting a kind of bums rush bouncing from specialist to specialist then out the door. I routinely run across a lot of fear and desperation in my patient encounters. It’s really a sad thing to see.

    We’ve let the government make a real mess of healthcare. There should be lots of opportunities for aligning incentives in the healthcare field on the other side.

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