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Message
re: Trillion Dollar Coin Idea - Why Doesn't This Make Sense in My Head?
Posted on 1/7/13 at 7:10 am to Meauxjeaux
Posted on 1/7/13 at 7:10 am to Meauxjeaux
quote:
What money does actually circulate any more? It's all ACH now pretty much.
True. I guess by circulate, they mean in the same sense that you would "inject liquidity into the market".
This post was edited on 1/7/13 at 7:22 am
Posted on 1/7/13 at 7:18 am to ZereauxSum
quote:
in the same since
There you go again.
Yeah, I think the idea is just to put the coin in a room as an accounting gimmick to get around the debt ceiling rule, and then to destroy the coin (without using its value as collateral to purchase or borrow anything) once some future negotiations raise the debt ceiling, or else eliminate it altogether.
To be honest, I'm in favor of eliminating the debt ceiling altogether. It's a quite silly attempt at Congress trying to impose self-restraint on itself.
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