I don't understand the $1 trillion dollar coin concept

Just mint a few dozen of them and BOOM debt paid off. What's not to understand

It's part of the MMT mindset. They believe a country with a fiat currency can never go broke because they can just print whatever they need to pay their debts. The handful who have a basic understanding of inflation postulate that taxation would be used to combat inflation.

What happens then? Is that money just burned? Warehoused? How much value can such a currency hold when the currency itself is considered disposable?

MMT is the Tranny Pronouns of monetary theory. You have to completely deny reality, never look below the surface and then force everyone else to do the same in order for it to work.

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It's part of the MMT mindset. They believe a country with a fiat currency can never go broke because they can just print whatever they need to pay their debts.

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You should try having a tax discussion with one of these geniuses

They can't tell you why taxes exist but they sure as frick want a lot of them

MMT should be destroyed by 2022, but somehow it survives. Many people my age have never lived through a US govt that wasn’t flooding the market with money in some form or fashion, since it’s been happening since 2008, and up until 2022 there had been no consequences, so they have a hard time seeing issue with it

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Their defense is likely "this is why we need to raise taxes"

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Which essentially destroys the whole idea of MMT in the first place

Hard times make hard men. We are soon going to be making a lot of hardened men and women.

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Hard times make hard men. We are soon going to be making a lot of hardened men and women.

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Totes. We're heading into the Fourth Turning of our generation.

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You don't understand because you're a rational thinking person. It's just a real coin with a fake value placed on it. They could make a special half a penny and mint it and make it 1 trillion dollars. Same idea.

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How does it help US pay bills lol

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It's part of the MMT mindset. They believe a country with a fiat currency can never go broke because they can just print whatever they need to pay their debts

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Technically, they are correct. However, no one will issue any new debt in said currency. Also, the citizens will simply ask to be paid in other currencies. So, if MMT think that success looks like trading 20 .22 bullets and sex with my wife for two fillings at the dentist, then yes, MMT is correct.

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Not really, on the theoretical level.

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Disagree.

MMT survives, in part, by looking at money in a vacuum which separates it from the anything else which gives value to it other than sheer amount of existing currency. Another large part of the value of the USD (aside from the numerical amount of Dollars) comes from the desirability of US debt as an investment vehicle. This has helped keep the USD as the world's primary reserve currency, which also helps create extra value for it by giving reasons for Demand to be created other than just because the currency exists.

"I have value simply because I am" is great for a therapy session, but isn't a good foundation for currency valuation.

This is part of the "never look beyond the surface" aspect (by theorizing, it's assumed someone is looking below the surface, so anyone actually theorizing on it in an objective fashion should run into this point).