Reps. Tlaib and Nadler expressed support for minting a $1 trillion platinum coin to pay off US debt [More]
Don't you need to own a trillion dollars worth of platinum? Does the government have it lying around or is this just saying that's what it's worth? At the current market price of $945 an ounce, how much would the damn thing weigh?
And the money question: How much less will that make the currency worth? Is it time to invest in wheelbarrows?
Forgive my questions-- I did lousy in Economics and defer to my communist superiors.
[Via Steve T]
2 comments:
I once had my mother send me to the convenience store on my bicycle for a loaf of bread. Upon my return, She arranged a little meeting between my behind and my dad's belt because I came back with a $0.28 loaf when I could have bought a $0.22 loaf. Yes, boys and girls, I'm old enough to have lived in the days when you could get your behind warmed up over $0.06.
So from that perspective, here's a little math word problem like the ones you enjoyed so much in school.
At the Federal Reserve's current inflation target of 2% per annum, how long until we're reduced to wiping our behinds on George Washington's face because toilet paper will cost more than $1.00 per sheet?
Forget Bidenflation for the moment. That steady 2% per year drip that no one notices or talks about will, given enough time, put us all in the poor house.
Could someone please step out for a second and see if that frog is boiled yet?
Idiots. why don't they just laser-print a $1T IOU on a 2¢ sheet of paper, and deposit it in a lockbox with a little ceremony, like they did to "honor" their political Social Security "lockbox" promises for two decades?
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