We did it guys, we've saved the economy! Hahhahaahahahahaha. This was front page CNN! We can't print money, but we can mint fake coins! And if that doesn't work, we can just have the Fed print money so they can buy government property...? MSM is going crazy villifying all who oppose the debt ceiling raise, they are getting desperate coming up with justifications.
If you were to make a trillion dollar coin worth it's weight in platinum, it would weigh about 17,500 tons.
"So... what’s all this business about $1 billion per troy ounce? Are there metals far scarcer than iridium and enormously more expensive than rhodium — while at the same time, non-radioactive or very, very nearly so? As it happens, yes. Each element comes in varieties called isotopes whose atoms differ in the number of neutrons in their nuclei. You’ve probably heard of uranium-235 and, well, the polonium-210 that did in former KGB officer Alexander Litvinenko. Both are at least moderately radioactive and thus off limits for our quest. But there are all sorts of stable4 isotopes, too. For example, silver comes in two of them, 107 and 109. Their natural proportions are 51.85% and 48.15% respectively. Gold and rhodium are rather unusual in that they occur in only one stable isotope each, gold-197 and rhodium-103. Tin has the most, ten. So what you’re looking for is an element that’s extremely scarce in parts per billion, and an isotope of it that’s of such a tiny proportion that the product of both numbers is the smallest of any earthly substance. Osmium comes in seven stable isotopes, and among them osmium-184 is the rarest at 0.02%. That times the element’s 1.8 parts per billion equals about a half part per trillion. But as mentioned above, osmium’s not the nicest stuff to have lying around. Plus, although you can correct me if I'm wrong, no one seems to have a creditable price for 184Os. For a far more serviceable candidate we don’t have to look far. Platinum comes in stable isotopes 190, 192, 194, 195, 196, and 198. Among those, the scarcest is 190, whose natural occurrence is 0.014%. If platinum as a whole exists in 37 ppb in the earth’s crust, 190Pt would be 0.014% of that: 0.005 ppb or 5 parts per trillion. Therefore, isotopically pure platinum-190 is the most precious metal in the world. Robert A. Freitas Jr., author of “Tangible Nanomoney” in Issue 2 of the Nanotechnology Industries Newsletter, speculates a figure for 190Pt of $1,347,960 per gram for 4.19% enrichment. This would come out to $32 million per gram in its pure state, or about $1 billion per troy ounce." Troy ounce = 31.1 grams. 31.1g x 1000 = 31,000 grams. so about a 31 kg coin, or roughly 68 pound coin. 220 lb gold coin for perspective.
Silver, Silver Bar, Silver Bars, Silver Bullion, Gold and More - APMEX.com Platinum: $1,780 1,000,000,000,000/1780 = 561,797,753 Ounces / 16 oz/lb = 35,112,359 lbs /2000 = 17,556 tons FYI. I didn't know there was a super platinum that he was referring to.
yeah their are actually much much more exspensive substances including metal , but they are mostly radioactive or only existent for a few seconds... in the future we will continue to develop more and more.
Is it not reasonable to infer that markets would tank if the government were to default? Is it not equally reasonable to imagine that, given the less than perfect ability congress to work together to find solutions Congress has displayed in the past rolleyes, that a consensus on how to save enough money so as to avoid the need for an increase by August 2nd might be a little much to expect? What am I not appreciating here?
Of course markets would tank. Why? Because the government is massively involved in our economic system. If our government was not made to be such a strong portion of our economy, then the government running out of its means to support itself would only involve the governments economic status. If our economy was free of governmental intervention, their fuck ups would not effect us so badly. Your answer was not posed to me, but I'd say yes, its reasonable to expect that the economy would tank if they do not raise the debt ceiling. And now my question. Is it also not reasonable to expect that if we let the government bullshit its way through the upcoming problems by raising debt ceilings, printing money, etc etc, they won't EVER come up with an actual solution to the problem? The more we put it off, the harder we are gonna fall when we run out of bullshit gimmicks to prop the economy Up.
So if they sell of 2 trillion worth of government property, ( essentially pawning our governments property to the fed) until they can raise the debt ceiling, i'm assuming they would have to raising the ceiling OVER 2 trillion, in order to pay back the Fed, and still have money left over to run our country. You know the fed wont let the country get away with pawning off property without making a profit on the risk.
It's the same argument we made with the bailouts. Do we let the bad debt become liquidated now and allow for a natural recovery to all the mistakes people have made, Orrr, Do we just keep doubling down and hoping for some miracle to pull us, or our kids, or our kid's kids... out of this ever growing hole? The whole thing is retarded anyways, only in bizarro world does raising a "debt ceiling" not count as a default. The markets will react however the media and mainstream economists tell them how to react, but anybody with a brain is diversifying out of the US. I think that's an unreasonable assumption, in my lifetime congress has always succumbed to the will of the establishment and corporate interests. These things usually occur at the last minute so everybody can excuse it as an fast thinking, emergency decision made under pressure.
What do you suppose the problem is? (Don't even say regulations like some idiot libertarian). So without the "bullshit gimmicks" our government institutes, our economy would be in even worse shape? Sooooo I guess we need those bullshit gimmicks then?
Ahh. The very bullshit gimmicks that are helping to prop up the economy. Let's face it man, our government has been doing this for decades. Our economy would be a lot smaller without the gimmicks. To me, that's not a bad thing, but to the capitalist...it's whatever it takes to make the numbers look good i.e. GDP, JOBs, stock value. Shit like that.
False wealth, easy credit, low risks, stupid investments. Government intervention on behalf of the "capitalists" you speak of.