Previously on Wonder why their are so many slide threads?
DID TRUMP JUST BANKRUPT THE FEDERAL RESERVE SO THAT HE COULD SWITCH US OFF THE FIAT DOLLAR?
IS THIS WHY EVERYONE IS TWEETING HIM JFK RELATED THREATS???
WTF IS HAPPENING
IS THE MADMAN REALLY DOING IT?
home.treasury.gov
federalregister.gov
finance.yahoo.com
twitter.com
Yesterdays archived discussions.
archive.is
archive.vn
Trillion dollar coins
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Other urls found in this thread:
cointelegraph.com
cato.org
youtu.be
congress.gov
pionline.com
businesswireindia.com
strategic-culture.org
congress.gov
twitter.com
cato.org
Not surprisingly, my criticism elicited numerous replies from other MMTs, several of whom claimed that I had overlooked a way in which the Treasury could compel the Fed to top-up its Treasury General Account (TGA) balance. How? By dusting-off and implementing an old MMT idea that captured headlines some years ago. I refer, in case you haven't guessed, to the Trillion Dollar Coin.
For those of you who don't recall it, the idea, first proposed by an MMT blogger and blog commentator styling himself "beowulf," would have allowed the Secretary of the Treasury to thumb his nose at the debt ceiling by taking advantage of a loophole in the 1996 Coinage Act. That Act granted the Secretary permission to "mint and issue platinum bullion coins and proof coins." The loophole consisted of the fact that, unlike other Coinage Acts, this one left the face values to be stamped on the Mint's platinum products entirely to the Secretary's discretion. Because those values didn't have to correspond with the coins' metallic worth, the Treasury might produce a trillion-dollar platinum coin containing, say, one ounce of platinum.
When "beowulf" first proposed the idea, an ounce of platinum cost just over $1500. This meant that, by minting just one trillion-dollar platinum coin and depositing it in its own Public Enterprise Fund at the Fed, the Mint could book close to $999,999, 998,500 in seigniorage, a tidy profit that the Treasury could then sweep into the TGA, to use in paying that many more bills. Today, with platinum selling for just $833 per ounce, the scheme would be even more profitable.
Reminder that anons independently figured out the implications of zero interest Trumpbux plus a big haul of precious metals in destroying the Jewish banking grip on the world. We just thought the precious metals would come from asteroid mining instead of seizing the Rothschild hoard outright.
Oh look who it is!!
Show us your flag!
> A thousand jew rationalizations why he refuses to do so.
JIDF shills CANNOT, AT ALL COSTS, reveal their home location, otherwise Anons become aware the narratives they push are just more kike propaganda.
Show your flag.
Continued-
To many, "beowolf's" plan seemed bulletproof. Several prominent lawyers, including Harvard's Lawrence Tribe, could discover no flaws in it. A Nobel-Prize winning economist (who is also one of MMT's more caustic critics) thought it an excellent idea. The plan even managed to garner something close to an endorsement by a former Director of the U.S. Mint. In fine, nothing stood in the way of its being put into practice.
Nothing, that is, apart from…reality. For here, as in their suggestion that the Treasury might overdraw its Fed account with impunity, Modern Monetary Theorists failed to see the yawning gap between policy actions they deemed lawful and desirable from ones considered so by policymakers themselves.
>this thread again
no one cares faggot, no one cared yesterday no one cares today and no one is gonna care tomorrow. kys
>totally not a rabbi goy
>look at my memeflag
Holy shit, migaturds are desperate these days. So much winning.
>Then go read the blacked porn at the top of the catalog.
For the trillion-dollar-coin gambit to work, two things must happen. First, the Mint must actually strike the coin in question. Second, the Fed must accept that coin on deposit, and accept it at its face rather than its metallic ("bullion") value, crediting the Mint's Public Enterprise Fund accordingly.
The feasibility of each of these actions depends only partly on its potential legality. It also depends on whether real human beings — with reputations to maintain, jobs they'd rather keep, friendships they'd rather not forfeit, innate feelings of right and wrong worrying their consciences, and the "tradition of all dead generations" weighing on their brains — would dare to act according to the law so interpreted.
Let's first consider the legal hurdles. The least significant concerns striking the controversial coin. That the letter of the 1996 law allows the Mint to do this seems indisputable, not withstanding all the ink spilled disputing it. (It was on this point alone that Professor Tribe declared the trillion-dollar coin plan to be perfectly kosher.) The bigger hurdle, which has received far less attention, concerns whether the Fed could be compelled to accept such a coin on deposit, and accept it for its face rather than its bullion value. As the Treasury itself notes, there is
no Federal statute mandating that a private business, a person or an organization must accept currency or coins as for payment for goods and/or services. Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise.
Russia and China have been expanding there gold stashes. Are they in on the plan?
Future Proves Past
They've said they have the enemy's playbook, and weird shit like Project Looking Glass
youtu.be
There is no way Trump could have gained this leverage without the coronachan crisis.
They absolutely anticipated coronachan. Even the name itself "Corona" is a nod to those on the boards as it was mentioned in drops several times, anons assuming they were talking about satellites.
Well played.
Since the New York Fed, like all the Federal Reserve banks, is a private corporation, it would appear to be as free to refuse a trillion dollar coin as a taxi driver is free to refuse a hundred-dollar bill.
But some Modern Monetary Theorists disagree. Here is Joe Firestone on the subject:
A Fed regional bank, such as the New York Fed, in turning down a coin, would be refusing to perform a duty it contracted for to serve as the depository of the funds of the Treasury Department and the US Mint. I don’t think it can do that and remain a regional Fed bank.
…Even though the regional Feds are privately owned banks; they cannot behave in ways that contravene the policy of the Board of Governors, a Federal Agency, and they are very tightly regulated by that Board. So, the regional NY Fed, the bank that has the Treasury General Account (TGA) will not be making any such decisions on its own authority. Additionally, in agreeing to house the TGA, the New York Fed has contracted to serve as the sole banking agent of the Treasury Department with respect to its spending account.
Somehow I don’t think the sole banking agent of the United States Treasury Department has the legal right to turn down a deposit of legal tender, and refuse to credit its face value in the Treasury’s own checking account. Imagine what the liability of that “private” bank would be to the US Government, if as a result of any such action, the US would be forced into defaulting on some of its payments and decided to sue the NY Fed for consequential damages. Not a pretty picture, and not a risk that the NY Fed would want to take w/o an explicit and specific instruction from the Board of Governors.
If I'm understanding the implications of the Fed now controlling the IMF's source of funds properly, we now own the entire basis of both their currencies. This would be why Trump is suddenly speaking nicely about Xi... when he's not ghosting him to talk to Sean Hannity.
Dont respond to these people, user.
Most the time it is a bot fishing for replies, as soon as a reply to it comes along, then a human gets behind it (if you can call them Human...)
Drink your tonic water fren
Guess who controls the coins? the fed, kek
Continued-
And if the Board of Governors itself sided with the New York Fed? According to Joe, the Treasury Secretary could pull rank because, according to the Federal Reserve Act,
wherever any power vested by this Act in the Board of Governors of the Federal Reserve System or the Federal reserve agent appears to conflict with the powers of the Secretary of the Treasury, such powers shall be exercised subject to the supervision and control of the Secretary.
Contrary to some media reports, minting a trillion dollar platinum coin would not raise the debt limit. Rather, it would add a trillion dollars to the general fund of the treasury without requiring additional borrowing, effectively delaying the date when the debt limit is reached.
The law enables this course by authorizing Treasury to produce the coin in whatever denominations the Secretary chooses. When we passed this law in 1996, it was with full knowledge that it was unprecedented in the history of US coinage. Congress had always specified coin denominations by law.
The accounting treatment of the platinum coin is identical to all other coins. When the Mint ships a coin from its vaults to those of the Fed, it books as profit (or “seigniorage”) an amount equal to the difference between the coin’s face value and its cost of production. This amount is subsequently transferred to the general fund of the treasury where it is available to finance government operations in the same way that tax revenue does. When the Fed returns the coin to the Mint due to damage or wear, the accounting treatment is reversed and the coin is melted. Thus, seigniorage “earned” from the coin is like an interest-free loan over the life of the coin.
So, in the case of a platinum coin, if the coin dies were manufactured ahead of time, the Mint could strike a single trillion dollar coin, ship it to the Fed, immediately book a trillion dollars and transfer that amount to the general fund. This would take a day, maybe two. The coin never has to leave the Fed’s vaults for the general fund to receive this new spending capability.
The law provides Treasury all necessary authority to pursue this course. I know this because I wrote the law and produced the nation’s first platinum coin. I’ve been through the entire process.
then just who are you user?
Unlike the tenuous case for using the 14th Amendment to circumvent congressional approval of an increase in the debt limit, the legal basis for this alternative is rock solid. Moreover, it is not a means of circumventing congressional authority over the debt limit, at all, but rather a way of delaying the date at which that limit is reached, in the same way a sudden surge of tax revenue flowing into the treasury would do. So GOP claims that the president is circumventing the law would be unfounded. Besides, the law was passed by a GOP Congress.
All the best,
Philip N. Diehl
35th Director
United States Mint
it's a giant bailout of the ultra riches lets be honest
It's an end to usury. Handing out trillions of dollars at zero interest reduces the total degree to which debt exceeds money in the world - that degree is the source of the (((debt-holders'))) power. Then paying off the debt with money backed by precious metals (read: not more debt) cranks that ratio into reverse, where money exceeds debt.
All this you post is fascinating. This is some serious shit.
I wish I had the brain for economics, I tried to take Econ in college, but the professor was a fat, nasty jewish bitch who literally made us sign a contract that we would not invoke any philosophical arguments to justify this or that.
> Laissez faire capitalism is based upon a certain type of economic philosophy
The contract included that we agreed "all people are rational and reasonable."
Needless to say, I left that class. She rigged her little game.
CORONA HOAX
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Whatever, its just better to keep your powder dry. There apparently seems to be do much wrongdoing and unconstitutional acts going on right now its appalling.
>what country can preserve it's liberties if their rulers are not warned from time to time that their people preserve the spirit of resistance? Let them take arms. The remedy is to set them right as to facts, pardon & pacify them. What signify a few lives lost in a century or two? The tree of liberty must be refreshed from time to time with the blood of patriots & tyrants. It is it's natural manure.
-Thomas Jefferson
It has been exactly 1111 days since Trump had his first cabinet meeting
neither the words mint nor trillion, nor 000,000,000,000 for that matter, appear in the cares act you absolute schizo. enjoy getting rammed up the ass by the fed once again.
congress.gov
When though? Seems like he's waiting for his second term to do all this
>It's an end to usury.
no it's not in any way shape or form an end to usury you're a delusional idiot
>Handing out trillions of dollars at zero interest reduces the total degree to which debt exceeds money in the world
what the actual fuck are you talking about seriously what the fuck?
handing out trillions to the banks and the finance markets without any fucking kind of regulation and protection is good??????
all they do is create a slush found to sink their dept wake the fuck up idiot.
There's no end to usury until you kike the fucking jew out of the bank wake the fuck up.
This is not reverting the dept this is hiding it and obfuscating it.
Why didn't you say that it's a cyber currency?
The fed still controls the coins.
The US citizen gets a digital wallet with no physical worth.
All the wealth stays in the treasury and federal reserve to be used by the elites.
MIGA
If Trump now controls the FED is that good or bad for Israel? Asking for a friend.
>Why didn't you say that it's a cyber currency?
why don't you say it's a currency controlled by BLACK ROCK?
>Trillion dollar coins
Boom. Fuck you.
You are really sweating.
Are you feeling ok?
Black rock is controlled by the jews who own the fed, you should know that.
Why didn't you mention it?
Bump this
You seem to be a bit of a brainlet who didn't pass high school algebra so I'll spell this out for you.
If you have X dollars loaned into existence at Y interest over the course of n years, then you have created Z amount of debt without any increase in money:
Z = (1 + Y)^n - X
The ratio of debt to money for all loans is basically adding all the loans together and looking at the ratio R where
R = (Z + X) / X
Loaning out trillions of dollars at zero or negative interest substantially increases X without increasing Z, thus R diminishes. If you start paying off debt with non-debt-derived money like the Treasury can now do, Z decreases, thus R diminishes. Do this often enough and Z for the whole economy goes below zero and R for the whole economy goes below 1.
>cyber currency
real redpill:
Craig Wright is Satoshi Nakamoto
He worked as a cybersecurity advisor to many governments
He fought child trafficking in South America using computer forensics
BitCoin was a Five Eyes op pretending to be an anonymous 'crime money' when really it's the most traceable transaction system ever invented
That op is now over, as they have all the evidence and have already arrested thousands of people across the world
BSV is the real Bitcoin
Elites pay big bucks to slander Craig Wright, as they fear the true value of a distributed ledger technology, while others just want to buy in cheap
Thank me later
Oy vey goy, don't talk about blackrock that's antisemitic. just pretend it doesn't matter that they will be handling all the (((trades))) for this, and absolutely won't be doing so through their israeli office on Rothschild blvd.
businesswireindia.com
strategic-culture.org
Thx for the spacing your argument make way more sense now. A 0% inflation in the current economical model is in reality a -2%. It create inflation at high speed. It doesn diminish the fucking dept idiot. THEY'RE BORROWING SO MUCH THEY HAVE TO HIDE IT.
What the actual fuck do you think happen when the Fed can print whatever the amount they want whenever they want?
HYPER INFLATION IDIOT
you make it sound like Trump just solved the usury nature of the Fed when all he did was give them the key of US Treasury.
Blackrock
Blackcube
delusional copeposting by magatards that don't realize their entire country has been sold out to zog since the end of ww2.
This is happening in the next ~40 days when the BTC halvening occurs. Get in early guys
We've had trillions of dollars pumped into the market since January and inflation DROPPED.
Imagine if we have been seizing a shitload of (((their))) gold via an EO that takes assets of those involved in human trafficking.
No asteroid of precious metals needed (((they))) already have enough.
No you idiot the Treasury makes the coins and the FED buys them from the treasury at face value because they have to, if they're struck as proof coins.
Metanet is the inevitable future
>Yfw you realize Corona really was released by America so that Trump could destroy the federal reserve
the economy is fake and gay and entirely made up by jews.
lmfao Qtards desperate for something new to talk about because everything else they've posted has been a huge flop
Fuck off shill, I'm interested. There wasn't really any information yesterday, shills and faggots were just spamming the same excerpt from the same article without any real discussion. Glad to see someone putting time into this to simplify it for those of us who don't into financial wizardry nonsense
>and inflation DROPPED.
BECAUSE THE FUCKING MARKET IS BLEEDING MONEY IDIOT IT'S JUST DISAPPEARING
it's jewish magic
>entire country has been sold out to zog since the end of ww2
since the beginning tbqh
as us too ofc
In theory we could print enough coins to own the fed.
So now that the federal reserve is getting merged with the U.S. Treasury, will the government still have to pay interest on printed money? I'm guessing not since now the interest would be paid to the government (same entity that's paying it)
Instead of paying interest to a corporation.
So you concede hyperinflation is not happening and will continue to not happen. Good.
Complete Qtard fan fiction.
There are no fucking coins. OPs delusional ranting about trillion dollar coins is based off a house bill that DIED IN THE HOUSE in fucking 1995.
congress.gov
explain this like if you explaining to a five year old kid.
>So you concede hyperinflation is not happening and will continue to not happen. Good.
ya it didn happen bro there wasn hyper inflation in the last 60+ year of the exact same reason bro
I concede it's not a wealth transfer bro
Just tell me what this means for my gold and silver and does this help or hurt jews?
>for the exact same reason*
