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Here comes the fiscal cliff

#1 User is offline   Bam 

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Posted 28 December 2012 - 03:46 PM

The fiscal cliff is almost here and no compromise in sight. It could be interesting.
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#2 User is offline   Bam 

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Posted 01 January 2013 - 06:02 PM

And over they go ... Senate passes deal, House sitting today to consider it.

US Senate passes deal to avoid fiscal cliff
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#3 User is offline   HDMC 

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Posted 09 January 2013 - 04:52 AM

View PostBam, on 01 January 2013 - 06:02 PM, said:

And over they go ... Senate passes deal, House sitting today to consider it.

US Senate passes deal to avoid fiscal cliff



Could this be the answer?



Posted Image


Quote

It's not every day you get an email from a former director of the U.S. Mint (unless you're married to one, probably) — but it's also not every day that you write about the very real possibility that the U.S. Treasury might mint a platinum coin worth one trillion dollars. Either way, it was an excellent surprise to hear from Philip Diehl, the former Mint director and Treasury chief of staff who drafted Sec. 5112 of title 31, United States Code with Rep. Mike Castle — in other words, the guy who wrote the "trillion-dollar coin" law. His take? Not only does the law clearly allow for the coin to be minted, it also would have "no negative macronomic effects."
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#4 User is offline   scotto 

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Posted 09 January 2013 - 05:35 AM

I like it.
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#5 User is offline   Democrates 

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Posted 09 January 2013 - 01:57 PM

View PostHDMC, on 09 January 2013 - 04:52 AM, said:

Could this be the answer?



Posted Image

Ok can someone please explain to me how it would have no negative affects? Wouldn't minting that coin cause inflation to skyrocket and destroy the value of the American dollar?
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#6 User is offline   HDMC 

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Posted 09 January 2013 - 04:57 PM

View PostDemocrates, on 09 January 2013 - 01:57 PM, said:

Ok can someone please explain to me how it would have no negative affects? Wouldn't minting that coin cause inflation to skyrocket and destroy the value of the American dollar?



Since the coin would not be in circulation - the value of it would be figures on a balance sheet - I can't see that it would have any more of a negative effect than if the GOP had agreed to the Dems proposals.


A far worse negative effect would be if the U.S. actually defaulted, surely?


Where's Senexx when you need him?
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#7 User is offline   scotto 

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Posted 10 January 2013 - 07:07 AM

That coin kind of reminds me of Sennex, come to think...
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