Hi Ingo, taxesbyanyothername, and tonight’s Mod Squad [solid modding, real solid modding, by the way] . . . and now some recent additions: bionic mosquito and pauloportugal.
I think I am going to have to get Politenessman to whip out his steel hankie and let it rip!
The Trillion Dollar Coin, with roughly the same current face value as gold, is still a debt instrument. Anyone holding one would ask themselves . . .
“What is this I hold in my hand? Something the US Gov gave me must be able to purchase something in USD . . . “ And then one day, when you least expect it, they will come a knocking and buy whatever assets the $1T coin will buy them at that time.
The real issue is not so much the debt and paying it off, but the huge quantity of money and electronic money, e.g.: $1.2 Quadrillion ($1200T) on investors’ balance sheets as derivatives. The recent money printing of another $15T, which is sitting on the bankers’ balance sheets, is also disconcerting . . . all that free money they got due to a shell game they pulled from 2001 – 2007.
I never got any.
Money is like holding stock. If you have a share split, then the shareholders get the split, not some bankers! That’s bonkers! Sorry, I could not resist calling bankers bonkers.
If any of that vast quantity of money ever goes on the market at a high rate of speed to buy up US assets, or anything where the USD is accepted as payment, then all hell will break loose on upward price movement – too much money chasing too few goods.
A tiny US GDP of $15T puts it in perspective.
It’s pretty obvious that people that create money are playing games with money, and they use the balance sheet to do it. The balance sheet is where that huge amount of money sits, tax free.
Now we come to Ingo and his “gold as money” . . . Ingo, how come you want to print paper based on the gold you have? I know exactly why . . . the same reason my 5oz will not be used for exchange unless that is the last asset I have . . . it would take a lifetime to get it back if I used it to buy something. I own 5oz, which is 6.66 times the 0.75oz that we would each have, if it were distributed equally to 7 billion people. Most people hold no gold, and would not lose their grip on it, if they got some. You would want to give them paper scrip, so you could resolve the debt at the end by not giving away your gold.
Ingo . . . there are too many people on this planet for gold to be used as a medium of exchange. It is merely a store of wealth for a few people; that is all. 0.75oz is just not enough to do all the things one wants to do in life . . . it’s like running your life on just under 3 days pay!
To make a long story short, the balance sheet is where the action is. Honest money is easily produced using small amounts of paper money from a large amount of people . . . let’s say 86.2 million Irish and Irish Diaspora invest $1 each . . . and viola, the fiddler would be fiddling on the roof with $86.2 TAX FREE million . . . so that the money printing and the peace process can begin.
Oh, did I mention that the money is destined for a new game? A Limited Edition Print ARG (Alternate Reality Game,) and distributed to all people for free, as a marketing and promotion tool. All completely legal, tax free (in Canada,) and endorsed by Rothschild himself, MI6, CSIS, HRH and David Cameron, although David Cameron doesn’t matter so much, since he is just an elected person . . . but he does have connections.
The issue is who will be trusted to print the ARG money? That person . . . or 4 persons would have to be above reproach. And when the printer accepts the game money as payment for the print jobs, the whole thing goes Overunity . . . then the quadrillions of existing US money becomes irrelevant, along with all governments.
snip – - – The Fiddler is a metaphor for survival, through tradition and joyfulness, in a life of uncertainty and imbalance. – - – snip http://en.wikipedia.org/wiki/Fiddler_on_the_Roof