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Re: Staggering World Debt Points toward Crisis
Posted: Tue Apr 05, 2016 10:17 am
by glennds
Libertarian666 wrote:
And of course even having gold won't protect you against such a catastrophe because the Fed could print gold and make it worthless!
Are we talking 3D printing here?
Re: Staggering World Debt Points toward Crisis
Posted: Tue Apr 05, 2016 10:30 am
by Libertarian666
No, I was just being silly. Even the Fed can't print gold, although they could coin it (if they had any).
Re: Staggering World Debt Points toward Crisis
Posted: Fri Apr 08, 2016 1:19 am
by MachineGhost
Libertarian666 wrote:
No, I was just being silly. Even the Fed can't print gold, although they could coin it (if they had any).
The Fed doesn't have that authority, the Mint does. And the Mint is a bureau of the Treasury. Hence that stupid nonsense about the Treasury issuing a $1 billion platinum coin to pay off the debt or something like that.
Re: Staggering World Debt Points toward Crisis
Posted: Fri Apr 29, 2016 7:13 pm
by MachineGhost
In 1917, Congress imposed a debt ceiling on the federal government of about $215 billion (adjusted for inflation). At present, the national debt exceeds $19 trillion. Is the Debt Limit Statute, lately the object of a bruising political fight each time it is raised or suspended, constitutional? D.C. Circuit: Plaintiff, who owns some of the debt and is concerned such fights threaten to devalue his investments, lacks standing to find out.
https://www.cadc.uscourts.gov/internet/ ... 609889.pdf