The US Government's Trillion Dollar Coin 

Lel

People who are happy about the fall of the Byzantine Empire: Angry noises

May I ask what Byzantium has to do with any of this?

I'm feeling sad about the fall of the British Empire.

HAI... The fun version of wendover

What happens when you give Mugabe a thriving farmland, economy, and industrial center? *Rhodesia falls, everyone starves, and everyone is poor*

Not anymore, it's venuzula now

Not anymore! Looks like you’ve been sleeping under a rock for a few years. They adopted the US Dollar a few years ago. Makes sense because of your name. Nice try kid

Kim Jong-un Go away Kim, it’s not like your economy is much better

Where were you between now and a few years ago? They adopted the US Dollar. You got exposed by Kim. People like you is why COPPA is targeting creators. Kids like you shouldn’t be on the Internet

it's called Fiat currency, "Fiat" means "declared", it's money that exists because the government declares it to exist, and has no real negotiable value except in the imagination of people...

@@tylerufen And yet when other countries print too much money they end up with a worthless currency!

But...the government _does_ make cents...

@@tauceti8060 Cos they don't have other nations to underwrite it. The US does, conveniently enough...

@@ArawnOfAnnwn No it doesn't.

Now my change. 🤣👌

*Keep the change*

*now gimme the 999.999.999.999$ of change*

keep the change

cashier: k thnx bye

LMFAO

The debt ceiling is like what I say I'll do tomorrow I would explain but I'm sleepy so I'll do it tomorrow.

Fr

Well, your self-imposed deadlines are with good intentions That thing is anything but

@@hcn6708 The debt ceiling started good intentioned. It was to make winning WW1 easier by allowing the president to borrow whatever he wants TILL THE CEILING. Prior to that, every single debt had to be approved by Congress. Want to finance a loan for a purchase of artillery piece from France? Gotta get it approved by France. Want to get a loan to modernize the civil service? Gotta get the loan approved by Congress as well. It worked pretty well but then Republicans in 1995 repealed the rule that allowed debt ceiling to be automatically raised when budgets are approved (cuz, you know, you can't argue against financing shit you've already decided to pay for).

Trillion is easy to spend all in one place so tge coin is valid. It gets tricky however when you take Scrooge's cash from him cuz tgere was a shortage of cash.. and give him a single bill worth like 10.000.000.000.000.000$ .. that is tougher to spend in one place.. I guess you could offer to pay all healthcare debts and such for all for the next century perhaps..

is pawn stars the new gamestop trade-in meme?

Damn, Rick will be taking a huge risk here.

Underrated comment😂😂😂😂😂👍🏽

@@Whoolgans yes and they deserve it... all pawn shops deserve it

@GreenTeaKitKat or someone a trillionaire because he was getting 25 cents in change for the 1.75 bottle of coke he bought with 2 bucks.

Not much would happen, you would just instantly buy the company you out the coin in, and perhaps even the building beside the vending machine and all it's land, and probably that company too which owns it 😂.

“There’s soda on the plane!”

You’ll win the jackpot except of launching money it’s launch every soda in a vending machine all over the contry

Imagine throwing it at a stripper. First (s)he be like WHAT THE FUCK! _Then_ (s)he be like WHAT THE ACTUAL FUCK!

Actually just making money works perfectly fine, and it also did in the past in the US. It is not really much different from when banks create it. The problem with Germany was, that they printed too much, so they did have to pay back less of reparation.

@@OnkelJajusBahn the biggest problem was the rest of the world was bitter over WW1 and blamed 100% of it on Germany, therefore causing WW2.

@@OnkelJajusBahn tell that to the people who needed a wheelbarrow of money to buy a loaf of bread in pre-World War II Germany!

@@piperdragon3200 My point was just, it is not the fact, that states print money alone, that ist the problem. The problem ist that Germany deliberately caused inflation.

Deflation. Germany had a Deflation.

But that’s for credit at gamestop , cash would be 30% less

I see. Joostop is everywhere the same.

Fundamentally what you are describing is a transition to communism :)

Gubernamental economy is crazy, nothing makes sense.

...and that's bad why?

@@brazeiar9672 No, that's not what he's describing at all.

@@brazeiar9672 If only we could transition to communism

my brother in christ what would anyone who bought it that isn't the treasury do with it? They can't sell it at a higher price so long as the US treasury has much power, and by the time that happens, it will have depreciated in value due to inflation. Essentially they'd be donating $1,000,000,000,000 to the US government

not even just what the other people said, but who the heck is gonna buy that!!!! even elon musk and jeff bezos together couldnt put their networth together to buy that!!

I mean if somebody does buy it the mission is still accomplished, the govt still gets $1T

Okay but how do you get like the richest people in the world to sell every stock and don't put the stock market into panic mode just to buy a single coin lmao, also remember that was in 2013, and I think at the end they never created the coin anyway

I guess sell it to themselves.

1940's Hungary: *Has a heart attack Zimbabwe: *faints*

US has been printing extra money since after WW2. Ask any international politics maniac.

AK every country has lmao every cu try has inflation which is necessary for a functioning economy

And Hitler

*laughs in Venezuela*

2 dirt?! It's always 1 piece of flint for me!

More like 1 seed

Gamestop: $7

Him in reality:I'll give 1/4000000000 of useless ore

Me: Win win, he gets money and I get infinite di- **POW**

Its only hyperinflation if you dump the cash into the economy. If you just use it to lower debt owned by yourself, its just cancelling out the numbers

@@TheSkyGuy77 ;-;

@Hakim Habib if its held by your Treasury and is called an "asset" rather than a liability (and other nations are required to have some of those assets to trade with you), it doesn't cause hyperinflation. Because that's what the US has been doing since the 1970s.

Argentina and Venezuela: Allow us to introduce ourselves

screw hyper inflation. we have money

It was so dry and deadpan, it actually took me a second.

that was pretty good

Yeah, it sure went over mine. What's the joke?

@@theviniso those with very low income pay very low tax rates. As your income increases, your tax rate goes up, until you start getting into the "Rich" category, at which point you start paying less because you can buy politicians and write tax laws for them. For example, Netflix paid no federal income taxes this year. The things they do pay taxes on, like capital gains, are taxed at a lower rates than other forms of income. (edited for correction, clarity, and specificity)

I didn't laugh because it's true (:

Bus drivers would NOT like this coin.

Hey there Avery. Koala's here.

@@binarysignals9593 But hey, they'll rather take that coin ;) For themselves

Go to Zimbabwe

Did you escape Cuba? If you did I hope you are living better in the US.

This is the case with nearly every country.

aryan bhaskar or a 1920s german chancellor

@@ala0284 lol

@@theworldoverheavan560 Actually modern monetary theory says just that, so it is not that absurd.

Sounds like you've been listening to that wendover guy.

try more or less 9 425 boeing 737

In UK, you could buy 25,500,658 fully specked Toyota Corolla hatchbacks with a trillion-dollar coin

You can own a space monopoly, a space station, a Martian base, Lunar base, mine asteroids, do plenty of space science & projects, and still be left over with 10's of billions left 😉

@@jur4x A 1 trillion dollar coin wouldn't be worth anything in the UK as it is not considered currency. Fundamentally its value is the value of the metal since everyone knows its cannot be cashed in for 1tn of anything. The UK has similar bank notes to these btw, and just like this coin they are totally worthless outside of the UK central banks.

This comment broke me

I don't think any of my vids are clickbaity and when he said that it was kinda funny

Imagine pawning it... Everyone would know where you got your coin from.

@@sleeptyper Im sure there would be a buyer out there somewhere. Heck I'd sell it to China for a billion dollars lol.

@@FROMdaHOOD15 IRS would get interested...

Rage Pie Sounds like the plot of a movie.

@@sleeptyper only if the IRS can catch you before it all goes into an offshore swiss bank

I suggest we revalue the leaf by burning down all the forests.

RainbowRacer We must also burn down all the -trees- future military installations in the next continent over

AND WE INTERROGATED A GAZELLE!

Nobody wants to stop sending because that would require making hard choices. The debt ceiling itself is dumb though. The debt is just the cumulative result of running a deficit. The way to fix it is to run a surplus. All a ceiling does is cause a periodic crisis due to the risk of a default on the debt. A default would just make the whole situation worse. The debt would be just as bad as before, except now the government would end up paying a higher interest rate to service it. They could play games with quantitative easing, but that could cause inflation at that scale. Nobody wants to make hard choices, and that starts with the voters...

@@RichFreeman Modern American Economies are built on the notion that growth is good for its own sake. That's a cancer mentality. Growth comes from new tech and new industry. Not from the Fed.

@@JoshSweetvale thats why the feds are bad, welcome to libertarianism here is your free gadsden flag and sign that says "F THE GOV"

@@nitroxylictv Eh, sorta. Government's not allowed to do urban renewal or help the poor more, so it's spinning its wheels.

Because it is completely inconsequential, everyone screams bloody murder about the debt but it literally doesn't matter. The US operates it the exact same way a business does, more benefit is generated from the spending than is lost due to the increasing debt. This is why companies who have plenty of cash will still take on debts when they can get the money at a low enough cost.

Oof

I read that in this guys voice and couldn’t understand a word. Then I read it in my own voice and I understood it.

It is the 18th

Even in that case no new money is being created, as you said they are buying new treasury bills. They had to have something to buy the treasury bills with.

Yeah I’m still stuck at that point in the video, I can’t figure out how that’s supposed to work.

@@Brained05 The Fed buys treasuries with money that did not exist before. The Fed literally creates money to buy treasuries.

"ahhh we'll figure it out next year"

That's because the debt ceiling isn't like a self-imposed deadline. It's a tool that Congress uses to force the president to do something. Congress sets both the budget (which the president is forced to spend) and the debt ceiling, making it a guarantee that the debt ceiling will be reached. That's because only Congress can raise it, so they force the president into something he doesn't want to solve this situation

I know right. I swear In my lifetime America won't die from war or internal unrest but from going bankrupt

Why even have a debt limit then?

@@XxowendanxXWe don’t! A “ceiling” that’s constantly raised is no ceiling at all!

But... but what about the poor politician's kickbacks and bribes for letting them get away with it :c

Imagine holding the global economy economy hostage to get your way? Crazy right?

You'd have to make lobbying illegal. NO chance of that.

Let's raise the tax rate on corporations so they move to other countries, so do the jobs. France did this.

@@waynethompson1461 fuck it, I can't afford housing anyway. If I'm gonna be in poverty it might as well be funny

RIP

*le oof intensifies*

John Browning approves of this message!

Browned internet is delicious

FacePwn64 Hey man, if that’s what you’re into

Okay banana.

END THE FED

Based

Is gold money? Bernanke: no *Ron Paul has left the chat*

American people: Ron Paul? Nah.

The Fed: prints money Treasury: :o

If it was a straight up at the end.

Haha ikr :) every time the trillion dollar coin comes up i watch this video again :)

I mean, you watched the video. It's not the same. If you just wanted to make a funny comment then understandable but a lot of people don't think further than the memes.

Democracy in itself is very flawed, despite granting massive freedoms and concessions to the people, those same people generally doesn’t know what they’re actually voting for, and thus created weak governments.

It wouldn’t lead to inflation because it was a temporary solution not a permanent one. Once the debt ceiling was raised the treasury would just buy the coin back from the fed. So it’s like +1 and then -1. Inflation would just be the +1. And since the trillion dollar coin would be out of “circulation “ and no longer exist it wouldn’t effect the rest of the money that was out there.

@@beastrule Agreed. However, if the debt ceiling wasn't raised, or was not raised enough to cover the cost of that coin, then it would lead to inflation. I'll have to watch the video again. I seem to recall it implying that the coin solution was a way to circumvent raising the debt ceiling rather than just delaying raising it (thus the source of my confusion). If the latter than it would change the stakes of raising the debt ceiling from "raise it or the government shuts down" to "raise it or deal with rampant inflation".

@@hairyviking9248 in essence it would not particularly change anything as the trillion dollar coin would never been in circulation its only effect was too adjust the books to make it appear as if the government was a trillion dollars less in debt which would allow them to continue to borrow bond backed debt as they had been doing which they would actually use for spending. As a result no new money was actually going to be introduced into the economy meaning no effect on inflation while the coin would only exist until the debt celling was raised and at which point potentially thrown away with a simple +1 trillion dollars to be added back to debt on the books that had been removed.

@@TheRealLaking Forgive me if this comes across as thick headed, but if you check my last reply, I agree that as long as you raise the debt ceiling to above the value of the coin there won't be inflation. At the time of this post our national debt just reached $30 trillion dollars. This means that our yearly interest payment is now >$600 billion dollars. To put that in perspective, farming subsidies are $20 billion, our overblown defense budget is $670 billion, and our medicare/medicaid budget is $829 billion. We could take every penny that jeff bezzos ($187b), elon musk ($256b), and Bill gates ($132b) have and just barely pay 1 year's interest payment on our debt. That paired with our current inflation rate of over 7% makes this video very topical Are you saying that we could mint a $1T coin, not raise the debt ceiling and not cause inflation? If so, how? And more importantly, why haven't we done it 30 times already?

@@hairyviking9248 Its all politics in the end of the day the 1 trillion dollar coin would not be used to pay off any off the governments debt or for government spending. it would appear on paper as though the government was a trillion dollars richer once they were given the coin allowing the government to legally borrow the money it needs for its spending and debt payments. It wouldn't actually help for any real finical problems its effect being government being able to acquire more debt It's only use is as a loophole to avoid a law by politicians. It's not used because it would make any president who used it look bad politically facing criticisms from their opponents which might even include accusations of abuse of power infringing on congress ability to choose a debt level. It would also likely be a action tested in the supreme court as to whether the amount debt was really lowered in the eyes of the law and if more debt could be legally borrowed. However as the video states more and more recently a situation which both president Obama and Trump have faced occurs in which the sitting president faces a hostile congress which uses the necessity of raising the debt limit for the government to function to achieve their own political goals and so the trillion dollar coin can still be considered a "nuclear option" like other loopholes in US laws if a president was pushed to the edge and neither side was willing to back down it might be used unlikely it would be "30" times but at least until the gridlock ends and the debt limit could be raised through normal means. Although if it was done enough times by different presidents in might become the new norm

I assume that is how they make money on those, just don´t pay all of them back out, what a dick move.

Got scammed

No your lifetime outside of this video has forever been shortened

Nano, feeless, instant, secure. No new nano ever. Download the natrium wallet on your phone and go to a nano faucet and get some to see for yourself.

@@alexjohnward No, I don't think I will.

@@QueenFondue keep paying miners every ten minutes then, cheers.

House of cards

Nope. No inflation since there will be a buyback.

What would you do with the resulting six bucks though?

I feel kinda scammed and used at same time too....

dover maskot i feel like a hooker that got fu@&€ed and then the dude ran off and didnt give the cash. Or something

Unless the rate is lower than inflation, in which case less money (in terms of "real dollars" - i.e. adjusting for inflation) is paid out than is taken in.

Not necessarily true. If you invest it in stuff that saves money, i.e. more efficient energy generation or lower drug prices for example, then the T-bonds become a guarantee of paying *less* taxes (or getting more for the same) in the future. If what you said were true every company taking out a loan would eventually go bankrupt, and yet you know that good investments are more important than acruing no debt.

@@PhysicsGamer you still have to pay taxes on the increase in dollars, even if that increase is less than inflation.

@@roflchopter11 ...No, you don't. That's the point. Under those conditions the principal from the original sale of the Treasury bond fully pays for the return on same. The total return from the treasury for the investor is positive in nominal dollars, but negative in real dollars.

@@PhysicsGamer and you pay taxes on nominal dollars.

It was stolen by Fidel Castro too. "What Trillion Dollar bill?" Lol