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$1 Trillion Dollar Coin

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By (user no longer on site) OP   
over a year ago

America is to mint a token single coin with a face value of $1 TRILLION dollars (that's 1,000 BILLION dollars) to demonstrate the ceiling of their national debt.

That's a fantastical amount of money to mint in a single coin and imagine trying to do your weekly shop with it!

If we look back to the past where that amount of money in the whole world didn't even exist, let alone in one country, how did humanity get from entire economies worth a few millions of pounds to economies running into trillions upon trillions? Did we just mint/print more money?

What would happen if we reset everything back to a much lower value.

Has the cost of goods risen in line with the amount of money in circulation, and, if we reset monetary value by a division of, say, 1,000 (taking 999 units of currency out of circulation for every 1,000 units) how would that be reflected in the prices of goods?

Clearly, price cannot continue to rise exponentially without wages rising in line or just behind it, but if it is simply a matter of raising wages to match rising prices then what's the point in it? Why not have a reset every 50 years or so and start again?

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By (user no longer on site)
over a year ago

Because we’d probably need to reset the world population to a fifty year low just to give it any chance of working….. and I don’t think that would be very popular….

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By (user no longer on site)
over a year ago

Imagine if you lost the coin through a hole in your pocket.

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By (user no longer on site)
over a year ago

Most of the worlds money, only exists in computers.

There is not enough actual money to go round and never will be.

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By *ucsparkMan
over a year ago

dudley


"Because we’d probably need to reset the world population to a fifty year low just to give it any chance of working….. and I don’t think that would be very popular…. "

Sure there is a list somewhere with a few names on

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By (user no longer on site)
over a year ago


"Because we’d probably need to reset the world population to a fifty year low just to give it any chance of working….. and I don’t think that would be very popular….

Sure there is a list somewhere with a few names on "

Thats called the USA phone directory

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By (user no longer on site)
over a year ago


"Imagine if you lost the coin through a hole in your pocket. "

or down the back of the sofa, and found it again, when you were looking for chinky money lol

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By *rightonsteveMan
over a year ago

Brighton - even Hove!

Look at inflation, deflation and reflation and communism. That will explain the basic economic theories to you and give you a basis on which to research more specific answers to your questions.

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By (user no longer on site)
over a year ago

[Removed by poster at 09/01/13 19:50:12]

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By (user no longer on site)
over a year ago


"Because we’d probably need to reset the world population to a fifty year low just to give it any chance of working….. and I don’t think that would be very popular….

Sure there is a list somewhere with a few names on "

haha,,, yeah but it would need to be a pretty long list...

We’d need to eradicate more than half the worlds present population to restore it to level of 50 yrs ago and where on earth would we bury approximately three and three quarter billion bodies and who gonna pay for it…eh!

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By (user no longer on site) OP   
over a year ago


"Because we’d probably need to reset the world population to a fifty year low just to give it any chance of working….. and I don’t think that would be very popular….

Sure there is a list somewhere with a few names on

haha,,, yeah but it would need to be a pretty long list...

We’d need to eradicate more than half the worlds present population to restore it to level of 50 yrs ago and where on earth would we bury approximately three and three quarter billion bodies and who gonna pay for it…eh!

"

You've misunderstood me. I'm not talking about trimming the population to what it was 50 years ago, I'm suggesting that if wages rise because prices rise then it serves no purpose so we might as well reset prices/wages every few decades.

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By *aucy3Couple
over a year ago

glasgow


"Imagine if you lost the coin through a hole in your pocket. "

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By *nnyMan
over a year ago

Glasgow


"Because we’d probably need to reset the world population to a fifty year low just to give it any chance of working….. and I don’t think that would be very popular….

Sure there is a list somewhere with a few names on

haha,,, yeah but it would need to be a pretty long list...

We’d need to eradicate more than half the worlds present population to restore it to level of 50 yrs ago and where on earth would we bury approximately three and three quarter billion bodies and who gonna pay for it…eh!

You've misunderstood me. I'm not talking about trimming the population to what it was 50 years ago, I'm suggesting that if wages rise because prices rise then it serves no purpose so we might as well reset prices/wages every few decades."

I don't think we need worry about wages rising to keep up with prices for a good few years.

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By *icketysplitsWoman
over a year ago

Way over Yonder, that's where I'm bound

The numbers are silly because it's all been made up. If we still dealt in tangible money/tokens like coin or shells then the values would be managed.

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By *acreadCouple
over a year ago

central scotland


"Because we’d probably need to reset the world population to a fifty year low just to give it any chance of working….. and I don’t think that would be very popular….

Sure there is a list somewhere with a few names on

haha,,, yeah but it would need to be a pretty long list...

We’d need to eradicate more than half the worlds present population to restore it to level of 50 yrs ago and where on earth would we bury approximately three and three quarter billion bodies and who gonna pay for it…eh!

You've misunderstood me. I'm not talking about trimming the population to what it was 50 years ago, I'm suggesting that if wages rise because prices rise then it serves no purpose so we might as well reset prices/wages every few decades."

You cant really set prices or wages every few decades due to supply and demand, we all know when something becomes scarce the price goes up then and there and in abundance it comes down (oil and gas being two of the exceptions) same as certain tradesmen/ professionals become scarcer they will be paid more.

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By *acreadCouple
over a year ago

central scotland

Watching tv the other day it was said if Americas debt was stacked in dollar bills they would go up to the moon and down again twice, now that is a big debt.

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