Re:Domain Knowledge or a Lack Thereof
by TheCoelacanth on Friday February 22, 2013 @09:45AM
(#5264369)
The trillion dollar coin wasn't supposed to deal with US debt, it was a trick to get around the debt cap rule that Congress imposed on the government.
If they actually spent the trillion dollar coin, that would likely cause devaluation of the dollar; as long as the coin remains locked up in the treasury it's just an accounting trick to get around their own arbitrary rule and wouldn't cause devaluation, because everyone buying dollars knows it's just a stupid accounting trick and not actual money.
If they actually spent the trillion dollar coin, that would likely cause devaluation of the dollar; as long as the coin remains locked up in the treasury it's just an accounting trick to get around their own arbitrary rule and wouldn't cause devaluation, because everyone buying dollars knows it's just a stupid accounting trick and not actual money.