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BS: Debt Ceiling??? Platinum $1T Coins???
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BS: Debt Ceiling??? Platinum $1T Coins??? |
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Subject: BS: Debt Ceiling??? Platinum $1T Coins??? From: Bobert Date: 04 Jan 13 - 07:13 PM Hmmmmm??? I have been reading a little of an idea where Obama orders the minting of $1T platinum coins to use to pay the debts of the country... Is it legal... Well, yeah, it seems to be legal... The way the law reads is that he can't order the "printing" of money/currency but "commemorative coins" can be minted in any denomination... I'm not saying that Obama should do this but he has this option in his back pocket should the Repubs again threaten to take down the US government/economy... Advantage: Obama... B~ |
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Subject: RE: BS: Debt Ceiling??? Platinum $1T Coins??? From: Little Hawk Date: 04 Jan 13 - 07:25 PM Where will they find a vehicle large enough to transport a $1 Trillion dollar coin? Or is it just a symbolic denomination, like on our phony paper bills? If so, then they can make the coin any size they wish to. That's the old "We say it's worth this much, so it is." gambit. ;-) Very handy for those in charge of the manufacture of said item. Don't you wish YOU could do that? Well, you can! Get yourself a printing press, but make sure it's a damned good one, because high quality counterfeiting is not all that easy. The government wouldn't want it to be. A goldsmith friend of mine tells me that people are selling fake gold coins on Ebay. The coins are really brass or some other metal that's been cast in a mould taken off a real coin and then gold plated. You can only find out for sure by weighing them on an appropriate scale...or doing some surgery, and if it's a real coin you'll destroy its "collectible" value using the latter approach. |
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Subject: RE: BS: Debt Ceiling??? Platinum $1T Coins??? From: Q (Frank Staplin) Date: 04 Jan 13 - 07:42 PM You have, of course, bought the Canadian Maple leaf gold coin, 5 oz, limited to 200 copies, price $11,999.95. http://www.mint.ca/store/buy/gold_coins-cat120004 No fakes here! For the monetarily disadvantaged, there is the Canadian 1/25 oz gold coin featuring the Bluenose for $129.95 |
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Subject: RE: BS: Debt Ceiling??? Platinum $1T Coins??? From: Q (Frank Staplin) Date: 04 Jan 13 - 07:50 PM A few still available- Canada 1kg gold coin, 99.99% pure, featuring a moose, $69,000.00 |
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Subject: RE: BS: Debt Ceiling??? Platinum $1T Coins??? From: Bobert Date: 04 Jan 13 - 08:02 PM My thinking in that Obama could put Rush Limbaugh on the $1T coin... lol... B;~) |
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Subject: RE: BS: Debt Ceiling??? Platinum $1T Coins??? From: gnu Date: 04 Jan 13 - 08:03 PM I can't eat gold but I got a bo'le a mooze in the cupboard... Xmas gift. |
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Subject: RE: BS: Debt Ceiling??? Platinum $1T Coins??? From: Bobert Date: 04 Jan 13 - 08:11 PM Good point, gn-ze... Moose will get ya' thru times of no money better than money will get ya' thru times of no moose... B;~) |
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Subject: RE: BS: Debt Ceiling??? Platinum $1T Coins??? From: Little Hawk Date: 04 Jan 13 - 08:39 PM Having the real moose in the freezer is a good idea, for sure. Gold will work just fine unless the normal structures of our society completely, utterly collapse...as in the wake of a nuclear war or some other incredible overwhelming disaster that brings everything crashing to a halt. That's when you definitely need the moose, not the gold. But short of that, the gold will do very nicely at any time, and it retains its value as a tradeable commodity, and it doesn't take up much room in a safety deposit box. Yes, those Canadian Mint coins are the real deal, Q...but they're WAY overpriced! A 5 oz gold coin (.999 % pure gold) at today's price of gold (around $1,650 an ounce) should not cost you much more than its bullion content when sold at a fair price: $8,250.00 The Canadian Mint is skimming off a $3,750 profit on the sale of that 5 oz coin! I call that a sweet deal for them...a bad deal for me and you! There are some legitimate retail outlets who will sell .999 pure gold and silver bullion coins at a much fairer price than the Canadain Mint does. Two I know of...APMEX and SilverGoldBull.com |
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Subject: RE: BS: Debt Ceiling??? Platinum $1T Coins??? From: Bobert Date: 04 Jan 13 - 08:46 PM Gold only has value because we assign value to it... It, in itself, is completely worthless... You can't eat it... Other than jewelry it ain't a building material so it won't house you... Other than filling cavities it has no medical uses... Bottom line??? Gold ain't worth squat without humans assigning value to it... Hey, why not shark's teeth or dinosaur bones??? B~ |
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Subject: RE: BS: Debt Ceiling??? Platinum $1T Coins??? From: Little Hawk Date: 04 Jan 13 - 08:57 PM I've discussed that into the ground with you, Bobert, I don't agree with you about it, and I'm not going to waste more of my life arguing with you further about it. It's pointless. If we could talk in 3D life over a cup of coffee about it, then I'd bother...but here? Online? Nope. Too much other stuff I'd rather spend my time on, and to far better purpose. You can't eat time either, but boy! Can you ever waste it! |
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Subject: RE: BS: Debt Ceiling??? Platinum $1T Coins??? From: open mike Date: 04 Jan 13 - 09:04 PM I have also heard that the new one dollar coins have the words "In god we trust" removed...some say they will avoid using these or accepting these....the post office is one of the largest user of dollar coins... in change at stamp machines. Also gambling casinos, in "one armed bandits" machines. |
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Subject: RE: BS: Debt Ceiling??? Platinum $1T Coins??? From: Bobert Date: 04 Jan 13 - 09:04 PM Or kill it... lol... So, LH, you gotta a car??? They got roads down here and I figurate that about 3 days and I'll have yer curvy thinkin' straightened out... Kinda like drivin' a race car... Just gotta straighten the road and get into a groove... Don't bring Chongz... Bring pencils 'cause there will be a few quizes on basic economics... B;~) |
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Subject: RE: BS: Debt Ceiling??? Platinum $1T Coins??? From: Rapparee Date: 04 Jan 13 - 09:43 PM Ah, the current crop of $1.00 US coins have "In God We Trust" on them, printed around the edge. No plans to change it that I know of...just another rumor. Gold is excellent for a lot of things. For one, it's a great electrical conductor and you probably have gold-plated connections in your computer. Of course, it's not very thick and there's not a lot of it -- perhaps a milligram total. That's because pure gold can be made into sheets thinner than a sheet of the cheapest one-ply toilet paper you can imagine. I was in a sporting goods store this morning, looking at fishing lures and thinking about Spring (I don't do "hard water" fishing) and overheard a guy ask for a couple boxes of .22 bullets. The clerk had ONLY two and they were (I'm not making this up!) USD 7.00 per box of 50. Forget gold -- stockpile ammo. |
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Subject: RE: BS: Debt Ceiling??? Platinum $1T Coins??? From: Jack the Sailor Date: 04 Jan 13 - 10:04 PM I think the 1 T coins are a good idea because I think the "Debt Ceiling" is idiot. |
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Subject: RE: BS: Debt Ceiling??? Platinum $1T Coins??? From: Bobert Date: 04 Jan 13 - 10:12 PM Thank you, JtS... You get it... Others don't... They are still no further along in understanding "value" then the apes in the opening of "2001,A Space Odyssey"... B~ |
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Subject: RE: BS: Debt Ceiling??? Platinum $1T Coins??? From: gnu Date: 04 Jan 13 - 10:17 PM $7 fer 50 22s? Price of food here has quadrupled in less than 5 years. |
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Subject: RE: BS: Debt Ceiling??? Platinum $1T Coins??? From: Bobert Date: 05 Jan 13 - 10:01 AM I'm liking this idea more and more... The way it would work is that after Obama approves minting the coins and depositing them in the Federal Reserve Bank that he introduce legislation with two components... First, banning future executives from minting coins in denominations over, say, $100 and second, that Congress accepts that the US will pay its bills and that there will be no future votes on the debt ceiling... I like it a bunch... B~ |
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Subject: RE: BS: Debt Ceiling??? Platinum $1T Coins??? From: Q (Frank Staplin) Date: 05 Jan 13 - 03:04 PM Them's collector coins from the Canadian mint, not bullion. If you ain't a collector, you don't unnerstand. One can amass Canadian bullion coins but they are only worth bullion market value. |
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Subject: RE: BS: Debt Ceiling??? Platinum $1T Coins??? From: Nigel Parsons Date: 06 Jan 13 - 12:54 PM Little Hawk: A goldsmith friend of mine tells me that people are selling fake gold coins on Ebay. The coins are really brass or some other metal that's been cast in a mould taken off a real coin and then gold plated. You can only find out for sure by weighing them on an appropriate scale...or doing some surgery, and if it's a real coin you'll destroy its "collectible" value using the latter approach. Your goldsmith friend either doesn't know his job, or is having you on. A gentleman named Archimedes solved the problem of testing the density of objects which are claimed to be gold some 22 centuries ago. And the immersion of a collectable gold coin in water does it no harm at all. |
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Subject: RE: BS: Debt Ceiling??? Platinum $1T Coins??? From: Jack the Sailor Date: 06 Jan 13 - 02:30 PM "You can only find out for sure by weighing them on an appropriate scale." Isn't that a modern version of the Archimedes approach? |
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Subject: RE: BS: Debt Ceiling??? Platinum $1T Coins??? From: Bobert Date: 06 Jan 13 - 02:34 PM Wow, wouldn't it be something if Obama used a few counterfeit $1T coins to pay off the debt??? Talk about a fiscal cliff??? B;~) |
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Subject: RE: BS: Debt Ceiling??? Platinum $1T Coins??? From: Jack the Sailor Date: 06 Jan 13 - 02:38 PM Pelosi has an interesting tactic. The GOTP (Grand Old Tea Party) is being extremely immature about this. It is like not paying the mortgage because your spouse is buying too many shoes. |
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Subject: RE: BS: Debt Ceiling??? Platinum $1T Coins??? From: Bobert Date: 07 Jan 13 - 09:21 AM Yup, JtS... Obama has three options here and two are good and one is bad: Negotiate with Republicans on the US paying the bills they racked up from 2000 to 2008... Use the 14th amendment which says that the US will pay its debts... Pay them with $1T coins deposited into the Federal Reserve Bank... If Obama picks the first one then he shouldn't have been re-elected... B~ |
