Frequent Contributor
Posts: 311
Registered: ‎04-21-2012
Re: Put the federal cliff in perspective

The idea behind the trillion dollar coin is not to actually pay with the coin but it would be a monetary slight-of-hand to sidestep the artificial debt ceiling limit law.  It doesn't actually create or pay down debt in and of itself.  If it did it would exactly the same as printing money which would devalue the dollar.  This is just a mechanism to get past another mechanism akin to passing another law to eliminate the first law.  At least that's my take on it.  :smileyhappy:

Starting Score: 676 Feb 2008; Current Score: 775 EQ, 814 TU, July 2014; Goal Score: 785 by end of year
Oldest Account reported by EQ: 12.0 years; EQ AAoA: 5.3 years; EQ Credit Utilization: 2.7%