Friday, January 4, 2013
Economic Lunacy - Trillion Dollar coin
http://economy.money.cnn.com/2013/01/04/platinum-coin-debt-deiling/?hpt=hp_t2
Sorry, but idiocy at it's worst - well - ballpark anyway.
Sure, create a Trillion Dollar coin and thereby cause some hyperinflation - good strategy. Go to the store to buy milk, the cost per gallon will go up between the time you enter the store and the moment you actually get to the check-out. There might be some exaggeration there, but one gets the idea; creating more money out nowhere simply devalues it to the point of worthlessness. Great way to destroy wealth.
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