As a little bit of education, the concept of printing money for financing the government is
A) not a new and desperate idea to deal with deficitB) A crazy left wing idea.
The concept had existed essentially since the depression in Canada, http://en.wikipedia.org/wiki/Social_Credit_Party_of_Canada
Originally a right wing idea, the concept is that by making simply printing money and giving it the government could eliminate all taxes at the expense of inflation.*****************************************************************However this idea by many is believed flawed, This is due to the nature that there is no guarantee as to how much the government would print, as a result the dollar is effectively believed not only to have lost the value of what is printed but also of what could be printed, in other words the dollar has lost all value.
That said a 1 time trillion dollar coin might not have such an effect when you consider the competition
The Japanese Yen, which due to a deflation spiral has been used mainly to exchange for other currency***************************************************************The Chinese Renminbi, If you think that 1 trillion dollars is manipulating currency you will have a heart attack****************************************************************The Euro…. I’m presuming this needs no explanation****************************************************************The indian Rupee, Massive inflation, highly manipulated. Trying to switch over would be the same as putting hand to try to clear a blender.
However it may not be a good idea to gamble the entire currency when a 2% marginal tax raise may be viable.
As a little bit of education, the concept of printing money for financing the government is
A) not a new and desperate idea to deal with deficitB) A crazy left wing idea.
The concept had existed essentially since the depression in Canada, http://en.wikipedia.org/wiki/Social_Credit_Party_of_Canada
Originally a right wing idea, the concept is that by making simply printing money and giving it the government could eliminate all taxes at the expense of inflation.*****************************************************************However this idea by many is believed flawed, This is due to the nature that there is no guarantee as to how much the government would print, as a result the dollar is effectively believed not only to have lost the value of what is printed but also of what could be printed, in other words the dollar has lost all value.
That said a 1 time trillion dollar coin might not have such an effect when you consider the competition
The Japanese Yen, which due to a deflation spiral has been used mainly to exchange for other currency***************************************************************The Chinese Renminbi, If you think that 1 trillion dollars is manipulating currency you will have a heart attack****************************************************************The Euro…. I’m presuming this needs no explanation****************************************************************The indian Rupee, Massive inflation, highly manipulated. Trying to switch over would be the same as putting hand to try to clear a blender.
However it may not be a good idea to gamble the entire currency when a 2% marginal tax raise may be viable.