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Could Obama do that trillion dollar coin gimmick?
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Sep 26, 2015 02:12
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I predicted Boehner resigning. Next on my wishlist is a ten year budget.
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Sep 26, 2015 02:13
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Crowsbeak posted:Could Obama do that trillion dollar coin gimmick? Let's put it this way. In order for him to both feel like he had to do it and to actually make it happen he would pretty much have to be on the very last hour of the very last day looking out the window at a country about to collapse into civil war and ruin if he wanted to do it without people impeaching him.
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Sep 26, 2015 02:14
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Nintendo Kid posted:The Ruble's in the toilet, the chinese currency isn't freely convertible, the Euro is also pretty hosed. Also the ruble and Chinese money have significant backing from dollars and dollar-denominated instruments. Comments like these make me envision the inevitable Zerohedge article about how default will inevitably lead to the destruction of the petrodollar, but now with the added twist of everything collapsing due to how the world economy is poised. Also how this means you should buy gold and/or Bitcoins.
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Sep 26, 2015 02:16
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McDowell posted:But if we do default and the economy shits the bed it is all Obama's fault. Might as well let the world burn during an election year so you can try to pin it on the other side, right?
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Sep 26, 2015 02:16
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reignofevil posted:Let's put it this way. Well, he's got nothing else to lose, he'll save the ecconomy and its a chance to poo poo in the tea parties cereal.
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Sep 26, 2015 02:17
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Crowsbeak posted:Could Obama do that trillion dollar coin gimmick? The only way the trillion dollar coin works is if you can convince enough of the big players in the market to accept it as 'legit'.
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Sep 26, 2015 02:18
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To put in perspective how important the US Dollar is consider that it has value literally everywhere on the planet. You can get things for US dollars in North Korea. No other currency is anywhere even close to being so supreme. Can't buy poo poo outside of Russia or China with the ruble or yuan.
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Sep 26, 2015 02:19
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Raskolnikov38 posted:The only way the trillion dollar coin works is if you can convince enough of the big players in the market to accept it as 'legit'. Correct me if I am wrong but there are literally no state-level actors who benefit from a US default, right? So wouldn't convincing them be the least of Obama's worries in this hypothetical?
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Sep 26, 2015 02:20
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I love the idea of a trillion dollar coin just because of how hilarious it is. Like do they make a coin, write "$1 trillion" on it, and then put it in a vault somewhere forever?
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Sep 26, 2015 02:22
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RoboChrist 9000 posted:Correct me if I am wrong but there are literally no state-level actors who benefit from a US default, right? So wouldn't convincing them be the least of Obama's worries in this hypothetical? State level yeah, mega huge investing corporation? Who knows.
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Sep 26, 2015 02:23
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Fojar38 posted:I love the idea of a trillion dollar coin just because of how hilarious it is. Like do they make a coin, write "$1 trillion" on it, and then put it in a vault somewhere forever? I can see this being an onion article. "Obama asks 7/11 clerk if he has change for trillion dollar coin."
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Sep 26, 2015 02:24
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Fojar38 posted:I love the idea of a trillion dollar coin just because of how hilarious it is. Like do they make a coin, write "$1 trillion" on it, and then put it in a vault somewhere forever? That's pretty much how our money works, yeah.
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Sep 26, 2015 02:25
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Absurd Alhazred posted:I guess it's good to be King of Currency. hegemony has its benefits. lets us use deficit spending at a rate no one else can match since everyone benefits from the usd as the reserve currency.
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Sep 26, 2015 02:25
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Cat Army 
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Joe the Strummer posted:I can see this being an onion article. Cue "Obama asks America for change" jokes.
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Sep 26, 2015 02:26
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Crowsbeak posted:Could Obama do that trillion dollar coin gimmick? No, unless he want's the be impeached.
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Sep 26, 2015 02:26
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It's not fiat money if you can't create it by fiat.  Venom Snake posted:No, unless he want's the be impeached. What would be the grounds for impeachment?
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Sep 26, 2015 02:29
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Venom Snake posted:No, unless he want's the be impeached. I almost wonder if Obama cares.
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Sep 26, 2015 02:30
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I mean this is sort of a moot point in my opinion because I don't think the GOP cares as much about Planned Parenthood right now as they did about Obamacare back in 2013. In 2013 they needed to kill Obamacare right then and right there because they knew that once it became part of the fabric of US social security it would be impossible to get rid of. Planned Parenthood isn't going to stop being red meat anytime soon so they can bring it to the last few days and then say "Oh well we don't want to ruin peoples Christmas" and pass a debt ceiling raise promising to "continue the fight" at some undefined later time.
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Sep 26, 2015 02:30
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Absurd Alhazred posted:What would be the grounds for impeachment? Showing the world just how loving incompetent our government is.
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Sep 26, 2015 02:30
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PP is just the excuse this time. It's not nearly the kind of thing that drives all conservatives into a frothing rage like Obamacare did. Even they've mostly conceded that battle now. I do have a bad feeling that if McCarthy gets the support of the Tea Party, he will probably do so with the string attached of him having to go through with their crazy plan or cough up the job.
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Sep 26, 2015 02:31
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Raskolnikov38 posted:Showing the world just how loving incompetent our government is. Don't you need something concrete to start article of impeachment? Would he be overstepping his authority in any way? He has the mint, and Congress did authorize all these expenses, while denying the increase of debt.
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Sep 26, 2015 02:32
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FlamingLiberal posted:PP is just the excuse this time. It's not nearly the kind of thing that drives all conservatives into a frothing rage like Obamacare did. Even they've mostly conceded that battle now. Hopefully the latter so we can be one step closer to Speaker Gohmert.
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Sep 26, 2015 02:33
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Absurd Alhazred posted:Don't you need something concrete to start article of impeachment? Would he be overstepping his authority in any way? He has the mint, and Congress did authorize all these expenses, while denying the increase of debt. No, you can impeached for anything Congress feels like since 'high crimes and misdemeanors aren't constitutionally defined'.
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Sep 26, 2015 02:33
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I feel like in a Gohmert Speakership he would do all of his business over his office BBQ grill in the windowsill.
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Sep 26, 2015 02:34
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Raskolnikov38 posted:No, you can impeached for anything Congress feels like since 'high crimes and misdemeanors aren't constitutionally defined'. How many Democrats would want "impeached first black president" on their political resumes?
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Sep 26, 2015 02:35
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Absurd Alhazred posted:It's not fiat money if you can't create it by fiat. It violates the checks and balance system by allowing the Executive branch to steamroll over the Legislative's power over appropriations. Fojar38 posted:How many Democrats would want "impeached first black president" on their political resumes? A trillion dollar coin sets a bad enough precedent that I don't think they would mind.
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Sep 26, 2015 02:36
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QuoProQuid posted:It violates the checks and balance system by allowing the Executive branch to steamroll over the Legislative's power over appropriations. except the legislature gave the executive that power
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Sep 26, 2015 02:37
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Absurd Alhazred posted:What would be the grounds for impeachment? He did a thing of questionable legality. No no, not the trillion dollar coin, using the 2001 AUMF (which authorises military force against those responsible for the attacks on September 11, 2001) as justification for blowing up ISIL in Iraq and Syria. Wait... 
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Sep 26, 2015 02:37
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QuoProQuid posted:It violates the checks and balance system by allowing the Executive branch to steamroll over the Legislative's power over appropriations. But it's not. The appropriations were approved by Congress. Congress is simply closing the option of creating more debt, leaving the executive with no choice but to use the mint to implement the policy decided upon by Congress. As for the mint itself: euphronius posted:except the legislature gave the executive that power
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Sep 26, 2015 02:38
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fade5 posted:
Obama actually asked for a new AUMF lol!!
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Sep 26, 2015 02:38
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fade5 posted:
Why aren't they doing that now, then? Why are they waiting for the $T coin?
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Sep 26, 2015 02:39
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QuoProQuid posted:
In what possible way? The only precedent it sets is "the debt limit not rising when appropriations are legislated is dumb bullshit".
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Sep 26, 2015 02:41
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Nintendo Kid posted:In what possible way? The only precedent it sets is "the debt limit not rising when appropriations are legislated is dumb bullshit". "Play chicken with the national debt all you want because the President will bail everyone out with monetary sorcery."
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Sep 26, 2015 02:41
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Absurd Alhazred posted:What would be the grounds for impeachment? You don't need grounds for impeachment. But if you seriously think the GOP controlled house and senate wouldn't jump at the chance to put "Impeached B.O." on their resume than lol. Obama shouldn't do the trillion dollar coin thing because the default would destroy the GOP and teach everyone a very valuable lesson of why you don't loving leave this poo poo up to congress.
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Sep 26, 2015 02:43
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Absurd Alhazred posted:Why aren't they doing that now, then? Why are they waiting for the $T coin? euphronius posted:Obama actually asked for a new AUMF lol!! They'd (hypothetically) impeach Obama over the Trillion Dollar Coin because he foiled their plans by using it and as a result ended up saving the world economy, not because they think he broke the law (besides being a Democrat in the White House, of course).
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Sep 26, 2015 02:43
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You need a lot more than just a majority in congress to impeach a president.
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Sep 26, 2015 02:44
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Fojar38 posted:You need a lot more than just a majority in congress to impeach a president. To convict yes, to simply start impeachment trials is a simple majority in the House.
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Sep 26, 2015 02:46
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Fojar38 posted:"Play chicken with the national debt all you want because the President will bail everyone out with monetary sorcery." Uh that's the point, dude, it's no longer possible to play chicken with the national debt. You do that, you mint the trillion dollar coin, and playing chicken is no longer possible absent installing a president who won't do the coin again if needed. Like you do understand we didn't have a non-auto-raising debt limit before like 2 decades ago, right? If you legislated appropriations in excess of revenue, the debt limit automatically raised, no room for idiot fights.
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Sep 26, 2015 02:47
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| # ? Jun 2, 2024 10:46 |
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Fojar38 posted:You need a lot more than just a majority in congress to impeach a president. Impeachment proceedings or just a law suit could do a shitload of damage. You have to understand most of the congressmen and senators in the modern GOP really don't understand how anything works.
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Sep 26, 2015 02:47
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