Fox News once again proves how dumb it is

So per Fox News:

http://s3.amazonaws.com/dk-production/images/15052/large/fiatstupid.jpg?1357854173


So does the paper in a $100 bill cost 100 times more than the paper in a $1 bill? How many pounds of paper should be in a $100 bill according to their logic? I am guessing somewhere around 200 pounds? Actually, 400 pounds would probably be closer.

I find your subject line offensive. You are only trying to show how brilliant you are right?

They aren't the brightest bulbs in the package, are they?...But then, that's not new information....

Maybe Fox is just trying to point out how much a trillion dollars actually is. Platinum is a very rare expensive metal but a trillion dollars of it would still be a huge cube. How big would a trillion dollar cube of gold be? And we add that in debt every year. It is like going to a big brunch at the Briarwood and telling the waiter to give the check to the kid in the high chair. "Sorry kid not only is there no money for college but your paying for my retirement and healthcare."

A trillion dollar coin would have to actually be worth a trilion dollars right? Would you buy a gold coin that wasn't worth it's weight in gold? They were just making a point and some people need to find an outrage. making a trillion dollar coin that isn't worth a trillion is just another way of printing money and destroying the value of the dollar. Why is this so difficult to understand?

Heisenberg wrote: A trillion dollar coin would have to actually be worth a trilion dollars right? Would you buy a gold coin that wasn't worth it's weight in gold? They were just making a point and some people need to find an outrage. making a trillion dollar coin that isn't worth a trillion is just another way of printing money and destroying the value of the dollar. Why is this so difficult to understand?

Really? First, you do understand the concept of currency, don't you? That a one dollar bill is not made of a dollar's worth of paper, that a quarter is not made of .25 dollar worth of metals. Second, there are no gold coins in the US currency system. Those gold 'coins' perhaps you have been watching too much Fox news.

The liberals here are so used to fiat money, they don't understand that originally the money you coined was supposed to suppose to be the actual value.

Inflation didn't happen when goverment wanted it to by printing money, inflation would happen when a huge amount of gold or silver was found. When the Spaniards brought all the gold from the New World it totally messed up the economy, triggering massive inflation.

The trillion dollar platinum coin idea is just a variant of the more used one of printing more money, or as called these days QE3. People are laughing at the coin idea, but we have been doing the same thing for decades.

Something the Dog Said wrote:

Heisenberg wrote: A trillion dollar coin would have to actually be worth a trilion dollars right? Would you buy a gold coin that wasn't worth it's weight in gold? They were just making a point and some people need to find an outrage. making a trillion dollar coin that isn't worth a trillion is just another way of printing money and destroying the value of the dollar. Why is this so difficult to understand?

Really? First, you do understand the concept of currency, don't you? That a one dollar bill is not made of a dollar's worth of paper, that a quarter is not made of .25 dollar worth of metals. Second, there are no gold coins in the US currency system. Those gold 'coins' perhaps you have been watching too much Fox news.

You have no idea what I watch so you can put that little assumption away. Secondly, I do understand currency and that a dollar bill isn't worth a dollars worth of paper. I think the point Fox was making is that a trillion dollar coin would just be a gimick. This trillion dollar coin would have no significant value and would be no different than printing another trillion dolllars... the only way it would be different is if it was actually worth it's weight in platinum. What did I say that was incorrect?

LadyJazzer wrote: The cons still don't get that what was "originally" the case about the value of coinage is not the case today...Living in the past is what got them into the irrelevant state they're in now.

Yep, Dog is right... You guys don't have a clue about the concept of money.

What's the difference between printiing a trillion dollars and making a trillion dollar coin?

Something the Dog Said wrote:

Heisenberg wrote: A trillion dollar coin would have to actually be worth a trilion dollars right? Would you buy a gold coin that wasn't worth it's weight in gold? They were just making a point and some people need to find an outrage. making a trillion dollar coin that isn't worth a trillion is just another way of printing money and destroying the value of the dollar. Why is this so difficult to understand?

Really? First, you do understand the concept of currency, don't you? That a one dollar bill is not made of a dollar's worth of paper, that a quarter is not made of .25 dollar worth of metals. Second, there are no gold coins in the US currency system. Those gold 'coins' perhaps you have been watching too much Fox news.

Incorrect again. There are US gold pieces still being minted that you can use as legal currency. But you would get screwed on the deal, you can buy a $20 US gold piece but you would have to pay more than $1600 for it from the Feds.