The $1,000,000,000,000 coin.

[draggar]

No joke.

http://www.cnn.com/2011/OPINION/07/28/balkin.obama.options/index.html?hpt=po_t2

[quote]Are there other ways for the president to raise money besides borrowing?

Sovereign governments such as the United States can print new money. However, there's a statutory limit to the amount of paper currency that can be in circulation at any one time.

Ironically, there's no similar limit on the amount of coinage. A little-known statute gives the secretary of the Treasury the authority to issue platinum coins in any denomination. So some commentators have suggested that the Treasury create two $1 trillion coins, deposit them in its account in the Federal Reserve and write checks on the proceeds.[/quote]

That's right, have a money issue? Just make more money!! I mean, if we tried to do that we would be thrown in jail for counterfeiting but hey, it's the government, they can do whatever they want!

This always works, right? I mean, just print more money so we have more of it to spend! it always works!

It worked in China in 1955!
It worked very well in Austria in 1922!
Brazil in 1994!
Germany in 1922/1923!
Greece in 1944!
Hungary in 1922-1924! (and again in 1945/6)
Mexico in 1982!
North Korea (now)
Post WWII Philippines!
Poland in 1921-4 and 1989-91
Russia in 1921-2
Yugoslavia in 1989
Zimbabwe in 2008-9!

See! it always works!!

(I guess they never heard of hyperinflation?)

[Maxwell]

To all who find hyperinflation to be an interesting topic, I would recommend you check out www.inflation.us. Very fascinating website. Their "College Conspiracy" video is absolutely fantastic if you've got an hour to spare.