Our Bullshit Economy: Trillion Dollar Coin Edition

Ridicule from attempting to execute the idea of the trillion dollar coin would be long lasting and worldwide.

In my latest podcast, I tackle several subjects, the most prominent of which is why I think - better yet, why I know - the idea of minting a trillion dollar coin to avoid the nation’s debt ceiling is as insulting as it is inane.

In fact, the idea is so colossally stupid, even Treasury Secretary Janet Yellen, who has one way or the other been involved in a decade of incessantly harmful monetary policy, called it a “gimmick”.

The ridicule from attempting to execute the idea of the trillion dollar coin would be long lasting, worldwide and may not ever be lived down by our country, as I noted on Twitter yesterday.

Quoth the Raven @QTRResearch

Our dear 245 year old republic, in its history, will never have been met with such thunderous ridicule, far-reaching derision & totally justified scorn as we would bring unto ourselves the moment we take a $1100 platinum coin & try to tell the world it's worth a trillion dollars.

On my latest podcast, I discuss:

• why the trillion dollar coin is beyond stupid, and why those responsible for advocating for it are just as stupid

• why replacing Jerome Powell as Fed chair with someone equally, or more dovish, is just rearranging deck chairs on the Titanic

• some of the latest developments in the world of Covid that prove “conspiracy theorists” who questioned the government’s narrative may not have been so conspiratorial after all

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You can listen to my latest podcast, free, in its entirety, here: