Derikoopa
Derikoopa OP t1_j28ezbc wrote
Reply to comment by Itay1708 in eli5: Why couldn't a country in debt mint a coin of immense value and use it to pay off the debt? by Derikoopa
True, I suppose it's not viable in the event that a country owes money to an individual. But against countries or banks? I'm not so sure
Derikoopa OP t1_j28e8yp wrote
Reply to comment by mikeholczer in eli5: Why couldn't a country in debt mint a coin of immense value and use it to pay off the debt? by Derikoopa
Couldn't the argument be made that a ridiculous amount of debt also reduces faith in the currency?
Derikoopa OP t1_j28dteb wrote
Reply to comment by icydee in eli5: Why couldn't a country in debt mint a coin of immense value and use it to pay off the debt? by Derikoopa
Fascinating! I thought this idea was purely hypothetical Do we know what happened to them? I assume they are laying in some bank?
Derikoopa OP t1_j28dlnw wrote
Reply to comment by ZombieCupcake22 in eli5: Why couldn't a country in debt mint a coin of immense value and use it to pay off the debt? by Derikoopa
When you say remove currency, do you mean in coins or across all facets like digital?
Derikoopa OP t1_j28dh1b wrote
Reply to comment by tiredstars in eli5: Why couldn't a country in debt mint a coin of immense value and use it to pay off the debt? by Derikoopa
I hadn't considered international currencies. Perhaps you could mint your own country's currency according to the exchange rate?
I will say you've got me regarding the economy. I suppose I was thinking of debt as a human being, that if we are all in debt, then we all have negative money. Therefore, once the coin had been sent to the central bank, it would just kinda.... exist or something xP
Derikoopa OP t1_j28d7db wrote
Reply to comment by yalloc in eli5: Why couldn't a country in debt mint a coin of immense value and use it to pay off the debt? by Derikoopa
Thank you! I'm imagining the economic nightmare of trying to pay for your weekly shop, and all you have is a 1 billion dollar coin xP Man, I thought my billion dollar coin idea was ludicrous, but according to your link, I should have been thinking in the trillions xP
Derikoopa OP t1_j28cmrw wrote
Reply to comment by Belzeturtle in eli5: Why couldn't a country in debt mint a coin of immense value and use it to pay off the debt? by Derikoopa
In this case I assume it would be Reddit themselves who declare your comment was worth a million
Derikoopa OP t1_j28ca20 wrote
Reply to comment by simoncowbell in eli5: Why couldn't a country in debt mint a coin of immense value and use it to pay off the debt? by Derikoopa
Surely, if it's a country decision lt's gone through a treasury, then at the very least, the people in charge of the currency that this country uses have declared it to be worth a billion?
Derikoopa OP t1_j291ybw wrote
Reply to comment by Just_Jen_1 in eli5: Why couldn't a country in debt mint a coin of immense value and use it to pay off the debt? by Derikoopa
This makes sense in terms of a currency backed by the gold standard, but since that doesn't really exist anymore is it still relevant?