View of the good, the bad, and the in-between from Pattaya and beyond
Monday, January 7, 2013
The Reefer Standard For The Dollar
Bloomberg News' Josh Barro congratulated GOP Representative Jerrold Nadler's suggestion that President Barack Obama solve our 'alleged' debt crisis by minting a trillion-dollar coin.
"I'm being absolutely serious. It sounds silly but it's absolutely legal. And it would normally not be proper to consider such a thing, except when you're faced with blackmail to destroy the country's economy, you have to consider things."
Twenty of them would cover the monetary shortcomings into the next century, although there are few people on this planet wealthy enough to buy such a coin.
The richest man on the world is Carlos Slim, a Mexican-Lebanese, whose combined wealth from communications, technology, retailing, finance, and drug laundering comes to less than $100 billion.
The billionaires of the world barely have $4 trillion.
The real money remains in the hands of the banks, who resist the idea of debt relief to safeguard their filthy lucre.
Personally I believe in back the dollar on the weed or marijuana standard, for platinum has no value other than what speculators declared it to be worth.
We all like reefer and we ain't paying any taxes on it either.
Fuck the GOP.