Now with all due respect to Mr. Engvall I think I'm gonna have to borrow his bit and award a few signs myself, starting with the Republican party
Turns out that for all their talk of being the fiscally responsible party, the GOP doesnt actually understand WHAT money is.
See this is a picture that really did come from The National Republican Campaign Committee's twitter account
Any one see the problem? anyone?
Well let me help you out. This is not what 5 cents worth of nickel would actually look like or weight or how big it would be (assuming the picture was to scale):
Thats why in this picture the smallest coin is not worth least money:
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Unless your a republican, they actually tend to throw dimes away cause something that small is useless, unlike the larger and more valuable penny.
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And yes I know anyone over the age of two or three knows all this stuff. Well unless your a republican.
By the way I should probably mention at some point exactly what the National Republican Campaign Committee (NRCC) is: Its a group run entirely by elected republican members of House of Representatives, to elect more republicans to the House. (the Democratic version would be the DCCC if anyone cares). In fact one of their leaders (fundrasing chairman) is defeated VP nominee Paul Ryan. As is the chairman of the United States House Committee on Financial Services, Jeb Hensirling (vice chairman for finance).
So you can see why its a bit distressing these guys have no freaking clue how money actually works.
See what makes the platinum "trillon dollar coin" worth a trillion dollars is because we say its worth a trillion dollars, not because its made from a trillion dollars worth of anything. In fact the only reason its even made out of platinum is because it has to be to exploit the loop hole in the law that allows the Treasury to mint it. If it wasnt for that loop hole we could easily make that thing out of aluminum.
And by the same token we can make it as large as we want. We could make it half the size of a dime, or 20X the size of the Half-Dollar, there really are no rules on these things. Again hence why the dime, worth twice the nickle is half its size, and both are 75% copper 25% nickel.
We can easily take a 1/8th of an ounce of platinum (Which I assume might be worth say a dollar) mint that into a coin (and mix it with some copper to make it whatever size we want) print "in god we trust" and "Trillon Dollars" on the coin and boom its a trillon dollar coin, even though its only worth maybe 2 dollars.
Why because we say so. You give us the coin, we pledge to give you 1 trillion dollars (which are made on paper just FYI, so no value to them at all). Its basically just a "marker" for what you can get in exchange. And you would then take that paper money and trade it for goods and services (or use the trillion and hope they had enough change :P )
Cause thats how Fiat Currency has always worked all the way back to the days of the "colonial" the early paper currency of the New World Colonies of Great Britain (AKA the future US). Like today's money it was a piece of paper said to be worth something. Hell even back when we used the Gold Standard for our money we didnt make any money out of gold, that was what the money could be exchanged for (instead of paper), NOT what the money was made out of.
So this is not a recent or even hard development to grasp. Except for the party that shouts all the time about balancing the budget.
Maybe they actually think their is a giant stack of metal that reaches way up into the sky and is worth the entire value of the US debt and they want to balance it because if they dont, it might fall over and crush some body.....
Oh and btw the way lest people think stupid isnt contagious, FOX news just aired this :
By the way I should probably mention at some point exactly what the National Republican Campaign Committee (NRCC) is: Its a group run entirely by elected republican members of House of Representatives, to elect more republicans to the House. (the Democratic version would be the DCCC if anyone cares). In fact one of their leaders (fundrasing chairman) is defeated VP nominee Paul Ryan. As is the chairman of the United States House Committee on Financial Services, Jeb Hensirling (vice chairman for finance).
So you can see why its a bit distressing these guys have no freaking clue how money actually works.
See what makes the platinum "trillon dollar coin" worth a trillion dollars is because we say its worth a trillion dollars, not because its made from a trillion dollars worth of anything. In fact the only reason its even made out of platinum is because it has to be to exploit the loop hole in the law that allows the Treasury to mint it. If it wasnt for that loop hole we could easily make that thing out of aluminum.
And by the same token we can make it as large as we want. We could make it half the size of a dime, or 20X the size of the Half-Dollar, there really are no rules on these things. Again hence why the dime, worth twice the nickle is half its size, and both are 75% copper 25% nickel.
We can easily take a 1/8th of an ounce of platinum (Which I assume might be worth say a dollar) mint that into a coin (and mix it with some copper to make it whatever size we want) print "in god we trust" and "Trillon Dollars" on the coin and boom its a trillon dollar coin, even though its only worth maybe 2 dollars.
Why because we say so. You give us the coin, we pledge to give you 1 trillion dollars (which are made on paper just FYI, so no value to them at all). Its basically just a "marker" for what you can get in exchange. And you would then take that paper money and trade it for goods and services (or use the trillion and hope they had enough change :P )
Cause thats how Fiat Currency has always worked all the way back to the days of the "colonial" the early paper currency of the New World Colonies of Great Britain (AKA the future US). Like today's money it was a piece of paper said to be worth something. Hell even back when we used the Gold Standard for our money we didnt make any money out of gold, that was what the money could be exchanged for (instead of paper), NOT what the money was made out of.
So this is not a recent or even hard development to grasp. Except for the party that shouts all the time about balancing the budget.
Maybe they actually think their is a giant stack of metal that reaches way up into the sky and is worth the entire value of the US debt and they want to balance it because if they dont, it might fall over and crush some body.....
Oh and btw the way lest people think stupid isnt contagious, FOX news just aired this :
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| Here's Your Sign |
Once again for those in "special class" (FOX) THATS NOT HOW IT WORKS!!!!!!
Now can we as a country all agree its time to stop listening to Republicans/fiscal conservatives about anything related to finances or money. I mean they dont even under stand what money IS, so I dont think we can honestly expect them to know how it works.
Now can we as a country all agree its time to stop listening to Republicans/fiscal conservatives about anything related to finances or money. I mean they dont even under stand what money IS, so I dont think we can honestly expect them to know how it works.
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