Joe Doakes from Como Park emails:
No less respected economist than Paul Krugman is recommending the US pay down its national debt by minting a Trillion-Dollar Coin. He suggests it be made of platinum because that’s really valuable. I say it should be rubber, not only because “rubber check” accurately captures its value, but because there’s precedent.
Hitchhiker’s Guide to the Galaxy:
“Its exchange rate of eight Ningis to one Pu is simple enough, but since a Ningi is a triangular rubber coin six thousand eight hundred miles along each side, no one has ever collected enough to own one Pu. Ningis are not negotiable currency, because the Galactibanks refuse to deal in fiddling small change.”
Obviously, we won’t call it a Ningi, that sounds weird (and we’d owe Doug Adams royalties). We’ll call it a $1 trillion dollar coin. But why stop at one? Why not go all out and issue 16 trillion-dollar coins to pay off the entire national debt completely?
And while we’re at it, why not raise the minimum wage to $100 so we’ll all be rich? And throw in free cosmetic surgery, paid for by Obamacare.
Rich, handsome, debt free . . . now THAT’s the kind of Hope and Change I was looking for.
I’m afraid to ask an esteemed economist like Prostetnic Vogon Krugman how we’re going to pay for a trillion dollars worth of platinum – or what that’ll do to the world’s platinum supply.