A country being in debt is not a problem in and off itself, there are plenty of posts on this sub that go into that, so I won’t here, but what is a problem for an economy is if faith is lost in the currency and printing that much money would certainly do that. Money doesn’t have any value in and off itself, it only has value because we believe it does and that its a stable way to trade value. If the county is willing to create huge amounts at will to pay debt that erodes that faith in stability.

I'm one of these people. It's called the Arnold's reflex. I don't use q tips but use something like a Jonson Horne because I have very itchy ear canals.

Fascinating! I thought this idea was purely hypothetical Do we know what happened to them? I assume they are laying in some bank?

There were nine one million pound (sterling) notes issued in the UK in 1948. This was done for a short term to shore up the UK economy pending a loan from the USA.

When you say remove currency, do you mean in coins or across all facets like digital?

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

Those products don't set off security alarms. You can literally stand there playing catch across a security door with a can of Red Bull, and it won't set off the alarm, unless the store has put a security tag on it.

(Don't actually do this. While you won't set off the alarm, retail establishments generally don't appreciate these kinds of shenanigans.)

They can, but it's not always beneficial. A countries "debt" isn't the same as personal debt. The point of it is to remove some currency from circulation to help control inflation. Monetarily sovereign countries can pay it all off whenever they want.

[removed]

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

Fun fact: everywhere gets the same amount of daylight throughout the year. So while California is getting more sun than London right now, London will get more sun than California during the summer!

A Red Bull isn’t going to make the security system alarm go off. They only put tags on bigger more commonly stolen items. Most of the time if there is someone manning the door they’ll just wave you through unless you have unbagged items in your cart or any big ticket items.

First thing: this only works if your debt is denominated in your own currency. In other words, if you're the US and your debt is in US dollars, you can do this. If you're Argentina and your debt is in US dollars then you definitely can't mint a billion US dollar coin to pay it off.

>Presumably, because there's only 6 of them and they are taken out of the economy instantly, they wouldn't hyperinflate the currency?

There's the trick. Why do you say this money is taken out of the economy instantly? Let say the government owes me $1 billion and gives me one of these coins to pay off that debt. I'm not going to want to keep that coin locked away, I'm going to want to spend or invest it!

[removed]

I'm from Singapore and I have not seen a store with sensor at the exit. Let's say that if I paid at a counter and I leave the item there after that the cashier would call for me. Similarly if I paid using a self serve checkout as there would be staff around.

Assuming that I'm at an unmanned store it would be monitored by cameras and AI. From those that I have seen on videos after paying I would need to exit the store. If I were to leave without my Redbull like you said and return to grab another I think the system would just take it that I am performing a new transaction and flag out that I'm leaving the store with an unpaid item.

No, you can't just declare that a thing is worth a billion dollars if you've got nothing to back it up.

Even the shadiest of financial schemes like NFTs have an idea and a market that may decide an NFT that has no inherent value has a tradeable value, but there has to be something that will persuade other countries that the coin can be converted into a billion dollars.

In this case I assume it would be Reddit themselves who declare your comment was worth a million

I now declare this comment to be worth $1,000,000. I can sell it to you for $1,000. You wanna buy it?

>taken out of the economy instantly

They wouldn’t be. Paying debts with printed money by definition is injecting money into the economy. You would “take it out” by a central bank exchanging it for the same value in cash, created by printing new cash.

Anyways this idea has been floated, particularly in 2013. Ultimately the problem is no one knows what would happen. Classical economics says we would see a mass loss of faith in the currency alongside the natural inflation added supply creates. Issue is no one knows anything about economics anymore since classical economics has been shown over this past century to not be entirely correct and it’s a bit of a fear of the unknown at this point. I would imagine we would see significant inflation still, but how much is something only god knows.

The coin itself is not important. No one realistically is going to use it to pay anything. The only reason the coin is important is that it essentially acts as a “voucher” to be exchanged for a truckload of regular cash if by no one else then the central bank. In the end the effect is just a slightly more ceremonial way of printing a truckload of Benjamins.

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?

What makes the coin worth a billion dollars? Nobody will accept it if there's nothing to back-up that valuation.

Lol you must be a cop.

Stocks are ownership shares in a company. Anyone can buy a share in a public (ie available to the public, a simplified definition) company. For example owning 100 shares on issue of Company X out of 1000 total shares gives you a 10% ownership stake. You’re entitled to 10% of the dividends paid out of profits, and can vote at shareholder meetings etc.

A stock exchange is a market that matches buyers an sellers of company shares (“stock/s” and “shares” are generally used interchangeably). It facilitates transactions between different shareholders and stands in the middle of a buy and sell trade to effectively make it happen (now with technology backing these transactions to make it all run smoothly, again a simplified example).

At any given time there will be buyers and sellers of a stock at certain prices. For example if Company X stock last traded at $100, on the stock exchange there may be bids to buy at $99 and offers to sell at $101 - in order to transact on either side you need to “cross the spread”, which will move the price up or down by 1%. This is how stocks move. Smaller stocks generally have wider spreads, trade less, and therefore are more volatile than larger stocks.

Traditionally to access a stock exchange you needed a dedicated broker (a real person at a company) but now with technology virtually anyone can access the market cheaply and easily via online brokers, at least for individuals trading relatively small values vs institutional shareholders.

[removed]

It wasn't just the scream. At the time, his speech made him seem unhinged and unstable. It gave the impression that he was another maverick like McCain.

While the speech was actually well received by his core supporters, Dean needed to broaden his appeal and project that he's a serious, rational leader fit for the presidency and all of the responsibilities that it entailed.

Instead managed to convey the complete opposite. His aides tried to blame the microphones, argued that the clips were doctored to make him look bad, etc., but in any case voters thought that he was "unpresidential" and he completely tanked in the subsequent primaries.