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tiredstars t1_j28iypj wrote

Reply to comment by Derikoopa 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

Also it is possible for the government to create this money, then take it out of circulation. It produces a billion dollar coin, and then raises taxes (but not spending) by a billion dollars.

Of course, if you pay me $1bn for my debt, then immediately hit me with a $1bn tax, I'm not going to be very happy.

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