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branjo
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Slovakia
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Re: The trillion dollar platinum coin

No, the highest value on a banknote was an hungarian pengo :
1.000.000.000.000.000.000 writed on a banknote


[ot]I am looking forward to seeing WCG achieving this number of FLOPS's smile [/ot]
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Crunching@Home since January 13 2000. Shrubbing@Home since January 5 2006

[Jan 13, 2013 8:59:15 PM]   Link   Report threatening or abusive post: please login first  Go to top 
Hypernova
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Audaces Fortuna Juvat ! Vaud - Switzerland
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Re: The trillion dollar platinum coin

No, the highest value on a banknote was an hungarian pengo :
1.000.000.000.000.000.000 writed on a banknote


[ot]I am looking forward to seeing WCG achieving this number of FLOPS's smile [/ot]



In short 1'000 PetaFlops.
In five years time we should be there. smile
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[Jan 14, 2013 8:34:18 PM]   Link   Report threatening or abusive post: please login first  Go to top 
branjo
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Re: The trillion dollar platinum coin

I hope it will be much sooner, only if programmers find a way to write application which will better utilize our crunchers praying

For example, my low-end 7750 GPU's peak is 2.1 TFLOPS (according to BOINC Manager 7.0.42), its Single Precision computing power (according to AMD) is 819 GFLOPS. Despite this, its performances for WCG combined with 12 quite good CPU threads is only 378 GFLOPS Single Precision (according to SNURK). Based on my calculation, GPU alone performing with 85% of total, so GPU result is 321 GFLOPS. It is less than 40% vs. AMD entry.

I am guessing for your high-end GPU's it could be even lower percentage thinking

Cheers peace
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Crunching@Home since January 13 2000. Shrubbing@Home since January 5 2006

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[Edit 1 times, last edit by branjo at Jan 14, 2013 9:14:08 PM]
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Khyron
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shock Re: The trillion dollar platinum coin

1. Despite having the name "Federal" in it the name, the Federal reserve banks are privately owned. They do not have to accept "funny money" the Treasury may create. (This is why Bernanke could tell congress to "get lost" more than once)

2. I'm not sure it's a brilliant idea to follow in the footsteps of other countries that tried inflating their way out of debt.

Hyperinflation
that One Hundred Trillion? Worth at best US $300, and that value didn't even stay long given inflation.
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Former Member
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Re: The trillion dollar platinum coin

i have this note in my collection !!! impressive and useful only to buy a t shirt and a jean, in zimbabwe between january and march 2009
[Jan 14, 2013 11:16:47 PM]   Link   Report threatening or abusive post: please login first  Go to top 
PecosRiverM
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Re: The trillion dollar platinum coin

Of course if you read the article, you'll see that the president actually has the power under the 14th amendment to tell Congress to stuff it anyway, but he's already said that he won't do that.


I don't quite understand where. Quoted from your link:


Section IV of the 14th Amendment states:

Section 4. The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned. But neither the United States nor any State shall assume or pay any debt or obligation incurred in aid of insurrection or rebellion against the United States, or any claim for the loss or emancipation of any slave; but all such debts, obligations and claims shall be held illegal and void.


Pensions will be paid and there are no bounties for suppressing rebellion. So as I read the only debt POTUS can pay in SSAN.
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[Jan 15, 2013 12:06:42 AM]   Link   Report threatening or abusive post: please login first  Go to top 
twilyth
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Re: The trillion dollar platinum coin

You're getting bogged down in the minutiae, it's the first part of the first sentence that's relevant "The validity of the public debt of the United States, authorized by law, . . .shall not be questioned ". The rest is just talking about specific instances but not limiting the scope to those instances.

However you're right inasmuch as there is debate about whether or not that part of the amendment gives the president the power to issue new debt to avoid a default. That would most likely have to be litigated since there is, AFAIK, no precedent on the matter.

On the coin issue, it looks like both the treasury and fed have nixed the $1T coin idea - at least for now.

But both the prez and the baggers seem to be digging in. The prez says he won't allow the republicans to hold the full faith and credit of the US hostage in the budget talks.

The WSJ (Wall St Jrnl) said something like, you don't take a hostage (the debt ceiling) unless you're prepared to kill it - meaning in this case, that you're ready to force a default. And everything coming from B*n3r, I mean Boehner seems to indicate that he's ready to that.

Personally, I don't think Barry is prepared to end up looking like a fool this time around so I know that he has something up his sleeve as far as the budget negotiations go. If it's not the coin and it's not a 14th amendment end run though, I don't know what it might be, but I don't think he's the type to talk smack without having something to back it up. I guess we'll see.
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[Edit 1 times, last edit by twilyth at Jan 15, 2013 12:17:13 AM]
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Former Member
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Re: The trillion dollar platinum coin

should increase debt ceiling on condition that whatever the debt ceiling is increased then there should be at least 1.5 times that amount as spending cuts. if not we will be right back here again./

do as any household or business would do and cut now or forever loose your aa raiting and throw the rag in for good
[Jan 15, 2013 12:33:52 AM]   Link   Report threatening or abusive post: please login first  Go to top 
twilyth
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Re: The trillion dollar platinum coin

The whole point here is that you don't hold the full faith and credit of the country hostage just so you can advance your position in budget talks. That's what this amounts to.

The pubs and baggers want to cut, cut, cut. That's fine. But when they wanted to cut taxes they weren't concerned about finding spending cuts to offset the tax cuts, were they? No. And that's the fundamental hypocrisy of their position.

If they want smaller govt, that's fine. Use the system the way it was designed and work within the system to try to achieve your goals. The debt ceiling was NEVER intended to be used as a bargaining chip and Barry is absolutely justified in saying that he won't negotiate on it. I fully hope that he stares Boehner down and does indeed force a default. Then let's see what they have to negotiate with.
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[Edit 1 times, last edit by twilyth at Jan 15, 2013 12:42:11 AM]
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BladeD
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Re: The trillion dollar platinum coin

Are they still mad and in shock that they have President Obama (the only one that won't have to face the people at the polls again) to work with? biggrin
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[Edit 1 times, last edit by BladeD at Jan 15, 2013 12:54:27 AM]
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