Skip to comments.Treasury: We won’t mint a platinum coin to sidestep the debt ceiling
Posted on 01/13/2013 4:35:01 AM PST by listenhillary
The Treasury Department will not mint a trillion-dollar platinum coin to get around the debt ceiling. If they did, the Federal Reserve would not accept it.
Thats the bottom line of the statement that Anthony Coley, a spokesman for the Treasury Department, gave me today. Neither the Treasury Department nor the Federal Reserve believes that the law can or should be used to facilitate the production of platinum coins for the purpose of avoiding an increase in the debt limit, he said.
The inclusion of the Federal Reserve is significant. For the platinum coin idea to work, the Federal Reserve would have to treat it as a legal way for the Treasury Department to create currency. If they dont believe its legal and would not credit the Treasury Departments deposit, the platinum coin would be worthless.
(Excerpt) Read more at washingtonpost.com ...
That this has achieved the status of serious discussion show how screwed up the left has gotten us.
Too many people were asking “Why are we paying taxes if you can do this”?
They couldn’t give up that control could they?
So it’s just some other gimmick, then. They’re scrip $20 bills so fast and furious now they can even get the imprint on the paper straight....take out your wallet and look at your $20s (if you’re lucky enough to have some)....chances are at least one or more has an imprint not centered on the bill. Many of these are rejected by automated bill scanners.
Who are these con-men/criminals? Sociaiists/totalitarians.
Socialism Is Legal Plunder - Frederic Bastiat 1801-1850
Stop the clock. DEFUND socialist collectives foreign and domestic.
Reverse the clock. DEPOPULATE socialists from the body politic.
Start the surplus clock. DEBT is eliminated and current taxes are reduced dramatically.
live - free - republic
EXACTLY. Slithering socialists are slippery in their schemes. DEFUND them. DEPOPULATE them.
Platinum is trading at $1635US an ounce. So, any coin with a face value above its metal content is fiat money.
So, the difference between paper fiat money and platinum fiat money is? Answer, the difference between the metal value of the coin and the face value. A billion dollar platinum coin with one ounce of platinum would actually be worth a little more than a billion dollars in paper notes, but not much more. Why bother minting platinum coins when you can just fire up the presses? Paper and ink are really cheap right now.
Wait until enough people figure out the fiat money scam and refuse to accept it. It probably won't happen this year. 47% of the population has passed the fiat money stage and gone directly to electronic money.
Yep, they could use those fake 3 Dollar Clinton bills
I have a political idea that is actually more relevant, all congress men should tie a ribbon around their finger and write on the back of their hands, I will not bounce a check today.
Just as valid and more to the point.