It seems to me that the clear intent of the US Constitution is that the US Congress, particularly the House, initiates entirely new monetary resources.
No matter how you cut it, a trillion dollar coin is new resources.
Also, any effort to assign the value of a trillion dollars to a coin flies is fraud. The market price of platinum is available for all to see, the historic price is available, and the futures price is available.
For anyone to claim they have a trillion dollars worth of platinum would require that they have more than a single coin or that the single coin be the size of a mountain.
Otherwise, they are perpetrating fraud.
It seems to me that the clear intent of the US Constitution is that the US Congress, particularly the House, initiates entirely new monetary resources.
No matter how you cut it, a trillion dollar coin is new resources.
Also, any effort to assign the value of a trillion dollars to a coin is fraud. The market price of platinum is available for all to see, the historic price is available, and the futures price is available.
For anyone to claim they have a trillion dollars worth of platinum would require that they have more than a single coin or that the single coin be the size of a mountain.
Otherwise, they are perpetrating fraud.
I was afraid they were going to do something like that. I joked once, “make a 100 trillion dollar bill” and pay everything off.”
It should be OK as long as they make the coins really, really big.
At the Federal Reserve...
Bob says: “Hey Herb...have you seen those $1 trillion coins I had out to weigh? I thought I had them on the counter right here.”
Herb, swallowing a Lance cheese cracker and popping the top on the Coke he just bought from the vending machine, says: “No, Bob...are you sure you had them out of the safe? Hey sorry. I forgot to ask you if you wanted anything from the break room.”
.
Why donn’t they just mint a one quadrillion dollar coin out of dog crap while they are at it...
Might as well stamp out a couple wooden nickels
Wealth-creation economics is an unsolvable mystery to the Left. That's because the Left is married to Socialist Central Government Control, which is anathema to wealth creation. They keep trying to put a square peg into a round hole.
It's part of the sad story of the history of man and government. America held out for 250 years as the exception but it seems to be finally succumbing to the inevitability of man's darkened understanding. Obama is only the figurehead.
As far as I’m concerned that would constitute an Act of War against The People.
This person actually gets paid to teach college students? Really?
With the way government seems to want to function, why even bother with gimmicks such as trillion dollar coins, or even printing money?
Why not just have the government write all it’s checks with no funding needed to back them up? That way, they’d never have to worry about taxing anybody, and would also be able to fund all the projects that the country could imagine.
Heck, why even worry about working for a living, since, the country would have a never-ending supply of money, to use as needed or wanted or wished.
Two coins, each worth a trillion dollars.
Imagine the movie, where a heist of the federal reserve occurs, and the robbers steal both coins. Would the federal reserve have lost those trillions, or would they just issue another 2 coins as replacements? Would the robbers have coins that reflect any real value?
Why don’t we just “deem” the debt as paid?
About as much sense as a trillion dollar coin.
Why do you need platinum to do this? You could take one of Obama’s turds, stamp it with the words “$1 trillion” and place it in a deposit box at the Fed. Same effect.
Considering that there are two places in the world we get platinum— Siberia, and South Africa— me thinks the russkies and their leftie pals are behind this scheme. No rational “economist” of any real pedigree would support it.
There is only a little less than a 25ft(to the3rd power) or 15,625 cubic feet of the metal ever mined if it could ever be collected in one place (according to Monex web site). The closing price on platinum Friday was 1,606/oz.
A 10 oz bar of .999 pure platinum ($16060) is (by Monex description in mm converted to inches) 2 23/64 x 1 25/64 x 19/64 in inches or .97404 cubic inches. Doing a little more number crunching, converting cubic inches to cubic feet and how many cubic feet it would take, and assuming the Friday market closing price-— for a trillion dollar coin to be made would take more cubic feet of platinum than ever mined. Assuming that amount of platinum could be collected.
That would be some size coin and impossible——UNLESS, at the same time they devalued platinum dramatically to reach the desired valuation. And, by so doing destroy our currency from that substitute “standard”. So it would have to be a “fake” coin— and worth— just that.
Pure utter lunacy. Or, the design of marxists to destroy a country’s currency in one move out of “crisis” of debt intervention without any reduction in government expense. This must be the Laura D’Andrea Tyson award winner— the champion of Ceaucescu Romania.
Bingo— the “Peterson Institute for International Economics” has among many other left wing whackos:
Lawrence H. Summers—former Treas. under obamao— nightmare.
Laura D’Andrea Tyson—champion of Ceaucescu’s Romania model!!
Ernesto Zedillo, former pres. of Mexico (via Salinas):- who engineered for Salinas the crash of the peso. Clinton’s Treas. Sec. Robert Rubin (he, of Goldman Sachs) floated 50 billion to Mexico to make it up— and made a tidy sum for the sack of Sachs).
The 100 year charter of the Federal Reserve Bank EXPIRES on Christmas Eve 2013. Re-approval of another X years? Now THERE is something to be advocated against. Take back our Constitutional Powers of the Congress.
Obamao is NOT Andrew Jackson-— he is a TOOL of the Federal Reserve.
Think about it folks. Greenback dollars-— OUR money— not Federal Reserve “Notes”.
It CAN be done.
Correction- there was never a 99 year (or 100 year) charter for the 12 Federal Reserve Banks. It was for 20 years, and then after the 1927 McFaddin Pepper Act it read:
” To have succession after February 25, 1927, until dissolved by Act of Congress or until forfeiture of franchise for violation of law.”
So, alter what I posted. Let’s move to forfeit their franchise for major violations of law- like influencing a moron like Geithner who neither paid his taxes nor thinks there should be a limit to our national debt. Criminal influence on our govt. by the ultimate private bank.
Anyone know if the charter is EVER reviewed? Or is this something no typical politician will ever touch?
I placed my first order for silver bullion bars last night.
For once in my life, my timing looks to be impeccable!