[left that other site]

My Dad, a WW2 Navy Veteran, used to tell me stories about The Island of Yap.

I was one of the few pre-teens in the 60’s who could find it on a map!

Gosh, I MISS my Dad!

[VRW Conspirator]

Rep Jerrold Nadler has suggested the Federal Reserve be compelled to create a platinum coin valued at $1,000,000,000,000 and hand it over to Treasury.

These people are insane. This idea might be funny if it were fiction.

[SpaceBar]

This whole “platinum coin” thing floated by Jabba the Nadler and kept alive by matt drudge and others only serves to illustrate how the stupidest ideas coming from the mentally incompetant somehow seem to get all the press column inches.

[reg45]

Nadler’s nickname is “Jabba the Nut”.

[Jim Noble]

Citing the fact the Fed can coin money as long as it's not gold or silver

This "fact" does not appear in my copy of the Constitution.

What DOES appear there is the following: "Congress shall have the power...To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures..."

CONGRESS has the power to regulate the value of US coins (the nominal, legal tender value). CONGRESS could indeed repudiate our debts by coining trillion dollar platinum coins (or plastic coins, no matter) and calling all Treasury debt instruments in for exchange.

The Constitution also says, "No STATE shall... make any Thing but gold and silver Coin a Tender in Payment of Debts..."

There is absolutely no restriction whatsoever on Congress' coinage power to gold, silver. wampum, or bananas.

[sima_yi]

There was a period when an enterprising Irishman mined Palau...

There is a movie loosely based on this, called "His Majesty O'Keefe", starring Burt Lancaster (1954). Pretty good too, as I remember.