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Greg Walden's bill bans minting $1T coin
politico ^ | 1/7/13 | BOBBY CERVANTES

Posted on 01/07/2013 2:24:27 PM PST by ColdOne

Lawmakers are still positioning themselves for a debt ceiling fight in a few months, but one Republican congressman wants to snuff out a particular idea immediately: the U.S. Treasury minting $1 trillion platinum coins to avert a debt ceiling showdown.

Rep. Greg Walden (R-Ore.) has introduced a bill to specifically ban President Barack Obama from minting the coins.

“This scheme to mint trillion dollar platinum coins is absurd and dangerous, and would be laughable if the proponents weren’t so serious about it as a solution,

(Excerpt) Read more at politico.com ...


TOPICS: Business/Economy; Government
KEYWORDS:

1 posted on 01/07/2013 2:24:31 PM PST by ColdOne
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To: ColdOne

Was looking forward to the $1000 loaf of bread.


2 posted on 01/07/2013 2:25:56 PM PST by Morris70
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To: Morris70

“This scheme to mint trillion dollar platinum coins is absurd and dangerous, and would be laughable if the proponents weren’t so serious about it as a solution,”

Fine, make them out of Plutonium.


3 posted on 01/07/2013 2:28:04 PM PST by rightwingcrazy
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To: ColdOne

The question to ask, is, what effect does passage in the house of such a bill, and then Reed (sicK!) dropping it in the Senate. What effect does passage in the house/sinate and then the regime rejecting it do?

Does a bill such as this, when defeated, make it more plausible?

It is clearly laughable, but in a crisis moment, I would not put it past idiot morons from pulling off, no matter (or because of) its dire consequences.


4 posted on 01/07/2013 2:31:14 PM PST by C210N (When people fear government there is tyranny; when government fears people there is liberty)
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To: ColdOne

does it also ban a $900 billion coin?


5 posted on 01/07/2013 2:31:35 PM PST by GeronL (http://asspos.blogspot.com)
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To: rightwingcrazy

So, then they would mint a coin for one trillion and one dollars.


6 posted on 01/07/2013 2:32:02 PM PST by Wordkraft (Remember who the Collaborators are.)
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To: Wordkraft

Exactly. We’re not up against reasonable people. Bills like this are idiotic, illustrative of our problem. They still think the regime is concerned about legislation.


7 posted on 01/07/2013 2:39:51 PM PST by demshateGod (The fool hath said in his heart, There is no God.)
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To: ColdOne

Dim’s are like children that believe in the money faerie...

Or like a 13 year old girl with her father’s credit card...

ABSOLUTELY without a clue of how wealth is created, or by whom.


8 posted on 01/07/2013 2:41:26 PM PST by LucianOfSamasota (Tanstaafl - its not just for breakfast anymore...)
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To: rightwingcrazy

why not just use Obamaium?

As long as we’re making money out of thin air, might as well conjure up some new elements...

Obamaium
Micheleium
Screwdium


9 posted on 01/07/2013 2:44:54 PM PST by bigbob
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To: C210N

You are pretty much correct. The bill will never get out of the Senate.


10 posted on 01/07/2013 2:47:17 PM PST by RIghtwardHo
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To: Morris70

Wait just a doggone second here. I was looking forward to my next raise taking me up to $10,000,000 per year.


11 posted on 01/07/2013 2:48:30 PM PST by ProtectOurFreedom
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To: ColdOne
But will it fit in a vending machine?

Knowing how our government makes decisions, they'll probably make it like the Susan B. Anthony dollar so that people will mistake it for a quarter.

Imagine paying 1 trillion dollars by mistake for a Snickers bar?

-PJ

12 posted on 01/07/2013 2:49:05 PM PST by Political Junkie Too (If you are the Posterity of We the People, then you are a Natural Born Citizen.)
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To: ColdOne
Here's an idea:

What if they misprint the coin, say, stamp it twice so it has a double image?

Would that make the $1 trillion coin worth $10 trillion to coin collectors?

-PJ

13 posted on 01/07/2013 2:51:21 PM PST by Political Junkie Too (If you are the Posterity of We the People, then you are a Natural Born Citizen.)
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To: ColdOne

.... Just wondering how this “Trillion Dollar Coin” works? Would the current President take possession of the coin when/if he leaves office becoming the world first trillionaire? Or would it just become the property of the Democrat party for posterity sake.


14 posted on 01/07/2013 2:52:24 PM PST by R_Kangel ( "A Nation of Sheep ..... Will Beget ..... a Nation Ruled by Wolves.")
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To: ColdOne

Are they looking to Zimbabwe for tips on designing the coin?


15 posted on 01/07/2013 2:54:03 PM PST by Cyber Liberty (Obama considers the Third World morally superior to the United States.)
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To: bigbob
Mustn't forget Unobtanium, the engineer's universal material-of-choice for constructing anything, even fiat money.
16 posted on 01/07/2013 2:56:42 PM PST by ProtectOurFreedom
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To: ColdOne
A few million of these might help:


17 posted on 01/07/2013 3:04:41 PM PST by x
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To: ColdOne

I wonder what would happen to the price/oz of platinum (or gold, or silver) if they went through with this scheme?

I wonder if I should buy some platinum (or gold, or silver)?


18 posted on 01/07/2013 3:05:22 PM PST by MAexile (Bats left, votes right)
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To: ColdOne

19 posted on 01/07/2013 3:06:30 PM PST by Joe 6-pack (Que me amat, amet et canem meum)
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To: ProtectOurFreedom

“Mustn’t forget Unobtanium, the engineer’s universal material-of-choice for constructing anything, even fiat money.”

How would Unobtanium react with Dihydro-oxide? (Not sure of exact spelling). Should we fear an oxidation of the Unobtanium?


20 posted on 01/07/2013 3:11:57 PM PST by John Galt's cousin (WTF? We couldn't rescue four men in Benghazi? Is our military IMPOTENT? ( /s ))
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To: ColdOne

This trillion dollar coin idea seems like something straight out of Austin Powers and Dr. Evil.


21 posted on 01/07/2013 4:10:16 PM PST by castlegreyskull
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To: ColdOne

I want them to make them. Maybe some drunk dem politician will drop a few on the sidewalk and I’ll find them!


22 posted on 01/07/2013 4:48:06 PM PST by Right Wing Assault (Dick Obama is more inexperienced now than he was before he was elected.)
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To: ColdOne

“Everything about socialism is sham and affectation.” - 23.11 Ch23 Evil; Economic Harmonies; Frederic Bastiat

DEPOPULATE socialists from the body politic. Psychopaths. Witness current events.


23 posted on 01/07/2013 6:36:13 PM PST by PGalt
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To: castlegreyskull
I was thinking Douglas Adams were he still alive. Something along the lines of what a planet that knew nothing about economics would do.
24 posted on 01/07/2013 6:41:39 PM PST by Hillarys Gate Cult (Liberals make unrealistic demands on reality and reality doesn't oblige them.)
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