Skip to comments.Trillion Dollar Coin not Legal
Posted on 01/12/2013 6:13:19 PM PST by shineon
Treasury Department spokesman Anthony Coley said Saturday that neither his department nor the Federal Reserve believes the law can or should be used to produce such a coin to avoid a coming battle with Congress over government borrowing.
(Excerpt) Read more at boston.com ...
But they will do something ELSE awful to keep their insane spending and entitlements alive.
Yes. And haven’t we seen before where someone comes out and says the ‘obvious’ and then does the unthinkable?
This reminds me of Castro stealing the trillion dollar bill from Mr. Burns on the Simpsons. Of course, I had always assumed such a ludicrous idea was only for cartoons.
Uh...has this guy consulted Paul Krugman about this? Cuz Krugman thinks Obama ought to mint said coin.
Half the stuff the feds do, at least, is illegal from what I can see and read
Yeah, so what? Ozero will just issue an executive order.
Wasn’t this a Simpsons episode?
That was the first thought that came to mind.
I don’t know whether to laugh or cry when I see an Obama sticker on a car next to the “Critical Thinking: the other national deficit” sticker.
Or the Newsweek cover “Why are Obama’s critics so dumb?”
Like something minor like “legal” would stop them.
I’d guess that well over half of America laughed at the suggestion of a Trillion Dollar Coin! The problem is that this group currently running the Government is so crazy that they even thought about this! That alone makes them all just a bit crazy and should make the rest of us wonder just how we elected this group of idiots and what can be done about it. Is there not any means to recall any of these crazy folks - heck, even the President.
This is in effect what has happened each and every year of the last 4 years: Ø stealing from $1 to $1.5 Trillion each year from the American people for his criminal use; just using the printing press rather than coin minting.
I guess this means the White House will have to do it themselves.
The trillion dollar coin is for LOW INFORMATION VOTERS ...it is up there with “printing money”. ... Those in the know will quickly tell you the US does not have the printing capacity to print the dollars Obama is spending. This is “slight if hand” talk the LIV’s glom into, they study it while the “other hand” slips more zeros into the Fed’s computer balance. If you or I hacked our bank account and added a few zeros to the account balance, we would be in jail. But Obama does it and he is a hero to those TAKERS that benefit from the handouts. Get people focused on a trillion dollar coin or printing money...and when they are focused on that hand, add more zeros with the other hand while they aren’t paying attention. This is not THEORY...this is WHAT IS HAPPENING NOW!
-——the US does not have the printing capacity to print the dollars Obama is spending———
There is a fallacy in that statement. It assumes money is tangible. Money is blips on an electronic ledger. Circulating paper money is a tangible representation of a fraction of the summed total.
A dollar on a Walmart or McDonald’s plastic card is no different from a green piece of paper. All are at root blips on an electronic ledger.
The day is coming when the Walmart plastic may have more trust than the green paper.