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Insane: Liberals Contemplate $1 Trillion Platinum Coin to "Solve" Debt Limit Issue
Townhall ^ | 12/08/2012 | Guy Benson

Posted on 12/08/2012 10:32:31 AM PST by SeekAndFind

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To: SeekAndFind

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.


101 posted on 12/09/2012 9:46:41 AM PST by fhayek
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To: SeekAndFind

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.


102 posted on 12/09/2012 9:58:51 AM PST by John S Mosby (Sic Semper Tyrannis)
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To: SeekAndFind

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).


103 posted on 12/09/2012 10:11:52 AM PST by John S Mosby (Sic Semper Tyrannis)
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To: SeekAndFind

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.


104 posted on 12/09/2012 10:23:27 AM PST by John S Mosby (Sic Semper Tyrannis)
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To: ichabod1

Lenin and Stalin showed the way. In Russia the peasants were the least reliable politically and were starved. Here the larger farmers are already pretty firmly attached to the government teat. The target “class” would be the small businessmen and the private sector managerial class who would be sort of analagous to the Ukrainian Kulaks. These are the independent minded folks who balk at government control. The Wealthy, whom we might assume to be allergic to the communists are the easiest group to deal with. Some will join the Revolution willingly and the group is small enough that the unreliables can simply be killed or put to directed labor quickly and easily. The President already has a legal right to sequester and/or kill anyone he chooses without any sort of judicial proceedings thanks to the current version of the Homeland Security law which our 2010 Tea Party reps eagerly passed.


105 posted on 12/09/2012 10:40:45 AM PST by arthurus (Read Hazlitt's Economics In One Lesson ONLINE www.fee.org/library/books/economics-in-one-lesson)
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To: SeekAndFind

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?


106 posted on 12/09/2012 10:45:33 AM PST by John S Mosby (Sic Semper Tyrannis)
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To: SeekAndFind; All

I placed my first order for silver bullion bars last night.

For once in my life, my timing looks to be impeccable!


107 posted on 12/09/2012 12:37:07 PM PST by Red in Blue PA (Read SCOTUS Castle Rock vs Gonzales before dialing 911!)
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To: SeekAndFind

And X amount of Food would suddenly cost 2 trillion more to buy. Idiots.


108 posted on 12/09/2012 12:38:42 PM PST by Revel
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To: SeekAndFind

109 posted on 12/09/2012 1:21:25 PM PST by Lucky9teen (Peace is that brief glorious moment in history when everybody stands around reloading.~Thomas Jeffer)
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To: John S Mosby

“.....— 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.’.....”
********************************************************************
I think you missed the point. The trillion dollar coins could be the size of a silver dollar or a US quarter; there’s nothing that says the coins themselves would have to have any intrinsic value besides the value of whatever amount of platinum they contain. The point would be to allow the US government to print more money and negate the need for Obama to borrow more. This is a theoretical possibility only and likely would lead to Obama’s impeachment—but only after 2014 when a new crop of Senators would come in and the damage would already have been done to the US economy and the dollar.


110 posted on 12/09/2012 1:49:19 PM PST by House Atreides
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To: sickoflibs
wouldnt it be easier, and the same difference to just *decree* to our creditors that theyve been paid in full...

maybe just send em all a *reset* button or sumthing...

the bambam could then just double down and buy all our votes for a *rebate* [stimulus] check as well ???...just put 6-7 zeros on the number and have lemmings for life...

111 posted on 12/09/2012 3:11:38 PM PST by Gilbo_3 (Gov is not reason; not eloquent; its force.Like fire,a dangerous servant & master. George Washington)
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To: ridesthemiles

Can we use them in a vending machine when we’re thirsty?


112 posted on 12/09/2012 3:22:02 PM PST by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: PIF

“One Toony made of platinum to be worth 100 trillion would likely consist of the entire world’s supply of that metal ...”
//////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////

Yeah but once the real Zimbabwe inflation hits there will be 100 trillion dollars worth of platinum in the catalytic convertor from a Mini Cooper.


113 posted on 12/09/2012 5:24:03 PM PST by RipSawyer (I was born on Earth, what planet is this?)
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Comment #114 Removed by Moderator

To: Elsie

Best part: “...and can assign them whatever value it pleases.”

Yeah-No.


115 posted on 12/09/2012 7:26:37 PM PST by 4Liberty (Some on our "Roads & Bridges" head to the beach. Others head to their offices, farms, libraries....)
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To: Stosh
It’s an indictment of the times we live in that the people in charge apply all their brain power to come up with the cleverest methods they can to *avoid* solving serious problems.

What makes you think that isn't the policy, of whoever is telling George Soros and the Boys Downtown and the Fed what must happen/must not happen? Social Security, U.S. national savings (we're too comfortable), older Americans, and nationad debt must all go away. "A *thing* happened. Live with it, it's just a trend -- toward no savings, no medicines, no government, no money, and rationed food/water. It's your fault. Nothing to be done. No medz for you!! Try Soylent Green, it's nutritious."

116 posted on 12/09/2012 7:29:05 PM PST by lentulusgracchus
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To: fhayek

117 posted on 12/09/2012 7:29:05 PM PST by 4Liberty (Some on our "Roads & Bridges" head to the beach. Others head to their offices, farms, libraries....)
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To: hinckley buzzard

. . . a total waste of good platinum . . .


118 posted on 12/09/2012 11:02:20 PM PST by Phil V.
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To: lentulusgracchus

this is what happens to all civilizations eventually . Good time to stock up on ammo and sharpen up on survival skills .


119 posted on 12/10/2012 12:02:25 AM PST by KTM rider ( , you'd be lucky to get= $7....LOL !)
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To: SeekAndFind

I’ve got an old pair of penny loafers in my closet. Why not just deposit them in the bank, say each is worth a trillion, and .... Ya know, whatever.


120 posted on 12/10/2012 4:36:41 AM PST by PaleoBob
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To: KTM rider

True.

And then ya die.

Better make plans for eternity now.


121 posted on 12/10/2012 4:38:03 AM PST by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: I want the USA back

“Why Socialists Love Inflation”
http://www.youtube.com/watch?v=-pGiMEcsnNc&feature=player_embedded


122 posted on 12/10/2012 4:44:32 AM PST by TurboZamboni (Looting the future to bribe the present)
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To: SeekAndFind
Crazy.

But nothing surprises me anymore.

123 posted on 12/10/2012 5:19:40 AM PST by Lazamataz (LAZ'S LAW: As an argument with liberals goes on, the probability of being called racist approaches 1)
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To: ridesthemiles

We already have the dollar coins. They’re filling up sites like the end of “Raiders of the Lost Ark”. Nobody uses them, so there they sit. Another expensive .gov brainstorm.


124 posted on 12/10/2012 5:25:07 AM PST by Bi-ped Carbon Unit (Paid, non-lawyer spokesperson)
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To: Gay State Conservative
LOL. I bought a lot of those a few years back and gave them all out at the office. Folks were appreciative and amused.

If only I had known!

125 posted on 12/10/2012 5:32:38 AM PST by jboot (This isn't your father's America. Stay safe and keep your powder dry.)
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To: SeekAndFind

The only reason why Liberals don’t care about the debt is that they have every intent of having the US walk away from paying. They are just trying every trick in the book to increase the debt in the meantime.


126 posted on 12/10/2012 5:46:11 AM PST by Jonty30 (What Islam and secularism have in common is that they are both death cults.)
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To: SeekAndFind

wampum gagnon style.

we are doomed.

t


127 posted on 12/10/2012 6:14:49 AM PST by teeman8r (Armageddon won't be pretty, but it's not like it's the end of the world.)
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To: xzins

Silly plebian! Don’t you know that Chairman Obama is above the law?


128 posted on 12/10/2012 6:16:31 AM PST by Cato in PA (May America reap the putrid fruit of the demon seed it's sown.)
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To: Cato in PA

Prior to Obama, which US president was the most imperial and authoritarian? (This is not a trick question. I’m truly interested.)

Lincoln and Jackson come to mind for me.


129 posted on 12/10/2012 6:48:31 AM PST by xzins (Retired Army Chaplain and Proud of It! True supporters of our troops pray for their victory!)
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To: hinckley buzzard

LMAO!


130 posted on 12/10/2012 7:15:28 AM PST by GrandJediMasterYoda (Someday our schools we will teach the difference between "lose" and "loose")
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To: arthurus
"...But when the big rich country engineers its own famine it will have to wait for the Rigellians to arrive with their UFO-loads of food..."

Or, intentionally starve or murder a large proportion of their own citizens to fix the issue.

Or wait for war to do it for them.

131 posted on 12/10/2012 9:03:17 AM PST by rlmorel (1793 French Jacobins and 2012 American Liberals have a lot in common.)
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To: mikrofon

Why don’t we just make the ten dollar bill “go to eleven”?


132 posted on 12/10/2012 9:04:16 AM PST by rlmorel (1793 French Jacobins and 2012 American Liberals have a lot in common.)
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To: John S Mosby
The amount of platinum in the coin is irrelevant.

Congress (NOT the President, and NOT the Department of the Treasury, Bureau of the Mint) has the exclusive power "to coin money, and regulate the value thereof".

It would be perfectly constitutional for Congress to authorize by statute a 1 ounce platinum coin with a face value of one trillion dollars.

Of course, they would thereby create a few problems. But it's not illegal, it's not unconstitutional, and it would increase the money supply by however many coins were minted, without raising the debt ceiling.

133 posted on 12/10/2012 9:33:01 AM PST by Jim Noble (Diseases desperate grown are by desperate appliance relieved or not at all.)
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To: xzins
Otherwise, they are perpetrating fraud

Not at all.

Congress has the power (and the duty) to "coin money, and regulate the value thereof".

Congress set the price of gold from 1792-1971 and set the price of silver from 1795-1964, and there was nothing fraudulent about THAT.

Congress has the power to mint platinum coins and set the value at USD one trillion/ounce. In fact, they have the power to pay off the national debt that way.

Since I presume they would not allow free coinage (i.e., they wouldn't pay YOU UDS one trillion/oz), it might be a hard sell to our foreign friends, but the notes we use to pay them now are essentially without value other than that decreed by Congress.

The "money question" is rising from the grave. Can YOU define "money"? Can you define "dollar"?

This could work.

134 posted on 12/10/2012 9:44:06 AM PST by Jim Noble (Diseases desperate grown are by desperate appliance relieved or not at all.)
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To: I want the USA back

Actually, from what I can tell, a lot of economists are really that insane.
They are the sort that say the national debt is no big deal because “we owe it ourselves” and that taxing the rich to redistribute to the poor is good because they’ll spend the money and “get the economy going.”
They are, to put it mildly, very detached from reality...


135 posted on 12/10/2012 9:50:25 AM PST by Little Ray (Get back to work. Your urban masters need their EBTs refilled.)
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To: SeekAndFind

That’s a great idea. We’ll just retool the soda machines to accept them and add a bunch of zeroes to our money and pay all our creditors back with an even trillion dollar coin. We could have the national debt payed off by the Fourth of July!


136 posted on 12/10/2012 9:52:54 AM PST by freedomfiter2 (Brutal acts of commission and yawning acts of omission both strengthen the hand of the devil.)
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To: freedomfiter2

I hope they put Obama’s picture on it !

(sometimes you just got to laugh or you’d cry)


137 posted on 12/10/2012 11:22:22 AM PST by TexasFreeper2009 (Obama lied .. the economy died.)
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To: null and void

That coin might tear a hole in my trousers, unless we attach it to The Hitting Stick.


138 posted on 12/10/2012 11:27:14 AM PST by Lazamataz (LAZ'S LAW: As an argument with liberals goes on, the probability of being called racist approaches 1)
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To: SeekAndFind

How is it any different than what we are doing now?

Doesn’t the Federal reserve buy the bonds that the treasury is selling with money created out of thin air?


139 posted on 12/10/2012 11:31:11 AM PST by listenhillary (Courts, law enforcement, roads and national defense should be the extent of government)
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To: Jim Noble

No doubt, and perhaps you would say Congress has been doing that— but it has not. The Federal Reserves is “minting” or “coining” our “money” in electronic blips and at their all knowing whims.

The coin could be composed of ANYTHING. But they wouldn’t do it out of anything for the fact there is no value in say a wooden nickel. So instead some genius thinks, platinum, and would have to establish a value for the quantity of metal in it. Since the metal is a traded commodity, the “coinage” would be suitably meaningless. This is overall a foolish exercise, just as returning to a “gold standard” would be, because once again all the gold in the world that has been refined would fit in a cube 60 meters on a side.

The answer is to control the size of government— top to bottom audit— stringent thorough and complete. And then walk through each section of it— cutting away the vast waste that our govt. is.


140 posted on 12/10/2012 1:08:02 PM PST by John S Mosby (Sic Semper Tyrannis)
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To: SeekAndFind

Beyond belief! The ONLY fix to get our economy back into recovery is a reduction of “freebies” and hand-outs of ridiculous grants for unnecessary studies, and to cut the wages and staffs of overly populated government offices and eliminate duplicate and worthless programs.


141 posted on 12/10/2012 1:24:21 PM PST by CitizenM (Obama - The architect of the decline of the U.S.)
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To: Lazamataz

No good. It would get all scratched up dragging in the dirt.


142 posted on 12/10/2012 1:29:41 PM PST by null and void (Going Galt: The won't of the people)
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To: null and void
Then I will simply have to elevate the Hitting Stick.

Think: 10 ton 3 story crane.


143 posted on 12/10/2012 1:32:07 PM PST by Lazamataz (LAZ'S LAW: As an argument with liberals goes on, the probability of being called racist approaches 1)
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To: Gilbo_3
wouldnt it be easier, and the same difference to just *decree* to our creditors that theyve been paid in full...

maybe just send em all a *reset* button or sumthing...

the bambam could then just double down and buy all our votes for a *rebate* [stimulus] check as well ???...just put 6-7 zeros on the number and have lemmings for life...

Simple. Just declare 2013 a Jubilee Year.

Any Messiah should be able to do that...

144 posted on 12/10/2012 1:35:21 PM PST by null and void (Going Galt: The won't of the people)
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To: Lazamataz
Erection in Progress
145 posted on 12/10/2012 1:38:47 PM PST by null and void (Going Galt: The won't of the people)
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To: null and void; sickoflibs; stephenjohnbanker; NFHale
Just declare 2013 a Jubilee Year.

Any Messiah should be able to do that...

dang null and void...i respectfully bow to your masterful sarc...schooled me good with that one... 8^}

146 posted on 12/10/2012 1:55:23 PM PST by Gilbo_3 (Gov is not reason; not eloquent; its force.Like fire,a dangerous servant & master. George Washington)
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To: John S Mosby
The answer is to control the size of government— top to bottom audit— stringent thorough and complete. And then walk through each section of it— cutting away the vast waste that our govt. is.

Well said, sir!

Surely you do not believe that such a result can be achieved by universal franchise voting combined with free television "news" and infotainment - do you?

147 posted on 12/10/2012 2:05:44 PM PST by Jim Noble (Diseases desperate grown are by desperate appliance relieved or not at all.)
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To: Gilbo_3

Ummmm... Sarcasm?

It was meant as a serious suggestion.

A full reset every 49 years would jam the 50 year Kondratiev wave...


148 posted on 12/10/2012 2:07:14 PM PST by null and void (Going Galt: The won't of the people)
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To: SeekAndFind
How about a giant rubber coin? It seems weirdly appropriate -- and Douglas Adams seems weirdly prophetic.


149 posted on 12/10/2012 3:38:30 PM PST by Sooth2222 ("Suppose you were an idiot. And suppose you were a member of congress. But I repeat myself." M.Twain)
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To: SeekAndFind

While we are at it we can change the name of our country to Argentina.


150 posted on 12/10/2012 5:47:56 PM PST by ElkGroveDan (My tagline is in the shop.)
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