Skip to comments.Insane: Liberals Contemplate $1 Trillion Platinum Coin to "Solve" Debt Limit Issue
Posted on 12/08/2012 10:32:31 AM PST by SeekAndFind
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Why don’t we give each person a billion dollars, so we could all be billionaires? What’s economically wrong with that? /s
Mat Groening runs our govt.
-— Are we insane? -—
E. Michael Jones, in “Degenerate Moderns,” and Paul Johnson, in “Intellectuals,” proved to me that the price of licensiousness is rationality. IOW, modern philosophy is one long justification of vice. Keynes was a prime example.
oh i figgered out the answer to why nobody uses them just have the federal mandate that all vending machines have to be retrofitted to take the coins or else
zero combines the unconstitutional, ends-justify-the-means tactics of Lincoln with the manners and social graces of Jackson.
Accepting for the moment that Congress authorized the issue of platinum coins at whatever value the Treasury puts on them, the act would be unconstitutional as it would abrogate the Congress’ power to coin money and regulate the value thereof. I suspect that there is legislative history in which the Congress provided some parameters to what the Treasury could do with platinum coins.
I have now read the code.
The section [section (k)] could be better worded.
It says the Secretary [of the Treasury] can issue platinum BULLION coins and PROOF platinum coins of whatever design and denomination he chooses.
It can be argued that the use of the word “bullion coins” means coins that are acquired as a store of value, not as a medium of exchange, whether or not they possess a legal tender value, and that sell for the cost of metal plus a modest premium so as to cover minting and distribution costs and possibly also a reasonable profit.
It can also be argued that the use of the word “proof coins” means coins that are very highly polished so as to be of interest to collectors, and not as a store of value nor a medium of exchange; and commanding a larger premium over cost than a bullion coin.
The obvious meanings of these two terms COMBINED WITH the presumption that Congress would and should jealously guard its powers under the Constitution, would mean that the argument of the socialist progressives that their would be dictator has found away our system of checks and balances, should be summarily rejected by the courts.
Just create “The Infinity Coin”, and then, live happily ever after.
The instant the 2 Trillion is deposited in the Treasury, the mammoth printing presses will roar into life and pour out hundreds of tons of paper 24/7.
Only if the “infotainment” would be like that which helped cause say, the East German (East Berliners receiving W. Berlin TV with ads for goods, opportunity society vs. the slave State) to create desire for independence. That element of society I think is lost to the self-sufficiency citizens.
If we have gone past the tipping point, and Everyone is on the govt. teat at the “voting” level (not talking about the upper middle layers like biz subsidies which obamao has also been buying off for the machine)-— if that is now true, then this will have to be done off the grid.
Start with the Founding principles, the need for morality as a basic tenet for our Constitution to work, and also the basis for self-sufficiency— not reliant on the expanded “common good”. How many people are left who think and FEEL this way— emotionally and intellectually. There may be more than we think— and I pray that is true. But there must be a plan.
How would the effect on the money supply be any different than congress authorizing them to borrow an extra $2T that currently doesn't exist?
Why a Platinum $1,000,0000,000,000 coin?
Platinum has instrinsic value.
Make it $1,000,000,000,000+ wooden nickels.
Or use Zimbabwee “bucks”. There must still be a lot of high denomination Zimbabwee bucks around.
Worked real swell for them.
Should work just as well for us.
Wasn’t this an episode of “The Simpsons”?