Only debt which is allowed for by Congress is valid. Some Congressional Republican should go on the news and make the point that any T-Bills issued without Congressional authority are invalid, and (to steal a phrase from Obama) “Congress cannot guarantee that invalidly-issued T-bills will be paid”
Actually, Lincoln did free some slaves. He freed the slaves (app. 3,000 or so) in the District of Columbia, the only territory he really had authority to do so.
Who knows they might have to do that in the event Obama tries to run around them and issue new debt. I’m sure the Fed will buy it if no one else will touch it but the damage to the reputation of our currency will be done.
I’m not exactly looking forward to the days when the world reserve currency shifts from greenbacks to that crazy basket of currencies and commodities being pushed by China/IMF.
Love your tagline.