Posted on 12/03/2013 9:45:54 AM PST by Para-Ord.45
Fans of economic policy may recall that during one of the many recent debt ceiling showdowns, the idea to mint a trillion-dollar platinum coin came to the fore. It turns out that the Obama administration took the idea seriously enough to have the Justice Department’s Office of Legal Counsel draft memos pertaining to its legality, a fact belied by the White House’s out-of-hand dismissal of the option in January.
In response to the Huffington Post’s Freedom of Information Act request, the OLC confirmed that memos about the legality of minting a high-value platinum coin had been written since Obama took office, but declared them “not appropriate for discretionary release.” HuffPost filed the FOIA request during this fall’s debt ceiling battle.
(Excerpt) Read more at mediaite.com ...
I`ve concluded this on the basis that they seriously thought of minting Trillion dollar coins and rolling them down the street to pay off the national debt without realizing it would collapse the fiat paper currency system in a nanosecond 100%.
Will it have Moochelle on one side? Each pound representing part of the trillion value?
/johnny
Nuts? Maybe. Absolutely beyond question incompetent? YES!
It's like "deeming" a bill to have passed.
Or declaring a huge spending proposal a "tax" because it originated in the Senate.
Politicians do what they want, through any means necessary. They are playing a game by pretending to do things "in accordance with some law" when in reality they are just giving us the finger and ruling over us like little lords.
He should hire Zimbabwe’s currency design team.
This is every teeny bopper’s answer to their high school econ teachers question ‘how do we solve the debt crisis’.
Why even mint the coin. Just hit the delete button and its gone!
Yep. And they did so at the suggestion of the liberal lunatic Paul Krugman of The New York Times:
http://mobile.nytimes.com/blogs/krugman/2013/01/07/be-ready-to-mint-that-coin/
They stole the trillion dollar coin idea from Bo Gritz:
http://comeletusreasontogether.com/where-does-mint-coin-pay-debt-idea-originate
“He should hire Zimbabwe’s currency design team.”
Exactly!!!
Bo Gritz of Ruby Ridge fame?
LOL - Thanks for the laugh.
EXACTLY TRUE !!
THat would make this 'two bit government' grossly
overpaid, and not worth the electrons inconvieneced !!
Yes.
I gave my wife 100 Billion Dollars for Christmas a few years ago (one Zimbabwe note - $100,000,000,000).
It’s on the wall in her office.
I could have paid about $2.50 more and purchased a 100 Trillion bill, but the reference to the Austin Powers made us laugh. I believe it was $5.00 on eBay with shipping.
She understands a bit more about bad governments and inflation now. A great gift!
“Batshit” F’n nuts? Please use the term with respect.
R/ Bat
You big tipper you.. Ohhh gruuuuuu vaaaay.
Hmmm, that would be a 21,000 ton gold coin. I want one!
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