Treasury could mint two TRILLION Dollar coins!

[RideTheDirt]

Sovereign governments such as the United States can print new money. However, there's a statutory limit to the amount of paper currency that can be in circulation at any one time.

Ironically, there's no similar limit on the amount of coinage. A little-known statute gives the secretary of the Treasury the authority to issue platinum coins in any denomination. So some commentators have suggested that the Treasury create two $1 trillion coins, deposit them in its account in the Federal Reserve and write checks on the proceeds.http://www.cnn.com/2011/OPINION/07/28/balkin.obama.options/index.html?hpt=hp_c1

ROFL

[Aratus]

worse... the treasury dep't could "discover" a stack of 1933 minted 20 dollar gold pieces in a back room
that FDR's loyal people may not have melted down, soon to be sold in rolls of 20 to avid coin collectors

[Bern]

http://es.volacci.com/files/imce-uploads/whoa.jpg

[RileyE104]

damn you beat me to this... haha

Maybe a mod can delete my thread??

http://www.ronpaulforums.com/showthread.php?305493-LMAO-quot-Treasury-should-create-(2)-one-trillion-denomination-platinum-coins-quot

[Krugerrand]

Why coin? How about two trillion dollar wooden nickels.

[RideTheDirt]

Why coin? How about two trillion dollar wooden nickels.

A little-known statute gives the secretary of the Treasury the authority to issue platinum coins in any denomination.
from OP

[Krugerrand]

from OP

good catch. Perhaps then platinum plated wooden nickels.

[pcosmar]

OMG !
This guy is serious.
And it was published.

WTF
:confused:

:(

[RideTheDirt]

so does anyone know this "little-known statute"

[AGRP]

http://www.thenorthwestreport.com/wp-content/uploads/2011/04/Super_dollar_federal_reserve_fiat_money.jpg

Another Ron Paul prediction coming true once again:


http://www.youtube.com/watch?v=OqlKTSHETBg

[raiha]

On the bright side you wouldn't need a wheelbarrow for the worthless fiat, to buy a loaf of bread.

[enjerth]

Hey, at least the denomination doesn't beat Zimbabwe's 100T record! Perfectly reasonable, considering the circumstances!</sarcasm-kind of>

[junkmonkey]

http://imgs.inkfrog.com/pix/franktempleton/100Trillion_Zim.jpg

[parocks]

coin seigniorage


http://www.cnn.com/2011/OPINION/07/28/balkin.obama.options/index.html?hpt=hp_c1

ROFL

[parocks]

Coin Seigniorage: One Solution to Debt Ceiling
http://econintersect.com/b2evolution/blog2.php/2011/07/24/coin-seigniorage-one-solution-to-debt-ceiling

[mrsat_98]

good catch. Perhaps then platinum plated wooden nickels.

why not we have several denominations of toilet paper now.

[Krugerrand]

Coin Seigniorage: One Solution to Debt Ceiling
http://econintersect.com/b2evolution/blog2.php/2011/07/24/coin-seigniorage-one-solution-to-debt-ceiling

What's interesting about this idea is that it sounds like money debt not owned by the Federal Reserve, since it's the US Mint issuing the money.

[Travlyr]

How low will they go?
Harvard? Yale? Cato? ... CNN editors are just dumb for publishing this crap ... it is a sad state of affairs.

3 ways Obama could bypass Congress (http://www.cnn.com/2011/OPINION/07/28/balkin.obama.options/index.html?hpt=hp_c1)
Written by: Jack M. Balkin
Knight Professor of Constitutional Law at Yale Law School. His latest book is "Constitutional Redemption: Political Faith in an Unjust World" (Harvard University Press 2011).


Like Congress, the president is bound by Section 4 of the 14th Amendment, which states that "(t)he validity of the public debt of the United States, authorized by law . . . shall not be questioned." Section 4 was passed after the Civil War because the framers worried that former Southern rebels returning to Congress would hold the federal debt hostage to extract political concessions on Reconstruction. Section 5 gives Congress the power to enforce the 14th Amendment's provisions. This does not mean, however, that these provisions do not apply to the president; otherwise, he could violate the 14th Amendment at will.
It is interesting that the "..." between law & shall in Section 4 of the 14th Amendment which Professor Balkin omitted reads,

including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion,
I suppose he just did that for brevity ... :rolleyes:

The framers? Seriously? You call the $10,000 poster boy of the Federal Reserve - Salmon P. Chase a framer? I suppose he is a framer but not of liberty that's for sure. Chief Justice Chase (https://secure.wikimedia.org/wikipedia/en/wiki/Salmon_P._Chase) should have hanged for his crimes. That's what the "framer" was really worried about. I'm sure he knew the Coinage Act of 1792 called for the death penalty for debasing currency.

Constitutional Harvard & Yale "white shoe boys" are a joke.


Opinion: Both parties are wrong on debt talks (http://www.cnn.com/2011/OPINION/07/27/miron.debt.ceiling/index.html?hpt=hp_t1)
Jeffrey Miron is a senior lecturer and director of undergraduate studies in the Economics Department at Harvard University and a senior fellow at the Cato Institute. He is also the author of "Libertarianism, from A to Z."

Senior fellow at the Cato Institute? Wow! I thought the Cato Institute was a respectable organization but it seems they are in on the scam as well.


Something must change, and soon. Otherwise, nothing will stop the U.S. fiscal train wreck.
--Jeffrey Miron


Likewise, Democrats refuse to accept that Medicare is the primary driver of the U.S. fiscal nightmare.

Jeffrey, "Medicare?" "Seriously?" What about the wars, Jeffrey? What about the people starving on the streets? This guy represents what I loathe about labels - libertarian.
While I have not read it, his book sounds eerily familiar: "Libertarianism, from A to Z." I wonder if the first chapter is about Abortion and the last chapter Zionism? wth?

The U.S. fiscal train wreck is coming. The question is how big do you want it to be? And how many innocent people must die first?

The other day a fellow RPF poster posted a picture of a gun pointed at a grandma which said something like "Raise the debt or grandma gets it." So appropriate.