Comments Subscribe to Personal Liberty News Feed Subscribe to Personal Liberty
 

The $1 Trillion Platinum Coin

January 9, 2013 by  

The $1 Trillion Platinum Coin
PHOTOS.COM

Occasionally, the truth comes out of Washington for all to see. But even when it does, many people still miss it.

It did with the announcement that there are discussions about having the U.S. Treasury mint a $1 trillion platinum coin to deposit at the Federal Reserve to get around the national debt ceiling.

The country is currently banging against the $16.394 trillion debt ceiling, and negotiations are about to begin to raise it again. (You may recall we had this discussion about a year and a half ago.) The last deal was supposed to cut $2 trillion in long-term spending, to which I say, “Ha!”

The trillion-dollar coin idea demonstrates the fraud that is government debt. There really is none. It’s a myth spouted by the criminal elected class and relayed by the government’s propaganda machine, also known as the mainstream media. There simply can’t be government debt when a government can print money to infinity, and the trillion-dollar coin idea is further proof. It’s just shifting money piles around and stealing more of your wealth in the process.

Money printing is inflation, and inflation is the hidden tax. Picture a bucket of milk as your savings. Now, picture the government pouring water into your milk. The more water, the less milk, until finally the bucket is holding only water and your milk is washed away. So it is with your savings under inflation. You can’t hide it deep enough underground to save it from the inflation monster.

The economic collapse is accelerating. Expect more ridiculous ideas out of Washington in the coming months as the political class tries to hide it for as long as possible.

Bob Livingston

is an ultra-conservative American and author of The Bob Livingston Letter™, founded in 1969. Bob has devoted much of his life to research and the quest for truth on a variety of subjects. Bob specializes in health issues such as nutritional supplements and alternatives to drugs, as well as issues of privacy (both personal and financial), asset protection and the preservation of freedom.

Facebook Conversations

Join the Discussion:
View Comments to “The $1 Trillion Platinum Coin”

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.

Is there news related to personal liberty happening in your area? Contact us at newstips@personalliberty.com

  • Mike in MI

    Gee whizzzz, Mr Presendink -
    Whoy naut go to the westren shore o Laike Mitchagin, pick up a grain o saind and declare it woarth a thaosaind bucks? Thaen we’d haive” ‘saind bucks” everwhar.

  • Warrior

    This is one “great idea”!. This way we won’t strain ourselves having to use wheelbarrows. Who’s behind this idea, krugman? I wonder, is there still “Greed” in a socialist system?

  • Whoo Hoo

    Get out of the phony dollar system before you have to eat mud sandwiches.

    • ibcamn

      trust me.it won’t be a mud sandwich that Obama is giving the American people to eat!!

      • Larry K.

        HE’S OUT OF HIS STUPID MIND IF HE HAD ONE THAT IS.

  • MontanaGrandmom

    On a commentary last night a numismatist was interviewed and asked how large a trillion dollar platinum coin would need to be to worth a trillion dollars. He laughed and said, “as big as a 747″. Now how will they move that piece of ‘change’ to the Federal Reserve to deposit it? All that aside, if they have a trillion dollars worth of platinum to even make this coin, isn’t it already ‘backing the funny money’? This whole debacle is just a gigantic shell game.

    Put Congress on minimum wage and make them participate in the same insurannce, social security and retirement plans that the majority of the country do. Don’t worry, they won’t go hungry. They had more money than they knew what to do with before they ever ran for office. Oh, and while we’re at it, let’s have their home states pay 1/2 of their minimum wage salary and submit them to an annual review in the form of an election to determine if they are actually doing their job and representing their constituency. If not, fire them and hire the guy who got the next most votes. If they are approved as ‘doing their job’ they can have the same cost of living adjustment raise as the rest of the country. When they leave office they can take their 401K with them, but no governemnt funded retirement $ for the rest of their lives.

    Thank you, I’ll step down from my soapbox now and give someone else a chance.

    • TOCB

      The law gives the federal government the power to declare any value to any size coin. It doesn’t have to actually be worth that much in the real commodity. Theoretically, the government could say a coin the size of dime is worth $ trillion or $ infinity.

    • http://google David

      Think your idea is worthy, but also try this. For the stupid uninformed voters who cast their ballot for socialism, assessed a 20% tax on all purchases (most don’t not pay taxes) for the term of the party in power.

    • GALT

      http://krugman.blogs.nytimes.com/2013/01/07/be-ready-to-mint-that-coin/

      The size of the coin or the amount of platinum is irrelevant, as a
      commemorative coin ( the loop hole ) it has a singular purpose, which
      is stated in the article……….once minted, it would become an asset of
      the government, which could be exchanged for other assets. ( or assets
      which represent “debt instruments”, which could then be retired. )

      For example, the Social Security Trust Fund, is comprised of various
      government debt instruments, T-Bills, etc…….the coin or coins minted,
      are then exchanged, for the T-bills……..and that amount of debt, is no
      longer on the books………which prevents the “idiots” in Congress for
      screwing things up even more.

      None of this actually matters, since there is no such thing as “sound money”.
      and “economics” doesn’t work……..no matter what system you employ, the
      problem remains……….there exists no method or means by which one can
      establish a stable system or standard by which one can determine “asset”
      value. ( empirically )

      Someone said, that the reason for owning gold was that it holds its value,
      so that what one buys with 1oz of gold today, can purchase the same thing
      tomorrow, or five years from now. The example used was a car.

      A simple look at car prices and gold prices over the past decade will demonstrate
      that is not true………nor did sound money prevent the crash of 1929, and the Fed
      had nothing to do with it, because anyone can create debt instruments…..even you.

      But to stick with gold, let us say that there is $100 of gold in the economy, and $1
      will buy a car…….overnight the amount of gold in the economy increases by
      $100………if the theory of gold holding its value is true, you should be able to still
      buy a car for $1……….but gold is a commodity…….and when you increase it’s
      supply, you lower demand….or so the theory goes…….now it will cost you $2 to
      buy the car.

      If you need an historical example, when the gold and silver started flowing
      in from the new world, prices rose………see DavidH for von mises link,
      or Sam Rolley’s ad which contains it.

      You can have a lot of fun with tulips, railroads, stock, real estate, derivatives
      etc.

      Each commodity, has it’s own supply and demand curve which is further
      influenced by perception/information………..each one of these, presents
      a potential for market distortion, which is further compounded by
      the fact that……..no empirical asset value exists in the first place.

      Economics is invalid…….in any form, and one you introduce Debt with
      interest ( by extending credit ) you have a system which will collapse.

      If you wish to understand this better and why it has always been TRUE.

      Debt; The First 5000 Years

      Economics Unmasked

      if, you wish to continue to remain a victim as well as ignorant of the means
      by which you are being made one, feel free to ignore both the history and
      the actual mechanism which continues to enslave you.

      • tony newbill

        GALT in that sense it will only work domestically because the International markets and Foreign suppliers we are Dependent on for goods and services now will balk at this as a valuable currency . The Dependency on foreign parts supplies with no back up supply if these guys reject any of our ideas to come up with a currency of value is why we are in the trouble we are in .

      • ibcamn

        well Galt,then in practice,if in 1885 a $20 gold piece bought you two brand new suits and a stetson hat..then that same $20 gold piece today, buys you two new suits and a stetson hat!!..coin is currancy,bills are notes(legal tender),then notes buy less and gold buys the same!?yes or no?inflation this time around with Obama and his henchmen,is artificial?didn’t a German leader try this once and it failed miserably….crap!,George Sorose is floating around somewhere!!

      • GALT

        For tony……domestically is good enough, but it could be used in any manner
        with any one, who is a willing participant…….

        If you understand the entirety of the essay and the closing statement and the
        actual nature for your present condition as its cause, then you will know
        that you are the victims of the scam called economics.

        The implied THREAT of our present situation is that of COLLAPSE, which is
        interesting but ask yourself who benefits from such an outcome……..after
        all who has borne the brunt of the pain which was caused by the greed of
        others……..if collapse actually occurs………Warren Buffet becomes another old man,
        with zero skills…who if he is lucky might actually have enough assets to make protecting
        him worth the risk…….and that would be true for everyone else, who
        is considered “wealthy” and living a privileged existance.

        The concern regarding the debt and austerity measures benefits them, under the
        guise of avoiding the collapse…..which is a reset…..because if it happens “all men
        are created equal” all over again, and Sam Colt helped.

        The solution to debt with interest, which will collapse any system, is debt forgiveness
        which you will find in the bible, and in other early “codes” concerning it…….

        The call for austerity, preserves the current state of affairs, lowers the cost of
        labor by means of restricting capital investment, which increasing the value
        of available capital….while reducing labor costs……..and available jobs.

        Meanwhile the number of “victims” increases, while those that are fortunate enough
        to continue to stay just a bit ahead, blame them……rather than the cause.

        This time around, the creditors have added a new twist……..eternal debt….
        because individual relief is no longer possible……..

        The situation will continue until a strong message is sent that given the choice,
        Debt is irrelevant………you see COLLAPSE is something THEY FEAR…….most
        of the uninformed here, are actually rooting for it………prepping as it were…..
        but if it happens it will not be pretty……

        Increasing Debt is a method of making those who caused this, take the hit
        they should have taken for doing so…..and have avoided thus far……and
        that includes the FED, if you believe they were responsible……..

        It may make them angry to have to part with their ill gains, but they still control the game….which is better than no game?

        • tony newbill

          Galt , with the plan of Zero Growth in the Policy making of Obama Administration policy makers who are the Environmental Marxists that want to save Earth from all Durable Growth , this Debt ran Government is why we see a lack of Solvency policies .
          That “ Fair Share ” thing is a word tool of the “ Save the Earth from Humanity Technocratic Environmental Society ” that’s taken over the Policy making in Washington , and Reminded me of this story I read this fine morning .

          Is This The Future Of World “Growth”? (Or The iPad vs Indoor Plumbing)

          http://www.zerohedge.com/news/2013-01-05/future-world-growth-or-ipad-vs-indoor-plumbing

          Obama and the Minions are using this process of “ Fair Share ” Mind altercation to change the way we think about economic growth and prosperity is my thinking .
          Close the gap on the HTTP ,
          ht tp://www.cbsatlanta.com/story/20119364/georgia-gop-leaders-suggest-obama-is-using-mind-control-techniques

      • Larry

        Galt, sorry but I could not finish reading your statement, perhaps you had something worthwhile to say, I will never know. I quit reading after the sentence that says the amount of gold doubles overnight. Only fiat can double overnight. Even with modern mining techniques I don’t know if the amount of gold could double in the next 100 years. It is this fact, that a politician or banker can’t create unlimited amounts of it with a few strokes of computer keys, that gives it it’s value. If you had actually read the book you might have understood that.

      • GALT

        Gee Larry thanks for letting me know…..I will cherish it always.

      • GALT

        tony this has nothing to do with Obama……or anything else except REASON….

        knowing where you are….and what you are doing…….

        I don’ t have an agenda……..I deal with REALITY.

        Listen or don’t that is your choice…….this is about you.

        If you were Buffet, maybe I’m dangerous, but I think he is smart enough to
        realize that in the scheme of things he is a complete waste of space and time.

        He was able to turn a profit, amorally…..in the end, he can’t even give his
        own money away……so as a human being, he has spent his life in a
        singular useless pursuit…….having no clue what damage he caused in
        the process………consequently, having no clue how to fix it…….so he
        picked Bill Gates…….who is equally clueless.

        Too little, too late…..no actual talent to begin with, just a properly positioned
        insect who got lucky.

        Why this IS has been explained……stay tuned for further developments,
        and by all means, if you can figure out the “scam” I am running…….
        DavidH will be very happy.

      • Mr.Ben

        Galt, after reading Graeber’s book, I can appreciate the message you have been posting about since I began reading PLD, “economics is invalid”. As Graeber repeatedly points out, an economy that allows usury, or using money for the intended purpose of making more money, will be the beginning of the end of any economy, big or small. Through this lens I can see where capitalism has erred.

        However, I do not agree (still) that the economy will fail “in any form”. When a community is allowed to choose their own system of money, whatever “thing” they choose will work until it’s replaced. A thing can only be exactly linked to other things if that thing has no real form or value of its own. If a mirror has no color, it will reflect all colors. The same goes for money, it has no purpose of its own, except as a medium to exchange other goods. This is why gold and silver were chosen as this medium. Before the modern age the only uses for these commodities were as jewelry and keeping well-water bacteria free. The perceptions and information pertaining to these commodities had little to no effect on their external value, as long as the issuance of this medium is left in the hands of those who use it. Gold IS the looking glass that shows the value reflection of different commodities. This was proven by the little-to-no growth or decline of gold’s value in comparison to other “things” in the 19th century.

        You bring up the doubling of the money supply as gold and silver began to flow from the new world to the old world. This was a one time historical event and has been marked by Austrian economists as further proof of the effects of inflation, when using any commodity as the medium for exchange. In today’s world, doubling the amount of gold and silver is near impossible. The amount of gold mined each year is used-up by industry, keeping this specific commodity from growing or shrinking. Silver is a different story.

        You say, “None of this actually matters, since there is no such thing as “sound money” and “economics” doesn’t work……..no matter what system you employ, the problem remains……….there exists no method or means by which one can establish a stable system or standard by which one can determine “asset”
        value. ( empirically )”

        This comment begins with an article by Krugman about printing the $trillion platinum coin. Do you follow and agree with Krugman’s constant call for more money being printed, regardless of form? If all attempts fail, does it matter who issues money or what form it takes? You recommended that I read Graeber’s book, but I don’t see much of a connection between his ideas and yours. With all of his evidence supporting debt, credit, and money, I don’t remember a single example where he supports the reckless belief that “there is no such thing as sound money” when people, not a nation, manage it.

  • http://nuosras.wordpress.com Lawrence Sarsoun

    The Constitution (A1,s10) requires gold and silver for debt. We have not had gold nor silver since 1965 so therefore there is no large trillion debt, indeed there is no money. Platinum is not money. Why should we give this platinum coin to the Federal Reserve? The Federal Reserve is no federal and has no reserves. They are a bunch of private bankster.

  • tony newbill

    Ok we are STUCK with Obamacare so lets get Creative ……..

    In reviewing the story below and the Trillion Dollar Coin idea this came to mind about the Debt Ceiling issue .
    Shouldn’t this be part of the Debt Ceiling Negotiations ? Why not take a look at this through the spectrum of Healthcare savings accounts as a way to build up the cost saving structure that includes the activity of people searching for healthcare coverage be a part of these states loophole benefit of creating competitive deductions to those states and people who buy healthcare coverage and or seek treatment in those states , say in comparison to how the deduction was offered in terms of use by how “ Mr. Schumer once proposed giving hunters tax deductions for contributions of killed deer to the needy” ? This same theory of the Honorable Senator Schumer could be the way people paying into their health saving account or state Pool or whichever states pool has the most competitive health saving structure, ie: through tax structures and competitive healthcare advantages , the payment by the Individual could be what Guarantees the Minted The Trillion Dollar Platinum Coin that is designed to stabilize the Debt Ceiling Mr. President , setting up the New Affordable healthcare Financial Structure in a Competitive manner ?
    If the States could Be made to compete for the Citizens Payment that is usually just a direct state benefit as is described below in the Fiscal Times article , and that payment instead is a Guaranteed revenue of the healthcare for the states and the states then have to Offer and provide healthcare insurance and treatment competitively to then access these tax benefits this would turn the healthcare industry into a better quality cost benefit for the nation , industry and individual I bet !
    Why Not use The Trillion Dollar Platinum Coin as a Healthcare Guarantee Reserve ?

    This would change the competitive structure of the healthcare industry , something needed to stabilize costs I think .

    Deductions that Reward the Worst Managed States
    Read more at ;

    http://www.thefiscaltimes.com/Columns/2013/01/09/Deductions-that-Reward-the-Worst-Managed-States.aspx#page1

    • Nan

      wow, you write such long sentences!

      • tony newbill

        I know , once I get going I can’t stop the flow … LOL

  • http://www.bohussung.wordpress.com Bo Hussung

    You miss the point, Bob. The Federal Reserve is a privately held cartel. Inflation is indeed a hidden tax, but printing money is not a function of the government, but a way for our banking system (Federal Reserve) to continue to manipulate public money for their gain. A beautifully sinister scheme that is unraveling in front of our eyes. DC is simply a pawn in that scheme.

    • JC

      Your eyes are clear on this one Bo! Most Americans are cross eyed on the Reserve.

    • http://www.boblivingstonletter.com/ Bob Livingston

      Dear Bo Hussung,

      You write: “You miss the point, Bob.” No. I do not.
      http://personalliberty.com/2010/07/05/40-miles-deep/

      Best wishes,
      Bob

  • Jim K

    At today’s spot a 1 trillion dollar platinum coin would weigh about 42.8 million pounds in real math, assuming it had real value.

    • 45caliber

      I doubt if there is enough platnium to make a single coin, much less all they want to make.

      • http://www.boblivingstonletter.com/ Bob Livingston

        Dear 45caliber,

        This is from the National Inflation Association: Throughout world history, only about 16 tons of platinum have been mined, which based on the current platinum price of $1,595 per oz would value all of the platinum produced in history at $816.6 million. In order to produce a real (non-fiat) $1 trillion dollar platinum coin based on the current platinum price, it would require 627 million ounces or approximately 20,000 tons of platinum. This equals 1,250 times more platinum than what has been mined in world history. Even if the U.S. was able to obtain all of the world’s platinum ever mined, the U.S. dollar would need to be devalued so that a $100 bill only has the purchasing power of what 8 cents does today.

        Best wishes,
        Bob

      • 45caliber

        Bob:

        That’s about what I had figured. Thanks for the verification.

    • ibcamn

      hey,you think Obama will put his ugly mug on the coin?and i’ll bet-”in god we trust” will be no where to be found!!or maybe the guys with hammers pounding the earth into a new shape!!think we the people will get to see what it looks like?it must be the way the progressives are trying to leave their mark in history,kinda like how people say the masons had their mark on the legal tender(dollar ),or maybe their trying to influence a NWO!hey,isn’t that what the meat head in the white house said a while back?maybe he’ll have a world coin made that’s going to be the start of his idea of that world currency he and his henchmen were talking about!!all this makes my head hurt…

    • ibcamn

      maybe Obama will make the metal platinum total 2% and 98% nickle,make the platinum spread around as much as possible!he’ll just call it platinum even though it’s not!kinda like what it would be worth!

  • Hedgehog

    Why not do something really radical? Right now you subsidize your politicians through confiscatory taxes and rampant inflation. You the people pay the politicians to govern you. Turn it around and make the politicians pay you for the privilege of exercising their antisocial hobby. Make them buy their patents of nobility. Make them pay you to be nominal serfs in their fiefdoms. But don’t give up your guns, because FORCE is the name of the game.

  • r b

    well, bob, kudos. you finally blame the politicians. it has always been the politicians. they are all corrupt.

    • http://www.boblivingstonletter.com/ Bob Livingston

      Dear r b,

      You write: “well, bob, kudos. you finally blame the politicians.” Finally? Where have you been?

      Best wishes,
      Bob

  • nc

    Mr. Livingston, you have a lot of opinions! Do you have an opinion as to the maximum budget in dollars that should be allowed to maintain a nation of 310 million for a 2 year period? Would your position on income tax create that amount of revenue should we have even a slight recession? The last major tax adjustment by bush and the Heritage Foundation did not consider the possibility of a recession and ended up with a 100% increase in the national debt. Can you promise that your plan won’t make those errors?

    • 45caliber

      I don’t know if he will but I can. No more than 1/4 of the national gross profits. If they can’t pay for everything they want on that, too bad. They can do like I have to do – priortize what I can afford.

    • http://www.boblivingstonletter.com/ Bob Livingston

      Dear nc,

      You write: “Do you have an opinion as to the maximum budget in dollars that should be allowed to maintain a nation of 310 million for a 2 year period?” I do not. I do know that it would easily be trillions less if all unConstitutional activities were ended.

      You write: “Would your position on income tax create that amount of revenue should we have even a slight recession?” Income tax are not for revenue for the government.
      http://personalliberty.com/2010/12/20/income-taxes-are-not-for-income-to-the-federal-government/
      http://personalliberty.com/2011/09/19/how-much-do-you-think-i-deserve-to-keep/
      http://personalliberty.com/2012/02/06/the-wrong-conversation-about-taxes/

      You write: “Can you promise that your plan won’t make those errors?” No. Because there is no telling what the DC psychopaths have in store for us at any time.

      Best wishes,
      Bob

    • TIME

      Dear nc,

      Ok, let see if I can explain this so even a person as simple minded as you.

      I start a business, you say you want to be my partner in this venture,
      { but I put up all the money,} { all the labor, all the effort ~ as in my time,}
      { I take all the risk. }

      You provide the following:
      Rules about whom I can hire, > rather they have the skill sets or not.
      What I must pay these persons,
      What benifits I must provide to these persons,
      What I can make as a product,
      Where I can sell this product,
      To whom I can sell this product ~ as well what I can ask for this product.

      For all that special aid you provide, oddly ~ I have to give you 50% of what I make in net profit.
      “I also have to pay you for Licences and fees,” every year for this special privilege.

      Yet you have not invested one single thing other than “restrictions” on what I can do with my money, oh and lets not forget that I HAVE to give you 50% of my NET profits for the privilege of your special aid.

      Yet the American people can’t figure out why we have not REAL JOBS, go figure.

      Why would anyone really want to go into any venture with such a partner?

      Peace and Love, Shalom

    • riedjacobsen

      From Wikipedia “Gross domestic product (GDP) is the market value of all officially recognized final goods and services produced within a country in a given period of time.”

      The Federal Government collects 17% of GDP as ‘revenues’. Last year Federal expenditures were 23% of GDP. I think both percentages need to be changed to lower numbers.

      How much of your income do you think the federal government needs? The state government? Your local government? Are you getting your money’s worth?

      Do you wonder why the deficit is so high?

  • 45caliber

    Mike Shedlock (commentator) has proposed the ideal picture for the front of this coin. Alfred E. Newman. For those of who you don’t know, Alfred is the person made famous for his comment “What; me worry?” on the front page of MAD Magazine …

  • northbrook

    Mr Obama, Even if you were dumb enough to have these coins minted what country would be dumb enough to accept them. I don’t believe this country has enough platinum to mint the number of coins required to pay out a trillion dollars at todays rate of exchange. I think this is more of your smoke and mirrors ways toavoid stopping the out of controlspending addiction that you have.

  • guest on this planet

    Why dont they just write a check like they have been doing , just make it out to china

  • pal-man

    Any person who does this should be arrested for treason. I have seen this before in Poland. They used to have zuloti money and they had printed so much that you got 25,000 for 1 dollar. Their money was not worth anything. In fact the washer that they put under the nail for their roofs cost 2 zulotis so they used the 1 zuloti coin as a washer and drove the nail through it. In Poland it did not seem so bad but outside Poland everyone knew that the zuloti was so weak so they could do nothing. Finally instead of continueing down this hole, they got a goverment in that devaluated their money and they took of 3 ooo from the all their money but this meant that if you had 3,000,000 zulotis in the bank for life savings then you suddenly only had 3,000. And most had a lot less say you had 30,000 from your years of working well in one day that turned to 30. many lost their life savings and were devistated but they were finally on the right track as a nation but had to go through this depression in order to turn around.
    If we keep printing dollars or coins when you have no real money to back it up then we will suffer the same fate. Printing more money is not the answer to debt. It just may give an illusion that the debt is not so bad as you have plenty of dollars but our debts from outside will not except our monopoly phony money. They will know if a dollar = adollar of debt owed or if a dollar = 1 penny of debt owed.
    The only way to deal with debt for a person or a nation is to start paying back. A person and even a business can get out of debt through bankruptcy as a last resort. It is punishing and should be for those who have made mistakes or just gotten way over their heads so they can never get out. But to pay debt and control spending is the best way out if you can do that in any way.
    A country can not get out of it’s debt through bankruptcy. it can default, or it can be responsible and slow down spending wherever it can. cut and do without and make a budget and stick to it for the future until most of the debt is paid. This is responsible for a person, family, business, and the government.
    Irresponsible immature, children or addicts deny their problem and keep down the path to destruction. They feel we need and have to have no matter what without ever looking at the cost. like they have some kind of money tree and they will never have to pay.
    The President, the controlling party of the Senate (who has the responsibility by law to amke a budget every year) are spending addicts. Their are some parts of the Senate and the House that realize our problem and have solutions to get on track through cutting spending. While some addicts think they can do what they want and let someone else pay the bill. This is completly unacceptable behaviour toraise the debt ceiling so it looks like you are not so bad. this would be like you going to the credit card which you have maxed out at $40,000 and asking for $80,000 limit so you would only seem to be 1/2 your limit even though you have no budget to pay what you owe now and would take you more than your lifetime to pay back. That would be stupid for the credit card to let you get further in debt when your actions prove you have not changed your spending behavior and do not intend to start. But this is what the President is asking for now. This is irresponsible, stupid, and addictive behavior.
    The dem. say we need to keep spending and do smoke and mirrors to hide the debt, rather than deal with it responsibly. The Rep say we need to cut speding and we must do it only in areas that are hardest. I beleive this is wrong as well. we need to cut but first start by selling all assets you can. Slim gov. jobs by cutting where ever you can like a family would. Do not bring a bill before a vote that has any pork in it. This way you can truely see if it is need or a want for the nation. If it is a need then you must have in the bill a way to pay for it so it does not add to the debt. Also some programs from the government must be turned over to the private sector who can run it better. Then lastly take on the hard things as people see you truely are serious about helping with the debt and cutting back then they can see you have cut things to the bone in all other areas now we must all be willing to make some hard decisions to help with entitlement programs and first waste must be addressed there. then the people will agree to help.

  • simon

    $IT coin + BS = congress and the white house.

    you can fool most of the useful idiots most of the time

  • David169

    I think the idea is inspired and can save the US from economic ruin. However they are looking at it the wrong way. Mint 18 coins and use 17 of them to pay off the national debt we owe to the Federal Reserve Bank. They don’t have to contain a trillion dollars worth of metal they just need to be declared worth a trillion dollars and for interbank use only. Take 600 billion in their currency and the last 1 trillion dollar coin and back 1.6 billion dollars of treasury notes (real US money) that would then be backed by the 300 billion dollars in gold that we hope is still in Fort Knox.
    The criminals who own The Federal Reserve Bank who have inflated or currency to almost worthlessness would just get a final and fatal does of their own medicine.

  • joszsrepublicanpage

    Just another ODUMBA brain fart ,,,,,,,,,,

  • Christopher Radulich

    Clueless as always It is easy for the fed to remove 1 trillion dollars from the economy for a net effect of zero

  • Matrix

    The price to pay for the sin of slavery is the cost of reimbursement that has bankrupted our once great nation.

    The slave has never been set free, as our prisons are filled with 70% African Americans at the cost of one obama coin a year.

    You cannot educate the slave as 50% drop out of free schools, and the cost of their ignorance is another obama coin a year.

    The slave still begs for his meal from his owner, but does not have to work in the field, in the master’s home or anywhere, for the slave is truly useless to his master, himself and the world at the cost of yet one more obama coin every year.

    The genetics still flow thru the slave as envy rages at one of their own being set free and working hard to better them and their family, for these traitors of the slave have no use in the sloth world of the American slave.

    Yet thru their ignorance, envy and personal greed, they came together as a culture and 94% reelected a slave master that will make slavery of the 18th century look mighty attractive to our current idiot population.

    The price to pay for the sins of the ignorant slave and those who rule them is OBAMA, and we will never recover from that debt!

  • Bob W.

    All this talk about what a platinum coin would weigh. The quarter in your pocket is made of copper and nickel, worth about 5 to 7 cents, yet the g’ment says it is a quarter and you simpletons believe them. Without real value to back it up, the G’ment can assign any value to any coin or note and supposably it would be OK.

Bottom
close[X]

Sign Up For Personal Liberty Digest™!

PL Badge

Welcome to PersonalLiberty.com,
America's #1 Source for Libertarian News!

To join our group of freedom-loving individuals and to get alerts as well as late-breaking conservative news from Personal Liberty Digest™...

Privacy PolicyYou can opt out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.