The $1 Trillion Platinum Coin
January 9, 2013 by Bob Livingston
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.