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Trillion Dollar Coins: The Ultimate Debt Ceiling End-Around?

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ymoilman2



Trillion Dollar Coins: The Ultimate Debt Ceiling End-Around?

By Gregory J. Krieg
@gregjkrieg
Follow on Twitter

Jan 4, 2013 6:00am


ht gold coin tk 120905 wblog Trillion Dollar Coins: The Ultimate Debt Ceiling End Around?

The Saint-Gaudens double eagle, a twenty-dollar gold coin, or double eagle, produced by the United States Mint from 1907 to 1933. (United States Mint/Wikimedia Commons)

With President Obama having kicked off debt ceiling negotiations by vowing not to negotiate over the debt ceiling, a new option for paying off the nation’s considerable tab is gaining momentum with cheeky fiscal and monetary wonks.

It goes like this: Should Congress fail to extend the U.S. debt limit — reached again on Dec. 31 — the president could ask the Treasury to begin printing trillion dollar coins (in a process explained mostly seriously by Jim Pethokoukis on his American Enterprise Institute blog), a number of which could then be put toward fulfilling debt obligations in the event new legislation stalls in Congress.

While there are laws in place to regulate how much paper, gold, silver or copper currency can be circulated by the government, there is nothing so clearly stated when it comes to platinum. That door open, the Treasury could have the U.S. Mint melt and mold a few trillion dollars of it, then ship the goods over to the Federal Reserve for safekeeping until the time comes to pay the bills.

The more difficult part comes sometime after the decision is made to coin the platinum and before the Mint gets to work in sculpting the pieces.

At that point, the American people must decide whose face will adorn the trillion dollar trinket. The process to determine the “specs” of the coin, U.S. Mint Public Affairs Specialist Genevieve Billia warns, must be “determined by legislation,” creating the potential for another congressional impasse.

Also to note: The likeness sculpted into its side must belong to a dead person, ruling out early favorite like a Monkey, but boosting the candidacies of  Ronald Reagan and John Maynard Keynes.

topspin2



Now this is insanity...over to the Federal Reserve for safekeeping.......Alrighty then.......arnt they the thieves of american assets....

ymoilman2



topspin2 wrote:Now this is insanity...over to the Federal Reserve for safekeeping.......Alrighty then.......arnt they the thieves of american assets....
No Worry. By That Time, FRB Would Have Been Absorbed By UST.

MartyM

MartyM

I'm affraid (YM) that in itself is not much of a security measure.
Lets see, one hand Fed.Res. Banksters. on the other hand, US Politicians... Hmmmm
   Not much of a choice is it ??    :spinningpumpki bat boy 

ymoilman2



MartyM wrote:I'm affraid (YM) that in itself is not much of a security measure.
Lets see, one hand Fed.Res. Banksters. on the other hand, US Politicians... Hmmmm
   Not much of a choice is it ??    :spinningpumpki bat boy 

No Worry About "Security" Measure, The End of FRN  Will Mean The End Of The Corporate USA Government And The Rebirth of The REPUBLIC  Under The Gold  or Asset Backed  American Dollars.

MartyM

MartyM

We'll have to see if it rolls out at the same time or in stages. Either way, the Republic IS the
ultimate goal. To me at least I think that's really more important than the RV. Of course I have no problem having both occur as quickly as possible...  :jumpinleaves: 

ymoilman2



MartyM wrote:We'll have to see if it rolls out at the same time or in stages. Either way, the Republic IS the
ultimate goal. To me at least I think that's really more important than the RV. Of course I have no problem having both occur as quickly as possible...  :jumpinleaves: 

Please Listen To This Video:

RISE UP - [Official Video]
https://www.youtube.com/watch?v=IOiUrF74F14

Posted by enerchi at 10/13/2013 01:09:00 PM

ymoilman2




Clashes in Washington between Vets and Police; Barricades Dumped in Front of Whitehouse [videos]
by 2012thebigpicture


http://thelibertarianrepublic.com/police-veterans-clash-outside-white-house-video/#axzz2guP6fQd2

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