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Opinions/Editorials Title: LET’S END THIS DEBT CEILING DEBATE WITH A $1 OZ. $1T COIN A reader points out a very interesting loophole in the debt ceiling debate that would give the US Treasury the ability to tell the US Congress to take their fearmongering and shove it you know where. Reader “Beowulf” notes: “No, Tsy isn’t authorized to just “print” money, the Federal Reserve Act gives that power to the Fed, However, the Coinage Act grants the Secretary of the Treasury rather broad coin seigniorage authority. Geithner could sidestep the debt ceiling this afternoon by ordering the West Point Mint to coin a 1 oz. $ 1 trillion coin. Tsy can then present the jumbo coins at the NY Fed to buy back $1 trillion in Fed-held debt (the Fed has to accept it, a creditor can’t refuse legal tender paid in to settle a debt): (h) The coins issued under this title shall be legal tender… (k) The Secretary may mint and issue platinum bullion coins and proof platinum coins in accordance with such specifications, designs, varieties, quantities, denominations, and inscriptions as the Secretary, in the Secretary’s discretion, may prescribe from time to time.” The simple threat of doing this would end this debate right here and right now. It’s time for Congress to stop playing Russian roulette with the US economy. If you want to take a stand on spending then do so before you pass legislation that causes us to run up into the debt ceiling. Don’t use some phony law to try to scare people into thinking that we are Greece (something that’s entirely impossible anyhow). Post Comment Private Reply Ignore Thread Top • Page Up • Full Thread • Page Down • Bottom/Latest Comments (1-62) not displayed.
You link the strangest damn things, thinking you are making sense. For phone hacking, I refer you to the Democrats dirty tricks division. war has to do something for entertainment. The voices in his head aren't speaking to him and his imaginary friends have found reasons not to come over anymore. #64. To: mcgowanjm (#58) European Stock Markets crashing. Some might consider this a time to buy and jwpegler needs to use YOUR money. LOLOL
#65. To: jwpegler (#62) continually post all kinds of evidence from all over the world for every position I take. Unfortunately, you, Lucysmom, and Goobershit are either too stupid, stubborn, or stoned to understand it. So I won't waste my time anymore. Post it now. You can start with where the first free market is located and what qualities determine it to be such.
#66. To: mininggold (#65) You can start Nope. I'm finished wasting time doing any research for you and your lunatic leftist buddies, because you are unteachable. So, just roll another one and toke away hippie. "Everything that can be invented has been invented."-- Charles Duell, Commissioner of US Patent Office, 1899 #67. To: lucysmomBadeye, A K A Stone, hondo68, Fred Mertz, Godwinson, go65, war, no gnu taxes, Skip Intro, ferret mike, jwpegler, brian s, mcgowanjm, Mininggold (#1) Sounds crazy, but... Not only is this idea crazy, it's flat-out STUPID. Unless made of $1T of precious metals, it would simply be another form of fiat money. In REAL terms, a $1T gold coin would weigh 40453074.4 pounds. This, by the way, works out to the approximate weight of not one, but two Ticonderoga-class guided-missile cruisers, as shown here: Were it made out of platinum, it would weigh 36231884.0579 pounds- the same mass as the Spanish aircraft carrier Spanish aircraft carrier Principe de Asturias, below:
Were you to have an inkling of economics, you'd already know that... On a more basic level, Geithner has been in the pocket of the big banks for years. The Federal Reserve is owned by those same big banks... You think Geithner- little pus-bag that he is- would ever do anything against the will of the banks? “If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.” The State can no longer hide the consequences of their 100-year lie. VERY interesting times are ahead. #68. To: Badeye, lucysmom, mininggold (#40) I don't believe anyone could suffer you without being drunk first. Ouch, THAT'S gonna' leave a mark! The only question is, which of her two personalities will this hit? Whining- old, or the loony-mom? I ask because ming IS loonymom... Oh, BTW, Badeye... according to ming/loony, if you aren't willing to "suffer" fools like her, she says you're "intolerant." Like that's a bad thing, LOL. “If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.” The State can no longer hide the consequences of their 100-year lie. VERY interesting times are ahead. #69. To: jwpegler (#66) Nope. I'm finished wasting time doing any research for you and your lunatic leftist buddies, because you are unteachable. So who designated you to a teaching position on this chit chat site? Especially since you can't even define your goals much less prove your theories. And you seem to be unaware that this is a discussion forum. You failed big time.
#70. To: jwpegler, mininggold, All (#62) but you continually come up empty but you continually come up empty Perfect description of the Last 30 years of Reaganism/TrumanDoctrine/BrettonWoodsGold Default. But not by looking at the BlueBar to the Right. We have over a thousand cable TV channels where I live, and none of them puts on a coherent news program on Sunday nights, so weekends have become news blackouts.
Looks like we're hours/days away: All these rich bible beatin' MFers gonna have to steal some more from their slaves. And I don't know if the slaves have any more to give...8D " "A comprehensive global energy transition is urgently needed in order to avert a major planetary catastrophe," the report warns. Might I interject? Perhaps our "rapidly expanding" use of fossil fuel energy itself can not be sustained for much longer. I suggest that somebody should take a long look at the situation. Certainly, crude oil does not seem quite so abundant as it once appeared to be. Perhaps somebody at the U.N. ought to look at the oil price trend since 2003. And then there's that pending, unresolved peak coal estimate. Country estimates of how much recoverable coal they have always seem to go down. And there's all that nonsense about shale gas. But I digress. In his preface to the report, Secretary-General Ban Ki-moon writes that "rather than viewing growth and sustainability as competing goals on a collision course, we must see them as complementary and mutually supportive imperatives. This becomes possible when we embrace a low-carbon, resource-efficient, pro-poor economic model."
"A comprehensive global energy transition is urgently needed in order to avert a major planetary catastrophe," the report warns. Might I interject? Perhaps our "rapidly expanding" use of fossil fuel energy itself can not be sustained for much longer. I suggest that somebody should take a long look at the situation. Certainly, crude oil does not seem quite so abundant as it once appeared to be. Perhaps somebody at the U.N. ought to look at the oil price trend since 2003. And then there's that pending, unresolved peak coal estimate. Country estimates of how much recoverable coal they have always seem to go down. And there's all that nonsense about shale gas. But I digress. In his preface to the report, Secretary-General Ban Ki-moon writes that "rather than viewing growth and sustainability as competing goals on a collision course, we must see them as complementary and mutually supportive imperatives. This becomes possible when we embrace a low-carbon, resource-efficient, pro-poor economic model."
#71. To: Capitalist Eric (#68) (Edited) Oh, BTW, Badeye... according to ming/loony, if you aren't willing to "suffer" fools like her, she says you're "intolerant I have never said that. But I'm truly sorry you unmedicated, low functioning Aspergers' are so easily confused. But again maybe that's a good thing. .
#72. To: Capitalist Eric (#68) Oh, BTW, Badeye... according to ming/loony, if you aren't willing to "suffer" fools like her, she says you're "intolerant." I know. The irony of course is the most intolerant people in America are in fact LIBERALS. Proxy IP's are amusing.....lmao #73. To: mininggold (#69) And you seem to be unaware that this is a discussion forum. You failed big time. They don't come here to discuss, they come to convince themselves, and each other, they're "normal). Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized. #74. To: mininggold, jwpegler, lucysmom, Badeye (#69) So who designated you to a teaching position on this chit chat site? Ming/loonymom, where you are concerned, everybody is in a position to teach you. You exhibit the typical leftist (i.e., socialist "useful idiot") traits of being both brutally stupid, and proud of your stupidity. Especially since you can't even define your goals much less prove your theories. Proof is posted here, daily, which effectively eviscerates your pathetic, nonsensical positions. So you choose to ignore the proof, because it's better- and easier- for you to live in the delusions of your mind, then face reality. But hey, that's what it takes to be a leftist- gross ignorance of reality, or the refusal to accept reality, once it is presented.
you seem to be unaware that this is a discussion forum. You failed big time. The failure is all yours, ming/loonymom. With every post, with every statement you make, you demonstrate that you are incapable of facing reality. You live in sound-bites, preferring the more interesting fiction of the leftist-MSM news, than real life. Chayefsky was talking about people like YOU, ming/loonymom, when he wrote:
Television is not the truth! Television is a God-damned amusement park! Television is a circus, a carnival, a traveling troupe of acrobats, storytellers, dancers, singers, jugglers, side-show freaks, lion tamers, and football players. We're in the boredom-killing business! So if you want the truth... Go to God! Go to your gurus! Go to yourselves! Because that's the only place you're ever going to find any real truth. -- Howard Beale, "Network" (1976) “If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.” The State can no longer hide the consequences of their 100-year lie. VERY interesting times are ahead. #75. To: Capitalist Eric (#74) More of your cut and paste filler but it does explain some of your delusions regarding internet posters here. I can see why your employers won't let you near a computer on the weekends.
#76. To: mininggold (#75) More of your cut and paste filler but it does explain some of your delusions regarding internet posters here. Translation: "Everyone is crazy except ME!" I can see why your employers won't let you near a computer on the weekends. Another nonsensical quote. LMAO!!! Nothing like proving my point! :) There are many weekends where I don't even bother to turn on my computer- much less the TV. Unlike you, I have a life. “If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.” The State can no longer hide the consequences of their 100-year lie. VERY interesting times are ahead. #77. To: Capitalist Eric (#76) There are many weekends where I don't even bother to turn on my computer- much less the TV. Unlike you, I have a life. Actually you don't if your job classification includes posting here.
#78. To: mininggold (#77) Actually you don't if your job classification includes posting here. Now THATs funny coming from you, whiningoldloonymom. Thanks for the laugh. war has to do something for entertainment. The voices in his head aren't speaking to him and his imaginary friends have found reasons not to come over anymore. #79. To: Rudgear (#78) Now THATs funny coming from you, whiningoldloonymom. Thanks for the laugh. I confess I don't get the "job classification" jab, which she seems quite familiar with. I'm guessing this has something to do with which station she holds at McD's? “If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.” The State can no longer hide the consequences of their 100-year lie. VERY interesting times are ahead. #80. To: Capitalist Eric (#79) Actually you don't if your job classification includes posting here. She just keeps tipping her hand as to her circumstances. war has to do something for entertainment. The voices in his head aren't speaking to him and his imaginary friends have found reasons not to come over anymore. #81. To: lucysmom (#73) They don't come here to discuss, they come to convince themselves, and each other, they're "normal). Ironic Owe-bama believes this same thing, only he applies it to the clear majority of voters in America. Proxy IP's are amusing.....lmao #82. To: mininggold (#64) Some might consider this a time to buy and jwpegler needs to use YOUR money. LOLOL I don't see how he gets it. Zero Duration Short Term Treasuries. ;}
#83. To: Rudgear (#63) You link the strangest damn things, thinking you are making sense. For phone hacking, I refer you to the Democrats dirty tricks division. BUWAHAHAHAHAHA intake BUWAHAHAHA 8D No Sense, eh? Google Murdoch Hacking Deleting Dead Girls Mail
See what comes up....8D
#84. To: Capitalist Eric (#67) What part of 1 OZ did you miss, CE? 8D
#85. To: mcgowanjm (#82) I don't see how he gets it. Giving what you now make in SS contributions to Wall Street to invest in their pyramid schemes. But maybe you work for the prisons or similiar where you don't have to contribute.
#86. To: Fred Mertz, mininggold, capitalist eric, lucy'smom, All (#84) (Edited) Yves is hot
More Proof That Obama is Herbert Hoover Not only is Obama assuring that he will go down as one of the worst Presidents in history, but for those who have any doubts, he is also making it clear that his only allegiance is to the capitalist classes and their knowledge worker arms and legs. You don’t need to go further than the first page of today’s New York Times for proof. The Grey Lady has realized rather late in the game that automatic stabliizers and emergency programs have been propping up the economy, and the fact that they are soon to disappear will be more than a bit of a downer. Apparently it is now OK for Pravda to make that shocking revelation from Moody’s (the source of the key data in the article) because the budget debate is so far advanced that the executioner has already started the downward swing of his axe; the only question is whether he will get a clean kill of the average citizen’s economic wellbeing or whether it will be a protracted, messy death. From the New York Times: www.nakedcapitalism.com/2...ma-is-herbert-hoover.html
#87. To: mininggold (#85) Giving what you now make in SS contributions to Wall Street Oh THAT!! ;} That one died with bush43's political capital. Now they have to do it illegally. Which means they still owe me. No matter what. And they'll give it to me, one way or the other. I'll take land in lieu of, for instance...8>D
#88. To: mininggold (#85) (Edited) "Even knowing how dedicated to bad ends Obama is, I still feel like I’ve walked into a parallel universe. He’s now determined to make these horrific entitlement cuts a sign of his manhood. This is “Change” for sure, to a more brutal, grasping, dog eat dog society, all administered by self serving elites. They will in the end reap the whirlwind they are creating, but not before it mows a path of destruction through our social order." Obama will go down as the next Hoover. bush43 having paved the way as Warren G Harding/Coolidge combined. The USEMpire will implode.
#89. To: mcgowanjm (#84) What part of 1 OZ did you miss, CE? Show me one ounce of anything that would be worth $1T. If you can't, then the article comes down to: let's create fiat money to retire fiat money... Get it, sonny? “If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.” The State can no longer hide the consequences of their 100-year lie. VERY interesting times are ahead. #90. To: Capitalist Eric (#89) Show me one ounce of anything that would be worth $1T. Nothing is worth anything - not even gold, except by agreement. Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized. #91. To: lucysmom (#90) Nothing is worth anything - not even gold, except by agreement. Ooops. You just dangled an abstraction in front of him.
#92. To: Capitalist Eric, Lucy's mom, All (#89) What part of 1 OZ did you miss, CE? And thank you. a perfect illustration on why you, CE, won't get it. img]
#93. To: lucysmom, Capitalist Eric, All (#90) Show me one ounce of anything that would be worth $1T. If you can't, then the article comes down to: let's create fiat money to retire fiat money... Nothing is worth anything - not even gold, except by agreement. 8>D
#94. To: All (#93) "The other problem is obvious: both Japan and the US have been on government borrowing binges. But both paid for the reconstruction/stopping depression efforts via more debt, not raising taxes on the very rich. This rich diet for the rich versus starvation diet for the poor leads to more, not less depression. Feed the poor and tax the rich leads to a fast-growing economy since it won’t pay to hoard wealth anymore."
#95. To: mininggold (#91) Ooops. You just dangled an abstraction in front of him. That's what money is, an abstraction. Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized. #96. To: Capitalist Eric (#79) I'm guessing this has something to do with which station she holds at McD's? Yep, cleaning toilets. They won't let her anywhere near the deep fryer. Stupid, stubborn and stoned is no way to go through life #97. To: jwpegler (#96) Yep, cleaning toilets. They won't let her anywhere near the deep fryer. I thought for sure you would be checking out all those mail order bride sites in order to educate them on the proper name for their product.
#98. To: mininggold (#97) (Edited) I thought for sure you would be checking out all those mail order bride sites loonymom, you really are a bitter old hag. You need to go out and get laid to get that big chip off of your shoulder. Stupid, stubborn and stoned is no way to go through life #99. To: jwpegler (#98) (Edited) loonymom, you really are a bitter old hag. And getting you to call names in your confused state is just too much fun. Maybe you should practice your educashun skills on educating those websites.
#100. To: jwpegler (#96) Yep, cleaning toilets. What's wrong with cleaning toilets. Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized. #101. To: lucysmom (#8) How would a 1T coin fall into enemy hands? The old fashioned way. By spending it. Or it could simply be stolen. If it's like any coin, the bearer is the presumed owner.
#102. To: Pinguinite (#101) How would a 1T coin fall into enemy hands? The denomination, $1 trillion, would make it pretty unique - not many could make change for that. Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized. Top • Page Up • Full Thread • Page Down • Bottom/Latest |
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