Trillion-Dollar Platinum Coin...

[LTS TRN 2]

It's a miracle! Why didn't we think of this sooner?

The Treasury has the ability to mint a coin in any denomination, deposit it into its Federal Reserve account and use it to pay off its debts -- essentially getting rid of the debt ceiling threat for now. A petition to the White House to use the coin had more than 4,000 signatures as of Monday afternoon.
“Should President Obama be willing to print a $1 trillion platinum coin if Republicans try to force America into default? Yes, absolutely,” Krugman wrote. “He will, after all, be faced with a choice between two alternatives: one that’s silly but benign, the other that’s equally silly but both vile and disastrous.”



Let's get this done!

[Dinsdale]

So, we can add "economics" to the myrioad things you're clueless about, along with anything that involves any type of science.

Alrighty.

Because printing money has always proven to be sound economic policy.

While I have complete disdain for the GOP, they're right on this one.

[smackaholic]

So, we can add "economics" to the myrioad things you're clueless about, along with anything that involves any type of science.

Alrighty.

Because printing money has always proven to be sound economic policy.

While I have complete disdain for the GOP, they're right on this one.

Yeah, counterfeiting trillion dollar coins sounds benign enough to me.

Fuggit, print 20 of them so we can have a 4 trillion dollar surplus!

Happy days are here again
The skies above are clear again
So, Let's sing a song of cheer again
Happy days are here again!!!!!!

:grin: :grin: :grin: :grin: :grin: :grin: :grin: :grin: :grin: :grin:

[LTS TRN 2]

So..there's still $142,000 on the credit card? Well sheeeit, that's enough for a crate of Skoal and session or two on an on-line poker site. And if we lose, mint another miracle coin.

[Mikey]

While the debt is clearly out of control and needs to be reigned in, using the debt ceiling to force spending cuts is not the way to do it. The debt already there. The money has been appropriated and spent. Refusing to raise the ceiling is like refusing to pay down your credit card.

The Republicans' take on this is a lot like Cleavon Little in Blazing Saddles where he holds a gun to his own head and says "next man makes a move the mvscal gets it."

[mvscal]

While the debt is clearly out of control and needs to be reigned in, using the debt ceiling to force spending cuts is not the way to do it.

So what is the way to force (meaningful) spending cuts? I'm all ears.

[Dinsdale]

He's generally a douche, but McConnel finally got one right about overcoming the "addiction."

BTW, LTS... your troll is showing here. Stay focused, bro. We need you to put your spin on the lefty talking points, not mock them. The board won't be the same if your true colors show through.

[Screw_Michigan]

While the debt is clearly out of control and needs to be reigned in, using the debt ceiling to force spending cuts is not the way to do it.

So what is the way to force (meaningful) spending cuts? I'm all ears.

First for starters we can cut the incredibly bloated DoD budget.

[Mikey]

While the debt is clearly out of control and needs to be reigned in, using the debt ceiling to force spending cuts is not the way to do it.

So what is the way to force (meaningful) spending cuts? I'm all ears.

No you're not. More like 90% asshole.

http://www.senate.gov/CRSReports/crs-pu ... 0%20%20%0A

[mvscal]

So you've got nothing. I can't say that I'm surprised.

[Dinsdale]

While the debt is clearly out of control and needs to be reigned in, using the debt ceiling to force spending cuts is not the way to do it.

So what is the way to force (meaningful) spending cuts? I'm all ears.

First for starters we can cut the incredibly bloated DoD budget.

Couldn't agree any more.

And since NASA no longer has much of a space program, and devotes its resources to fabricating climate data (FACT), they can be cut by at least 90%.

The NOAA can go fuck themselves.

Wanna go to college? Get a private schollie, or get a job. The rest of us can't afford it anymore.

"Scientific" grants to study mating habits of dung beeteles in Africa? Buh-bye.

Foreign aid to... anyone? Sorry, that well ran dry.

Farm subsidies? Subsidizing unemployment of small farmers isn't any too bright... done.

Billions for the NSA to record all of our phone calls? CAN YOU HEAR ME NOW????

How many people has the Department of Education actually educated in 30+ years? I'm pretty sure they're still stuck on "zero." Ixnay.

Has the Department of Energy produced any energy? Yeah, that's what I thought. Gonzo.

Fanny and Freddie were sure good ideas. Mission: Abort. Take that whore Sallie with you.

The TSA? I think we pay a little too much for the privilidge of being strip-searched. 90% budget reduction.


The War on Freedom Drugs? Pretty sure we can chalk that one up as a "L." The DEA can go fuck themselves.

The ATF (BATFE) -- using taxpayer money to curtail the Constitutional Rights of Americans seems a bit counterproductive... 90% reduction in budget.


Fuck, put me in charge, and this shit would get fixed in a hurry. The basic premise being "it's not your money, stop asking for it."

Heck, I'd do away with the income tax. There should be 51 tax returns filed each year -- 1 for each state, plus DC (and however we deal with Puerto Rico, Guam, etc). If Oregon, for example, has 1.4% of the nation's population (or whatever the number... that's why we have a census), Oregon should be on the hook for 1.4% of the federal budget, and the voters of Oregon (or fill in the state) can decide how they want to raise it (since we get 1 federal vote every 4 years, and a buhzillion state votes every year or two, seems a bit more democratic to me).

Damn, if it wasn't for the criminal record (albeit misdemeanors) and the substance abuse issues, I'd make one HELL of a politician.


But hey, at least Obummer gave the most inept congress in history a pay raise. Can't say I blame him, since the less congress does, the better for the country.

[LTS TRN 2]

He's generally a douche, but McConnel finally got one right about overcoming the "addiction."

BTW, LTS... your troll is showing here. Stay focused, bro. We need you to put your spin on the lefty talking points, not mock them. The board won't be the same if your true colors show through.

In the land of the giant Ponzi economy, the man with the platinum coin minting machine is king. Let's knock out a few just to get us back in the black, and then go after the pentagon. It's more than a good start.

[Shlomart Ben Yisrael]

Debt isn't as catastrophic as some Chicken Littles make it out to be.

You can't (and shouldn't) wipe out debt. It's the strongest bulwark against deflation (wage deflation in particular).

[LTS TRN 2]

Sure, and Spain will be happy to hear your analysis.

Can you spare a platinum coin, Senor ?

[Shlomart Ben Yisrael]

Turn off the Alex Jones, Felchco.

[LTS TRN 2]

He's a bit much. I thought his Bohemian Grove undercover vid was mildly interesting but no, we don't need to entertain the urgent paleoconservative to realize and accept the fact that of course 9/11 was a huge inside job. Obviously a total fake like you can't begin to debate anything, so just keep being the dotty little quipster or whatever it is you think you're doing. :wink:

[Shlomart Ben Yisrael]

Michael Rivero?
Jerome Corsi?
David Icke?


Apply a cold compress and go to bed, Felchco.

[LTS TRN 2]

This is the magic Platinum Coin thread, B-juice, I think you're lost or confused, or both. There's no "conspiracy" that this odd loophole exists in the government's regulations. Whether Barry will actually do it is moot.

[Shlomart Ben Yisrael]

You are a freak.

[War Wagon]

You come home from work and find that there has been a sewer backup of epic proportions. It is quite literally up to the ceiling. What do you do? Pump out the shit, or raise the ceiling?

You get a backhoe and dig up the clogged sewer pipe and replace it. Then you pump out the shit.

[LTS TRN 2]

And you're a boring little punk. Aww..

[mvscal]

Let's knock out a few just to get us back in the black, and then go after the pentagon. It's more than a good start.

Why not simply repudiate the debt and default then? Why bother with the charade?

[Left Seater]

While the debt is clearly out of control and needs to be reigned in, using the debt ceiling to force spending cuts is not the way to do it.

So what is the way to force (meaningful) spending cuts? I'm all ears.

First for starters we can cut the incredibly bloated DoD budget.

If we going to talk about bloated budgets lets get to the real issues, entitlements.

Social Security 20.4% of spending
Medicare 13.1%
Medicaid/CHIP 8.1%
Low income assistance 5.3%

46.9% of spending is on entitlements.

Add to that the interest we pay which is 5.7% of spending, unemployment at 4.6%, federal retirement at 3.5%, and other health care programs at 2.6%. Add that all up and you are at 63.3% of spending.

Given that we borrow 36 cents of every dollar spent, our spending on handouts equals all of our income. Read that again! All of our income is spent on handouts. We are forced to borrow every single penny spent on anything and everything else.

[BSmack]

The Republicans' take on this is a lot like Cleavon Little in Blazing Saddles where he holds a gun to his own head and says "next man makes a move the mvscal gets it."

Candygram for Mongo!

[LTS TRN 2]

Let's knock out a few just to get us back in the black, and then go after the pentagon. It's more than a good start.

Why not simply repudiate the debt and default then? Why bother with the charade?

Because with a handful of these magic coins we won't be defaulting at all. What I really like about them is the efficiency. Forget about wheelbarrows of 1000,000,000-mark notes for a loaf of bread. Shit, one magic coin is worth a trainload of bills. Right? Let's try it. After all, we've tried other lunacy on a grand scale--with catastrophic results. This one might actually work.... :?


I'm hiding right now in a gated compound with lots of money stashed away...ha ha...

[Y2K]

I wonder if I go out and steal enough catalytic converters the Treasury will make me a Trillionare...hmmm

[Derron]

Damn, if it wasn't for the criminal record (albeit misdemeanors) and the substance abuse issues, I'd make one HELL of a politician.

Disagree. This makes you well qualified to be a politician. You would have to learn how to whore yourself out for money though.

Went to see "Lincoln yesterday. Should be mandatory viewing for all Americans. There were fucked up politically then too, but right at the start of the movie, there is a scene where 2 soldiers recite:

that this nation, under God, shall have a new birth of freedom—and that government of the people, by the people, for the people, shall not perish from the earth.

Sets the tone for the whole movie.

And rack my 11 pound steelhead out of the Wilson on Sunday. Damn fine eating.

Just so you know, there are sensible people trying to correct the political situation in our state.

You're invited to an Open Discussion on the Local Liberty Movement on Saturday, January 12th at the Izzy's Pizza Buffet private room (downtown Beaverton on Broadway). The discussion starts at 7 pm. At 8 p.m. local author and sound money advocate Bernie Vancil will discuss his new book Fairy Tale Economics.

If you cannot attend the big evening discussion, there will be a small discussion at 11 a.m. at the same location.

Here are the main comments I received from you recently:
- The Republican Party is holding us back from achieving our true potential.
- We shouldn't look to D.C. for solutions.
Here are your suggested topics for discussion:
- create a platform for the local liberty movement
- organize open topic meetings
- set up a booth at farmers markets, colleges, etc. and show videos
- educate people about the Libertarian Party and get them registered
- use humor to educate
- try to take over the local Democrat party in addition to the Republicans
- recruit more liberty-minded Republican PCPs
- run for office (non-partisan county commissioner and metro)
- promote freedom to farm (raw milk, etc.)
- promote good health as the path to freedom
- create an internet forum for local issues and activities
- go door-to-door with petitions to find friends of liberty
- promote alternative money as a lifeboat from the sinking dollar

[LTS TRN 2]

Indeed he's just the face of the crime. Did you know that Greenspan was in fact the executor of Ayn Rand's will? But it was in fact Bubba who signed the little law allowing the amazing magic platinum trillion-dollar coin option. Yep, with a stroke of his pen he may turn out to have saved the world from a total economic collapse.

Fellas, when you smoke down a pussy-soaked cigar, it's amazing what kind of ideas you can come up with...a trillion-dollar coin...

[BSmack]

Went to see "Lincoln yesterday. Should be mandatory viewing for all Americans. There were fucked up politically then too...

For New Yorkers, one of the best parts of the movie was when Seward said he knew a few operators out of Albany who knew how to buy votes. Obviously not much has changed in the Empire State in the past 147 years or so.

[War Wagon]

Fellas, when you smoke down a pussy-soaked cigar, it's amazing what kind of ideas you can come up with.

Damn, never thought I'd say this.

Rack LTS.

[Dinsdale]

entitlements

Social Security 20.4% of spending

While I agree with cutting "entitlements," how the fuck did you get the idea in your head that Social Security is an "entitlement."

Unless you meant "the federal government seized people's money by force, but promised to give it back somday, and now the people they took it from feel entitled to whatwas taken from them for a specific purpose, yet ended up being used for an entirely different purpose."

Is that what you meant by "entitlement"?

[Wolfman]

You want a real treat? Go to your nearest Social Security office and count the number of people over say 63. Compare that to the numbers of (mostly women and children there) under 40. That's the entitlement part. When I was teaching I had a student tell me he was staying in school till age 18 and not dropping out at 16 to go to work because he was labeled as "learning disabled" and his parents got money from the SS system for it.
Anyone else remember when Barry Goldwater was vilified because he wanted to privatize the system so people could have real investments?
Best Ponzi scheme ever invented, I say, and I'm getting some of my money back. Sad to say you young guys are probably shit out of luck.
And while I'm at it and while the economic geniuses are at it---why bother with a trifling 1 Trillion coin? Why not make a $100,000,000,000,000,000,000,000,000,000,000 coin to hold us over till say 2500?
And get the hell off my lawn, dammit!

[Left Seater]

Point taken Dins, but don't forget that Social Security isn't just payments in and retirement payments back out when someone retires. SSI and disability are also a part of it and those are completely entitlement programs.

Every year I get the mailer that shows how much my wife and I will each get when we "retire" and we have a good laff over it. I doubt I will see much of anything from SS when I retire. Within the next decade we will likely see a means test required upon reaching "retirement". Many who have paid in will then not get repaid. Some will get partial.

At that point what is my incentive to pay into the system? How is it not an entitlement at that point?


SS should end immediately for everyone under 50. Those at 50 or above should still get some sort of benefit, but the rest of us shouldn't. Payments into the system should be phased out over the next 5 years.

[Cuda]

Can you spare a platinum coin, Senor ?

Diego is desperately checking the couch cushions at this very minute...

[LTS TRN 2]

Yes, cuder, that's correct. That's why I offered the humble Spanish peasant as a response to B-juice's ludicrous Hoover Institute gibberish concerning the necessity of maintaining debt.

The fact of the trillion-dollar coin is indeed a reality, as hard as this may be to believe. And as improbable as its actual minting may be, it is the practical response of doing it which is significant. And this practicality is very clearly the radical and reckless (really desperate and flaming) mode of the circled and suicidal GOP. As pointed out on other threads, the party of Lincoln has degenerated into bizarre kooks and bitter corporate puppets. And they will run our economy--and thus the whole world's--right off a cliff just to bring about their demented agenda--which is quite simply a reversal of ALL the progress achieved in the last 100 years. That is, they want a huge work force with no unions or power toiling for transnational corporations which pay no taxes. They seem to believe that everything should be privatized--from highways to hospitals.

Minting and implementing a trillion-dollar coin to technically check the deficit would put the brakes on this disgusting and vile movement, and is a good thing indeed--and not nearly as insane as the "cliff" itself.

[Dinsdale]

and is a good thing indeed--and not nearly as insane as the "cliff" itself.

Yeah, cutting spending back to 2008 levels would be disasterous.

[LTS TRN 2]

The agenda of the GOP is to attack Medicare and Social Security. If cutbacks in reckless spending are in order--and i agree they are--then let's get serious about cutting the pentagon budget. There is not a single war or attack right now in which we have any business. Not one.

[Cuda]

The agenda of the GOP is to attack Medicare and Social Security. If cutbacks in reckless spending are in order--and i agree they are--then let's get serious about cutting the pentagon budget. There is not a single war or attack right now in which we have any business. Not one.

in terms of "bang for the buck" nukes are way more cost æffective than drones, btw

[Mikey]

Social Security is not paying out more than it collects, BTW. So I'm not sure how it suddenly started contributing to the deficit.

[Mace]

Social Security is not paying out more than it collects, BTW. So I'm not sure how it suddenly started contributing to the deficit.

You might want to re-check your figures, Mikey, because I just got a $25 bump in my check. :)