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The Trillion-Dollar Platinum Coin
Commentary, by John Steele Gordon
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Original Article
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Posted By:pineledger, 1/10/2013 6:57:06 AM
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| There is a new idea racing through the chattering classes for how President Obama could avoid the debt ceiling. (Snip)Of course, there is one small problem: Platinum is currently selling for about $1,590 a troy ounce. So a $1 trillion coin would weigh 26,221 “troy tons,” which might present a bit of a transportation problem getting from the mint to the Federal Reserve. There is also the problem that nowhere near that much platinum has ever been mined since the metal first came to the attention of chemists in the 1740s.
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Comments: So the trillion dollar coin would be "on paper" only.
Same old same old.
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Reply 1 - Posted by:
GreatGreyhounds, 1/10/2013 7:04:21 AM (No. 9108395)
Then why not make 300 Million of them, and give one to every American Citizen!
We would all be in the top %2 of earners and then the IRS could tax us at the new tax rates, and our deficit would just disappear!
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Reply 2 - Posted by:
Liberal like Jefferson, 1/10/2013 7:12:16 AM (No. 9108409)
Darn. I was waiting to see who would be tapped to return the Dems Magic Coin from whence it came and throw it into Mount Doom.
.....my precious.....
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Reply 3 - Posted by:
MOBeef4u, 1/10/2013 7:39:52 AM (No. 9108437)
If we could just wake up the LIVs to the reality of how much 1 trillion, let alone 16+ trillion, is...I know, probably a lost cause.
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Reply 4 - Posted by:
Grace Veritas, 1/10/2013 7:41:00 AM (No. 9108441)
Stamp out a few trillion dollar coins.
Send them to the Chicoms to settle our debt with them.
Problem solved.
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Reply 5 - Posted by:
Spidey, 1/10/2013 7:44:41 AM (No. 9108446)
This coin scheme has nothing to due with the debt ceiling but the simple fact that Obama simply can´t borrow the money any more to feed all the left wing money gulpers.
Is a foreign government actuality going to accept this funny money as a debt payment? I don´t think so. I can´t put a coin in a bank and make credit card payments off it.
We´re only at the tip of the iceberg on money shortage,Obamacare will finish us off.
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Reply 6 - Posted by:
john56, 1/10/2013 7:51:43 AM (No. 9108460)
I guess if Dear Leader(US) could get a couple of his bundlers to sell about two dozen of these, we´re outta debt.
Reminds me of the old Depression era joke. A guy is selling applies from a cart in the city with a sign: "Apples $5." You´d normally pay 5 cents for an apple at the time.
When somebody tells the guy that he´s not going to sell many apples for five bucks, he replies, "Well, I only gotta sell one."
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Reply 7 - Posted by:
Hoosier, 1/10/2013 8:31:53 AM (No. 9108507)
I´m hoping to find one in the sofa.
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Reply 8 - Posted by:
tehtriggerman, 1/10/2013 8:55:54 AM (No. 9108546)
If they can print this amount why are we enslaved paying taxes?
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Reply 9 - Posted by:
uno_thatguy, 1/10/2013 9:22:43 AM (No. 9108603)
I have in my possession two $50 Trillion dollar bills from Zimbabwe. (Yep, they´re real money.) I´d be willing to sell both of them to hussein the Insane for a mere $1 million US. Sounds like a good deal to me!
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Reply 10 - Posted by:
jimK1, 1/10/2013 10:11:43 AM (No. 9108719)
Hang on to those, they may be worth more than our money in short order.
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Reply 11 - Posted by:
evansj42, 1/10/2013 10:16:29 AM (No. 9108731)
The fact that someone even came up with this dain bramaged idea is frightening. As soon as the coin hit circulation our money supply is instantly worthless; We´ll be instant millionaires and billionaires but everything will cost in the hundreds of trillions and quadrillions. But, maybe that is the goal: destroy America´s financial standing and then maybe we´ll be ready for that old one world government thingy (i.e. Agenda 21).
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Reply 12 - Posted by:
blunderbuss, 1/10/2013 12:38:16 PM (No. 9109115)
Yet another hint of the bad old Weimer German republic runaway inflation.
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Reply 13 - Posted by:
bona fides, 1/10/2013 2:08:53 PM (No. 9109285)
We´re on par with thousand-year old so-called primitives (from Wikipedia):
The perceived value of a specific stone is based not only on its size and craftsmanship but also on the history of the stone. If many people—or no one at all—died when the specific stone was transported, or a famous sailor brought it in, the value of the rai stone increases.
Rai stones were and still are used in rare, important social transactions such as marriage, inheritance, political deals, sign of an alliance, ransom of the battle dead or, rarely, in exchange for food. Many of them are placed in front of meetinghouses or along pathways. The physical location of the stone may not matter—though the ownership of a particular stone changes, the stone itself is rarely moved due to its weight and risk of damage. The names of previous owners are passed down to the new one. In one instance, a rai being transported by canoe was accidentally dropped and sank to the sea floor. Although it was never seen again, everyone agreed that the rai must still be there, so it continued to be transacted as genuine currency. What is important is that ownership of the rai is clear to everyone, not that the rai is physically transferred or even physically accessible to either party in the transfer.
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Below, you will find ...
Most Recent Articles posted by "pineledger"
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Most Active Articles (last 48 hours)
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Most Recent Articles posted by "pineledger"
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Margaret Thatcher funeral: US opts for low-key official representation
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Guardian (UK), by Peter Walker
Original Article
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Posted By: pineledger- 4/16/2013 2:07:53 PM
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The US is to send distinctly low-key official representation to Lady Thatcher´s funeral on Wednesday, with a delegation led by George Shultz and James Baker, who both served as US secretary of state while Thatcher was in power. While Barack Obama was invited, he has opted to send a presidential delegation comprising no serving politicians. Shultz was secretary of state to Ronald Reagan while Baker served the elder George Bush. Also representing Obama will be Barbara Stephenson, chargé d´affaires at the US embassy in London, and Louis Susman, the recently departed ambassador to Britain.
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The Obama Subprime Bubble
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Investor´s Business Daily, by Editorial
Original Article
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Posted By: pineledger- 4/16/2013 4:10:26 AM
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The administration is fueling another housing bubble by pushing lenders to finance homes for people who can´t afford them. Pressure is coming from all corners of government. President Obama is worried about a plunge in new-home buying among minority borrowers with subprime credit scores. So he´s using the Federal Housing Administration, for starters, to help finance failure. In a reckless gambit, FHA is asking lenders to relax lending standards, while assuring them it will back home loans down to a 580 FICO score with a minimal down payment and high debt-to-income ratio.
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Chilling images from inside the mass indoctrination ceremonies where communist ´cult´ leaders brainwash North Korea´s children
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Daily Mail (UK), by Simon Tomlinson
Original Article
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Posted By: pineledger- 4/12/2013 11:31:48 AM
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They are barely seven years old, but these glum-looking children are already being drafted into a tyrannical regime hellbent on waging nuclear war with the world. Standing in arrow-straight rows, their faces are hardly the picture of happiness as they are forced to pledge their allegiance to North Korean dictator Kim Jong Un and call him ´father´. Troubling images of them being inducted into an organisation likened to the Hitler Youth emerged as their despot leader pressed ahead with plans to launch a ballistic missile, potentially with nuclear capabilities.
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Sebelius Tries To Blame GOP For Coming ObamaCare Failures
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Investor´s Business Daily, by Editorial
Original Article
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Posted By: pineledger- 4/12/2013 4:50:03 AM
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Health Care: As Democrats grow increasingly worried that ObamaCare will explode on the launch pad just as midterm elections get going, the Obama administration seeks to pin blame on Republicans. Good luck with that. Earlier this week, Health and Human Services head Kathleen Sebelius admitted that she didn´t realize how complicated getting ObamaCare off the ground would be. Sebelius complained that "no one fully anticipated" the difficulties involved in implementing ObamaCare, or how confusing it would be with the public.
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Why Is White House Stonewalling On Benghazi?
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Investor´s Business Daily, by Rep. Dana Rohrbacher
Original Article
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Posted By: pineledger- 4/9/2013 6:41:48 AM
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More than six months since Ambassador Christopher Stevens was assassinated by terrorists in Benghazi, the Obama administration is still trying to keep a lid on information about the attack. Congress and the American people need to know what happened the night of Sept. 11, 2012. Who did the killing and what was their motive? Why wasn´t help sent? And why did the administration lie about who was responsible? (Snip) The identities of those Americans who were there, including those who were wounded, has been kept from congressional investigators who have a constitutional responsibility to oversee U.S. foreign policy
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The Slow Death of the American Author
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New York Times, by Scott Turrow
Original Article
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Posted By: pineledger- 4/8/2013 8:30:22 AM
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Last month, the Supreme Court decided to allow the importation and resale of foreign editions of American works, which are often cheaper than domestic editions. Until now, courts have forbidden such activity as a violation of copyright. Not only does this ruling open the gates to a surge in cheap imports, but since they will be sold in a secondary market, authors won’t get royalties. (Snip)But it is the latest example of how the global electronic marketplace is rapidly depleting authors’ income streams.
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´My bangs are getting a little irritating´: Michelle Obama admits she already regrets her high-maintenance hairdo
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Daily Mail (UK), by Margot Peppers
Original Article
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Posted By: pineledger- 4/7/2013 7:43:42 AM
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Michelle Obama has admitted that she is already tired of the bangs she first sported in January. The First Lady said in an interview with Entertainment Tonight: ´Bangs are a day-by-day proposition. They´re starting to grow out, get a little irritating.´ Still, she hasn´t let her hairdo woes get her down. ´It´s okay,´ she said after her initial complaint. ´We´ll be good.´ The first indication that her hairstyle was becoming a burden came about last weekend, when Malia, 14, was spotted adjusting her mother´s hair during the White House Easter Egg Roll.
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U.S. Adds Only 88,000 Jobs; Jobless Rate Falls to 7.6%
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New York Times, by Catherine Rampell
Original Article
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Posted By: pineledger- 4/5/2013 9:23:27 AM
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For the 30th straight month, the United States economy added jobs in March, albeit still at a pace too sluggish to put a big dent in the backlog of 11.7 million idle workers. The nation’s employers increased their payrolls by 88,000 last month, compared with 268,000 in February, according to a Labor Department report released Friday. The unemployment rate, which comes from a different survey, ticked down to 7.6 percent from 7.7 percent. The slight decrease in the unemployment rate occurred not because more unemployed people got jobs,
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Bank of Japan launches easing campaign
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Wall Street Journal, by Takashi Nakamichi and Tatsuo Ito
Original Article
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Posted By: pineledger- 4/4/2013 8:54:41 AM
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Tokyo—The Bank of Japan [8301.JA +4.83%] is pulling out all the stops to get the economy out of deflation, its new governor said, after the central bank rolled out aggressive easing measures that surprised markets, pushing bond yields to an all-time low and boosting share prices. At his inaugural policy board meeting Thursday, Haruhiko Kuroda convinced the nine-member panel to agree to a major expansion of government bond purchases, including buying longer-term debt, which is designed to drive down longer-term rates. The BOJ also broke free from some self-imposed limits that the previous leadership under Masaaki Shirakawa adhered to.
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He Wears the Mask
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New York Times, by Ta-Nehisi Coates
Original Article
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Posted By: pineledger- 4/4/2013 6:41:02 AM
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The present darling of the right wing, Dr. Benjamin Carson, is a distinguished neurosurgeon who went from the depths of Detroit poverty to the heights of Johns Hopkins Hospital in Baltimore. But his current status among conservatives isn’t so much rooted in Carson’s redemptive rise from rags to respectability, as it is in the belief that he is, in the long winter of Obama, the one they’ve been waiting for. (Snip)He then cast himself as a victim of political correctness, besieged by white liberals — “the most racist people there are”
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How the I.R.S. Hurts Mothers
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New York Times, by Lilian V. Faulhaber
Original Article
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Posted By: pineledger- 4/4/2013 6:06:53 AM
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Boston--Lost in the debate between Anne-Marie Slaughter’s chronicle of the obstacles confronting career-oriented mothers and Sheryl Sandberg’s call to “lean in” is a crucial reality: taxes. Women — no less than other humans, it turns out — can be rational economic actors. The tax code starts with a bias in favor of couples in which one partner works and one stays home. (Snip) What does is the tax code’s treatment of child care.
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Did Putin Sink Cyprus?
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New York Times, by Ben Judah
Original Article
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Posted By: pineledger- 4/3/2013 5:58:03 AM
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Istanbul--The blue-glass skyscrapers of Moscow City — fragments of Russia’s boom-time dream — are visible from the Kremlin walls, within which there was once hope that those towers could supplant the West’s financial centers. When the sun sets behind them, you can see that many of the offices lie empty.In fact, the real hubs for Russian banking are in other countries. Moscow’s billionaires squirrel their fortunes abroad, and many businessmen register their companies as British, Dutch, Swiss or Cypriot — anything but Russian. Whistle-blowers would have us believe that even President Vladimir V. Putin stashes his money offshore.
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Most Active Articles (last 48 hours)
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White House snub to Thatcher: Obama won´t send envoy - and leaves it to her old allies from the Reagan era
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Daily Mail (U.K.), by James Chapman
Original Article
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Posted By: Desert Fox- 4/15/2013 9:50:39 PM
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Friends and allies of Baroness Thatcher expressed ‘surprise and disappointment’ last night as it emerged President Obama is not planning to send any serving member of his administration to her funeral. Whitehall sources have revealed that the U.S. delegation at tomorrow’s service in St Paul’s Cathedral will be led by two Reagan era secretaries of state: James Baker and George Shultz. Though President Obama himself had not been expected to attend, there had been speculation that he would be represented either by Vice President Joe Biden or wife Michelle. The Queen’s decision to attend
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Obama´s Official Snub Of Thatcher Funeral Shows How Small He Is
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Investor´s Business Daily, by Editorial
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Posted By: Desert Fox- 4/16/2013 7:06:13 PM
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Protocol: President Obama declined to send a high-level delegation to Wednesday´s funeral of Britain´s Margaret Thatcher. It´s a measure of how little he values the special relationship — and a sign of his own smallness. Back in more gracious times, vice presidents routinely attended funerals of foreign dignitaries. As such, the presence of Vice President Joe Biden — if not Obama himself — would seem fitting for as significant a U.S. ally as the late Prime Minister Thatcher, if not out of warmth of feeling, then simply to represent the U.S.´ gratitude. Thatcher´s uncompromising friendship
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Feds seek suspects, motive in Boston bombings
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Associated Press, by Jimmy Golen
Original Article
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Posted By: Desert Fox- 4/16/2013 6:53:44 AM
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BOSTON -- The bombs that blew up seconds apart at the finish line of one of the world´s most storied races left the streets spattered with blood and glass, three dead, including an 8-year-old boy, more than 140 wounded and gaping questions of who chose to attack at the Boston Marathon and why. Federal investigators said no one had claimed responsibility for the bombings one of the city´s most famous civic holidays, Patriots Day. But the blasts among the throngs of spectators raised fears of a terrorist attack. President Barack Obama was careful not to use the
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Obama angrily denounces gun-rights groups as willful liars
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Washington Times, by Dave Boyer
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Posted By: Desert Fox- 4/17/2013 6:37:42 PM
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President Obama angrily blamed the defeat Wednesday of his centerpiece gun-control proposal on lies spread by the National Rifle Association, calling it “a pretty shameful day for Washington.” “The gun lobby and its allies willfully lied about the bill,” Mr. Obama said in the White House rose garden about 90 minutes after the vote. “It came down to politics.” As he spoke, Mr. Obama was surrounded by family members of victims of the Newtown, Conn., school shooting. Also with him was former Rep. Gabby Giffords of Arizona, wounded in an assassination attempt.
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Lawyer, judge erupt in anger in Gosnell trial
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Philadelphia Inquirer, by Joseph A. Slobodzian
Original Article
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Posted By: LComStaff- 4/16/2013 7:02:04 AM
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He is known only as "Baby Boy B," a fetus estimated to be 28 weeks old, found frozen in an altered one-gallon plastic water jug in Dr. Kermit Gosnell´s West Philadelphia abortion clinic. His passing went unnoticed and undocumented, but on Monday, prosecution and defense lawyers struggled to get Philadelphia´s chief medical examiner to say whether he was stillborn or killed by Gosnell after being born alive during an abortion.
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Obama: ‘People shouldn’t jump to conclusions’ about Boston Marathon bombing
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Washington Examiner, by Joel Gehrke
Original Article
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Posted By: KarenJ1- 4/15/2013 9:45:50 PM
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President Obama pledged that the United States would punish anyone responsible for the explosions at the Boston Marathon today, but he said that “people shouldn’t jump to conclusions” about the tragedy. “We still do not know who did this or why and people shouldn’t jump to conclusions before they have all the facts,” Obama told reporters during a statement from the White House. “Any responsible individuals, any responsible groups, will feel the full weight of justice,” he added. Two explosions occurred today near the finish line of the Boston Marathon,
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Boston Marathon bombings present new test for Obama
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Washington Examiner, by Brian Hughes
Original Article
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Posted By: Pluperfect- 4/17/2013 6:01:37 AM
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Authorities on Tuesday revealed little new information about the terrorist attack at the Boston Marathon, the most high-profile bombing on U.S. soil in more than a decade and a tragedy that presents a new test for President Obama. Obama, like all Americans, is standing by, waiting for answers as to who planted two bombs improvised from pressure cookers at the finish line of the storied race, and why. Three Americans were killed in Monday´s attack and more than 170 others were injured. "Anytime bombs are used to target innocent civilians, it is an act of terror," Obama said,
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Senate rejects background checks on gun purchases in 54-46 vote
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Hill [Washington,DC], by Alexander Bolton
Original Article
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Posted By: BuckeyeRon- 4/17/2013 4:41:19 PM
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The Senate delivered a devastating blow to President Obama’s agenda to regulate guns Wednesday by defeating a bipartisan proposal to expand background checks. It failed by a vote of 54 to 46, with 5 Democrats voting against it. Only 4 Republicans supported it. Democratic Sens. Mark Pryor (Ark.), Max Baucus (Mont.), Heidi Heitkamp (N.D.), Mark Begich (Alaska) and Senate Majority Leader Harry Reid (Nev.) voted against it. Reid supported the measure but voted against it to preserve his ability to bring the measure up again. GOP Sens. John McCain (Ariz.), Susan Collins (Maine), Pat Toomey (Pa.) and Mark Kirk
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MSNBC’s Joy Reid Praises Obama’s Reaction To Terror, Says Bush Dis- appeared for ‘Couple Weeks’ After 9/11
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Mediaite, by Noah Rothman
Original Article
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Posted By: NorthernDog- 4/16/2013 3:38:34 PM
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MSNBC contributor Joy-Ann Reid told the host of Now, Alex Wagner, that she thought President Barack Obama’s response to the attack on the Boston Marathon on Monday was powerful and comforting in a way that President George W. Bush’s response to the attacks of September 11, 2001, was not. She accused Bush of being unavailable to the American people for the “first couple weeks” after the attack on the World Trade Center and the Pentagon. Reid told Wagner that the president’s statement actively combatted the intention of the terrorists, which is to make their targets feel “discombobulated.” “Having, sort of
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CNN: Pressure Cooker Bomb ´Right Wing´ Signature
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Breitbart´s Big Journalism, by Lee Stranahan
Original Article
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Posted By: Fiesta del sol- 4/17/2013 8:56:39 AM
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An article published on CNN´s website makes an unproven claim that pressure cooker bombs like the ones used at the Boston Marathon terror attack are a ´signature´ of ´right-wing extremists.´ The article was co-written by Jennifer Roland and Peter Bergen. Bergen is the CNN ananlyst made the claim that right-wing extremists could be behind the bombing less than two hours after it took place. The article says (emphasis added) :A senior U.S. counterterrorism investigator told CNN that pressure cooker bombs have also been a signature of extreme right-wing individuals in the
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Let’s hope the Boston Marathon bomber is a white American
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SALON, by David Sirota
Original Article
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Posted By: STLstudent- 4/17/2013 7:38:32 AM
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As we now move into the official Political Aftermath period of the Boston bombing — the period that will determine the long-term legislative fallout of the atrocity — the dynamics of privilege will undoubtedly influence the nation’s collective reaction to the attacks. That’s because privilege tends to determine: 1) which groups are — and are not — collectively denigrated or targeted for the unlawful actions of individuals; and 2) how big and politically game-changing the overall reaction ends up being.
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Mark Kelly threatens to back challenger to Flake over gun votes
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The Hill [DC], by Daniel Strauss
Original Article
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Posted By: StormCnter- 4/16/2013 4:33:26 PM
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Mark Kelly, the husband of former Rep. Gabrielle Giffords (D-Ariz.), is threatening to back an election challenge against Sen. Jeff Flake if the Arizona Republican votes against legislation to expand background checks. At a Christian Science Monitor breakfast on Tuesday, Kelly said he would back an opponent to Flake if the "right candidate" was available and if the senator failed to support a background check bill, according to reports. Flake, who is not up for reelection until 2018, has been close to Kelly and Giffords. But Kelly said the issue of control trumped their ties.
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