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Home » Politics » Trillion Dollar Baby

Trillion Dollar Baby

When I heard about the idea for a trillion dollar coin minted in platinum and presented to the federal reserve as some bizarre bargaining chip that would free us from a portion of the staggering 16 trillion dollar debt that looms over the head of every American, I was intrigued.  I thought to myself, “Hmmm, that seems logical.”

Then I realized that a trillion dollar coin that we mint purely for the purpose of paying off our own debt is a staggeringly stupid idea.

Sure, a coin with a bald eagle AND the statue of liberty on it is the most patriotic thing that I can think of, but is it very American to want to bail ourselves out with money that we don’t have using a coin that we made up purely for the purpose of bailing ourselves out of incomprehensible debt?

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Would the founding fathers have minted a multimillion dollar coin to handle over to the British so they could save them the cost of a war so they wouldn’t have to fight and neither would we?

No.  They would have done what they ultimately did- they sacked up and faced their problems head on without asking questions.  I understand the concept of a trillion dollar coin to raise the debt ceiling, but it’s such a coward’s way out.  Surely, there must be a better way to accomplish what we need to.

Let’s not blame Barack Obama or congress- sure, they share some of the blame, but it’s unfair to dump it all on them solely.  Let’s blame ourselves as a nation and see where we can go from here.

17 comments

  1. I saw some of these coins in Home Depot, They looked a lot like flat washers and just like the treasury they had a hole in them.

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  2. Just think how much better this nation would be if we paid off our debts. There was a time when politicians made sure our bills were paid. I understand that we are still paying on debts that we piled up in the Spanish American War? I suspect we owe for the Revolutionary War,too. I love my country but have little to no respect for most of the politicians. If the Yahoo’s in Washington were forced to abide by the rules there ramming down our throats then, things would be different. Guess that’s wishful thinking.Thanks for letting me have my 2-cents worth. God Bless America.SP

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  3. How about this idea We take all the World War II debts that are still owed to us by the Allied Nations, figure out the interest compounded since the end of the war and send the bill to the aforementioned countries? That should go somewhat toward reducing our own debt. And it will probably work just as well as the idiotic suggestion that somehow by paying ourselves we have reduced our own debt!

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    • How about eliminating the amount of money we are giving out to these nations that hate us anyway. In my house, if I cannot pay my own bills, I am smart enough to say, I cannot give out to neighbors until my house is in order. Why don’t we eliminate the thousands of government jobs that are available currently, we don’t we put government on the health care program they want to force on us. Why don’t we stop paying our taxes for frivolous spending of our government such as million dollar vacations, lifetime retirement programs for congress that would fund multiple families a year to retire, why don’t we curb our federal spending on anti-citizen programs like FEMA detainment camps, ammunition by the millions from FDA, IRS, NOAA (Fisheries Office), SSA Administration, TSA, and many other government offices. Combine these with the internment camps we are spending billions on billions to build and now employ people at.
      It doesn’t take a moron to figure out, our rights are not only being stripped, but as in every other country who has been forced to give up arms, we are in trouble as a people in this nation. Call me a conspiracy theorist which I used to call others until I was challenged to research for myself. I challenge all Americans to do the same.

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      • I agree, we have now so many government programs we will never see the light of day. An economic crash is only a matter of time, and this country has never faced a real disaster, and with the government the only ones with arms (along side the other criminals such as thieves,robbers, rapist, murderers, and other politicians), who can protect us from our own government. Just look at history, Cambodia, Guatemala, China, Ottoman Turkey, Germany Uganda, Soviet Union (all in the 1900′s) took the lives of over 50 million citizens. 50 million people. You think our government is different. Roll the dice. We already have laws allowing our government to detain us indefinitely without habeus corpus. Stand up now or forever lose what little we now have.

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      • When you have a spoiled brat, it’s time for a good hard spanking. The problem is we can’t reach these people. The closest we can get is their agents, who are armed to the teeth and that part is only getting more extreme.
        All of Federal is set up so monumentally well, it’s not even funny. This is the problem with centralized governments. They have a single point of defense for all of their operations. Every politician and high level bureaucrat is well guarded all the time. They choose to create whatever blanket public policy they want without even consulting or caring about the needs of the general populace. They do not fear us, as they have a safe hovel that they can attack from at any time.
        Hand in hand with that is a mentally obese citizenry that falls under the spell that the government is on their side every time a flag waves and a song plays. The people are mentally tied to and pacified by Federal, and therefore can’t envision life without it.

        I guess a lot more awareness is the key, before the awareness is an armored troop carrier pulling up to one’s driveway. The psychopathic badger must be drawn out from it’s lair before it can be subdued and eliminated. As long as people willingly follow a government intent on destroying them and everything they believe in, the badger holds the power.

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  4. I have been doing some research, and have found that 5% of the politicians know what is happening,90% have their sphincter muscle choking off oxygen to the brain, and the other 5% don’t even know what the sphincter muscle is!

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  5. Re a platinum trillion dollar coin. Such IS authorized by existing U.S. Code.

    31 USC § 5112 – Denominations, specifications, and design of coins
    (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.

    http://www.law.cornell.edu/uscode/text/31/5112

    Meaning, legally, the Secretary of the Treasury already has the authority to create such a coin, without further direction from the President or Congress. Just as the face value of current quarters exceeds the value of the metals, the face value of a platinum coin does not have to have any connection to the market price of platinum.

    History: To fund the civil war, Lincoln declined the high interest rates of the international bankers, and just printed extra currency. In Hepburn v. Griswold (1870), the Supreme Court found the acts creating the greenbacks to be unconstitutional.

    The Constitution grants Congress the power:

    To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;

    So while it can be argued that just printing money is Un-Consitutional, creating a trillion, or zillion dollar coin, is “ok”. THEN currency based on that coin being on deposit would be “ok”.
    Games, but a game better than continued borrowing.

    At the moment, it is the Federal Reserve Bank “running the printing press” creating money, which the Treasury / politicians then borrow. We would be better off (if that phrase can apply to the situation) if it was the Treasury creating the new money via a means such as a platinum coin.

    Consider an example, the Federal Reserve Bank (a private bank owned by who knows who, since they will not tell Congress) creates money, which the Treasury borrows, issuing a $1 million note to the “FED” (private bank). The politicians then spend the million of new “cash”.
    The FED trades the treasury note for real estate.

    When our federal politicians borrow new money into existence, there is TWICE as much inflation as there would be if they just created a coin and spent based on it.

    Trillion dollar coins, and money based on them, spent into the economy would be LESS inflationary than borrowing, and to the extent they are used to pay-off existing debt, would be DEFLATIONARY.

    The same debt double inflation takes place on the private level for the life of any outstanding loan amount. Say you borrow $100,000 to buy a house. The “cash” is paid to the owner. The bank bundles your loan with others and trades it as a commodity. Say you loan $10,000 to your brother in law who buys a used Harley. You have a signed note and a lien on the Harley. While you may not have as easy a time as the bank does, the $10,000 promissory note you hold is a tradable item.

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  6. Each and every man that accepts this debt also accepts that he owes an unlimited, lifetime’s worth of labor to pay off the undisclosed spending of a corporation that refuses to follow it’s own charter, or constitution.

    Because a man was born, he is debt enslaved for life to the corporation that killed off the previous indigenous peoples for its own profit.

    Because a man has a life and residence in an area marked on a map with fictional lines, he has ever increasing percentages taken from his labor value, which is automatically converted into debt notes which are perpetually de-valued and skimmed by strangers from a locked down district called Columbia.

    A man is required by law to contract his debts under non-coercive agreement, using terms agreeable by all parties, and agreed upon via witness or signature. Yet through government men have an undefinable debt with undisclosed terms forced upon them by unidentified strangers and corpus organizations with no possibility for dissolving, or even definition of the debt.

    The idea that sane men just “pay their debts” is a noble one, and under terms wherein a man knowingly, willingly and under his own free will enters into debt, that is quite reasonable.

    Under the situation of the “national debt” scam, where there is no fee schedule, no payout amount, and infinitely variable terms, the statement to “just pay your debt” is the blabbering of either the mentally compromised, or the continued coercement of the psychopathic bureaucrat.

    How can “Absolute Rights” exist when a labor debt is placed upon the masses in this manner? Where does the authority come from to indebt a nation of people? Since there is no end in sight, as every year the executive raises the debt limit to appease its true masters, then I must assume that any organization that supports the national debt, also supports the executive’s unbridled authority as debt master, and therefore supports the international banks that have set the whole scenario up 100 years ago to hoard as much of America’s wealth as possible without a revolution. How many trillions (hundreds) of dollars have left these shores, only to end up in a foreigner’s bank account. How many people have to suffer, stress, starve and languish in fear so some small group of old money bloodlines can roll in the money in their orgy of self indulgence?

    For those that see the paying of national debt as their patriotic duty, be prepared for many more “patriotic” duties to be imposed upon you. The second that the Federal government was able to violate the constitution in the least was the very moment that constitutional power was done for. That most likely occurred within the first month of its ratification. In today’s reality, the constitution is an archived document, stored in the national archives, to never again be held against Federal and Federal Reserve Banking powers over the people. It is trotted out when politically expedient and then quickly shoved back in its hole. This situation is allowed because the same populace that waves a flag, sings a song and pledges in blasphemy to Almighty God is the populace that pays off alien corporations and banks in exchange for a totalitarian system of laws and debt. No constitution could stand under these conditions.

    The author, and this site, should be ashamed for taking the side they have in this article. While the ‘trillion dollar coin’ is hardly an answer, as the true purpose of the debt is extracting labor value of living men, not money, the idea that we owe it to ourselves to keep this egregious and oppressive situation in play is telling of the just how absolute the rights this site claims to defend really goes.

    The time for glorifying ourselves will soon be at an end. In the meantime, that glorification can continue to be bought, but mind you, the price is going up, up, up…

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    • You are right about the author, and him needing to be ashamed. He is trying to contribute truth to the play acting that goes on in Washington D.C. He actually thinks that all the players are sincere, instead of playing a game, acting, to fool the American people.

      What we need to do is outlaw the Federal Reserve, and prosecute all of the perpetrators we can get our hands on, and make all of the others owners, personna non grata in the United States.

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  7. According to Ron Paul it is a fraudulent debt and just a paper debt of iIIegaI interest to be paid on money printed on our printing presses and then loaned to us by some Brits, so why not print 16 coins a trillion each and pay the debt? It isn’t real debt with a product we purchased anyway. Just pay the fake debt with 16 worthless coins, and we are all even. and then read: https://www.youtube.com/watch?v=ofnEGA5_82Q

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  8. The coins we have in circulation today range from 6% to 104% face value vs melt value. A 1 ton trillion dollar platinum coin would be a small fraction of 1% face vs melt. In other words a huge scam.

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    • That is your argument? So the 100 dollar bill must be worth 5-30 labor hours in paper value, according to your estimates. It has nothing to do with melt value, as none of the American coins is anything above tin in my book. It has to do with the value of labor versus the bank scam put forth in exchange for it.

      Paper value of the $1 bill: 5 cents. A huge scam. There goes your argument.

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  9. Blame liberals.

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    • It is the blame game that not only got us here, but keeps us here. There is always some nebulous corporate outlet to blame. If it’s not asses and elephants, its this bureaucrat or that politician.

      It is this way so nobody looks at the system. If people saw the system for what it was, the Declaration of Independence would actually mean something. Instead, it is a punch line for the finger pointers and the blame gamers.

      You can’t even define liberal, since there is no solid definition, any sooner than there is a solid definition of race, creed, orientation or anything else in this world. It is just too easy to lump sum an imaginary group into neat little disposable packets for the under the bridge troll critics to attack.

      If blame is your thing, start with self. Anything less is cowardice and delusion.

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  10. You are absolutely correct. We are a spoiled nation, with no concept of reality outside of this country. I am scared of what will happen in this country. I come from a family of veterans including myself, my wife, and was taught what freedom is and how hard it is to keep. Unfortunately we have so many people in this country who are to lazy to go outside their comfort zone of daily life to try to make a difference or support those who will.

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    • Why should they, when you are willing to do it? Consider the source of their thinking…TV, Newspaper and Radio. The populace is told that men and women willing to risk their lives will “handle it” for them.

      How else does the executive, the legislative and judiciary get away with what they do. None of those bought and paid for fossils actually have a stake in their decisions. If they did, the decisions would be dramatically different. Instead, they all flow their bullshat down river and could care a less if soldiers, citizens or life in general suffers and dies.

      If your oath is the the constitution, then you must, as an oathkeeper, claim any man, sect or organization that violates those principals in violation of the constitution and therefore a treasonous enemy of the united States of America.

      As hard as it is, as we all have been programed to the contrary; abandon the flag, the song, and the pledge. If these things are necessary for a free nation and a free people, they will be instilled again after the parasitic government is brought down. If they are durable then they will be endurable. In the meantime, we have a government of fakes that preach one thing, to get their public election, then act another way, to get their private enrichment.

      If there is an argument to the above definition of America, I would like to hear it. I am always willing to learn, and teach…

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