|
|
| |
Topic: The Trillion-Dollar Platinum Coin |
The Trillion-Dollar Platinum Coin
Commentary, by John Steele Gordon
|
|
Original Article
|
|
Posted By:pineledger, 1/10/2013 6:57:06 AM
|
| 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.
|
Comments: So the trillion dollar coin would be "on paper" only.
Same old same old.
|
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!
|
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.....
|
| |
|
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.
|
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.
|
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.
|
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."
|
Reply 7 - Posted by:
Hoosier, 1/10/2013 8:31:53 AM (No. 9108507)
I´m hoping to find one in the sofa.
|
| |
|
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?
|
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!
|
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.
|
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).
|
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.
|
| |
|
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.
|
Below, you will find ...
Most Recent Articles posted by "pineledger"
and
Most Active Articles (last 48 hours)
|
Most Recent Articles posted by "pineledger"
|
Some Banks Halt Foreclosures, Citing Regulator´s Bulletin
|
|
Wall Street Journal, by Nick Timiraos
Original Article
|
|
Posted By: pineledger- 5/18/2013 4:22:58 AM
Post Reply
|
|
Some of the nation´s largest banks, including Wells Fargo [WFC +1.58%] & Co., suspended foreclosure sales in a number of states following guidance issued last month by federal banking regulators. While some foreclosures have since resumed, the halt marks the latest dustup over how foreclosures are handled. Banks said their actions were triggered by a four-page bulletin issued last month by the Office of the Comptroller of the Currency and the Federal Reserve. The bulletin outlined basic operating standards for foreclosure sales. Many of the nation´s largest banks were already operating under consent orders with the OCC or the Fed
|
Review: ´The Center Holds: Obama and His Enemies´ by Jonathan Alter
|
|
Publishers Weekly, by Staff
Original Article
|
|
Posted By: pineledger- 5/14/2013 2:42:13 PM
Post Reply
|
|
Common-sense politics devolve into a season of craziness in this engrossing account of the 2012 U.S. presidential campaign. Journalist Alter follows up his bestselling The Promise: President Obama, Year One with a savvy dissection of the 2010–2012 election cycle and related political dogfights, including budget and debt-ceiling showdowns, the Republican primary circus, and the “Obama Derangement Syndrome” infecting Tea Partiers and talk-radio hosts. At the center are rich portraits of the antagonists: Obama is seen as a cerebral antipolitician with no “schmooze gene” who hates back-slapping, slogan-spewing theatrics; Romney is portrayed as a well-meaning
|
A Triumph on the Page, The Great Gatsby Founders Miserably on the Silver Screen
|
|
New York Observer, by Rex Reed
Original Article
|
|
Posted By: pineledger- 5/12/2013 6:30:57 AM
Post Reply
|
|
Let’s face it. The Great Gatsby never has been—and probably won’t ever be—successfully turned into a great motion picture. Many have tried (four flop movies, not to mention various small-screen attempts, including a truncated but memorable Playhouse 90 with Robert Ryan and Jeanne Crain in the golden days when TV still knew what quality programming was). Robert Redford was a perfect Gatsby in the pretty but boring 1974 version by Jack Clayton, but the movie was dead on arrival. The best I’ve seen is still Elliott Nugent’s black-and-white 1949 version, with Alan Ladd at the top of his form
|
| |
|
Billion dollar bet on rate cut pays off
|
|
Sydney Morning Herald (Australia), by Mark Hawthorne
Original Article
|
|
Posted By: pineledger- 5/8/2013 6:51:06 AM
Post Reply
|
|
It may go down as one of the great currency bets in Australian dollar history – a $US1 billion gamble on a Reserve Bank rate cut that has delivered a $US19 million ($18.65m) profit in 36 hours. The beneficiary, if you believe the rumour mill, is investment legend George Soros. Best of all, it appears the 82-year-old American pulled off the deal three times, all with different foreign exchange brokers in Asia, for a tidy profit of almost $US60 million. (Snip)Back in 1992, based on British government policy changes, Soros famously shorted the British pound,
|
German euro founder calls for ´catastrophic´ currency to be broken up
|
|
Telegraph (UK), by Ambrose Evans-Pritchard
Original Article
|
|
Posted By: pineledger- 5/6/2013 6:25:19 AM
Post Reply
|
|
Oskar Lafontaine, the German finance minister who launched the euro, has called for a break-up of the single currency to let southern Europe recover, warning that the current course is "leading to disaster". "The economic situation is worsening from month to month, and unemployment has reached a level that puts democratic structures ever more in doubt," he said. "The Germans have not yet realised that southern Europe, including France, will be forced by their current misery to fight back against German hegemony sooner or later," he said,
|
Obama To Grads: Reject Voices That Warn About Government Tyranny
|
|
Real Clear Politics, by Staff
Original Article
|
|
Posted By: pineledger- 5/6/2013 6:16:27 AM
Post Reply
|
|
U.S. President Barack Obama gives the commencement address to the graduating class of The Ohio State University at Ohio Stadium on May 5, 2013 in Columbus, Ohio. PRESIDENT OBAMA: Unfortunately, you´ve grown up hearing voices that incessantly warn of government as nothing more than some separate, sinister entity that´s at the root of all our problems. Some of these same voices also do their best to gum up the works. They´ll warn that tyranny always lurking just around the corner. You should reject these voices.
|
What´s Ahead for Obama´s Nominee to Oversee Fannie and Freddie
|
|
Bloomberg Businessweek, by Karen Wiese
Original Article
|
|
Posted By: pineledger- 5/4/2013 8:16:04 AM
Post Reply
|
|
After months of weighing potential candidates, President Obama finally has his pick for the director of the Federal Housing Finance Agency, which oversees the housing giants Fannie Mae and Freddie Mac. Obama wants to tap Representative Mel Watt, a Democrat from North Carolina. Confirmation is far from a sure thing. Watt’s nomination has been met with cheers by many groups that work with borrowers, from the National Community Reinvestment Coalition to MoveOn.org, though some liberals say he’s too close with banks, which are a big part of North Carolina’s economy.
|
Most Active Articles (last 48 hours)
|
Analyze this
|
|
Power Line, by Scott Johnson
Original Article
|
|
Posted By: MissMolly- 5/19/2013 11:33:33 AM
Post Reply
|
|
What did President Obama do on the evening of 9/11/12 when our men were under attack in Benghazi? The invaluable Andrew McCarthy reminds us that Obama and Secretary Clinton had a 10:00 p.m. phone call of which many (including, I think, Chris Wallace) have lost sight. This morning when Wallace asked Obama aide Dan Pfeiffer what Obama was up to that evening, Pfeiffer declared the line of inquiry “offensive.” Translation: Obama and his minions would prefer to “move on” and are warning the likes of FNC off:(Snip for video)The Weekly Standard’s Daniel Halper has posted the rush transcript
|
| |
|
Obama: "As An African American You Have To Work Twice As Hard As Anyone Else If You Want To Get By"
|
|
Real Clear Politics, by Staff
Original Article
|
|
Posted By: Desert Fox- 5/19/2013 6:55:47 PM
Post Reply
|
|
PRESIDENT OBAMA: You are the mantle of Frederick Douglass and Booker T. Washington and Ralph Bunche and Langston Hughes and George Washington Carver and Ralph Abernathy and Thurgood Marshall and, yes, Dr. Martin Luther King Jr. These men were many things to many people and they knew full well the role that racism played in their life. But when it came to their own accomplishments and sense of purpose, they had no time for excuses. Every one of you has a grandma or an uncle or a parent whose told you at some point in life
|
White House Chief of Staff knew about damaging IRS audit, kept Obama in the dark
|
|
New York Post, by S.A. MILLER
Original Article
|
|
Posted By: FlyRight- 5/20/2013 4:15:03 PM
Post Reply
|
|
WASHINGTON – The Internal Revenue Serviced scandal today spread further within the White House and closer to President Obama. White House spokesman Jay Carney today disclosed that Obama’s chief of staff, Dennis McDonough, and other top White House officials had advance warning that the IRS was targeting conservative groups. But he insisted McDonough and the other White House officials purposely kept Obama out of the loop.McDonough “rightly chose not to take action” to inform Obama, Carney told reporters at the daily White House briefing.
|
BREAKING: WashPost Reports Obama DOJ Also Spied on James Rosen of Fox News
|
|
Newsbusters, by Tim Graham
Original Article
|
|
Posted By: drive- 5/20/2013 7:29:20 AM
Post Reply
|
|
The Washington Post on Monday reported that Obama’s Department of Justice was investigating journalists before they started wiretapping the Associated Press – for one, Fox News correspondent James Rosen in 2010. Their headline wasn´t "Obama Team Also Spied on Fox News." Fox wasn´t in the headline, on A-1 or on A-12, where the story continued. Newly obtained court documents “reveal how deeply investigators explored the private communications of a working journalist — and raise the question of how often journalists have been investigated as closely as Rosen was in 2010.” Reporter Ann Marimow began:
|
Candy Crowley: Is it Possible This Isn´t Political and IRS Didn´t Intend to Harass the Tea Party?
|
|
Newsbusters, by Noel Sheppard
Original Article
|
|
Posted By: JoniTx- 5/19/2013 3:54:02 PM
Post Reply
|
|
"Can you see in your mind´s eye a way that this might not have been political, that this was a misguided stupid way to sort, but that they didn´t intend it to be some kind of political attempt to harass the Tea Party?" So actually asked CNN´s Candy Crowley of her guest Sen. Rand Paul (R-Ky.) concerning the Internal Revenue Service scandal Sunday (video follows with transcript and commentary):CANDY CROWLEY, HOST: Moving on to the IRS problem at this moment, which is really sort of in its infancy. There will be lots more hearings coming up this week
|
White House Aide calls Criticism of Obama ´Offensive´
|
|
New York Times, by Brian Knowlton
Original Article
|
|
Posted By: FlyRight- 5/20/2013 7:01:33 AM
Post Reply
|
|
A senior adviser to President Obama mounted a combative defense of the administration on Sunday, saying the controversies enveloping the White House were the result of Republican lawmakers’ trying to “drag Washington into a swamp of partisan fishing expeditions, trumped-up hearings and false allegations.”The remarks came from Dan Pfeiffer, a member of the president’s inner circle, as he appeared on all five major Sunday morning talk shows in an effort to move the administration past what commentators have described as a “hell week” of controversy and missteps.
|
If Your Doctor Asks You About Guns, Do You Have to Answer?
|
|
Fox News, by Staff
Original Article
|
|
Posted By: KarenJ1- 5/20/2013 1:12:07 PM
Post Reply
|
|
Stuart Varney said this morning on "Varney & Co." that one of his producers was given a questionnaire with some surprisingly intrusive questions on it when he switched doctors. One of the questions was whether he/she was concerned about unsecured weapons in the home. Another asked whether he/she was "in a relationship in which you have been physically hurt or are you afraid of your partner?" Judge Andrew Napolitano explained that the question about guns comes out of a post-Sandy Hook executive order by President Obama, but it will be required under Obamacare. Varney expressed amazement
|
| | |
|
|