There’s a loophole in the law that prescribes the types of coins that can legally be minted in the US, and it would allow the Treasury Department to mint a $1 trillion platinum coin, deposit it at the Federal Reserve, and then continue paying its bills as normal. This simple solution would let Congress sidestep what Rep. Bill Foster of Illinois told Insider was a “silly rule that we make up for ourselves,” which requires Congress to vote on raising the debt ceiling every time the US reaches the borrowing limit.
It’s an idea New York Rep. Jerry Nadler has long promoted. Speaker of the House Nancy Pelosi told reporters on Tuesday that Nadler raised the possibility of minting the coin in a meeting with Democrats to bypass the partisan fights on raising the debt limit. In 2013, when Republicans were refusing to raise the limit under President Barack Obama, Nadler told Insider that he was disappointed the Obama administration would rule out “one of the very few bargaining chips it has,” referring to minting the coin.
.Oh, yeah, now I remember:
I’m sure it will turn out different this time. After all, this is just a few coins distributed only to the Federal Reserve. That makes it totally different, right?
It would be more honest if they made the coins out of lead. But honesty is not their strong suit.
These people can’t be so ignorant and/or stupid so as to believe this is anything other than a means to destroying the nation. This must be a deliberate plan of destruction.
I hope they enjoy their trials.
It does not matter. They are going to do what they do and we’re going to be excluded and told in ever increasing harsh terms to shut up and do as they say.
“I hope they enjoy their trials.”
Do you really think it will go that far? Or, possibly more realistically, that once the path from”now” to “then” is being trod, it will be allowed to go that far? (I also do not rule out “successful escape to wherever” as an equally probably outcome, with “wherever” defined as anything from “someplace else” to “quietly among us.” Americans do not do “vindictive retribution” all that well, we seem to lose interest rather quickly because of the usual and persistant clamor about how “bad and unseemly” it is, TV-trope Old West cattle rustling lynchings a notable exception.).
Inflation benefits the inflator. And is a stealth tax. And Keynesian economics was invented for this very thing.
Put $100,000.00 in the bank. At 3% inflation, over a 30 year working lifespan. You got $10,000.00 left.
Know who owns the federal reserve? Neither do I. But It ain’t the government. It’s private. And were not allowed to know who controls, “our” money system.
Inflation is a redistribution of wealth and power. It’s how they steal the value out of your goods and labor. Which in reality is the only value to be had.
That’s why every dictator tyrant in the world uses it to their own benefit.
Welcome to the third world. Only difference is we have flush toilets. For now.
Got one of those notes. No one will make change.
This is true. I had five. I wound up giving them as gifts to my friend and my brothers, the exchange rate was terrible; They lost value between the day I bought them and the date I tried to exchange them.
Too many people in government, particularly the Democrat party members (as opposed to the mere voters) think it would be fun to have us use wheelbarrows to carry the money to buy a loaf of bread, and a quart of milk.
Not this time. It’s all going to be on your electronic tag. Or government leash, if you will.
Smart people who can do math go into STEM fields…..science, technology etc.
The stupider ones who failed math go into the “sociologic” fields….like political “science” (sic). This is why our economy looks like it does. The people who seek and hold power almost inevitably were shitty at math in school. And the handful that CAN do math don’t care…..their schemes allow them to acquire great wealth and power. It’s a system guaranteed to fail, eventually. But till it does the damage done can be quite spectacular.
‘Do you really think it will go that far? Or, possibly more realistically, that once the path from”now” to “then” is being trod, it will be allowed to go that far?’
Canada is full of descendants of Loyalists who moved there after the revolution, rather than risk what _might_ happen.
When Blue America gets pissed off, they burn their own neighborhoods.
Real Americans aren’t that stupid.
When Real America gets pissed off; you get the fire bombing of Dresden, you get Hiroshima and Nagasaki.
Look how terrified the .gov was after a mere 5 hours of mild misbehaving on 6 Jan. They KNOW how evil they’ve been. They KNOW what they damn well deserve.
google “Quote of the day—Larry Correia” on this very blog for some insight.