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Wed Jan 9, 2013, 11:07 PM

Today We Saw A Major Turning Point For The Movement To Mint A Trillion Dollar Platinum Coin

There's no question: Today was a major game-changer for the movement to circumvent the debt ceiling by minting a platinum coin, a strategy that would take advantage of an arcane area of the law relating to coinage.

Today White House press secretary Jay Carney was asked about whether The White House saw the coin as a viable option, and rather than shooting it down he just evaded the question.

The response from the media has been unanimous: Carney left the door open.



Read more: http://www.businessinsider.com/mint-the-coin-today-we-saw-a-major-game-changer-for-the-movement-to-mint-a-platinum-coin-2013-1

It avoids the debt ceiling, but sequestration would still take effect. OTOH, most organizations I've been in can take a 10% cut and only lose a couple percent of output.

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Response to MADem (Reply #1)

Wed Jan 9, 2013, 11:12 PM

2. I kind of thought the obverse should have a lame duck with a busted wing...

But your pentagon works too.

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Response to Hekate (Reply #2)

Wed Jan 9, 2013, 11:26 PM

4. Well, that's where the money went, much of it! nt

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Response to MADem (Reply #1)

Wed Jan 9, 2013, 11:23 PM

3. In honor of the guy who tripled the deficit and pushed us toward the 3 trillion debt mark....


http://mises.org/freemarket_detail.aspx?control=488

<snip>
The result has been unprecedented government debt. Reagan has tripled the Gross Federal Debt, from $900 billion to $2.7 trillion. Ford and Carter in their combined terms could only double it. It took 31 years to accomplish the first postwar debt tripling, yet Reagan did it in eight.


Well, better there than on Rushmore.

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Response to Tigress DEM (Reply #3)

Wed Jan 9, 2013, 11:27 PM

6. It shuts up the people who want to put him on the dollar, and take George off it!

And WAY better there (out of sight and mind) than Rushmore!

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Response to Tigress DEM (Reply #3)

Wed Jan 9, 2013, 11:56 PM

11. I love it!

Make it a Reagan coin and shove in their faces.

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Response to MADem (Reply #1)

Wed Jan 9, 2013, 11:27 PM

5. How about Dubya?

 

He's the one who fucked us the hardest!

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Response to Larrymoe Curlyshemp (Reply #5)

Wed Jan 9, 2013, 11:28 PM

7. No one's calling for him on a coin--they are calling for Reagan on US currency.

This would solve the problem and given Ronnie a platform--on a single coin~!

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Response to MADem (Reply #1)

Wed Jan 9, 2013, 11:35 PM

8. As a matter of practicality, they should strike them in $1 billion denomination

They could put Everett Dirksen on the obverse:

"A billion here, a billion there, pretty soon, you're talking real money."


http://en.wikipedia.org/wiki/Everett_Dirksen

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Response to FarCenter (Reply #8)

Wed Jan 9, 2013, 11:49 PM

10. Too nice a guy, through the long lens of history!

We're in this mess because of willy nilly spending and he was opposed to that. Though he wasn't shy about giving the Pentagon dough-re-mi during the Vietnam era...

He was a real conservative, and he was a supporter of Civil Rights. Those two POVs can't be held by a single individual nowadays...!

I suppose if they minted billion dollar coins, there would be rich farts who'd want to have one, just to demonstrate how rich they were...

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Response to MADem (Reply #1)

Thu Jan 10, 2013, 01:12 AM

13. I think "Reagan" in a

perverse kinda way. The r-insane-w would go ballistic about the minting but maybe not so much if their perennial hero was slapped on the front.

'Course, I can't really speak to what they'd do.

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Response to Cha (Reply #13)

Thu Jan 10, 2013, 01:58 AM

14. Well, the less good the person did, the higher the denomination.

Notice how the real lions -- Washington, Lincoln, Franklin--are on the cheap money! The fartier types are on the pricier bills! Grover Cleveland used to be on the thousand dollar bill, when they were out there, and Wilson's on the hundred grand (that only gets circulated between banks)!


http://en.wikipedia.org/wiki/Large_denominations_of_United_States_currency


It will help stop the "Put Reagan on the Dollar Bill" people...that's an AWFUL idea, IMO.

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Response to MADem (Reply #14)

Thu Jan 10, 2013, 02:04 AM

15. Well there ya go!

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Response to FarCenter (Original post)

Wed Jan 9, 2013, 11:39 PM

9. Most of the affected programs have already faced numerous cutbacks in the last several years.

They'll be cutting into muscle and bone.

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Response to pnwmom (Reply #9)

Thu Jan 10, 2013, 12:57 AM

12. My understanding

of sequestration is that the entitlement programs are all safeguarded. There was an OP yesterday, I believe, that listed the condistions. I'm on my phone so I can't seaarch right now but will try to link to it when I'm at my computer.

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Response to Control-Z (Reply #12)

Thu Jan 10, 2013, 02:05 AM

16. Which is precisely why the non-military programs that ARE hit will be hit very deeply. One example:

Last edited Thu Jan 10, 2013, 02:53 AM - Edit history (1)

the Department of Justice.

http://mediamatters.org/blog/2013/01/03/media-silent-on-potential-sequestration-effects/191997


U.S. Attorney General Eric Holder said Tuesday that if the Justice Department were faced with budget cuts due to sequestration, he believes that he would be able to maintain public safety by shifting resources and that the federal prison system could operate "for months" if necessary.

"I have the flexibility to move funds within the Department," Holder said.

However, nearly all civil cases would have to be put on hold, he added during an extended interview with National Public Radio reporter Nina Totenberg after giving an address at the John F. Kennedy Presidential Library in Boston.

If DOJ civil litigation is placed on the back burner, then so too is a large component of DOJ's efforts at compensating victims of the illegal mortgage practices of financial institutions before the recession. The DOJ has filed six lawsuits in response to past fraud and discrimination allegedly endemic among banks such as Wells Fargo, Citigroup, and Deutsche Bank, including a recently settled case against the Bank of America.

SNIP
___________________________________
Another example: Federal funds for education would be severely impacted

http://www.pbs.org/newshour/rundown/2012/12/how-will-the-fiscal-cliff-impact-education-funding.html

That means programs like Head Start, a child development and school readiness program for low-income families funded by the Department of Health and Human Services, would be hit especially hard. Sen. Harkin's report estimates Head Start would serve roughly 96,000 fewer children under sequestration, while another 80,000 would miss out on other childcare and development services.

SNIP

Cuts in federal funding would jeopardize services at schools that serve the neediest children. Federal funding for elementary and secondary education is directed primarily at low-income students as well as English language learners and those with special education needs.

"It in essence widens the gaps between the haves and have-nots," said Daniel A. Domenech, executive director of the American Association of School Administrators.

"The wealthy suburban communities that receive very little federal funding -- it's not going to have much impact on them."

But at urban school districts where a majority of the students are poor, a decline in federal funding, he said, "is going to be catastrophic..."


_________________________________
And then there are cuts to areas like the food safety regulation, nuclear regulation, etc.

http://www.washingtonpost.com/blogs/federal-eye/wp/2013/01/02/tax-deal-done-sequestration-delayed/

“These cuts will impact federal agencies and their ability to provide services to the American public including food and drug safety, border security, nuclear regulation, and much more,” said National Treasury Employees Union president Colleen M. Kelley in a statement Tuesday.

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Response to FarCenter (Original post)

Thu Jan 10, 2013, 02:41 AM

17. Yes, but will Vending Machines accept it?

One of my fantasies is to be able to buy a Reagan-Class Nuclear Aircraft Carrier out of a machine.

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