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A loophole in the law that prescribes the types of coins that can legally be minted in the US theoretically allows the Treasury Department to mint a $1 trillion platinum coin, deposit it at the Federal Reserve, and then continue paying its bills as normal.
The debt ceiling sets up a frustrating conundrum: Congress can pass budgets that direct the government to spend a fixed amount of money across its departments and programs, and sets tax rates at particular levels to fund some of it. The gap between Congressionally mandated spending and Congressionally mandated revenues then needs to be paid for by borrowing money.
(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.
Such a coin would weigh 42,778,918 pounds -- the equivalent of nearly seven Saturn V rockets -- and occupy 31,947 cubic feet.
What would this coin look like?
If it had the same proportions as the U.S. dollar coin, we calculated it would be roughly 80 feet wide and 6 feet thick. Though not a very practical coin, it would have the benefit of being really
difficult to steal. And you could see it from space.
. . . this hypothetical numismatic giant would occupy 31,947 cubic feet. In everyday terms, that’s the volume of about 239,000 gallons of milk!
U.S. Mint bullion coins are legal tender that carry face values reflecting their issue and monetized value. However, these face values do not reflect the coins’ intrinsic value, which is, of course, much greater. True value is mainly dictated by a coin’s troy weight and the current precious metal price.
. . . traditional system of weight in the British Isles based on the grain, pennyweight (24 grains), ounce (20 pennyweights), and pound (12 ounces). The troy grain, pennyweight, and ounce have been used since the Middle Ages to weigh gold, silver, and other precious metals and stones. The name supposedly derives from the city of Troyes in France, site of one of the major medieval fairs. The troy pound was adopted by the U.S. Mint for the regulation of coinage in 1828.
Just ask the Rothchilds or the Vatican. They bailed us out in 1871. They’ve been robbing us since. They have more than enough gold. But at a price of course. Tax the rich!!!!!
Just ask the Rothchilds or the Vatican. They bailed us out in 1871. They’ve been robbing us since. They have more than enough gold. But at a price of course. Tax the rich!!!!!
What the fuck are you talking about? Okay, I'll play. Can you tell us, with proof, how any church collects, and not pays, taxes?
I'd love to know. Unless it's another conspiracy theory.
WTF?
TJ's that crucial?
Here’s some homework for you. It’s a lengthy speech, but quite eloquent. Is JFK a conspiracy theorist? They did blow his head off. But Ike also warned us in 1961. I’ll let you do you’re own research.
Here’s some homework for you. It’s a lengthy speech, but quite eloquent. Is JFK a conspiracy theorist? They did blow his head off. But Ike also warned us in 1961. I’ll let you do you’re own research.
Not printing, but minting
