Making the Rounds

The “trillion-dollar” coin proposal hit big in the last few months, even garnering a smile, a wink, and a nod from Paul Krugman. The idea was for the government to mint a high face-value platinum hunk of token money and sell it to the Federal Reserve — to weasel around congressional approval for raising the debt limit.

Something very much like it was floated by Populist and inflationist Bo Gritz back in the early ’90s, when he was running for the presidency.

Though the current president has dismissed the notion, people like it so much — perhaps because of its “just so goofy it might work” aspect — that the whole meme is still making the rounds.

As a technical matter, a one trillion dollar coin would probably be too unwieldy. If actually given the go-ahead, the Treasury and the U.S. Mint would likely opt for smaller amounts, cranking out a batch of them — a big batch, to cover the federal government’s rising debt.

My modest proposal? Mint coins at the legal tender amount of $666 million each.

The effigy of Liberty could sport a 666 tattoo on her forehead, and a neat UPC symbol on her wrist, which she could hold up instead of a torch.

That would indicate, by commonly understood symbology, just how dangerous America’s debt really is, and how anti-American the whole idea of the high face-value coinage debt ceiling workaround would be.

Another way to go would be to carve each coin out of coprolite. Another fitting symbol for the last days of our fiat currency.

This is Common Sense. I’m Paul Jacob.

5 Comments so far ↓

  1. Jan
    18
    10:41
    AM
    Brian Richard Allen

    …. Liberty would sport a 666 tattoo on her forehead to indicate, by commonly understood symbology, just how dangerous America’s debt really is ….

    With or without the platinum tokens, they fact the traitor, Bernanke’s, Fed Gang is already insidiously “monetizing” the debt (IE, counterfeiting) is surely already just about as evil as it gets?!!

  2. Jan
    18
    11:59
    AM
    Jay

    And while the debt increases, Obama sees to it that Congress and Biden get raises; spends millions on his vacations, while demonizing people who actually create wealth.

    And, ALL SPECIAL INTERESTS–including so-called conservatives, while calling for spending cuts–seek to protect their special interests/

    Few thoughts:

    Why are we giving millions (if not billions) to Eqypt? They certainly aren’t our friends; the same is true of Libya, and most of the Arab/Muslim world.

    Why IS flood insurance, aka a welfare for the wealthy subsidized? if people want to own pproperty in a flood zone, let private insurance firms write it–and charge market rates.

    NPR & NPT and NEA are the same.

    But, the special interests want the status quo, for themselves, and the hell with everyone else.

    My 5 cents an rant for the day

  3. Jan
    18
    2:18
    PM
    Clay S. Conrad

    This buys into the myth that America is a Christian nation, Paul. It is not. And I don’t think Deists have a “mark of the beast.”

  4. Jan
    18
    5:02
    PM
    Paulina West

    “Another way to go would be to carve each coin out of coprolite. Another fitting symbol for the last days of our fiat currency.”

    Let’s send Congress and the WH a fresh shi’ment right now!

  5. Jan
    18
    6:02
    PM
    Kenneth H. Fleischer

    Why not accuse the Republicans of coprophagy — and the Democrats of being their suppliers? That seems to be the way of Congress, lately.

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