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Monday’s Colbert Report was the first mention of the trillion dollar coin I had heard except for another comedy site online, I think it is a great idea.
The idea has been around for about a week (read Prof Krugman). Congress passed a law on the legal denominations of gold, silver, copper, and whatever they make normal coins out of these days, but the law allows for commemorative platinum coins in any denomination, and ‘any’ includes trillions and/or quadrillions and/or googles and googleplexes. It’s a legal trick to circumvent that legal contradiction, the debt ceiling, where Congress passes one law that orders the government to spend money, and a contradictory law that says the government cannot spend that money.
It IS a great idea. If not to deal with the deficit, to teach the hate-filled right-wing extremists of the Republican party that their job is to GOVERN and not just to sit there and obstruct.
Actually that is not true. The platinum exception was put into law to help coin-collectors. Platinum coins where only available in $100 increments, that one provision in USC title 31, subtitle 4, paragraph 5112(k) enables the production of – say – $30 coins. At that time nobody thought of the consequences, and the congressman who put in this provision – Mike Castle, a Republican funded by “Big Coin” – is shocked and appalled about this loophole. Serves the GOP well!
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BTW: platinum was around when the Mayas ruled and was first described in 1557. Read a little, it helps…
It was about a week ago I read about the idea for a trillion dollar platinum coin. I thought it was on te Daryl Cagle blog, but I have been unable to access that website to check it out.
My apologies. The thing with how the coin idea came about – you are forgiven, it’s complicated. Not verifying the year platinum was around – not so much.
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I hate people who state something they haven’t checked. I have even more disgust for people who then write “…and that’s a FACT!!!…”. Since you didn’t do that you should have been given one level down on harshness. But still, your reply, I don’t know, didn’t you hear that Glenn Beck is gone from mainstream-TV and therefor the Hitler-stuff is seen as a bit overboard? Ever heard of “Godwin’s Law”?
According to veteran Ohio cartoonist Stahler, the most satisfying part of his job is "those days when I can load my ink cannon with fodder faster than I can fire it."
Small World by Tom Briscoe
Scott Stantis by Scott Stantis
Comments (16) (Please sign in to comment)
Radish
said, 5 months ago
Rockngolfer said, 5 months ago
Monday’s Colbert Report was the first mention of the trillion dollar coin I had heard except for another comedy site online,
I think it is a great idea.
jonesb said, 5 months ago
It is a great idea to let the rest of the world know this country is being run by escapees from an insane asylum.
mikefive said, 5 months ago
Although the “inside the beltway” crowd often comes up with idiocy,…..
Michael wme said, 5 months ago
@Rockngolfer
The idea has been around for about a week (read Prof Krugman). Congress passed a law on the legal denominations of gold, silver, copper, and whatever they make normal coins out of these days, but the law allows for commemorative platinum coins in any denomination, and ‘any’ includes trillions and/or quadrillions and/or googles and googleplexes. It’s a legal trick to circumvent that legal contradiction, the debt ceiling, where Congress passes one law that orders the government to spend money, and a contradictory law that says the government cannot spend that money.
Chillbilly
said, 5 months ago
It IS a great idea. If not to deal with the deficit, to teach the hate-filled right-wing extremists of the Republican party that their job is to GOVERN and not just to sit there and obstruct.
ODon said, 5 months ago
Should Obama opt to have the coin minted the right will scream and demand hearings of impeachment, all while breathing a sigh of relief.
MortyForTyrant said, 5 months ago
@Radish
Great image! And the fact that the note has a long serial-number is the cherry on top…
MortyForTyrant said, 5 months ago
@Mr. King
Actually that is not true. The platinum exception was put into law to help coin-collectors. Platinum coins where only available in $100 increments, that one provision in USC title 31, subtitle 4, paragraph 5112(k) enables the production of – say – $30 coins. At that time nobody thought of the consequences, and the congressman who put in this provision – Mike Castle, a Republican funded by “Big Coin” – is shocked and appalled about this loophole. Serves the GOP well!
-
BTW: platinum was around when the Mayas ruled and was first described in 1557. Read a little, it helps…
MortyForTyrant said, 5 months ago
@MortyForTyrant
One more thing: how many darn regulations are in the USC? And then there is case-law! No wonder your country is crawling with lawyers :-)
Rockngolfer said, 5 months ago
@Michael wme
It was about a week ago I read about the idea for a trillion dollar platinum coin. I thought it was on te Daryl Cagle blog, but I have been unable to access that website to check it out.
Rockngolfer said, 5 months ago
@Orthodox Catholic
It makes as much sense as CONgress voting to spend money, then refusing to pay the money, then blaming the President.
Mhic Dhu Ghaill
said, 5 months ago
@Orthodox Catholic
You sound like good little card carrying Democrat
Radish
said, 5 months ago
He should let her keep the change as a tip.
MortyForTyrant said, 5 months ago
@Mr. King
My apologies. The thing with how the coin idea came about – you are forgiven, it’s complicated. Not verifying the year platinum was around – not so much.
-
I hate people who state something they haven’t checked. I have even more disgust for people who then write “…and that’s a FACT!!!…”. Since you didn’t do that you should have been given one level down on harshness. But still, your reply, I don’t know, didn’t you hear that Glenn Beck is gone from mainstream-TV and therefor the Hitler-stuff is seen as a bit overboard? Ever heard of “Godwin’s Law”?