Will Trillion-Dollar Coins Fix the Debt Crisis?

The Congressional spenders and the President are thieves. They pass laws to take our money in the form of a progressive income tax and redistribute it to people who don’t lift a finger to earn it. They print money to dilute the value of our investment accounts. They implement debt-ridden programs in order to buy votes.

The latest scheme to get around what’s left of the idea that there is such a thing as “sound fiscal policy” is a proposal to mint trillion-dollar coins. Should Congress fail to extend the U.S. debt limit for the umpteenth time, the president could ask the Treasury to begin minting trillion dollar coins.

Like so much our government does, it’s a form of monetary sleight of hand. Here’s what is being seriously proposed:

“While there are laws in place to regulate how much paper, gold, silver or copper currency can be circulated by the government, there is nothing so clearly stated when it comes to platinum. That door open, the Treasury could have the U.S. Mint, melt, and mold a few trillion dollars of it, then ship the goods over to the Federal Reserve for safekeeping until the time comes to pay the bills.”

That last line made me laugh: “until the time comes to pay the bills.”

Why bother with this charade? Congress and the president could print the $16 trillion needed to eliminate the debt as well as the $222 trillion to pay for the projected unfunded liabilities that make up the politically protected Social Security and Medicare entitlement programs. There’s no one to stop them. The Federal Reserve has been creating money out of thin air for nearly a century. If it’s OK to debase our currency a little bit, certainly a much larger debasement will do wonders for our economy. Everybody wins. No more debt. No more unfounded mandates.

Where is the moral objection to be found? We gave up such pretenses of righteous indignation a long time ago. Why are we pretending that morality matters?

There was a time in America where most people believed there was a moral obligation to deal honestly with people in financial arrangements. “Sound money” was the operating phrase. Collateral was required for loans. Gold and silver were mandated for payment. Paper money was used to represent held reserves of gold and silver; it was never considered to be money.

Governments have manipulated money for millennia. Money is power. When governments control the money supply, they control you and me. As we see in every election, politicians buy votes with money. They get the money they need from taxes (progressive income tax), debt (kicking the can down the generational road), or inflation (stimulus spending). It’s not their money. They use the prosperity of workers as an ATM machine with a stolen PIN number.

The history of money manipulation can be seen by studying the coins we carry in our pockets. The way our coins were manufactured told us something about human nature: (1) humans are inherently corrupt and (2) steps need to be taken to limit human corruption.

Originally, gold coins had smooth edges; as a result, it wasn’t immediately noticeable if just a little gold was clipped from the edges using a sharp knife or a file. If this was done to several coins, the coin clipper would have enough raw gold to sell or trade while still holding onto his original coins. The same could be done with silver, although it’s a harder metal. This fraud describes inflation: adding fictional “value” to the money supply, thus diluting the value of the existing money. It’s like adding water to the soup while selling the diluted commodity at the original price. The customer is cheated.

To combat this fraud, the edges of coins were milled to have grooves cut into them. If you got a smooth-edged coin, you knew it had been clipped. Today, no one bothers with clipping government-issued coins since they are no longer made of gold and silver.

We’ve gotten long beyond coins and Federal Reserve Notes. We’re at the point of “Let it be written. . . Let it be done.” It’s a matter of adding zeroes to a spread sheet.

It’s not fraud since we elected these people to make us prosperous.


  • DAVID PEACOCK

    yes they will IF THEY CONTAIN A MILLION DOLLARS worth of solid asset based metal;; otherwise it is another liberal sham and more obama bull shi666t. My info says each coin will contain a dollars worth of gold or platinum ;; that my friends is called fraud and deception of the treasury.;;punishable by impeachment;; how many crimes has obamnuts committed that are impeachable?????100 or is it more now? he will never leave on his feet.

    • DontTreadOnMe11

      They could always sell the gold in Fort Knox......AHEM, cough, cough

      • DAVID PEACOCK

        right gag gag ;;trillions of paper is worth trillions of nothing. trillion dollar coins with one dollars worth of metal;; and these liberal dumbas666es know the low information voter is too stupid to get the shell game right.

      • piquesous

        The coffers of fort knox has been empty for some time now ....by 1972 the were all tranfered to the bank of london . Since october 2008 , it can be found at the abandoned HongKong airport in high security underground chambers . As of the reserves under the world trade center ....

        • DontTreadOnMe11

          Apparently you didn't understand thae "Ahem, cough, cough" part.

  • http://www.facebook.com/gregbeaty Greg T Beaty

    Unless they have a buyer for it the value is zero.

  • major

    The republicans havent figured it out yet, the Democrat socialists are openly ignoring our concerns and like the bully on the playground daring us to do something about it . Jawboning isnt doing something about it, its just hotair and the socialists humour it but dont stop doing what they are doing because they know chickens when they see them. This is the moment of truth on the playground and in life where you need to sock the bully in the nose to get his attention. The Republicans have yet to do that hence they are being buffalo'd. The Tea Partiers started to do it in 2010, see the results. But in 2012 they adopted the cowed stance of the RNC and also see the results.

  • QuisPercusit

    What the fiscal cliff realy needs is an audit of the Federal reserve to knock it down to size, ie a pimpple on a socialists ass

    • jktnyc

      I think you paulites need to learn some economics, the Fed and the fiscal cliff are not entirely related....the Fiscal cliff is due to government spending and the fed is printing money...auditing the Fed does nothing....

      • QuisPercusit

        If ther were no Federal reserve there woould be no Fiscal cliff cause the wouldn't by so much for the morons in washing to squander. Why does the chicken cross the road dude?

        • jktnyc

          Congress could just borrow more they do not need the Fed to do that....and by abdicating the responsibility for printing money to the Fed, if you cut the Fed Congress would just do what the Fed now does...the Fed is tangental to the fiscal cliff......

        • QuisPercusit

          Where does Congress get the money to pay back the lenders they borrow from? When all is said and done the Federal reserve is and has been since its inception the creator of all us Dollars, there are probably more counterfit $100 bills out side the USA worth more than all the Federal reserve notes recquisitioned by congress

        • jktnyc

          Again Congress does not need the Fed, they have the right to print their own money(read the constitution), but currently they just issue more Treasury Bills to pay off the debt that is maturing and make the interest payments. Auditing the Fed and blaming the deficit on the Fed is misguided, perhaps Congress, including the Pauls, should look in the mirror for the problem. Once again the Fed is a separate issue.....

  • Rosbo

    Great analogies. I believe it is fraud, because politicians aren't elected to make us prosperous, they're basically supposed to manage resources (monetary and intellectual) which keep the Declaration of Independence and Constitution, and their people's concerns for the survival and security of the nation. Unfortunately it's slowly being eroded, and the simple timeless principles which birthed this nation are no longer worthy, because its always about money and power. Of course when the currency is worthless it's a sign of the same principles of those overseeing it- worthless. The elitist mentality never sees themselves as affected, which is why class warfare creates envy and greed to feed the elected to continue in the ways of buying votes, for free stuff. The pied piper is a great analogy. Since the Fed will never be truly challenged or questioned, there's no way to stop it when those elected have to continue with the sham. Just like the Hotel California, "We are programmed to receive. You can check-out any time you like, But you can never leave! "

  • Doc

    Knowing this administration, it will only be "plated"

    • Steven

      If the government had platinum actually worth 4! trillion, they could simply SELL it to pay off the debt. The entire scheme is based on coin with a DENOMINATION far higher than the actual value of the metal.

      • pat

        well isn't that what all our coins are now?

  • dragonfFIRE01

    no it won't that's only robbing peter to pay paul

  • relayman

    Excuse me, the Constitution specifically sets forth that exclusively the Congress (alone) shall have power, "(T)o coin money and regulate the value thereof...." This was the basis for honest money and simply means that ONLY Congress can take something that is already MONEY (gold and silver in whatever form) and put it in coin form of equal divisible weight and measure. That was the honest money system brought to you by exceptional men of exceptional character and integrity. Have we departed from that!!! Both honest money that retains value over any amount of time and people of integrity running the guvmint. Even if Congress (unconstitutionally) delegated power to emit bills of credit to the federal reserve, there is no power granted to the executive to coin anything, much less stamp on a fraudulent value on any piece of metal. The Constitution also has the sole power to borrow money on the credit of the United States. Again, no power granted to the executive to do this. The only thing seemingly lacking in this charade in enough spine by republicans in both houses of Congress to do anything about it, much less stop it. We will see in the coming months.

  • Barry

    Yea, just like affirmative action resolved the social engineering issues in this country.!!!

  • http://www.facebook.com/people/Thomas-Wells/100000500298089 Thomas Wells

    Put a jackass's head on one side,and Obama's butt on the other.

    • Pat

      then the two sides would be alike

  • noitaint

    The trillion dollar coin is nothing more than the inflation on a wooden nickel.

  • dondehoff

    Coins to pay bills? I recall there is a limit to the number of coins that can be used in a transaction if the recipient does not want them. Perhaps it applies only to small value coins.

  • http://www.survivingurbancrisis.com/ Silas Longshot

    Well, if it really was pretended to have a 'trillion dollar' platinum coin, it would have to be the size and weight of a 6 foot diameter disc about a foot thick.

    But I don't think they would bother with such, cuz they can just print whatever inell they want to. But of course, the 'money' would be worth about this much.... https://lh3.ggpht.com/-i6lMxL4W_EA/TeI_dTwkomI/AAAAAAAABP8/T7fFvYk0YZ0/s1600/Eggs_35_Billion%252C_Zimbabwean_Dollar%252C_by_Philimon_Bulawayo08n.jpg

  • slickzip

    Leave it to the ODUMBA thieves to come up with a new scam ,,,,,,,,,,,,,

  • slickzip

    The republicans need to shut down the FEDERAL RESERVE the constitution never called for one ,, congress is to be in charge of minting of currency ,,,,,,,,,,

  • http://www.facebook.com/crzydancer Richard Holmes

    Hang all these theives.

  • Victor

    Yea, Mint a few Trillion Dollars coins to pay the National Debt, and then FIRE the FED and get back to Constitutional Business, as it was before Heavy TAXATION

    • Victor

      Excuse me, Heavy Taxation, and Unlimited FED Regulations that govern our every day lives

  • MrCReed54

    I know going from papper to hard coin will work becouse I went from rubber to papper with my checks and it works! Now I just need to get more money in da bank!

  • Ancoman

    $1,000,000,000,000 coins? Now just how many do you think might get misplaced before BO is booted out of Washington? They'd be a lot easier to slip out the back than everything the Clintons stole.

  • Jillian

    Just one more place to put Obama's lying smirking face. Hail, Caesar!!

  • george

    Politicians, all worthless Sons and Daughters of B17c6es and Ba$7ards.

  • Libertarian58

    20 years ago, Bo Gritz proposed that if elected president, he would have a single coin minted out of pot metal in a denomination equal to the national debt and use it to pay off the FED since the Federal reserve act allows govt. minted coin to be used as payment of debt. Of course, nobody in our current admin has the guts to do such a thing, they are all "owned" and the FED is the biggest fraud in history.

  • Public_Citizen

    The tragic part of this whole discussion is that the American Population has been so dumbed down by the public indoctrination centers masquerading as schools that they don't even know that a fraud is being committed on them.

    Here's an idea: Make the coins worth 100 Million Dollars each. Put them in all of the government accounts that have an obligation owing, ~~starting with the House and Senate Retirement Funds~~ then move on to ~~all the Federal Pension Programs~~ then to ~~all the bailout funds, etc.

  • Capt. Brian

    It is not complicated. Just seems so. If we are to move forward, we need to settle this debt problem. If we taxes every American 100% of their earnings, it would not pay the debt of the same year or any comparable time. At some point, an entity needs to admit defeat, be it in the open, or behind closed doors. This debt thing is gone far beyond repair, and unless you would like to see an inflation rate that you would not believe, there must be some other way to avoid default without printing actual moneydollars to send to our debtors. So we invent a coin which shows how much we are worth and borrow against it. REMEMBER, this coin is not so we can borrow more, it is to pay present debt. It allows the administration to five to the poor more. This solves nothing. We stil owe 122 Tttttrillion, or over 1 million per taxpayer and the average family has less than $6,000.00. See the debt clock and let your brain wrap around that one. http://www.usdebtclock.org/
    Enjoy your retirement.
    Capt. Brian

    • Capt. Brian

      spelling errors sorry five was supposed to be give, and above that, taxes supposed to be taxed. sorry

  • ICOYAR

    Of course not. Even if they DO exploit that loophole that libt@rds try to get us to do, it'll be nothing short of catastrophic on not only the American economy, but the global economy,

    Then again, since libt@rds don't see this coming, lets bring on global suicides. Libt@rds will be the first ones to go as this will catch them by surprise, much like the revolutionaries of the Bolsheviks during both Russian revolutions of 1917.

  • http://www.facebook.com/randy.renu.5 Randy Renu

    If it's priceless, it's worthless.

  • Retro Ranger

    Sure it will. After all, anything our great leader Obama believes will work is bound to be the best solution. So most of the low information voters believe.

  • freedomringsforall

    What a joke
    Here goes more of our fights and freedoms to the international cabal

  • racefish

    If this came to pass, the result would be hyper inflation akin to the way Germany was going before WWII.

  • obhfwb

    Fools gold. not worth an obama walking riding or flying.

  • http://www.facebook.com/mppedersen Michael Pedersen

    If my math is right (and I rounded up) the coin would weight 44 Million pounds. Based on the value of Platnium being 22,763.91 per pound.

  • Karl75

    Nobel laureate Paul Krugman likes the idea, we could call it Krugerman. Just think what the Chinese, Japanese, Germans Saudis et all would do when we hand them our brand new "Krugerman" coins to settle our debt with them. Heck, the Germans of the Weidmar Republic brought their marks in 100 lbs sacks in th morning to buy a loaf of bread, then in the afternoon they used wheel barrels. Zinbawe has $1Million Zimbawe dollar notes and Argentina had their Navy Training ship confiscated in Nigeria for payment overdue on their debt. Obamanomics is great, dy December we will be debt free.

    • Comrade Jim

      Millions don't go far enough. There are 100-Trillion dollar bank notes backed by the Reserve Bank of Zimbabwe. And they are available on Amazon for pennies on the dollar, er uh, oops, I mean pennies on the 100 Trillion dollar bill.

  • DON THE BRITTON

    Further proof that Obama plans on defaulting on the federal debt.

  • Gizmo51

    I Doubt if it would work as collectors would buy all of them as a collectible investment.

  • Pat

    they need to march it over to the Fed and give it to them and say there now, you are paid.

  • Bryson Cookie

    YOU ARE NOT LIVING IN A FREE COUNTRY IF…
    Time is running out to fix what the political class has destroyed in this country from a liberty-based,privacy-based,freedom-based,economic,and Constitutional … READ MORE: http://bwcentral.org/2013/01/you-are-not-living-in-a-free-country-if/

  • JEButler

    I printed a 100 thousand dollar bill and sent it to the bank to pay off my mortgage. Should work, has a lot of color and Obama's picture on it. I told them they could keep the change too. In the morning we are going out to buy groceries and a new car. Would have went tonight but the printer needed ink ;-).

  • Ranchman

    Every day, I watch my country slip more and more into the abyss of tyranny. Morals, frugality, freedom, all disappearing into a deep, dark hole. And today's younger generations won't even know what they've lost, having never been taught what this country was meant to be.

  • gypsy314

    If we do not act soon our money will be worth nothing and once the dollar fails all hell will break out and you better have some basic things to support you and yours a good food supply guns and ammo and silver and gold and basic no how to grow your own food.