There is a saying that may be applicable here

It is a paraphrasing of something you might hear from time-to-time: "God looks after drunks, little children, and the United States of Anerica". Once you consider the mess we're in right now, you'd better hope that last group hasn't lost that one little bit of good fortune. Our luck may be running out.

The insanity of minting a trillion dollar platinum coin

2/18/25:

There was something that made me curious, and I looked into it. It turned out to be a dry hole. Nothing more to say on this subject for now.

2/17/25, 11:48 AM: 

 

You know things are bad when something crazy starts to sound like a good idea. As long as we're going bat guano crazy, why stop at a trillion? Why not mint one for the entire debt. Instead of creating debt, use the coin to back the greenbacks that will pay down the debt. At no interest.

You could mint rhodium coins. Those are the priciest metal on the markets these days. About 4k per oz. Maybe the Wizard has the answers.

2:07 PM

The Wiz says we're up that certain creek, and we have no paddle. He also says the Krugman is fulla sheet, main. It will be big bad inflation to do the coin trick. Aw, shucks.



 

 

10/6/21: Update:

Minting a trillion dollar coin

Comment:

Just when you thought things couldn't get any crazier, now this...

The original post on 1/8/13 follows

Rick Moran,  American Thinker

To use that authority to backdoor the 17th and 18th trillion dollars of the national debt would be, according to Castle, "so far-fetched and so black helicopter-ish a type of methodology of trying to resolve something like this that I think the public would totally scoff at it."

Comment:  I repeat, how is this any different from what they are already doing?  If this is crazy, then it all is.

But, I could have told you that already.

Fountain of youth

Evidently, the fountain has not run dry---yet.

If you read down the list, you've got some folks who came across on the Mayflower---I kid you not. Or they hit their heads on the rock.

According to the Social Security database, these are the numbers of people in each age bucket with the death field set to FALSE!

Maybe Twilight is real and there are a lot of vampires collecting Social Security 🤣🤣 pic.twitter.com/ltb06VX98Z

— Elon Musk (@elonmusk) February 17, 2025

Ah, so

Kobayashi Maru scenario.

Aren't you dead?

A new monetary policy needed

Most of what is proposed here is already in practice

What about the rest? All new debt is being used to create monetary expansion. Therefore, to stop this, and/or at least slow it down, begin to issue "greenbacks" in order to finance government.

We all are probably aware by now of the efforts to shrink government expenditures. But not all excessive expenditures can be removed all at once. An adjustment time is needed. Therefore, whatever can't be cut now, can be financed with greenbacks. One law may need to be set aside. It is the one that stopped Lincoln's financing the Civil War with greenbacks. The central banksters of that time put an end to that. Time to put an end to the banksters. If not a complete end, at least a sharp curtailment of their power.

In reality, the current debt will have to be serviced. To end it all in one fell swoop will risk outright rebellion. Even a curtailment of their power will be very strongly opposed. Once obtained, power is unwillingly given back.

Then, how to do this? Instead of allowing the Federal Reserve Bank to set interest rates, do the following: 1) Do not set the interest rates, allow them to float 2) by doing this, allow the market to set interest rates. How? Through the current Open Market operations. There will be an interest rate that will support current commodity prices. The market will seek that equilibrium point, and the interest rates will fluctuate according to market conditions. These conditions will not be entirely based upon a commodity like GOLD. Instead, as broad a collection of commodities as possible. These will make up an index, and the target price of that index will be the goal of policy.

But what happens to the Federal Reserve? Eventually, it will have to go. For the moment, it's services will have to be unwound. It's not clear how to work out how to remove ALL public debt. Therefore, some will have to stay until such time that it can be phased out. But no more debt should be issued. If there's a Federal deficit, it will have to be financed by greenbacks. NO NEW DEBT FINANCING through debt creation. Old debts will be serviced and paid off gradually. Interest payments will decrease over time as debt is retired.

Instead of supporting a debt servicing arrangement by setting interest rates, the rates will set monetary policy according to market conditions. There will be a gradual weaning off the debt creation scam that is swamping our financial structure. Eventually, the debt monster will lead to catastrophe, and will have to end at some point. The sooner the better, but people are going to have to get used to the idea. After all, most people don't understand how monetary policy works anyway. The public will support it if they are educated to understand how it works, and why it needs to change. It needs to change, because the banksters are stealing our freedom and sovreignty away from us. Interest expenses are tribute to their tyranny. End that tribute or lose all freedom.

Debt and the Constitution

The 14th Amendment to US Constitution, Section 4, with respect to public debt

A discussion is here in the "good old" Wikipedia.

The interpretation of this section is up to the Courts and to Congress, or so it appears.

Explaining commodities

Meant to be a comedy, but it is also quite true