Tuesday, October 8, 2013

President Nixes Trillion Dollar Coin Idea

During a press conference held today by President Obama,  he brought up the idea of his going around the debt ceiling by creating a trillion dollar coin, which has been proposed by some. He said that such a move could not be a solution because a coin and other technical attempts at going around the debt ceiling would result in using a legal technicalities that would be challenged in court, which would  cause more problems than it would solve., as holders of such created securities would not know for years if the securities they held were valid.


  1. As any fool can see, including the President, a trillion dollar coin is just plain silly.

    A quadrillion dollar coin, on the other hand, would REALLY solve our problems. But platinum is just too damn expensive for a government as insolvent as the U.S. We need to stamp it out of a premium fiat material like the rest of our currency. A nano-titanium impregnated buffalo chip comes to mind...

  2. I think the President is missing the point on why a trillion dollar coin would be a bad idea.

    However, it's to be expected from someone who calls for a minimum wage increase.

  3. The real reason this isn't a solution is because the money wouldn't be borrowed at interest from the private banking cartel. Otherwise it's actually not a bad idea compared to the other stuff that is being proposed. At least we wouldn't be in further debt.

    I'll take inflation all day long over debt and inflation.