TCTI: Too Crazy Too Ignore
 Dave Ross
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No coin for you

BY Dave Ross  on January 14, 2013 @ 5:34 am (Updated: 9:31 am - 1/14/13 )

Well, so much for the trillion dollar coin.

The idea, in case you missed it, was to avert the coming debt ceiling crisis by using a loophole in the law on commemorative coins.

That loophole restricts the value of gold and silver coins but not platinum coins and could authorize the U.S. mint to go ahead and strike a platinum coin with a value of one trillion dollars.

It would then become legal tender, and be deposited at the Federal Reserve, instantly putting a trillion dollars in the U.S. Treasury's checking account. Allowing it to write checks without borrowing money, thereby inoculating it from the debt debate.

It would have been a monetary flu shot. Once the debt ceiling was raised, the coin would be liquidated, and everything would be back to normal.

I spoke to Philip Diehl, the former director of the Mint who helped write the coin measure.

"I've been watching the White House on this proposal very closely over the last week or so and (the president) has not ruled this out," said Diehl.

That was Friday. By Saturday the Federal Reserve which would have to recognize the value of such a coin for the scheme to work, said, no way are we taking your coin. And just like that, the idea was dead.

And you can see why. It would reflect too casual an attitude toward large amounts of money. It would be taking something with no real value and trying to pretend it was a real asset - something no real financial institution would ever do.

Well - they wouldn't do it any more.

Dave Ross, KIRO Radio Talk Show Host
Dave Ross is co-host of The Ross & Burbank Show on KIRO Radio (weekdays 9-Noon) and never too far from the spotlight.
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  • Paul Kersey wrote...
    Baraka hates your children
    January 14, 2013 5:38 am
    Increasing America’s debt weakens us domestically and internationally. Leadership means that the buck stops here.

    The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children . . . so that we now have over $9 trillion of debt that we are going to have to pay back — $30,000 for every man, woman, and child. That’s irresponsible. It’s unpatriotic.

    And that’s why today I’m pledging to cut the deficit we inherited by half by the end of my first term in office. I refuse to leave our children with a debt that they cannot repay. (he means HIS children, not yours)

    Baraka Hussein Obama

    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • maplefish wrote...
    Yep,
    January 14, 2013 6:13 am
    Obama is the King of the Lying Hypocrites! www.youtube.com/watch?v...autoplay=1
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • sportsguru wrote...
    Mr. Kersey
    January 14, 2013 6:49 am

    I would like to know what you would do as president to bring down our debt, what programs are you okay cutting? How much and what departments of government would you be willing to remove?

    Where would you get the money to pay off the debt and more importantly, how would you get a basically divided congress to follow your lead as to how America can move forward in the future and how would you spark the economy and spur job growth and how would you deal with our military presence around the globe and draw down the troops and when?

    I look forward to your reply.

    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Paul Kersey wrote...
    sporty
    January 14, 2013 7:10 am
    I would support spending cuts across the board and starving the out of control beast through lower taxes. As for the military, I would not be using it for nation building in third world hell holes. I realize this was started as Bush's NWO dream, but the policy has been continued by Obama. I supported the initial invasion of Afghanistan and neutralizing the enemy by bombing them out of their caves, but building schools and infrastructure for these first century goat humpers who hate us is beyond infuriating. We can't even protect our own borders, why are we rewarding them for attacking us?
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • sportsguru wrote...
    Paul
    January 14, 2013 7:46 am

    I guess my mother is rolling over in her grave because I actually agree with everything you indicated except the I am not sure you can lower taxes at this point, however, I definitely wouldn't raise them anymore and require them to make due with the taxes that they receive with the spending cut's proposed (I am using the savings to pay down the debt is why I wouldn't lower taxes, which is the peoples debt).

    You still haven't answered how you are going to get around congress to make this work with your spending cuts, military draw down etc...?

    That's the big albatross that every President has to deal with.

    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Paul Kersey wrote...
    getting around Congress
    January 14, 2013 8:07 am
    Well, what we need (and I don't claim to have these qualities) is a President who can talk to both sides, build relationships and work things out with opposing views. What we have is a dismissive, insulting and antagonistic leader who seems to have nothing but contempt for half of this country. I have never seen a President like this in my lifetime. Nixon (or even Agnew) wasn't even close to being this hostile to his enemies. BTW.. Your mother may have liked me if she had known me in person.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Chuck Gould wrote...
    RWKJ rhetoric, vs. the Constitution of the United States
    January 14, 2013 7:25 am
    Wow. The subject of debt comes up, and several posters rush to put up their daily affirmations of hatred for the President of the United States.

    Funny thing is, the President doesn't have the power to borrow a dime.

    Duties assigned to congress, per that radical lib document, the US Constitution:

    The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defense and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States; To borrow money on the credit of the United States; To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes; To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States; To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures; To provide for the Punishment of counterfeiting the Securities and current Coin of the United States; To establish Post Offices and Post Roads; To promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries; To constitute Tribunals inferior to the supreme Court; To define and punish Piracies and Felonies committed on the high Seas, and Offenses against the Law of Nations; To declare War, grant Letters of Marque and Reprisal, and make Rules concerning Captures on Land and Water; To raise and support Armies, but no Appropriation of Money to that Use shall be for a longer Term than two Years; To provide and maintain a Navy; To make Rules for the Government and Regulation of the land and naval Forces; To provide for calling forth the Militia to execute the Laws of the Union, suppress Insurrections and repel Invasions; To provide for organizing, arming, and disciplining the Militia, and for governing such Part of them as may be employed in the Service of the United States, reserving to the States respectively, the Appointment of the Officers, and the Authority of training the Militia according to the discipline prescribed by Congress; To exercise exclusive Legislation in all Cases whatsoever, over such District (not exceeding ten Miles square) as may, by Cession of particular States, and the acceptance of Congress, become the Seat of the Government of the United States, and to exercise like Authority over all Places purchased by the Consent of the Legislature of the State in which the Same shall be, for the Erection of Forts, Magazines, Arsenals, dock-Yards, and other needful Buildings; And To make all Laws which shall be necessary and proper for carrying into Execution the foregoing Powers, and all other Powers vested by this Constitution in the Government of the United States, or in any Department or Officer thereof.

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  • Paul Kersey wrote...
    uhh Chuck
    January 14, 2013 7:29 am
    Whose picture did Dave Ross post at the top of the page? Dave endorsed him, why would you claim he hates him?
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  • Chuck Gould wrote...
    Sorry Paul, but Dave Ross posting a photo on a web site in Seattle
    January 14, 2013 7:47 am
    doesn't grant the President of the United States new powers under the constitution.

    The President is not borrowing money. Nor did Bush, Clinton, Bush I, Regan, etc etc etc ever borrow any money.

    Congress borrows the money. One house of Congress is controlled by your party, and you guys block whatever you want to block in the other by spouting nonstop nonsense...(er, I guess when it's done officially they call it "filibustering")

    Idea to blow our mind, Paul. In fact, I would suggest that if you have read this far you stop right now. Who knows if you can take this radical thought? We have a common national problem concerning revenue and expenses. We must find a common, national solution. Both parties must be more committed to solving the problem than to leaving it unsolved as a means to leverage political propaganda. Neither party currently is. Not the President's, and not yours.

    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Paul Kersey wrote...
    look Chuck
    January 14, 2013 7:56 am
    you should direct your patronizing speech at Obama, not me. I know you enjoy speaking down to others, as though you are smarter, classier, or just plain better than anyone else, but you are a legend only in your own mind.

    I merely posted quotes from Obama. It was OBAMA (not me) that claimed the buck stops with him and it was OBAMA (not me) who blamed Bush for the previous 8 years of spending, and it was OBAMA who promised that he had the power to cut the deficit in half by the end of his first term.

    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • zounds wrote...
    You know, in your case, Paul
    January 14, 2013 8:09 am
    He is "smarter, classier, or just plain better ".
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Paul Kersey wrote...
    oh good one zounds
    January 14, 2013 8:19 am
    your sharp wit and Chuck's superior intellect. What a team.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • William Lawn wrote...
    Kersey
    January 14, 2013 8:25 am
    Hey zounds, how's it going?

    Kersey, zounds is one of my other handles.

    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • maplefish wrote...
    Hey CHUCK
    January 14, 2013 8:54 am
    Click he link on my post. Watch. Listen and shut-up!
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • Paul Kersey wrote...
    The most likely scheme will be
    January 14, 2013 5:54 am
    a banana republic style overnight devaluation of the dollar. Food, gas and almost everything else will instantly double in price and your life savings will be halved.

    But just remember the promises. If you make less than $250k/year your taxes will not go up.

    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • CH wrote...
    when they stop your SS checks -
    January 14, 2013 6:05 am
    you can thank the republicans!!
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • mnpat wrote...
    CH, you need a better understanding on how the government works or in many cases doesn't work.
    January 14, 2013 6:47 am
    There are currently two political parties, neither have shown the ability to control spending. They know that to get elected all they need to do is show some part of our population to be victims and spend future generation income away.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • It's me! Ha ha! wrote...
    The Dear Leader is not looking for an end to the deficit spending.
    January 14, 2013 6:23 am
    The regime and the Dear Leader want this to happen and to continue. No different that the Gun Control crisis! As is evident with all the mindless Left wing Parrots here on the boards. Obama can do no wrong. Non of these Parrots has even allowed them to thing that the beloved Dear Leader can do anything wrong.

    Of course their is always the Left's favorite fall back, "It's all Bush's fault"!

    Your Dear Leader thanks you Left wing Parrots!

    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • William Lawn wrote...
    Lord Ha Ha
    January 14, 2013 7:20 am
    How is Romney's immaculation chances today?

    Burns, doesn't it?

    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • It's me! Ha ha! wrote...
    That Pic of the Dear Leader,
    January 14, 2013 6:36 am
    Let's start a caption contest. What is the Dear Leader thinking of?

    Drone Strike!

    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • sportsguru wrote...
    It's me! Ha ha!
    January 14, 2013 6:50 am

    More like "Talk to the hand because these ears don't understand".

    That dribble coming out of your mouth.

    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • William Lawn wrote...
    sportsflounder
    January 14, 2013 7:20 am
    It's drivel, you flounder.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • It's me! Ha ha! wrote...
    sportsguru
    January 14, 2013 7:04 am
    You soak up all that dribble coming out of your Dear Leaders mouth.

    You voted for this moron so don't even think about blaming me for your continued indiscretions!

    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • roomtemp wrote...
    "no way are we taking your coin"
    January 14, 2013 7:04 am
    My response to the federal reserve would be...

    No way are we paying your interest. We're printing our own money now as the constitution requires. Say goodbye to your charter, we're repealing the federal reserve act of 1913.

    That would of course require a president who isn't a wholly owned subsidiary of the banking cabal though. And one with balls. Haven't had one of those for a long time.

    "It would be taking something with no real value and trying to pretend it was a real asset - something no real financial institution would ever do."

    You do have your moments Mr Ross... And not only do we pretend it's an asset, we'll kill anyone who doesn't. Long live the empire!

    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • William Lawn wrote...
    roomtemp
    January 14, 2013 7:26 am
    And when prices go through inflationary spirals and when we have another depression because no one buys our exports we'll have you to thank, you flounder.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • roomtemp wrote...
    @Lawn...
    January 14, 2013 12:53 pm
    "And when prices go through inflationary spirals and when we have another depression"

    Wait for it... In case you haven't noticed, there is a currency war going on right now. China, ECB (Euro), Russia, India, Brazil, Japan, etc, etc, are all printing fake money in a race to devalue their currencies and stay competitive with the US.

    We have had both depressions and recessions since the inception of the federal reserve btw. They don't prevent either of them from occurring.

    Here's a glimpse into your central bank empowered future, sockpuppet...

    http://www.zerohedge.com/news/2013-01-14/greeks-raid-forests-search-wood-heat-homes

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  • HPD 5-0 wrote...
    Only you Dimshits would come up with this.
    January 14, 2013 8:13 am
    A "brillian" idea. Create a coin, worth $50, but SAY it's worth a Trillion. Like I said: math and common sense two things the left failed. Obviously, they also failed economics. No wonder we are in such trouble, fiscally. These are the peopel "in charge". We are all doomed.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • HPD 5-0 wrote...
    all they need to do is show some part of our population to be victims and spend future generation income away.
    January 14, 2013 8:14 am
    mnpat, you are wasting your time. CH is part of the problem. He's one of those "victims". It's only about HIM and the NOW. He has no kids and will never re-produce (I hope) due to the low sperm count he'll have due to his constant consumption of MJ. He has no job, no future, "no hope" and eventually his mom will get tired of his crashing in the basement. His only "resource" is hard working people like you & me and the gov't thieves that take our money and give it to people like him. Like I said, you're wasting your time.
    { "Thumbs Up":"1","Thumbs Down":"-1" }
  • flipper wrote...
    Another lame attempt
    January 14, 2013 8:29 am
    This sounds like something that came out of the tax cheat Geithner, so the used car salesman Obama and Pappa Joe Biteme ran with it. The corollary to it would be, in your personal life, I have no more money to keep spending more and more so I'll keep getting credit cards. Except that we have to pay of the credit cards and Obama and Pappa Joe don't. They get a lifetime salary and secret service protection...who have guns...
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