Obama Could Mint $1 Trillion Platinum Coins to Avoid Debt Ceiling

 OpEd: Jack 
ROFL that would put the US on the Platinum standard... being that Platinum has a current price of $1609.00 per ounce... anyone now owning a ounce of Platinum would become instant Trillionaires How dumb that would be! Then again anyone wearing white gold rings...would become instant millionaires or Billionaires and the government would have to recall Platinum and pay those in US Currency...dang tax the hell outta em' Ok rant over addressing this rediculous diatribe !
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by Ben Shapiro 

With American set to hit the debt ceiling again thanks to out-of-control government spending, the Washington Post has suggested a solution for President Obama: mint two platinum coins valued at $1 trillion each. What would this do? According to the Post:

Thanks to an odd loophole in current law, the U.S. Treasury is technically allowed to mint as many coins made of platinum as it wants and can assign them whatever value it pleases.

Under this scenario, the U.S. Mint would produce (say) a pair of trillion-dollar platinum coins. The president orders the coins to be deposited at the Federal Reserve. The Fed then moves this money into Treasury’s accounts. And just like that, Treasury suddenly has an extra $2 trillion to pay off its obligations for the next two years — without needing to issue new debt. The ceiling is no longer an issue. 

By exploiting the law, liberals in government can simply end the Constitutional practice of having spending originate in the House of Representatives. Since the US Mint operates as a wing of the executive, Secretary of the Treasury Tim Geithner, who spends most of his time these days trotting around delivering other insane Obama proposals, could order such an action.


The Post floated this idea just days after meeting with President Obama at the White House, along with MSNBC opinion hosts and members of Daily Kos.