Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search
 

FarCenter

(19,429 posts)
Thu Jan 10, 2013, 12:07 AM Jan 2013

Today We Saw A Major Turning Point For The Movement To Mint A Trillion Dollar Platinum Coin

There's no question: Today was a major game-changer for the movement to circumvent the debt ceiling by minting a platinum coin, a strategy that would take advantage of an arcane area of the law relating to coinage.

Today White House press secretary Jay Carney was asked about whether The White House saw the coin as a viable option, and rather than shooting it down he just evaded the question.

The response from the media has been unanimous: Carney left the door open.



Read more: http://www.businessinsider.com/mint-the-coin-today-we-saw-a-major-game-changer-for-the-movement-to-mint-a-platinum-coin-2013-1

It avoids the debt ceiling, but sequestration would still take effect. OTOH, most organizations I've been in can take a 10% cut and only lose a couple percent of output.
17 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies

Hekate

(90,686 posts)
2. I kind of thought the obverse should have a lame duck with a busted wing...
Thu Jan 10, 2013, 12:12 AM
Jan 2013

But your pentagon works too.

Tigress DEM

(7,887 posts)
3. In honor of the guy who tripled the deficit and pushed us toward the 3 trillion debt mark....
Thu Jan 10, 2013, 12:23 AM
Jan 2013

http://mises.org/freemarket_detail.aspx?control=488

<snip>
The result has been unprecedented government debt. Reagan has tripled the Gross Federal Debt, from $900 billion to $2.7 trillion. Ford and Carter in their combined terms could only double it. It took 31 years to accomplish the first postwar debt tripling, yet Reagan did it in eight.


Well, better there than on Rushmore.

MADem

(135,425 posts)
6. It shuts up the people who want to put him on the dollar, and take George off it!
Thu Jan 10, 2013, 12:27 AM
Jan 2013

And WAY better there (out of sight and mind) than Rushmore!

MADem

(135,425 posts)
7. No one's calling for him on a coin--they are calling for Reagan on US currency.
Thu Jan 10, 2013, 12:28 AM
Jan 2013

This would solve the problem and given Ronnie a platform--on a single coin~!

 

FarCenter

(19,429 posts)
8. As a matter of practicality, they should strike them in $1 billion denomination
Thu Jan 10, 2013, 12:35 AM
Jan 2013

They could put Everett Dirksen on the obverse:

"A billion here, a billion there, pretty soon, you're talking real money."


http://en.wikipedia.org/wiki/Everett_Dirksen

MADem

(135,425 posts)
10. Too nice a guy, through the long lens of history!
Thu Jan 10, 2013, 12:49 AM
Jan 2013

We're in this mess because of willy nilly spending and he was opposed to that. Though he wasn't shy about giving the Pentagon dough-re-mi during the Vietnam era...

He was a real conservative, and he was a supporter of Civil Rights. Those two POVs can't be held by a single individual nowadays...!

I suppose if they minted billion dollar coins, there would be rich farts who'd want to have one, just to demonstrate how rich they were...

Cha

(297,237 posts)
13. I think "Reagan" in a
Thu Jan 10, 2013, 02:12 AM
Jan 2013

perverse kinda way. The r-insane-w would go ballistic about the minting but maybe not so much if their perennial hero was slapped on the front.

'Course, I can't really speak to what they'd do.

MADem

(135,425 posts)
14. Well, the less good the person did, the higher the denomination.
Thu Jan 10, 2013, 02:58 AM
Jan 2013

Notice how the real lions -- Washington, Lincoln, Franklin--are on the cheap money! The fartier types are on the pricier bills! Grover Cleveland used to be on the thousand dollar bill, when they were out there, and Wilson's on the hundred grand (that only gets circulated between banks)!


http://en.wikipedia.org/wiki/Large_denominations_of_United_States_currency


It will help stop the "Put Reagan on the Dollar Bill" people...that's an AWFUL idea, IMO.

pnwmom

(108,978 posts)
9. Most of the affected programs have already faced numerous cutbacks in the last several years.
Thu Jan 10, 2013, 12:39 AM
Jan 2013

They'll be cutting into muscle and bone.

Control-Z

(15,682 posts)
12. My understanding
Thu Jan 10, 2013, 01:57 AM
Jan 2013

of sequestration is that the entitlement programs are all safeguarded. There was an OP yesterday, I believe, that listed the condistions. I'm on my phone so I can't seaarch right now but will try to link to it when I'm at my computer.

pnwmom

(108,978 posts)
16. Which is precisely why the non-military programs that ARE hit will be hit very deeply. One example:
Thu Jan 10, 2013, 03:05 AM
Jan 2013

Last edited Thu Jan 10, 2013, 03:53 AM - Edit history (1)

the Department of Justice.

http://mediamatters.org/blog/2013/01/03/media-silent-on-potential-sequestration-effects/191997


U.S. Attorney General Eric Holder said Tuesday that if the Justice Department were faced with budget cuts due to sequestration, he believes that he would be able to maintain public safety by shifting resources and that the federal prison system could operate "for months" if necessary.

"I have the flexibility to move funds within the Department," Holder said.

However, nearly all civil cases would have to be put on hold, he added during an extended interview with National Public Radio reporter Nina Totenberg after giving an address at the John F. Kennedy Presidential Library in Boston.

If DOJ civil litigation is placed on the back burner, then so too is a large component of DOJ's efforts at compensating victims of the illegal mortgage practices of financial institutions before the recession. The DOJ has filed six lawsuits in response to past fraud and discrimination allegedly endemic among banks such as Wells Fargo, Citigroup, and Deutsche Bank, including a recently settled case against the Bank of America.

SNIP
___________________________________
Another example: Federal funds for education would be severely impacted

http://www.pbs.org/newshour/rundown/2012/12/how-will-the-fiscal-cliff-impact-education-funding.html

That means programs like Head Start, a child development and school readiness program for low-income families funded by the Department of Health and Human Services, would be hit especially hard. Sen. Harkin's report estimates Head Start would serve roughly 96,000 fewer children under sequestration, while another 80,000 would miss out on other childcare and development services.

SNIP

Cuts in federal funding would jeopardize services at schools that serve the neediest children. Federal funding for elementary and secondary education is directed primarily at low-income students as well as English language learners and those with special education needs.

"It in essence widens the gaps between the haves and have-nots," said Daniel A. Domenech, executive director of the American Association of School Administrators.

"The wealthy suburban communities that receive very little federal funding -- it's not going to have much impact on them."

But at urban school districts where a majority of the students are poor, a decline in federal funding, he said, "is going to be catastrophic..."


_________________________________
And then there are cuts to areas like the food safety regulation, nuclear regulation, etc.

http://www.washingtonpost.com/blogs/federal-eye/wp/2013/01/02/tax-deal-done-sequestration-delayed/

“These cuts will impact federal agencies and their ability to provide services to the American public including food and drug safety, border security, nuclear regulation, and much more,” said National Treasury Employees Union president Colleen M. Kelley in a statement Tuesday.

Warren DeMontague

(80,708 posts)
17. Yes, but will Vending Machines accept it?
Thu Jan 10, 2013, 03:41 AM
Jan 2013

One of my fantasies is to be able to buy a Reagan-Class Nuclear Aircraft Carrier out of a machine.

Latest Discussions»General Discussion»Today We Saw A Major Turn...