An update on Malcom's posting and news article below-http://www.ashtarcommandcrew.net/forum/topics/u-s-treasury-actually-receiving-petitions-for-a-1-trillion?commentId=2859786%3AComment%3A2191484
4500 sigs so far and it's only been open since last week-it might be a good thing even if the weenies in congress mint a bunch, 'give' them to the corporation called the fed reserve, pay off debt and then borrow again-the real issue for the washington wankers is the US debt ceiling-they want more for pork projects and foreign aid and unemployment and food stamps? We the peeps will still be responsible no matter what.
WE PETITION THE OBAMA ADMINISTRATION TO:
Direct the United States Mint to make a single platinum trillion dollar coin!
With the creation and Treasury deposit of a new platinum coin with a value of $1 trillion US Dollars, we would avert the absurd-yet-imminent debt ceiling faceoff in Congress in two quick and simple steps! While this may seem like an unnecessarily extreme measure, it is no more absurd than playing political football with the US -- and global -- economy at stake.
SIGNATURES NEEDED BY FEBRUARY 02, 2013 TO REACH GOAL OF 25,000
TOTAL SIGNATURES ON THIS PETITION
You've already signed this petition
Thank you for participating. Find other petitions you're interested in or start your own.
http://www.moneynews.com/Economy/Nadler-trillion-dollar-coin/2013/01/07/id/470285
Rep. Nadler: Treasury Should Mint Trillion Dollar Coin to Avert Debt Limit Crisis
Monday, 07 Jan 2013 08:18 AM
Yet there's a simple solution that a growing number of experts are pushing: The Treasury Department could mint a trillion dollar, platinum coin, deposit it with the Federal Reserve and draw against it to pay the country's debt.
Supporters of the idea note that the Treasury Department cannot print all the money it wants, but it can by law create platinum coins of any denomination.
Editor's Note: Economist Unapologetically Calls Out Bernanke, Obama for Mishandling Economy. See What They Did
"It sounds silly, but it's absolutely legal," Rep. Jerrold Nadler, D-N.Y., told Capital, a news website on New York. "And it would normally not be proper to consider such a thing, except when you're faced with blackmail to destroy the country's economy, you have to consider things."
Republicans have vowed to refuse to raise the debt ceiling without deep spending cuts, while President Barack Obama has vowed not to negotiate over the debt limit.
Obama might only need to say he will mint the coin if needed in order to remove the Republicans' threat, argue Nadler and other “super coin” backers.
The law allowing such super coins was meant for commemorative coins for collectors, but can also be used to make large-denomination coins to pay government bills in lieu of issuing debt, explains Bloomberg columnist Josh Barro, another super coin supporter.
The Treasury should issue enough bonds to buy back all newly issued currency as soon as possible to avoid long-term inflation expectations from rising, Barro writes. Obama, he says, could agree to end his authority to mint such super coins if Congress gives up its authority over the debt ceiling.
A group is gathering petitions to prompt the Obama Administration to mint the coin.
The petition reads: "With the creation and Treasury deposit of a new platinum coin with a value of $1 trillion U.S. dollars, we would avert the absurd —yet imminent — debt ceiling faceoff in Congress in two quick and simple steps! While this may seem like an unnecessarily extreme measure, it is no more absurd than playing political football with the U.S. — and global — economy at stake."
Replies