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01-10-2013, 05:46 PM
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#1
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Registered User
Join Date: Nov 2002
Posts: 30,398
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How to Checkmate THE RETHUGS
Boner and the sorry ass majority in the House will cave or....
Be warned! 
Last edited by hcap; 01-10-2013 at 05:52 PM.
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01-10-2013, 08:29 PM
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#2
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Registered User
Join Date: Oct 2004
Posts: 14,036
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Quote:
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Originally Posted by hcap
Boner and the sorry ass majority in the House will cave or....
Be warned! |
Whats your honest take on this?... You're smart and I'm curious.
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01-10-2013, 09:45 PM
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#3
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Registered User
Join Date: Nov 2002
Posts: 30,398
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Quote:
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Originally Posted by elysiantraveller
Whats your honest take on this?... You're smart and I'm curious.
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It looks like it is legal--or enough so it could not be blocked at first to prevent it from being used. Republicans will know this.
If I was Obama I would use it as a final bargaining chip. I don't think the republicans want to deal with public opinion if we default. They will be blamed. Because of various factors, the election, fiscal cliff deal and the general disarray of the repugs, psychologically Obama is already dealing from a position of strength. The trillion dollar coin introduces the "I will pull a crazy man maneuver" of uncertainty. Meaning just the public impression of the House repugs malingering and then Obama saving of us from default by being clever and resourceful- the coin-and then the repugs left looking like fools, will scare them down.
That;s my political take. Bottom line, I would use the option as a last resort and let the courts work it out later after avoiding yet another credit devaluation. You know my feelings of unnecessarily fear and trembling about the long term debt. Well that is only manageable if interest rates do not rise to much higher levels.
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01-10-2013, 09:52 PM
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#4
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The Voice of Reason!
Join Date: Mar 2001
Location: Canandaigua, New york
Posts: 112,860
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You know what we call that in the real world, hcap.....passing a bad check. You seem to be cut from the same low-integrity clith as your boy Obama.
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01-10-2013, 10:14 PM
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#5
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Registered User
Join Date: Oct 2004
Posts: 14,036
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Quote:
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Originally Posted by hcap
It looks like it is legal--or enough so it could not be blocked at first to prevent it from being used. Republicans will know this.
If I was Obama I would use it as a final bargaining chip. I don't think the republicans want to deal with public opinion if we default. They will be blamed. Because of various factors, the election, fiscal cliff deal and the general disarray of the repugs, psychologically Obama is already dealing from a position of strength. The trillion dollar coin introduces the "I will pull a crazy man maneuver" of uncertainty. Meaning just the public impression of the House repugs malingering and then Obama saving of us from default by being clever and resourceful-the coin-and then the repugs left looking like fools, will scare them down.
That;s my political take. Bottom line, I would use the option as a last resort and let the courts work it out later after avoiding yet another credit devaluation. You know my feelings of unnecessarily fear and trembling about the long term debt. Well that is only manageable if interest rates do not rise to much higher levels.
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Or you could just cut spending... which you have agreed to do anyway... 
Such a maneuver would guarantee a credit devaluation and the spiking of interest rates.
The fact that this is even being "considered" speaks volumes about the sheer stupidity we have in office...
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01-10-2013, 10:18 PM
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#6
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Registered User
Join Date: Aug 2009
Posts: 6,371
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Quote:
a tiny section in the U.S. code that allows the Treasury secretary to "mint and issue platinum bullion coins and proof platinum coins" of a size and denomination of "the secretary's discretion." This is mainly for commemorative coins,
Read more: http://www.foxnews.com/politics/2013...#ixzz2HdFeJ5gZ
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So hcap your OK with Obama turning the US into the Danbary Mint... Order your 16... no 18 coin set today just pay separate shipping and handling on each coin.
Obamanomics...If you have a leak in your bucket just cut it out... that'll fix it... but if for some reason it still leaks cut that one out... soon you'll have handle on a hole bucket... 
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01-10-2013, 10:22 PM
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#7
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Registered User
Join Date: Nov 2002
Posts: 30,398
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Quote:
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Originally Posted by Tom
You know what we call that in the real world, hcap.....passing a bad check. You seem to be cut from the same low-integrity clith as your boy Obama.
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Low integrity? How many posts have you made on company time today? 100, 200?
Don't be shy 
Passing bad checks is not legal. The trillion dollar coin apparently is.
Will it set off a court battle? Of course, but it will shut up retugs plans to hold the economy hostage----AGAIN.
Let the courts work out who is acting unconstitutionally. But for now it is a fix that works to avoid republican default bull.
Representative Jerrold Nadler, Democrat of New York, signed on to the trillion-dollar coin plan, telling Capital New York: “It sounds silly but it’s absolutely legal. 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.”
Last edited by hcap; 01-10-2013 at 10:31 PM.
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01-10-2013, 10:29 PM
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#8
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Registered User
Join Date: Nov 2002
Posts: 30,398
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Quote:
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Originally Posted by elysiantraveller
Or you could just cut spending... which you have agreed to do anyway...
Such a maneuver would guarantee a credit devaluation and the spiking of interest rates.
The fact that this is even being "considered" speaks volumes about the sheer stupidity we have in office... |
Spending has been cut. Just not enough to satisfy the republicans who want to reign in the poor and middle class on "entitlements"
Why would it prompt a devaluation? We do know a default definitely would.
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01-10-2013, 10:38 PM
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#9
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Registered User
Join Date: Nov 2002
Posts: 30,398
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1-Have you heard about the trillion dollar platinum coin? Obama calls it "change he can believe in."
2-Pres Obama: "When I said there would be no negotiation on the debt ceiling, well I mint it."
3-The coin could feature a picture of a pyramid with an eyeball on top saying "What debt ceiling? I don't see it" and the slogan "E Pluribus Unum Trillion."
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01-10-2013, 10:42 PM
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#10
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Registered User
Join Date: Oct 2004
Posts: 14,036
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Quote:
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Originally Posted by hcap
Spending has been cut. Just not enough to satisfy the republicans who want to reign in the poor and middle class on "entitlements"
Why would it prompt a devaluation? We do know a default definitely would.
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Because your "fiscal" solution is to willingly devalue your currency by the tune of $1 Trillion dollars. If the immediate act of creating $1 trillion dollars didn't cause the devaluation the cascading effect of increased interest rates would. Who in the !@#$ would want to buy our notes at next to nothing when we are so willing to throw away the value of our currency?...
The only solution is meaningful deficit reduction... you keep saying this has happened... I'm asking where? I'm not one of these "debt doomsday" people but we simply can't keep tacking on trillion dollar deficits every year. Entitlements need to be adjusted.
I find it highly hypocritical that you are quick to point out wall street bankers making something out of nothing but its okay when your CinC decides to do it.
This wouldn't be a solution to the problem it would exacerbate it.
But hey looking long term isn't really part of the Democrat platform these days....
Last edited by elysiantraveller; 01-10-2013 at 10:45 PM.
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01-10-2013, 10:55 PM
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#11
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Registered User
Join Date: Aug 2009
Posts: 6,371
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Quote:
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Originally Posted by hcap
1-Have you heard about the trillion dollar platinum coin? Obama calls it "change he can believe in."
2-Pres Obama: "When I said there would be no negotiation on the debt ceiling, well I mint it."
3-The coin could feature a picture of a pyramid with an eyeball on top saying "What debt ceiling? I don't see it" and the slogan "E Pluribus Unum Trillion."
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And it won't be worth the metal it's plated with... so fixes nothing. An IOU on IOU's backed by a band of shopaholic Dem's. Yep that's the ticket... Rupees here we come.. .
Last edited by OntheRail; 01-10-2013 at 10:57 PM.
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01-10-2013, 11:05 PM
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#12
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Registered User
Join Date: Nov 2002
Posts: 30,398
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Quote:
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Originally Posted by elysiantraveller
Because your "fiscal" solution is to willingly devalue your currency by the tune of $1 Trillion dollars. If the immediate act of creating $1 trillion dollars didn't cause the devaluation the cascading effect of increased interest rates would. Who in the !@#$ would want to buy our notes at next to nothing when we are so willing to throw away the value of our currency?...
The only solution is meaningful deficit reduction... you keep saying this has happened... I'm asking where? I'm not one of these "debt doomsday" people but we simply can't keep tacking on trillion dollar deficits every year. Entitlements need to be adjusted.
I find it highly hypocritical that you are quick to point out wall street bankers making something out of nothing but its okay when your CinC decides to do it.
This wouldn't be a solution to the problem it would exacerbate it.
But hey looking long term isn't really part of the Democrat platform these days.... |
Debt reduction under Obama:
From the "Rich still aren't paying their fair share" thread post#135
http://www.motherjones.com/kevin-dru...ar-24-trillion
I don't get your objection to paying bills that congress has already authorized. I would argue refusing to pay back loans are the main reason for credit devaluation. Wouldn't you?
As far as the printing "money argument". We are really printing a "means" to payoff our creditors. The coin is not going into general circulation funds, and unless the republicans block the promissory value of the coin it will be accepted as US payments and will allay fears this time of not getting paid back..
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01-10-2013, 11:07 PM
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#13
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The Voice of Reason!
Join Date: Mar 2001
Location: Canandaigua, New york
Posts: 112,860
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hcap has only 4 more pieces and his Civil War Chess Set is complete!
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01-10-2013, 11:13 PM
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#14
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Registered User
Join Date: Nov 2002
Posts: 30,398
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Quote:
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Originally Posted by OntheRail
And it won't be worth the metal it's plated with... so fixes nothing. An IOU on IOU's backed by a band of shopaholic Dem's. Yep that's the ticket... Rupees here we come.. . |
It will be deposited into the US Treasury and will NOT be a "fake" ornamental or commemorative coin
Why is paying the bills on what has already been authorized by congress inflationary? You may argue that there is no gold standard anymore, but like any other currency today, currency is only as good as the country that issues it .
Default bad. Paying bills good
Last edited by hcap; 01-10-2013 at 11:15 PM.
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01-10-2013, 11:26 PM
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#15
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The Voice of Reason!
Join Date: Mar 2001
Location: Canandaigua, New york
Posts: 112,860
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Quote:
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It will be deposited into the US Treasury and will NOT be a "fake" ornamental or commemorative coin
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Just like a bad check.
Reality is just out of reach to you, isn't it?
[YT="hcap at home"]eGlx48D9DsI[/YT]
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Last edited by Tom; 01-10-2013 at 11:32 PM.
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