Do you prefer direct links to content? Check out our sister site at Uncanceled.news.
Rashida Tlaib Some Democrats want to mint a $1 trillion platinum coin to avoid a potential debt crisis.
Two years ago, Congress suspended the debt ceiling — which bars the federal government from assuming a certain level of national debt — until August 2021. Because Congress has so far failed to vote on continuing the suspension or increasing the limit, Treasury Secretary Janet Yellen is warning that the federal government will run out of money on October 18.
As a result, some Democrats are resurrecting a proposal to mint a $1 trillion coin made of platinum and deposit it at the Federal Reserve — an accounting trick that would theoretically retire $1 trillion in government debt. The idea of minting a trillion-dollar commemorative coin to shore up the nation’s finances comes from an obscure law that gives the U.S. Treasury Secretary the authority to “mint and issue platinum bullion coins and proof platinum coins in accordance with such specifications, designs, varieties, quantities, denominations, and inscriptions as the Secretary, in the Secretary’s discretion, may prescribe from time to time.”
Proponents have picked up on the “denominations” note there, arguing that any amount could be minted at a normal coin size and deposited into the Federal Reserve to prevent a national debt crisis.
The prospect of a trillion-dollar coin is not new. President Obama explained in a 2017 interview that his advisers briefly considered minting the coin amid debate over the 2013 debt crisis.
“There was this theory that I had the authority to issue through the mint this massive $1 trillion coin and on that basis we could try to pay off US Treasurys,” Obama said on Pod Save America. “It was a very realistic possibility that we couldn’t get the votes for that and we couldn’t get those debts rolled over and we would be in a situation where we were technically in default. At that point, you were in uncharted territory.”
As the controversy over the federal government’s solvency emerges again, Rep. Rashida Tlaib (D-MI) tweeted “#MintTheCoin” — a hashtag that was used by proponents of the coin during the […]
One Sick Day Proves We Need More Voices in Truthful Media
On October 19, I was sick. It crossed my mind that I had finally gotten the ‘rona, but my wife’s cream of chicken soup and a few extra hours of sleep into mid-afternoon had be back up and running after a sleepless night before.
When I finally stumbled over to my computer in the evening, I was met with a deluge of concern from readers. They asked what had happened as only one article had been posted that day. Generally, we post between 10-20 daily between all of the sites, not included curated and aggregated content. Seeing that we’d only posted my super-early morning article before taking the rest of the day off had readers assuming the worst.
We have a wonderful and talented group of writers who volunteer their time for the sites and their readers. Sharing their amazing perspectives has always been a blessing to us because we cannot afford to hire anyone at this time. But having great writers is meaningless if we don’t have great editors, or at least one additional. My wife helps me read and edit stories from time to time, but I’m a one-man show when it comes to getting the stories posted.
Whenever I highlight our desperate need for donations, I note that we do not receive money from Google ads even though most in conservative media are beholden. I often ambiguously note that the money donated will help us grow. Today, I’m highlighting a specific need. We must get an editor to help take some of the load and to expand on our mission of spreading the truth to the world. One sick day proved that.
The great news is that there is no shortage of people who CAN help. I am emailed variations of resumes every week by people who are much smarter than I am. As much as I’d love to hire some of them, we simply cannot. That takes money and as blessed as we’ve been to receive donations and collect ad money (though not from Google or Facebook), we have still fallen short.
Those who have the means, PLEASE consider donating. We have the standard Giving Fuel option and people can donate through PayPal. We are also diving into what we believe is extremely disruptive technology at LetsGo.finance, the world’s first major donation portal for crypto. I’ll be talking a lot more about them in the near future. Those who prefer Bitcoin can send to my address here: 3A1ELVhGgrwrypwTJhPwnaTVGmuqyQrMB8
We can get the voices out there and we’re willing to shine a spotlight on new talent. We just need the resources to make it happen. If you can help, we would be extremely grateful.
Thank you and God bless!
All ORIGINAL content on this site is © 2021 NOQ Report. All REPUBLISHED content has received direct or implied permission for reproduction.
With that said, our content may be reproduced and distributed as long as it has a link to the original source and the author is credited prominently. We don’t mind you using our content as long as you help out by giving us credit with a prominent link. If you feel like giving us a tip for the content, we will not object!
JD Rucker – EIC