The Debt Ceiling Limit can be BYPASSED!! 14th Amendment and #Platinum #Coin #Seigniorage

The Debt Limit can be BYPASSED!! (I. Rendered Unconstitutional, II. Have US Treasury produce 500 billion platinum coins (debt free) which can pay the entire debt, render the limit useless and then we can all put Republicans in a plane to China i.e., kick them in their rear!

First note that The National Debt Is a Republican Congress measure passed in 1971 by eliminating the Gold Standard  http://t.co/H8Ppd5N this could be reversed AND  NOTE IMF Chief: Republicans Could Cause Global Economic Turmoil http://bit.ly/qsoVrc

Note also as background to ceiling debate the comments of a high ranking conservative THE REAL GOP/LIBERTARIAN MOTIVE IN DEBT NEGOTIATIONS - No MORE LEECHES IN SOCIETY ... http://kvs.co/cChZ

Also, before proceeding note the Seven Deadly FALLACIES OF ECONOMIC CONSERVATIVE PHILOSOPHY "Seven Deadly Innocent Frau... http://kvs.co/bg01

   ****************         NOW THE ISSUE AT HAND *********************

UNDERSTANDING EMERGENCY POWERS OF PRESIDENCY AND CONSTITUTIONAL LAW (IN ADDITION TO 14TH AMENDMENT.SEC4)

http://bluemassgroup.com/2011/07/obama-call-boehners-bluff/

I. Rendered Debt Ceiling unconstitutional - President can have the power to do it wihout congress approval as described in these articles:

DEBT LIMIT IS STATUTORY LAW TRUMPED BY the Constitution Section 4 of the 14th Amendment says, “The validity of the public debt of the United States…shall not be questioned.” http://t.co/3KvvnQJ

Dear GOP, default is unconstitutional
The tea party usurpation would destroy the original point of the Constitution. The Founders would be shocked — though I suppose they long ago stopped rolling in their graves. http://dyn.politico.com/printstory.cfm?uuid=39242262-48A0-45C3-A605-3A9DD53D8EDC

The Speech Obama Could Give: 'The Constitution Forbids Default' http://t.co/jhjRhCd

Geithner Reads Directly From Constitution: Debt 'Shall Not Be Questioned' http://huff.to/l4DdDv

Thomas Edison on Government Created Debt-Free Money http://prosperityuk.com/2000/09/thomas-edison-on-government-created-debt-free-money/

 

II. Debt can be eliminated by having the Treasury produce coins (has the power to do it) and deposit such for paying the debt with the Federal Reserve

"Seigniorage" ANOTHER WAY TO GO AROUND DEBT CEILING AND CONGRESS  http://www.correntewire.com/will_he_say_he_has_no_choice_or_will_he_use_seigniorage

Obama can Direct TreasuryDept MINT to create platinum coin of $500 Trillion. Direct the mint to deposit the coin in its account at the New York Federal Reserve. Direct the Treasury to “sweep” the mint's account to collect profits from coinage (this would result in marking up Treasury's account at the New York Fed by $500 Billion). Inform Congress and the public that the previous actions were taken to head off any possibility of default  http://www.ourfuture.org/blog-entry/2011041405/use-coin-seigniorage-now

US GOVERNMENT DOES NOT NEED TO BORROW MORE TO PAY DEBT Debt Limit IS IRRELEVANT "Coin Seigniorage" = US Government is the monopoly supplier of US dollars and yet our politicians go through life thinking the government will run out of money unless it can borrow more READ MORE:
Coin Seigniorage and the Irrelevance of the Debt Limit http://fdl.me/fhbbIb

 Alan Simpson: I knew Ronald Reagan and you, @GroverNorquist , are no Ronald Reagan - http://kvs.co/aL4x Rejecting GOP absolutism on Revenue Increases. We have a revenue problem. GOP is wrong.

 

Petition @whitehouse to Stand Up to GOP! No More Cuts! Raise Taxes on Top 2% http://act.ly/3vb

 Gop myth: increasing the government’s borrowing ability(increasing debt limit) is requesting another blank check for more spending ...

Fact: false, it is about paying accrued debt that must be paid because it is already owed Not raising the debt limit does not forgive the already existing Debt. This should not be an issue, we have to pay what we owe..not negotiable on any conditions! Pollsters only ask people do you approve or not a raise of the debt ceiling but the people do not understand what it means...Americans  have been duped with the Republican Myth.. 

 

Bernanke: absence of a deal would not stop the nation's debt from climbing.HAS TO BE PAID at higher interest http://huff.to/m4oAVw

Continuing to put the government on hostage taking strategies
to do this or that else we don't do what is essential
is again Republican arrogance. Legislation should be passed regarding essential
government responsibilities unconditionally!

Trying to implement Social Re-engineering as Newt recently claimed accurately should not be done in aspects of governing that are essential. Changing things with a "Machete" is not right. There are millions of citizens who would be affected by this type of arrogance.

Fact is that if the same people when asked about cutting essential services dear to them then they overwhelmingly reject it...the ambivalence on these results leaves a lot to be desired.

The Midterm Election in 2010 meant people needed jobs...and were misinformed about why the Obama administration had to put in force spending that would stop the recession, they were scared of this emergency spending not understanding it in great part because the administration and democrats failed to present the themes correctly. So they fall easily for the Republican myth mentioned above.

However today the environment has changed and there is voter remorse all over regarding Republicans. Hope Democrats and the President can take a firm stance against Republican Hostage taking and respond in kind and with the same energy to prevent them from destroying our nation.

Furthermore Conservatives are ideologically geared to follow Regan's strategy of "starving the beast" NorQuest obsession with reducing the government to nothing (the libertarian view) and AynRand ideology of the "virtue of selfishness" and that any attempt to promote (enhance) the general welfare and provide for "domestic tranquility" thru the government social programs is unconstitutional... this mistaken conservative world view has to be fought against for it will destroy all of us..because of these ideological thugs we have a Revenue Problem now more than a Deficit Problem

Effects of not raising the Debt Ceiling by Congressional Research Service
http://www.fas.org/sgp/crs/misc/R41633.pdf

 

 

Comments

[Mahilena]

@lizzwinstead DeMint: "We won't default if we don't raise debtceiling" // It's a liberal hoax like climate change! #GOP #WhatAreTheyOn?
Demint and conservatives are pushing it big time they do not care if they destroy America...and they call themselves Patriots!

[Mahilena]

Patriotic Millionaires: “Increase our taxes NOW!” http://t.co/dbRU057

[Mahilena]

Republicans Commit Political Extortion With Debt Ceiling Vote http://t.co/G4MiBfj

[Mahilena]

Poll: Growing Number Of Americans Support Raising Federal Debt Ceiling: http://t.co/Gx6EJxM