It has come to Secret Squirrel’s attention, that there has been a rather intriguing and interesting solution proposed to solving the great American debt crisis.Indeed it has been revealed, that there is another course of action, other than simply printing up Treasury Certificates for a required sum, presenting those to the Treasury Department, which takes said stated certificates, places them away, and then prints up and provides the stated sum the certificates are for, in short an
i.o.u. to oneself,one’s own nation, which,never gets paid off,really in point of fact.

A legal loophole allows the U.S. Treasury to mint platinum coins in whatever denomination it chooses – even $1 trillion.Speaking to the BBC’s Today
program, Mr Roche, founder of Orcam Financial Group and blogger at Pragmatic Capitalism, said the idea was being taken “somewhat seriously” in Washington.”I know it’s been spoken about at the White House and a number of prominent people, including congressman, are talking about it,” he said.
Mr Roche said the idea was an “accounting gimmick”, but noted it was just “one really silly idea being used to fight another silly idea”.

“The idea of the US willingly defaulting on debt is beyond crazy,” he said.”We started kicking the idea around a year ago and it was really a joke and the fact it’s become something sort of serious, well it’s a sad state of affairs that it’s become so dysfunctional in Congress that this is something we’re having to resort to.”

Writing in his New York Times blog, economist Paul Krugman, said that while he did not expect the Treasury to go ahead with this “gimmick”, there could be a case for it.”This is all a gimmick — but since the debt ceiling itself is crazy, allowing Congress to tell the president to spend money then tell him that he can’t raise the money he’s supposed to spend, there’s a pretty good case for using whatever gimmicks come to hand,” he said.

To mint or not to mint,that is question,will they mint or won’t they mint is another question.U.S. Treasury Secretary Timothy Geithner has the authority to mint platinum coins in the denomination of his choosing, and experts have said the
idea is being taken seriously in Washington.Treasury Secretary Tim Geithner (left with President Obama in Oct. 2010) could mint a $1 trillion coin,said to be pondered to be an actual 1 ounce Platinum coin,which would in actual fact be valued in
it’s metal content at about $1,600 thereabout roundabouts. And, of course, intrinsicly valued at it’s stamped value of 1 Trillion Dollars. We won’t consider here that in ancient times, a coin’s value was appraised upwards if and due to a very
fine etched stamping or whatever was done to manufacture it.A White House petition advocating for the coin has garnered more than 5,000 supporters.Minting such high-value coins to pay the government’s bills would allow President Obama to
sidestep a showdown with Republicans over the federal debt ceiling.The proposal would involve the Treasury minting the coin and depositing it into its own account at the Federal Reserve, allowing the government to write down or cancel $1 trillion
of its $16.4 trillion debt.On the other hand, stamping say 17 or so would result in going past the zero debt level to a surplus!!The mind boggles here pondering yet greater numbers of these coins.Ever to poop a party, however,Rep. Greg Walden (R-Ore.) said on Monday he will introduce a bill to prevent that maneuver.Walden, it turns out, has written legislation that would bar the executive branch from minting coins of any denomination. That would include the much-talked-about trillion dollar coin.Walden stated,“My wife and I have owned and operated a small business since 1986.

When it came time to pay the bills, we couldn’t just mint a coin to create more money out of thin air,” Walden said.Clearly there is much personal jealousy in his words,directed at the government of the people of America deligently trying to clear the national debt problem.BUT……take careful note, that by introducing legislation to ban such a maneuver, Walden is implicitly acknowledging that under current law, the trillion dollar coin is a perfectly legal and workable way to get
around the debt limit,and also as such, the actual entire national debt problem.Interesting an actual solution to America’s national debt and there are politicians willing not to allow it,clearly these aren’t lads to invite to your parties, nor to allow to use your toilet,by no means.So there you have it, a debt solution for all seasons, a debt solution for all the right reasons. However,you know and I know, politicians being what they are….they’ll then spend all their time for the
next century arguing over what designs should be stamped on the coin.

Secret Squirrel,
MRL,MP(Dunny On The Wold),
Minister For Re-Deranged Re-Engineering.