Tag Archives: trillion dollar platinum coin

Wall Street Bankers Want More US Debt and Dread Pirate Roberts Is Jailed

Wall Street CEOs meet with Obama, warn of harm from debt-limit battle as Goldman Sachs banking crook, Lloyd Blankfein met with Obama right on the heels of his close buddy, Netanyahu.  This is due to a possible Federal default looming in the near future.

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Desperate Fed Reserve Copies Bank of Japan While US Pundits Still Think The US Is Strong

The Federal Reserve has completely changed its formative activities since the banking collapse. It is now the capital holding tank for international speculators and banks.  That is, it works not for us but for them all. The Fed is also hiding the dire condition of our government by openly ‘buying’ US government debt instead of selling it all to China and Japan.  This means our trade deficit which was floated on US government debt bonds bought with profits from mostly one way trade with the US is no longer happening.  This is a serious, serious hole in our fiscal bucket, by the way, now that both the government of Japan and China are using US trade dollars to buy up world resources with loans from their own central banks to help this along. Continue reading

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Inflation Keynesian Krugman Wants Us To Imitate Japan’s LDP Wild Spending

Die, stupid yen

Treasury Won’t Mint Platinum Coin to Avoid Debt Ceiling because it was insane in the first place.  The truth of the matter is simple: if you are going to have a coup, do it.  If the President is unable to run the country due to Southerners, mainly, refusing to pass budgets, we either have a coup or we stop our wars suddenly and totally.  It is pretty simple.  But AIPAC wants the wars to continue and the rich want their tax cuts no matter what while the politicians use the excuse, ‘We have no money!’ to cut social services, the wars rage onwards, Pentagon spending continues to shoot upwards and the trade deficit continues to be ignored and our banking system with no capital continues to lend money they don’t really have…Krugman wants to fix this by imitating Japan.  And frankly, the GOP wants this, too.

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A Million Trillion Dollar Coins Can’t Stop Hyperinflation Or Government Bankrutpcy

The Achilles Heel of all empires is when they go to many endless, often religious ideological wars, they go bankrupt.  To paper over this, they debase the coinage and when that fails, they sell off all their assets and use up all their sovereign wealth and if that isn’t enough, they then go into debt to foreign rivals and then finally go bankrupt after a bout of hyperinflation.  The US is aping  Spanish Bankruptcy when the Spanish government managed by the Duke of Lerma was forced to declare a moratorium on its debts on November 19th, 1607.

When Philip III became King of Spain and Portugal in 1598, Spanish commentators were complaining that instead of being used to stimulate industry and business, the treasure from the Americas had created an attitude that held productive work in contempt, while foreigners – Genoese, Dutch, Germans – ran Spain’s trade and finance to their own profit.

The commentators wanted to see royal expenditure drastically reduced, the tax system reformed to bear more heavily on the rich, the growth of the Church checked and the improvement of industry and transport. Continue reading

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