Here is another article everyone might want to read:  http://seekingalpha.com/article/1054491-the-trillion-dollar-coin-idea-beyond-stupid

The latest Idea is for the Treasury to issue a 1 trillion dollar coin and send it over to the Fed, who will fund the accounts of the Federal Government.  While this most surely leads to currency destruction, it is a massive EASY button for both political parties.  While balancing the budget is the only way to avert catastrophe, the one time libertarian presidential candidate and documentary maker Bill Still has advocated this kind of approach for years now.  While it does not take the power to print money from the Fed as he would, it does return the ability to coin money to the people without interest attached.

1. It provides an exit strategy for the federal reserve bank's ownership of bonds without raising interest rates/yeilds/collapse of bond values.
2. They would not have to raise taxes (but they will anyway because they want what you have)
3. They would not have to cut spending
4. They would not have to raise the debt limit
5. The national debt could be paid with 16 coins
6. you could eliminate all interest payments the government makes.

7. and oh yeah...we will end up like the weimar republic- Nazi germany, or Bolshevik-Soviet union when the currency collapses.

However if the Treasury pays off the central bank with these coins to eliminate interest payments to bankers and THEN balance the national budget...... 


Currency crisis is the alternative to massive deflation and bankruptcy of the elites but only is a sure thing if the budget doesn't get balanced.   Iceland stands alone in their treatment of the bankers and dealing with the problem and now they are on the mend.