U.S. Treasury rejects SEC platinum coin "trillion dollars"

[yota691]

U.S. Treasury rejects SEC platinum coin "trillion dollars"

Experts considered the idea of "magic" to avoid the country raise the debt ceiling impasse

Sunday 01 March 1434 e - January 13, 2013

U.S. Treasury

Washington - AFP

Confirmed the U.S. Treasury Department that it totally rejects the use of "magic solution" one under community money in abundance and is based on the SEC's currency cash and one worth a thousand billion dollars, to spare the country dilemma inability to raise the debt ceiling because of the failure of the Congress to agreement on it. said ministry spokesman Anthony Cooley said in a statement, "The Treasury Department is, like the Federal Reserve, that the law can not or should not be used to facilitate the SEC platinum coins to avoid raising the legal upper limit of public debt."

During the recent crisis similar in spring 2011, while public debt reached its highest level permitted by law, and wait for Congress until the last minute to raise this ceiling, deliberated among money this idea "magic" that have returned to the fore with the renewed crisis. and since December 31, became U.S. public debt higher from the ceiling permitted by law, which is 16 thousand and 396 billion dollars, but the money currently available to the federal state to enable them to continue spending until the last days of the month of February, and after that date become the United States is threatened by the specter of default if not lifted Congress ceiling legal debt year. asked the Treasury Department formally Congress raise the ceiling legal religion, but the Republicans who control the House of Representatives refused to approve this unless coupled with an agreement to cuts in public expenditure. This is based on the idea magic mint coin these immense value to the ability of the Treasury Stamping currencies platinum souvenirs, without there being any ceiling for the value of these commemorative coins. hence can Ministry minted coins and one worth a thousand billion dollars and deposited the Federal Reserve (central bank) and against which they can issue treasury bonds with the same value. based this maneuver to the fact that Stamping currency is not subject to the legal ceiling, contrary to what it is if the public debt. http://www.alarabiya.net/articles/2013/01/13/260175.html

[tommy17]

This is for all the members who said there was no such thing.

[R2d2dc]

Strange that the writer has so many Errors. Where did this "article" come from?

r2

[yota691]

Washington rejects minted coins thousand billion dollars!

Washington - AFP

Monday, January 14, 2013

Confirmed and the U.S. Treasury's refusal to resort to 'magic bullet', one under among much money, and is based on a monetary and currency worth one thousand billion dollars, to avoid trouble inability to raise the debt ceiling for the failure of the Congress to the agreement would.

The ministry spokesman Anthony Cooley, that the Treasury «considered, like the Federal Reserve Board, that the law« can not be used to facilitate the SEC platinum coins to avoid raising the legal upper limit of public debt.

The it is not the first time that trading where among money this idea «magical», as put forward in the recent crisis similar in the spring of 2011, when the public debt reached its highest level permitted by law, and wait for Congress until the last minute to raise the ceiling, and returned to the fore with renewed crisis. And U.S. Pat public debt since December 31 (December) last year, higher than the ceiling permitted by law, which is $ 16.396 trillion. But the funds currently available to the federal state, enabling them to keep on spending until the last days of February next. And become the United States after this date, threatened by the specter of default on repayment, unless Congress raises the legal ceiling for public debt.

The Treasury Department asked Congress formally raise the legal debt ceiling, but Republicans refuse to agree to this, unless accompanied by an agreement on cuts in public expenditure.

This idea is based on mint coin worth huge, to the ability of the Treasury on the SEC platinum coins as souvenirs, without there being any cap on the value of these currencies. Hence, the ministry minted coins worth one thousand billion dollars and deposited in the Central Bank, treasury bonds can be issued at the same value. This maneuver is based to the reality is that the SEC is not subject to currency ceiling legal, contrary to what it is if the public debt.

http://alhayat.com/Details/472225

[SnowGlobe7]

wait...magic will not fix the problem?

[yota691]

wait...magic will not fix the problem?

Its been Magic for quite sometime..wouldn't you agree..

[SnowGlobe7]

yes...yes I would