Great news! The Obama administration has created a website “We the People” to allow people to petition the government for anything they might want. So one clever and thoughtful person has crafted a petition to:
Direct the United States Mint to make a single platinum trillion dollar coin to pay off the national debt!
The petition reads: “With the creation and Treasury deposit of a new platinum coin with a value of $1 trillion US Dollars, we would avert the absurd-yet-imminent debt ceiling faceoff in Congress in two quick and simple steps! While this may seem like an unnecessarily extreme measure, it is no more absurd than playing political football with the US—and global—economy at stake.”
The national debt of the US is created because the government foolishly borrows its money from the privately-owned Federal Reserve Bank. There is no reason why the government cannot print its own money, and many reasons why it should. This insanity has been explained in two very good books: Creature from Jekyll Island by G. Edward Griffith, and The Web of Debt by Ellen Brown. The idea of paying off the debt by minting a single coin of a nominal value equal to the debt was put forth by Ellen Brown in her book. It is quite legal and in keeping with the constitution of the United States which gives Congress the authority to “coin money and regulate the value thereof.”
We use coins of nominal value every day since the 1960’s. Up to that time all coins were made of silver, nickel or copper. Most of today’s coins however, are clad metal, and simply by looking at the edge of a quarter, for example, one can see the base metal. Although the coin does not have the commercial value of 25 cents, it has a nominal value of 25 cents. Why? Because the mint says so. In the same way that the mint creates coins of a 25 cent nominal value it can also create a coin of a $1 trillion nominal value, and use that coin to pay off the national debt.
Now, you may ask, why should we do that? Isn’t that unfair to the creditors?
Well, no it isn’t, because in fact those “creditors” have actually loaned nothing of value to the United States, as explained by both Griffin and Brown. However, the Federal Reserve Bank, a private corporation, has been given the prerogative by our government to create money out of thin air! They then loan that money to the government at interest, and it is this interest that constitutes most of the federal debt. Griffin and Brown explain this in exacting detail, and you can read about it, or find videos about that elsewhere on this website.
We can all help to put an end to this ruse, and end this spurious debt by returning to the Federal Reserve exactly what they have given to us—nothing! This can be done by creating a $1 Trillion coin (or several if need be), and it needn’t be made from valuable platinum. We should make it from wood—walnut, or teak would be nice—as a commemorative coin that would grant 300+ million people economic freedom!
Below is a short video of G. Edward Griffin giving a brief explanation of the ruse of the Federal Reserve Bank. If this wets your appetite to know more, an in-depth presentation by Griffin can be found here. You can purchase Griffin’s book here, and Brown’s book here.
You can sign the petition to pay off the debt with the creation of a $1 trillion coin here.
Help eliminate the national debt by signing this petition! Get your friends to sign it too, and let’s get this monkey off of our backs!