Home > American Society, politics > The Federal Reserve Has FULL Authority Over Our Government ($1 Trillion Dollar Coin)

The Federal Reserve Has FULL Authority Over Our Government ($1 Trillion Dollar Coin)

Like it or not, the $1 Trillion dollar coin was a US government concept. You don’t have to agree with the concept to realize the horror of what has happened since they came up with the idea.

The idea was that the government was allowed to mint any “non gold or silver coin”. So they wanted to mint a $1 trillion dollar coin, much like the $100 platinum coin above. Its a law.

According to Section (k) of 31 USC § 5112, the United States Secretary of the Treasury “may mint and issue platinum bullion coins and proof platinum coins in accordance with such specifications, designs, varieties, quantities, denominations, and inscriptions as the Secretary, in the Secretary’s discretion, may prescribe from time to time.”

Fox news reported the insanity behind our law makers past decisions: Republicans happily raised the debt ceiling 18 times when Ronald Reagan was president and 19 times when George W. Bush was president. And, by the way, not one time did they demand spending cuts to go along with the debt increase. Ronald Reagan tripled our national debt. George W. Bush doubled it. Both times, lots of the debt was for military spending and tax cuts that the GOP enthusiastically embraced, price tag and all. Fox news then stated “hey lets mint it”.

Yes, this is all crazy….but this is the type of craziness that is repairable. The kind of craziness that is NOT repairable is the insanity of giving all the power of our financial might to a hand full of bankers. The Federal Reserve.

“Neither the Treasury Department nor the Federal Reserve believes that the law can or should be used to facilitate the production of platinum coins for the purpose of avoiding an increase in the debt limit,” Anthony Coley, a spokesman for the Treasury Department, said in a statement to POLITICO. The Washington Post’s Ezra Klein first reported the news.

The Treasury Department will not mint a trillion-dollar platinum coin to get around the debt ceiling. If they did, the Federal Reserve would not accept it.

This is the Federal Reserve DICTATING to the lawmakers of America, the choices on financial policy. This is a small group of bankers telling the Congress of the United States that they are a HIGHER POWER.

It doesn’t matter that the White House and President Obama have ruled out the $1 trillion dollar coin option.
All that matters is that this is definitive proof that we are no longer a democracy. We are a body of elected representatives who have no authority over our currency. All the power of the US Dollar rests with the Federal Reserve Bankers.

Wake up and smell the dead roses. When the Federal Reserve stands up and tells Congress “you can’t do that”, you know that our country is not in our hands anymore.

Lastly, let me repeat…..I never liked the idea of a trillion dollar coin. I am constantly surprised at the stupidity of Congress. But they are my elected officials. The Federal Reserve IS NOT!

Itia Abroad

  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: