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StopTheCoin.com: Stop the Trillion Dollar Coin!

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UPDATE: 1/12/2013 We did it! We stopped the coin! "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," said Treasury spokesman Anthony Coley.

It sounds like a joke. It should be a joke. But it is real: Liberal pundits and Democratic members of Congress are urging President Obama to mint trillion-dollar platinum coins to fund continued government spending above the federal debt ceiling.

Joe Firestone, the blogger who first proposed the idea, is now calling for a $60 TRILLION platinum coin to be minted.  That would mean completely eliminating all bond-market discipline on federal spending and effectively eliminating the debt ceiling without the approval of Congress.

Former CBO Director Douglas Holtz-Eakin has explained: "Financial markets viewing this clumsy subterfuge would quickly come to the correct conclusion: a country so unable to manage its finances that it resorts to issuing the [coin] is essentially the same as a country so unable to manage its finances that it breaches the debt ceiling. Confidence in the U.S. would plummet, leading to a spike in interest rates and unthinkable economic pain."

The coin trick is also probably illegal. Edmund Moy, a former director of the U.S. Mint who served under Bush and Obama, has argued that by statute the platinum coin would be worth only its precious metal weight, not its face value. "It may be legal to mint a platinum bullion coin with a $1 trillion face value," Moy wrote, "but it's not legal to pass it off as actually worth $1 trillion if there isn't $1 trillion of platinum in it."

But it is unclear who might have standing to legally challenge the scheme, and it has somehow seemed to have passed the laugh test and entered the realm of political feasibility. Fortunately, Congressman Greg Walden of Oregon has introduced a bill to close the loophole and BAN the platinum coin trick.

Please sign on below to tell your Member of Congress and Senators: "Ban the platinum coin trick now and get serious about cutting spending."

Public Comments
Jan 10th, 2013
Bradley C. from Cullman, AL signed.
Jan 10th, 2013
D H. from Tallahassee, FL signed.
Jan 10th, 2013
Bob G. from Crown Point, IN writes:
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Please cut welfare!!!!
Jan 10th, 2013
Loyd M. from Fairbanks, AK signed.
Jan 10th, 2013
Douglas O. from Greencastle, PA writes:
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I am absolutely FURIOUS you are killing America by spending us into the toilet! STOP SPENDING. I bled for this Nation. All you can do is suck at the public teat. You're a leech!
Jan 10th, 2013
Paul G. from Springfield, MA signed.
Jan 10th, 2013
Carol H. from Bad Axe, MI signed.
Jan 10th, 2013
Julie S. from Riverside, RI writes:
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Stop playing games and act like grown men who care!
Jan 10th, 2013
Clinton C. from Ponce De Leon, FL signed.
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Larry M. from Florence, AL signed.
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Someone from Tunnelton, WV signed.
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Genevieve J. from Pittsford, NY signed.
Jan 10th, 2013
Steve B. from Plymouth, IN signed.
Jan 10th, 2013
Dorcas W. from Terrell, TX writes:
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Everyone else has to live within their means our government should do so.
Jan 10th, 2013
Richard B. from Valparaiso, IN signed.
Jan 10th, 2013
Someone from Cabot, AR signed.
Jan 10th, 2013
William P. from Burlington, NC writes:
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Obama and congress have gone completely madd, but they all will have to stand before God one day.
Jan 10th, 2013
Someone from Salt Lake City, UT signed.
Jan 10th, 2013
Mitchell S. from Berryville, AR signed.
Jan 10th, 2013
Paul G. from Hanford, CA writes:
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When bigger and better idiots are born they will be politicians.
Jan 10th, 2013
Someone from Fort Collins, CO signed.
Jan 10th, 2013
Donald B. H. from New Lenox, IL signed.
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Michael N. from Englewood, FL signed.
Jan 10th, 2013
monica s. from Saint James, MN signed.
Jan 10th, 2013
Someone from Catoosa, OK writes:
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Stop the wasteful spending. Hollywood and Nascar for a start. Someone needs to gain some common sense and I don't necessarily think it is our Ok reps. If so, stand up for what is RIGHT.
Jan 10th, 2013
Someone from Elgin, IL signed.
Jan 10th, 2013
Lloyd P. from Sikeston, MO signed.
Jan 10th, 2013
Someone from Elgin, IL signed.
Jan 10th, 2013
Sheila S. from Troutville, VA writes:
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STOP FOREIGN AID to our enemies and let them hate us for FREE!!!!!!
Jan 10th, 2013
Amanda M. from Aurora, CO writes:
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This madness has to stop! If you can't get this government under control then you are not the right representative of the People.
Jan 10th, 2013
vivian h. from Beckley, WV signed.
Jan 10th, 2013
Someone from Hampshire, IL writes:
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Stop spending on ALL NEW PROGRAMS. Cut ALL foreign aid spending & overnment subsities. BEGINNING NOW!
Jan 10th, 2013
JENEVE P. from Oxford, PA signed.
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Douglas H. from Milner, GA signed.
Jan 10th, 2013
Someone from Newark, OH signed.
Jan 10th, 2013
Ted M. from Everett, WA writes:
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Enough is enough, lets start cutting spending
Jan 10th, 2013
Evanan C. from Sugar Land, TX signed.