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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
Norm L. from South Beloit, IL signed.
Jan 10th, 2013
Amanda L. from Port Charlotte, FL signed.
Jan 10th, 2013
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Jan 10th, 2013
Sam B. from Sarasota, FL signed.
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Bob G. from Wakarusa, IN signed.
Jan 10th, 2013
Someone from Lafayette, LA signed.
Jan 10th, 2013
Jacob S. from Vermillion, SD signed.
Jan 10th, 2013
Someone from Naples, FL writes:
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enough is enough----get rid of all of them....why doesn't anyone stop this madness? This is a disgrace..from the President (who has an evil agenda) to Congress and the Senate. This is Pre-K. Where are the Leaders? the Statesmen? God help America
Jan 10th, 2013
Someone from Hubertus, WI signed.
Jan 10th, 2013
Floyd R. from Marion, OH signed.
Jan 10th, 2013
Diane S. from West Covina, CA writes:
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This Administration is getting more crazy. It's got to stop.
Jan 10th, 2013
Vivian R. from Marion, OH signed.
Jan 10th, 2013
Dennis A. from Waycross, GA signed.
Jan 10th, 2013
Tommy P. from South Gate, CA signed.
Jan 10th, 2013
Edgar R. from Sheboygan Falls, WI signed.
Jan 10th, 2013
Dorothy T. from Conway, AR signed.
Jan 10th, 2013
Kerry S. from Fort Lauderdale, FL signed.
Jan 10th, 2013
Matt M. from Valdosta, GA signed.
Jan 10th, 2013
Tracey G. from Houston, TX writes:
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Stop the spending!!!
Jan 10th, 2013
Elaine H. from Sparta, NJ writes:
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Have any member of Congress or the Senate EVER read a history book?? The past 4 years have proven they have no idea about Budgets101..you do not get ahead by spending more than you make!
Jan 10th, 2013
DANA H. from Jupiter, FL signed.
Jan 10th, 2013
Ron B. from Versailles, MO signed.
Jan 10th, 2013
Judy O. from Breckenridge, TX signed.
Jan 10th, 2013
Robert F. from Waterford, MI signed.
Jan 10th, 2013
David H. from Mason, TN signed.
Jan 10th, 2013
Someone from Glendale, AZ signed.
Jan 10th, 2013
Ray C. from San Diego, CA writes:
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And the stupid sheep continue to follow their leader over the cliff!
Jan 10th, 2013
Nicole C. from Homestead, FL signed.
Jan 10th, 2013
Nicole C. from Homestead, FL signed.
Jan 10th, 2013
Heather S. from Pittsburgh, PA signed.
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Lou C. from Kalamazoo, MI signed.
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James and Mary B. from Whitewater, WI signed.
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Someone from Westlake, OH signed.
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linda o. from Carnegie, PA signed.
Jan 10th, 2013
Jane K. from Southern Pines, NC signed.
Jan 10th, 2013
Greg G. from Dallas, TX signed.
Jan 10th, 2013
Eric M. from Longview, TX writes:
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This is a disgrace. If they think that this will solve our problems then they are a bigger joke than i thought.
Jan 10th, 2013
Fred and Judith K. from Silsbee, TX signed.
Jan 10th, 2013
dan booher b. from Reed City, MI writes:
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how can any amarican patriot be apart of such nonsense . im looking for a good assault rifle know any one who might sell theres.
Jan 10th, 2013
Keith S. from Irvine, CA signed.