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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 11th, 2013
Someone from Fort Worth, TX signed.
Jan 11th, 2013
Ken G. from East Alton, IL signed.
Jan 11th, 2013
Steven B. from Republic, MO signed.
Jan 11th, 2013
Jim G. from Eureka Springs, AR writes:
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We must stop "King Obama" NOW! Don't vote for ANY political candidate that will not endorse & push for term limits. That includes federal & state offices!!!
Jan 11th, 2013
Richard M. from Donald, OR writes:
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B.O. STINKS
Jan 11th, 2013
Someone from Florissant, MO writes:
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Is Obama trying to be a dictator? This coin is to have his picture on it? Get bust you lazy bums!
Jan 11th, 2013
Kristin S. from Derby, KS signed.
Jan 11th, 2013
Mary S. from Saint Louis, MO signed.
Jan 11th, 2013
Someone from Washington, DC signed.
Jan 11th, 2013
Catherine C. from Grove City, OH writes:
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As a citizen of the U.S., I expect to do my part to pay our collective debt and help balance our budget. I know it won't be easy- doing the right thing never is...
Jan 11th, 2013
Robert P. from Tillamook, OR signed.
Jan 11th, 2013
Martin W. from Royal Oak, MI signed.
Jan 11th, 2013
Someone from Prescott Valley, AZ writes:
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President Obama is not acting like a president, he is acting like a dictator! Seems like everything comes in cycles; Obama is just another " Hitler" come 'round again!!
Jan 11th, 2013
Michael D. from South Portland, ME signed.
Jan 11th, 2013
Hugo R. from Hersey, MI signed.
Jan 11th, 2013
Someone from Chicago, IL writes:
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"When the people fear their government, there is tyranny; when the government fears the people, there is liberty" Thomas Jefferson
Jan 11th, 2013
Someone from Chicago, IL writes:
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"When the people fear their government, there is tyranny; when the government fears the people, there is liberty" Thomas Jefferson
Jan 11th, 2013
A. U. from Chicago, IL writes:
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"When the people fear their government, there is tyranny; when the government fears the people, there is liberty" Thomas Jefferson
Jan 11th, 2013
Someone from Williamsburg, VA signed.
Jan 11th, 2013
Earl W. from Houston, TX signed.
Jan 11th, 2013
Aileen B. from East Berlin, PA signed.
Jan 11th, 2013
Christopher B. from Largo, FL signed.
Jan 11th, 2013
Lois R. from Denver, CO signed.
Jan 11th, 2013
Someone from Winslow, AR signed.
Jan 11th, 2013
Someone from Thompson, PA signed.
Jan 11th, 2013
PAMELA L. from Graham, TX writes:
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Stop the ridiculous spending and then you won't have to come up with ridiculous schemes like this to fund it.
Jan 11th, 2013
wesley o. from Sanford, ME writes:
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democrats, forget your idealology, and start serving the people. WAKE UP
Jan 11th, 2013
Someone from Flemington, MO signed.
Jan 11th, 2013
Simon W. from Bayonne, NJ writes:
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Government of The PEOPLE, Not Obama's Government.
Jan 11th, 2013
Someone from Belleview, FL writes:
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Impeach Obama
Jan 11th, 2013
Gailand C. from Independence, MO signed.
Jan 11th, 2013
Dale B. from Sioux City, IA signed.
Jan 11th, 2013
Debbie J. from Eddy, TX signed.
Jan 11th, 2013
Vincent V. from Hayward, CA writes:
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Stop the madness and cut government spending now!!
Jan 11th, 2013
William S. from Stoystown, PA signed.
Jan 11th, 2013
Christine C. O. from Winter Haven, FL signed.
Jan 11th, 2013
Lauretta D. from Pharr, TX signed.
Jan 11th, 2013
Christine C. O. from Winter Haven, FL writes:
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Quit insisting on being our MASTER. You are our Servant as President!
Jan 11th, 2013
wilma d. from Cable, OH writes:
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Can congress please get some intestinal fortitude and do something about the shenanigans of this President(?) before it is to late. He is walking all over our constitution and leaving bloody footprints. Come on ,Congress,M=meet the challenge!
Jan 11th, 2013
Ferris L. from Hudson, FL writes:
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cut government and more freedom please',