-->

Conservative Daily News - The best news, analysis and opinion articles written by a collection of citizen journalists. Covering a range of important topics in blogs, op-ed, and news posts, these upstanding patriots are bringing back American exceptionalism with every entry..

White House Won’t Rule Out Trillion Dollar Obama Coins to Cover National Debt

In an epic bit of video, conservatives get a glimpse of what they are up against: people who believe that it is even conceivable to mint trillion dollar Obama coins to render debts settled. After all, this is pretty close to what the government does with paper money, which are just state-issued permission slips to trade debts.

But what would happen if the Obama team did just that? People would lose more confidence in the U.S. government around the world, since the dollar would be in danger of  cheapening to the point of uselessness and the debt securities that governments hold would be paid back in extremely inflated dollars.

What next? Let me tell you what next. The dollar that people in the United States use as a symbol of trust that debts for goods and services, labor really, would be paid back would fall to pieces. When that happens, the currency that allows people who don’t know one another to trade with each other will be rendered too untrustworthy and the nation’s economic system will be pulled apart by the seams.

The nation itself would then be in danger of crumbling, as people’s diverse economic interests would send them in multiple directions, as they would be loathe to cooperate with others whom they don’t know and trust.

So next time, Jay Carney, that someone asks you if the Obama administration is seriously contemplating minting trillion dollar coins backing the likeness of our American caesar, just do us a favor and allay the market uncertainty — just say no.

H/T Independent Journal Review

Post to Twitter Post to Facebook Post to Reddit Post to Technorati

Conservative Daily News allows a great deal of latitude in the topics contributors choose and their approaches to the content. This is due to our approach that citizens have a voice, not only the mass media. Readers will likely not agree with every contributor or every post, but find reasons to think about the topic and respond with comments. We value differing opinions as well as those that agree. Opinions of contributors are their own and do not necessarily reflect those of CDN, Anomalous Media or staff. Click here if you'd like to write for CDN.
Put This Story in your Circles and Share with your Friends

Tags: , , , , , , ,

Comments (0)

Trackback URL | Comments RSS Feed

Comments are closed.