http://www.nytimes.com/2013/01/10/opinion/an-escape-hatch-for-the-debt-ceiling.html

The Secretary of the Treasury could issue “registered warrants” – scrip – like California did. (or maybe notices instead of direct deposits could be issued and banks could be encouraged to credit them – if banks loaned money to customers at 0% and ntot the government, it wouldn’t add to the debt.

Another idea I’ve seen mentioned is consuls – perpetual bonds, paying only interest. Since they have no face value, they don’t add to the debt. Only the interest, when due, adds to the debt.

Correction: The other article I mentioned in comment number 29 was also on January 10 – I said Jan 9 by mistake)

http://moslereconomics.com/2010/05/14/marshalls-latest/#comment-20736

Thread 45.

beowulf Reply:
May 23rd, 2010 at 5:03 pm

Option 5.

…Congress could…
5. Authorize the US Mint to stamp $1 billion or even $1 trillion coins. Geithner could hand-deliver them to the Federal Reserve Building as needed. )

At May 24th, 2010 at 8:29 pm, beowulf adds in a Reply that this is already legal.

…Curiously enough Congress has already delegated to Tsy all the seignorage power authority it needs to mint a $1 trillion coin (even numismatic coins are legal tender at their face value and must be accepted by the Federal Reserve)– the catch is, its gotta be made of platinum…

http://taxvox.taxpolicycenter.org/2013/01/08/is-the-trillion-dollar-platinum-coin-clever-or-insane/

http://www.interfluidity.com/v2/3630.html

http://money.cnn.com/2013/01/09/news/economy/platinum-coin-debt-ceiling/

One was kind of like a whimsical survey:

http://www.nytimes.com/2013/01/10/business/a-trillion-dollar-coin-brings-a-jackpot-of-jests.html

It mentions Carney:

There is no Plan B, there is no backup plan. There is Congress’s responsibility to pay the bills of the United States,” said Jay Carney, the White House press secretary, who responded to a dozen questions about the trillion-dollar coin at a news conference. “I have no coins in my pocket,” he later added.

But Mr. Carney did not rule the idea out explicitly, deferring later questions to the Treasury Department.

That has left a few supporters hoping that in one of his last acts in office, Treasury Secretary Timothy F. Geithner might trot out a shiny platinum coin emblazoned with “In God We Trust” and a 1 with 12 zeros behind it.

I think such coins would obviously have to be numbered, and have a QR code and a website on it which somebody could look up to see whether or not the coin had been made into money. Coins don’t become money when they are stuck. Something else has to happen.

And if it was stolen, the Secretary of the Treasury would just demonitize it and replace it with another one. I think maybe you could do that. I don’t think any bank would just ignore that and take the coin.

Anyway, it would probably stay in the vault of the Federal Reserve Bank of New York, 80 feet below 33 Liberty Street.

http://abcnews.go.com/Business/story?id=5835433&page=1

There’s more gold there than at Fort Knox. Almost all of it belongs to other countries. When one country transfers gold to another they move it from one place to another for a fee of $1.75 for each 28 pound gold bar (28 pounds = 448 ounces = about half a millon Dollars or so. There’s around $200 billion there)

So, when I take my billion dollar platinum coin into the grocery store, what happens if they can’t make change?

They just give you an IOU for 999 billion dollars, silly. That way you both are a trillion dollars richer!

Has anyone seen the Beavis and Butthead episode called ‘Candy Sale’? They keep buying eachother’s school sale candy bars by lending eachother the same two dollars. It seemingly works just fine as they deplete their candy. I think that’s what America is doing lately.

I always knew Barack Hussein Obama was a half-orc!