Money is Debt - when you accept paper or electronic money in exchange for your work you are a debtor of the USA (or Your Country and Currency here) for every currency unit you hold... All currencies say "Legal Tender for all debts public and private" to some degree - the paper or electronic variants of money is a promise to pay the bearer $1 etc by the USA (Issuing government) as accepted currency for trade (To buy lunch or a car or a home or a vacation etc etc).
So the idea of reducing the debt and balancing the budget is tantamount to reducing the amount of money and economic activity in an economy - the USA and world went off the gold standard decades ago and now the world economy is a Free Currency Market where by the majority of currencies are allowed to float in relative value against each other - opening up arbitrage opps - except for China which pegs its cash surplus export heavy powerful currency to the USA dollar and eventually will see its workers revolt over the declining value of their Yuan/Renminbi purchasing power (Note the many regional revolts already in China over slave wages and the multiple empty Chinese Cities where the average worker is not allowed to live because they do not earn enough to buy the new empty housing units).
Point is Money is Debt and the National Debt is the amount of Money in circulation - should be called the National Wealth.
The Trillion Dollar Platinum Coin has merit because it forces the "Debt Hawks" who merely want to increase the gap between the 99.9% and top 0.1% to get real and understand Modern Monetary Theory and modern electronic money currency systems backed by the full faith and credit and earning and innovation power of each Monetarily Sovereign Nation - look at the BRICS ALL monetarily Sovereign and All creating great wealth and prosperity versus the EU collapsing under incredibly incompetent austerity measures.
http://neweconomicperspectives.org/p/mod...rimer.html
http://mythfighter.com/2013/01/04/the-re...-solution/
The Trillion Dollar Platinum Coin is useful if for no other reason the USA Mint could Mint 10,000 one ounce One Trillion Dollar Platinum coins and hold them in reserve at Fort Knox and when the Debt Hawks use their Thors Hammer of Debt to squash USA Economic Prosperity the Treasury can Just transfer a few coins or pay off any ones debt - 4 coins No More Chinese Debt - and add a few extra sets of zeros to their accounts and 120 coins USA "Debt" Now Balanced and we can focus on rebuilding and reinvesting without going into debt because we still have 9,880 Platinum $1T coins available in real "Reserve" - should hold us over for the next few hundred years or until we join in the Union of Europe and North America issue Monetarily Sovereign Ameros as the world's new reserve currency... and focus on prosperity instead of ECB IMF World Bank led austerity.
Instant "Balanced Budgets" for the foreseeable future.
Of course such a major trading block will be much economically stronger and one Amero should be pegged at say 10 GBP to begin and then float freely with the Chinese finally forced to uncouple their manipulated currency to float with a FOREX free markets.
Mitchell’s laws:
●The more federal budgets are cut and taxes increased, the weaker an economy becomes.
●Austerity is the government’s method for widening the gap between rich and poor, which leads to civil disorder.
●Cutting the deficit is the government’s method for taking dollars from the middle class and giving them to the rich.
●Until the 99% understand the need for federal deficits, the upper 1% will rule.
●To survive long term, a monetarily non-sovereign government must have a positive balance of payments.
●Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
●The penalty for ignorance is slavery.
No nation can tax itself into prosperity, nor grow without money growth.
Monetary Sovereignty: Cutting federal deficits to grow the economy is like applying leeches to cure anemia.
Two key equations in economics:
Federal Deficits – Net Imports = Net Private Savings
Gross Domestic Product = Federal Spending + Private Investment and Consumption – Net Imports
Of course the top 0.001% will not be too happy that they now will have to work for a change as they will no longer get interest payments from the 99.9% who will own their own wealth aka the National Debt (Really the national Wealth) under a truly democratic free markets monetarily sovereign currency systems. No more need for the fake private FED at the expense of the 99.999%.
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