The $1T Coin Makes Its White House Debut
White House Press Secretary Jay Carney listens during the daily press briefing at the James S. Brady Press Briefing Room of the White House in Washington, DC. (Alex Wong/Getty Images North America)
White House Press Secretary Jay Carney on Wednesday seemed both amused and annoyed with NBC News’ Chuck Todd for repeatedly asking about the movement to have the U.S. Treasury mint a $1 trillion-dollar platinum coin.
Yes, economists and lawmakers are actually debating whether the White House should avoid another debt ceiling fight by having Treasury legally mint a $1 trillion-dollar coin to be deposited into the Federal Reserve as payment towards our debt.
“I know your position hasn’t changed on the 14th amendment,” said Todd, referring to the president’s promise not go around Congress to raise the debt ceiling, “but do you have a position on this trillion dollar coin business?”
The “option here is for congress to do its job and pay its bills, bills that have already been racked up,” Carney responded.
“Do you believe you have this power to — ”
“There is no ‘Plan B,’” Carney said. “There is no backup plan. It is congress’s responsibility to pay the bills of the United States,” adding that “there is no alternative to Congress raising the debt ceiling.”
Todd accused Carney of being “a little evasive in [his] answer.”
“Are you trying to leave room or not,” the NBC News reporter persisted.
“There is no substitute for congress extending the borrowing authority of the United States,” Carney said.
However, although Carney repeatedly said that there was “no substitute” for Congress actually doing its job, he never actually said that the $1 trillion coin idea was off the table:
Meanwhile, over at Business Insider, Joe Wiesenthal, the patron saint of the #MintTheCoin movement, is ecstatic with Todd’s questions and Carney’s non-committal answers:
It’s pretty clear. Today was the #MintTheCoin breakthrough day. businessinsider.com/mint-the-coin-…
— Joseph Weisenthal (@TheStalwart) January 10, 2013
“There’s no question,” he writes. “Today was a major game-changer for the movement to circumvent the debt ceiling by minting a platinum coin, a strategy that would take advantage of an arcane area of the law relating to coinage.”
Follow Becket Adams (@BecketAdams) on Twitter
(H/T: Mediaite). Featured image courtesy Getty Images.
In CONTROL, Glenn Beck presents a passionate, fact-based case for guns that reveals why gun control isn’t really about controlling guns at all; it’s about controlling us. Find out more HERE.
Popular Stories
‘The Daily Show’ Creator Makes Outrageously Offensive Anti-Conservative Joke About Okla. Tornado 478 Comments
Why Were DHS Agents Seemingly Monitoring Multiple Tea Party IRS Protests Across the Country on Tuesday? 412 Comments
Confusion Erupts in IRS Hearing After Lois Lerner Tries to Plead the 5th — Watch It All Unfold 359 Comments
University Will Investigate Christian Professor’s Intelligent Design Class Following Atheist Furor 330 Comments
CNN’s Wolf Blitzer Has Awkward Moment With Okla. Tornado Survivor After Asking If She ‘Thanked the Lord’ 290 Comments
Faith
-
Comedian’s New Anti-Muhammad Video Excoriates Islamic Prophet, Juxtaposes Him with Jesus: ‘Very Wrong and Twisted’
Read More
-
Teacher Admits She ‘Prayed Out Loud’ During Violent Tornado: ‘I Did the Teacher Thing that We’re Probably Not Supposed to Do’
104 Comments
-
Farrakhan Talks of ‘Satanic Jews’ and ‘Synagogue of Satan’ at Detroit Church Speech — but Wait Until You Hear Who Was in Attendance
208 Comments
-
Biden Praises Jewish Leaders for Helping Change Americans’ Views on Gay Marriage
Read More
-
‘Death! You F**k!’: Bat Mitzvah Chaperone Unleashes Explosive, Profanity-Laced Tirade Against Kids Over Candy-Throwing Incident
Read More
Business
- The Tense Exchange Between Rep. Trey Gowdy and the Former IRS Head You’ve Been Waiting for…and It Doesn’t Disappoint 144 Comments
- Report: No IRS Workers Have Been Disciplined & Union Says It Hasn’t Been Contacted on Personnel Read More
-
Ex-Cincinnati IRS Manager: This Was Not the Work of ‘Low-Level’ Employees
Read More
-
China Sets off What Could Be the World’s Longest Demolition
Read More
-
Here are the 5 Most Interesting Moments from Tuesday’s Hearing on the IRS Scandal
146 Comments
Technology
-
The Incredible Role Facebook Played in the Aftermath of Devastating Okla. Tornado
Read More
-
Tech Company Demonstrates Remote Disabling of a ‘Smart Gun’
110 Comments
-
Meet the Blind Man Nicknamed ‘Midnight Gunslinger’ Who Has 80% Shot Accuracy
Read More
-
How a $4.5 Million Network of 181 Sirens Helped Save Lives in Oklahoma Twister
Read More
-
See the Record-Setting Python a Man Caught With His Bare Hands (and Guess How Much It Weighed)
Read More
Submitting your tip... please wait!
Comments (69)
R2
Posted on January 9, 2013 at 11:56pmHey everyone today’s word is HYPERINFLATION can you say that??? Yes good learn it because before the MORON in the White House is done we will have that word on our tongues every day.
Report this comment
Detroit paperboy
Posted on January 10, 2013 at 1:51amWhy not make it 16 trillion………………………………………………………
Report this comment
Obama Been Lauding
Posted on January 10, 2013 at 6:22amAsk Mr. Carney when the Democrat controlled Senate will actually submit a “Budget”, and quit blaming “all of Congress”. How about the other branch, Mr. Carney, the Executive Branch, and their failure on a “Budget”, that can even get a Democrat to vote for it?
This is just a Carnival, and they have “The Carney” spinning it like a top!!!!
Report this comment
LadyLibertykicksASS
Posted on January 9, 2013 at 11:23pmAhhhh, Yes !!! Time to pump up the tire on the wheelbarrow !!! We’ll be going to buy a 75 trillion dollar loaf of bread. Need a super size wheelbarrow. Just gotta love inflation.
Report this comment
David1967
Posted on January 9, 2013 at 11:13pmThis makes about as much sense as giving a bottle cap a 1 Trillion dollar valve..This amounts to pulling $1 trillion out of thin air or just erasing $1 trillion of debt. I wish I could erase my debt like that.
Why not just mint 16 of them and erase all the debt and be done with it and start over at $0? How can anyone think this is a good idea.
Report this comment
Advection
Posted on January 9, 2013 at 11:56pmThis is the parabolic Dollar everyone has been fearing. Well, everyone but Obama has been fearing it.
The “conservative” shadow value of gold is now $20,000 per ounce. Which would peg silver at about $1,250 per ounce, assuming is returns to its 1/16 monetary role during this time of global emergency.
http://dailyreckoning.com/the-path-to-20000-gold/
Report this comment
ICSPADES
Posted on January 10, 2013 at 5:41amWhy not, they have pulled everything else out of their arse.
Report this comment
TSUNAMI_22
Posted on January 9, 2013 at 11:11pmWho’s face is printed on the front of it? Only dead presidents get to be on bills.
Just sayin’.
ICSPADES
Posted on January 10, 2013 at 5:43amIn that case I am all for having a coin with the skanks picture on it. Can they please start production on these ASAP
Report this comment
IAmTuckerCarlson
Posted on January 10, 2013 at 6:02am^ This post is going to be reported to the FBI, right?
Report this comment
Iamnotanumber
Posted on January 10, 2013 at 4:58pmWe’re “transforming” and changing the rules as we go remember, we’ll have trillion dollar coins with the first emperor of the NWO, the stain of America’s legacy on both sides who ushers in the 1000 years of darkness, just like Ronaldus Maximus foretold.
Report this comment
Infected
Posted on January 9, 2013 at 11:05pmMy wife’s friend came on a hard time, so I loaned her $50… When I saw her a week later she had a new tattoo… When she showed it to us I ask her how much it cost… She said $50… So I said that I assume that she has the money she borrowed from me then… Her responce was no, that she had not been paid yet… So basically she took my money and got a tattoo with it instead of paying her overdue bills…. Same thing this country is doing.
Report this comment
ChangeUSBack
Posted on January 10, 2013 at 11:00amAlmost… Except the country isn’t taking $50 from “you” for the tattoo, “she” (the country) is taking $50 from you to pay the bills. The money for the tattoo, she would claim, was from her writing a check for $50 and depositing it back into the same bank account and claiming it paid for it with the $50 it just deposited.
Report this comment
Fishsnot
Posted on January 9, 2013 at 10:59pmI call for impeachment of this treasonist bastard. He’s devalued our country, our money, our laws, our constitution, the House of Representatives, our Senators and continues to “rule” thru proxy czars. This treasonist dog needs to go, EVEN before he’s sworn in again! In my heart of hearts, I still don’t understand and cannot accept that some many people alledgedly voted this man back into office and STILL DID NOT KNOW ANYTHING MORE ABOUT HIM THAN THEY DID IN 2008!!!! How remarkably stupid the American voter truly is, just damn unbelievable!
Report this comment
asybot12
Posted on January 9, 2013 at 10:59pmI see the third is back again without telling us who 1 and 2 were .
But anyway the Congress has two options
1: they extend the debt ceiling as Carney thinks is the only one option
2: they do not extend it as is the right and reason for Congress in the first place.
and of course 3: executive order by the WH.
Guess witch one?
Report this comment
13th Imam
Posted on January 9, 2013 at 10:57pmPretty soon it will enable you to buy a gallon of milk(skim) and a loaf of bread(whole wheat).
Report this comment
ZAP
Posted on January 10, 2013 at 3:04amAnd I heard a voice from among the four living beings say, “A loaf of wheat bread or three loaves of barley will cost a day’s pay.
Report this comment
Idaho_Hick
Posted on January 9, 2013 at 10:56pmI think it’s a great idea. They should print them like they do quarters now. Soon , we will all be using these to buy milk, eggs, bread, etc. A semi-truck full of 20s is more difficult to transport and count.
Report this comment
hugo65hsv
Posted on January 9, 2013 at 10:53pmThe crazy things liberals come up with..
Report this comment
JSnake
Posted on January 9, 2013 at 10:52pmWhile we are at it, why not declare Monopoly money “legal tender”. I could pay off my house with the cash from the five versions of the game I have in my closet.
Report this comment
DZ-015
Posted on January 9, 2013 at 10:46pmThe law allows the Treasury Secretary discretion in the minting of platinum coins, unlike the situation involving circulating coins and silver and gold special issue coins, for which there are numerous specifications. Platinum bullion coins have been minted since 1997 in the same weights and denominations as U.S. gold bullion and proof coins. Since a one Troy ounce platinum coin bears a denomination of $100, a $1,000,000,000,000 coin should weigh 10,000,000,000 Troy ounces, which would be impossibly large. I doubt that simply minting a two ounce coin and giving it a trillion dollar denomination would pass legal muster.
Report this comment
JSnake
Posted on January 9, 2013 at 10:54pmThey are not a bit concerned with “legal”.
Report this comment
Wiley41
Posted on January 10, 2013 at 8:57amSince when has the socialist-in-chief cared one iota about what’s legal or right
There you go again acting as if over 60% of this country anymore understands logic. They’d rather act off emotion, what is cool, and then go watch more about kardashians
Report this comment
stopprintn
Posted on January 9, 2013 at 10:40pmCan you knock two of them together and call in a squirrel.
Report this comment
zoro51
Posted on January 9, 2013 at 10:40pmthe GOLD dollar coin was done in the late 70s early 80s IT FAILED……IMPEACH OBAMA END AMERICA RAPEOF OUR GUNS OUT FREEDOM N HATRED OF THE CONSTITUTION… IMPEACH N REMOVE OBAMA let the wanna bea dictator YOU LOSE BIG
Report this comment
Advection
Posted on January 9, 2013 at 11:01pmWhy haven’t we heard anyone in power talking another impeachment? The President has been openly talking treason. Isn’t there a single statesmen?
Report this comment
CatB
Posted on January 9, 2013 at 11:27pmI agree .. but impeachment starts in the HOUSE .. and who is in control of the House? Obama’s golf buddy Boehner.
Report this comment
Black Horse
Posted on January 10, 2013 at 6:23amThe problem is not the House. They iniate impeachment proceedings, but the “trial” is in the Senate. Want to guess how much of a chance there is the Senate will find Obummer guilty?
Report this comment
spudwhite
Posted on January 9, 2013 at 10:40pmSuch a coin makes mockery of the Constitution and would send the global economy into chaos, which is why obamanation wants it.
Report this comment
Caniac Steve
Posted on January 9, 2013 at 10:50pmagreed with your responce
Report this comment
am123
Posted on January 9, 2013 at 10:37pmThe President will probably give the first $1T coin to the first lady so she can go on vacation again.
Report this comment
Chuck Stein
Posted on January 9, 2013 at 10:32pmMust be a good topic if Carney is dodging it so furiously.
Report this comment
woodyee
Posted on January 9, 2013 at 10:27pmDid you know – that if you were to take the crap out of the average Leftist-Liberals’ ear, you’d find Gaybama’s DNA on it?
Just in case one of you guys ever wondered about that…
Report this comment
S-O-B-E-R
Posted on January 9, 2013 at 10:21pmZimbabwe : 100 trillion dollar bills…
http://www.overthelimitentertainment.com/group/comedians/forum/topics/zimbabwe-one-hundred-trillion#axzz2HXUIA6DM
Report this comment
Advection
Posted on January 9, 2013 at 10:20pmA $1 Trillion coin would be the final nail in the coffin. That’s treason.
Report this comment
kickagrandma
Posted on January 10, 2013 at 6:15amEVERYTHING about this administration is treasonous.
Report this comment
randy
Posted on January 9, 2013 at 10:18pmAnd when that child, Obama racks up more debt than the parents, Congress,can pay…. it’s time to take away the childs credit card! And while you’re at it, IMPEACH THE SOB
Report this comment
Darmok and Jalad at Tanagra
Posted on January 9, 2013 at 10:17pmThe amazing thing about the coin is when put into a soda machine, you still need 5 more quarters.
The coin is making Obama mad, Biden keeps pulling it out of his ear.
I heard Obama came up with the coin idea after watching a “Racy” strip show in Hawaii.
I guess this is what the “Change” means from his campaign.
Instead of platinum, they are going to make it out of the most rareest substance on earth, Obama’s integrity.
Report this comment
gbarrel
Posted on January 10, 2013 at 2:21pmNow THAT is funny! So true too.
Report this comment
Iamnotanumber
Posted on January 10, 2013 at 5:05pmGolf clap!!!
Report this comment
Iamnotanumber
Posted on January 10, 2013 at 5:10pmI was thinking of making the coin out of aluminum, so when they become worthless ( From Super hyper inflation) they can be recycled and reminted, just tryin to save a trillion or two.
Report this comment
stopprintn
Posted on January 9, 2013 at 10:16pmMaybe our troubles could be heard by SCOTUS
http://dancingczars.wordpress.com/2013/01/09/breaking-news-chief-justice-of-the-supreme-court-john-roberts-schedules-a-case-by-attorney-taitz-regarding-obamas-forged-ids-to-be-heard-in-conference-before-the-full-supreme-court/
Report this comment
armyofnibiru
Posted on January 9, 2013 at 10:16pmif its that easy .why not mint a thousand coins?if your going to back up coins with debt than anything is possible yes , legal no..
Report this comment
The Third Archon
Posted on January 9, 2013 at 10:13pm…is this for real?
Report this comment
JoanofAmerica
Posted on January 9, 2013 at 10:18pmcan’t be
Report this comment
The-Monk
Posted on January 9, 2013 at 10:23pmThese are your people 3rd…. and you don’t get it???
Says a lot about you and all your OWS 99%’rs LOL.
Obama is gunning for you as well as us 3rd.
Welcome to the revolution against you and yours…. you asked for it and you got it… LOL
Report this comment
Advection
Posted on January 9, 2013 at 10:24pmHe is serious.
Obama is about to be the grinning ***** face on the NEW Zimbabwean Trillion Dollar bank notes. Only this time, it’s the United States Dollar, and the world economy, that’s going into the toilet.
Report this comment