3 ways Obama could bypass Congress By Jack M. Balkin, Special to CNN July 28, 2011 10:48 a.m. EDT tzleft.balkin.jpg STORY HIGHLIGHTS
Jack Balkin: President Barack Obama has options if Congress fails to raise debt limit Balkin says U.S. could issue coins or options on property to raise funds Obama could invoke a clause of 14th Amendment to pay interest on debt, he says Balkin: Obama would risk impeachment but has votes in Senate to stay in office
Editor's note: Jack M. Balkin is Knight Professor of Constitutional Law at Yale Law School. His latest book is "Constitutional Redemption: Political Faith in an Unjust World" (Harvard University Press 2011).
New Haven, Connecticut (CNN) -- Very soon, Congress will raise the debt ceiling. If it does not, it would be the greatest unforced error in American history, a self-inflicted wound that is as disastrous as it was avoidable.
Suppose, however, that the tea party gets its way, and the debt ceiling is not increased. What are President Barack Obama's options?
We are having a debt-ceiling crisis because Congress has given the president contradictory commands; it has ordered the president to spend money, and it has forbidden him to borrow enough money to obey its orders.
Are there other ways for the president to raise money besides borrowing?
Sovereign governments such as the United States can print new money. However, there's a statutory limit to the amount of paper currency that can be in circulation at any one time.
Ironically, there's no similar limit on the amount of coinage. A little-known statute gives the secretary of the Treasury the authority to issue platinum coins in any denomination. So some commentators have suggested that the Treasury create two $1 trillion coins, deposit them in its account in the Federal Reserve and write checks on the proceeds.
Question for everyone here. Whose right, Ron Paul or Bill Still.
Ron Paul: Wants our currency back in gold and silver. He calls it constitutional money.
Bill Still: Says that backing our currency with gold has happened before and didn't work. He references the depression after the Civil War and the Great Depression of the 1930s. He goes onto say the only mention of gold and silver in the Constitution is in Article 1 section 8 and section 10 which says the states must pay their taxes in gold and silver. Finally, he says, you have to eliminate the ability of the government to borrow, and eliminate the ability of the big banks to lend money they don't have (fractional reserve lending).
Heard that a few days ago. Money has to be commodity based. Government debt is fine, it just how much. Gold, keeps spending in check! But, the root of the cause is the central bank, and the Illuminati.
heard a radio guy i respect one say the the rockefellers were worth 30 trillion and the rothschilds worth 300 trillion .. no idea how they measure such gargantuan numbers but found it interesting the Roths had 10xs their georgia guidestone eugenisists evil step childrens value
yeah I am ambivalent to the debt cieling thing, bc all the BIG SHOTS are saying about the same thing, it will affect the market for a few days and then back to normal mentality, and I tend to agree with that
@SGS, (or anyone that knows what I am talking about) need a favor. A few weeks back you posted a link to a lady that has turned her back on "the system". You said you learned alot from her & occasionally email/talk to her. Would you repost it? I need to forward it to multiple people. Thanks.
Anyone care to bet a bottom for Silver (after the debt ceiling thing is out of the way)...
$36US ... hmm ... $35.25US ... hmmm ... $34.90US ... hmmm ... (ok, you see where this is going...).
I don't give a rat's ass because 1) I am shorting silver (I know... blasphemy!) and 2) I want to buy some Ag (atomic weight 107.8682 atomic number 47). which I may, or may not, already own...
◄$$$ THE SILVER MARKET ABSORBED $10 BILLION IN ILLICIT NAKED SILVER FUTURES SHORT CONTRACTS IN ONE HOUR ON JULY 19TH. BY THE END OF THE WEEK, THE SILVER PRICE HAD RECOVERED TOTALLY, CLOSING AT $40/OZ. IT SHRUGGED OFF A NASTY SUCKER PUNCH WITH EASE. THE TOUGH RESILIENCE IS A GUARANTEE OF A MAJOR SILVER BREAKOUT IN THE NEAR FUTURE. THE BIG BANKS ARE PETRIFIED, REALIZING THEY CANNOT HALT THE MOVES. $$$
Jim Willie is one of our contemporary oracles, one of a handful of people who tell it like it is without any underlying agenda. He's been bang-on fucking right for years now...
I had subscribed to Chapman's newsletter, I recommend it by Jim's beats it hands down.
ps, If anyone has a few hours to kill waiting for the market to open, LOL. Watch the Ring of Power. Its really enlightening, stuff you may already know.
Look at all that fiat!
ReplyDeleteIt will never be paid! Print away Chairsatan! They want it all to collapse, for one world government!
ReplyDelete3 ways Obama could bypass Congress
ReplyDeleteBy Jack M. Balkin, Special to CNN
July 28, 2011 10:48 a.m. EDT
tzleft.balkin.jpg
STORY HIGHLIGHTS
Jack Balkin: President Barack Obama has options if Congress fails to raise debt limit
Balkin says U.S. could issue coins or options on property to raise funds
Obama could invoke a clause of 14th Amendment to pay interest on debt, he says
Balkin: Obama would risk impeachment but has votes in Senate to stay in office
Editor's note: Jack M. Balkin is Knight Professor of Constitutional Law at Yale Law School. His latest book is "Constitutional Redemption: Political Faith in an Unjust World" (Harvard University Press 2011).
New Haven, Connecticut (CNN) -- Very soon, Congress will raise the debt ceiling. If it does not, it would be the greatest unforced error in American history, a self-inflicted wound that is as disastrous as it was avoidable.
Suppose, however, that the tea party gets its way, and the debt ceiling is not increased. What are President Barack Obama's options?
We are having a debt-ceiling crisis because Congress has given the president contradictory commands; it has ordered the president to spend money, and it has forbidden him to borrow enough money to obey its orders.
Are there other ways for the president to raise money besides borrowing?
Sovereign governments such as the United States can print new money. However, there's a statutory limit to the amount of paper currency that can be in circulation at any one time.
Ironically, there's no similar limit on the amount of coinage. A little-known statute gives the secretary of the Treasury the authority to issue platinum coins in any denomination. So some commentators have suggested that the Treasury create two $1 trillion coins, deposit them in its account in the Federal Reserve and write checks on the proceeds.
http://www.cnn.com/2011/OPINION/07/28/balkin.obama.options/index.html?hpt=hp_c1
That'd be a hell of a pile for the Joker to burn
ReplyDeleteQuestion for everyone here. Whose right, Ron Paul or Bill Still.
ReplyDeleteRon Paul: Wants our currency back in gold and silver. He calls it constitutional money.
Bill Still: Says that backing our currency with gold has happened before and didn't work. He references the depression after the Civil War and the Great Depression of the 1930s. He goes onto say the only mention of gold and silver in the Constitution is in Article 1 section 8 and section 10 which says the states must pay their taxes in gold and silver. Finally, he says, you have to eliminate the ability of the government to borrow, and eliminate the ability of the big banks to lend money they don't have (fractional reserve lending).
http://sgtreport.com/2011/07/debt-free-government-issued-money-sovereignty/
The second video talks about how Still disagrees with Paul.
Who do you agree with?
Heard that a few days ago. Money has to be commodity based. Government debt is fine, it just how much. Gold, keeps spending in check! But, the root of the cause is the central bank, and the Illuminati.
ReplyDeleteOne match can burn the whole pile!
ReplyDeleteGoing to have to raise the debt limit soon, or else the US can't go to war with Iran:
ReplyDeletehttp://www.usatoday.com/news/washington/2011-07-28-US-Iran-Al-Qaida-Obama_n.htm
heard a radio guy i respect one say the the rockefellers were worth 30 trillion and the rothschilds worth 300 trillion .. no idea how they measure such gargantuan numbers but found it interesting the Roths had 10xs their georgia guidestone eugenisists evil step childrens value
ReplyDeleteYour next SGS:
ReplyDeletehttp://www.youtube.com/watch?v=ayOlQ9If_cA
The martians aren't safe either!!!
FM
If those pictures don't make you want to buy some PM then there is no hope for you or your future.
ReplyDeleteilluminati??? what's that? that sounds scary!
ReplyDeleteif this was a raid on gold and silver the last 2 days we are in superb shape
ReplyDelete"we are in superb shape"
ReplyDeletedont be so sure yet. Wait till debt limit thing is out of the way.
yeah I am ambivalent to the debt cieling thing, bc all the BIG SHOTS are saying about the same thing, it will affect the market for a few days and then back to normal mentality, and I tend to agree with that
ReplyDeleteFrom fifty percent of the world's wealth after WWII to the largest debter in the history of the world.
ReplyDeleteFuckin baby boomers.
Harvey says eighteen tons of gold? WTF!? SGS, thoughts? Throw us a frickn' bone, man! This is normal?
yet another idiot:
ReplyDeletehttp://www.investorplace.com/53187/making-the-case-against-gold/
There is not enough Jim Beam in the world to make those last 2 daily bars of ESU11 look pretty.
ReplyDelete@SGS, (or anyone that knows what I am talking about) need a favor. A few weeks back you posted a link to a lady that has turned her back on "the system". You said you learned alot from her & occasionally email/talk to her. Would you repost it? I need to forward it to multiple people. Thanks.
ReplyDeleteLed: Type in the top left hand search bar here : "Mary Croft"
ReplyDeletethats what you are looking for
Thanks SGS
ReplyDeleteMary Croft's piece was beautifully intense and inspiring. I can't thank SGS enough for posting it.
ReplyDeleteAnyone care to bet a bottom for Silver (after the debt ceiling thing is out of the way)...
ReplyDelete$36US ... hmm ... $35.25US ... hmmm ... $34.90US ... hmmm ... (ok, you see where this is going...).
I don't give a rat's ass because 1) I am shorting silver (I know... blasphemy!) and 2) I want to buy some Ag (atomic weight 107.8682 atomic number 47). which I may, or may not, already own...
Why the frig is Google using my alias 'felix' and not my real name 'daspro' !?
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteCourtesy of Mr. Jim Willie
ReplyDelete◄$$$ THE SILVER MARKET ABSORBED $10 BILLION IN ILLICIT NAKED SILVER FUTURES SHORT CONTRACTS IN ONE HOUR ON JULY 19TH. BY THE END OF THE WEEK, THE SILVER PRICE HAD RECOVERED TOTALLY, CLOSING AT $40/OZ. IT SHRUGGED OFF A NASTY SUCKER PUNCH WITH EASE. THE TOUGH RESILIENCE IS A GUARANTEE OF A MAJOR SILVER BREAKOUT IN THE NEAR FUTURE. THE BIG BANKS ARE PETRIFIED, REALIZING THEY CANNOT HALT THE MOVES. $$$
Jim Willie is one of our contemporary oracles, one of a handful of people who tell it like it is without any underlying agenda. He's been bang-on fucking right for years now...
ReplyDeleteI really like what Jon Nadler from Kitco has to say. He's been so prescient over the years.
ReplyDeletehttp://www.youtube.com/watch?v=Ghm3xAPYgSo
"Failed propagandist", that's being kind...
ReplyDeleteI had subscribed to Chapman's newsletter, I recommend it by Jim's beats it hands down.
ReplyDeleteps, If anyone has a few hours to kill waiting for the market to open, LOL. Watch the Ring of Power. Its really enlightening, stuff you may already know.
http://www.youtube.com/watch?v=4w-A54h_GQ8
Just watched the first part of the video...knew most of it, few new things.
ReplyDeleteAll I know is not to believe what I see on TV or anywhere. Let action speak for itself...and buy the Phyzz.
Would some artist make a sculpture of that dollarpile next to the statue of liberty to remind people of freedom?
ReplyDelete