I have the simple solution to the debt problem. Will it work?

Ok this is going to sound crazy but it might work. Actually I really don’t know.

You make the US treasury start minting gold and platinum coins like it already does but you turn around and sell them to the Federal Reserve at metal value. The Federal Reserve then deposits the coin at its legal fiat tender face value, $50 for gold coin, $100 for platinum, and the US Treasury profits on the difference.

I’m trying to think of the implications of this. I guess the main issue would be do they have enough metal to cover the whole deficit. I want to kick this back to ATS readers and get your opinion.

Its a great idea if money wasnt created to control and dominate governments. Fractional reserve banking is a scam to steal power from people and governments and, its worked. We're currently in debt for more money than most of us can rightly imagine and we're talking about making MORE debt.

The US Treasury is public relations for the Federal Reserve. Its a buffer zone that the Fed can point the finger to when the Fed's tyrannical monetary policies collapse the economy even more. The days of going to metal are past. We have to move ahead and think of what money actually does for society (simply move goods and services) and rebuild a legitimate economy on that premise.

Money itself is systematically used against us and only a complete overhaul of the money system will fix it.

Forgiveness of all student loans? Pulling out of the five wars we're currently waging? Taxing the # out of the super rich who profit from OUR labor and OUR sweat and OUR lack of sleep? Free govt subsidized grocery stores instead of free govt subsidized crops that farmers burn anyway to maintain high prices? Answers to the debt question are easier than the press want us to believe. But the only true solutions dismantle also the power structure that funds the media itself. Govt doesnt want real solutions. They want bandaids for economic bullet wounds.

A simple solution would be to default.

Default on all debt being held by sovereigns, including the Fed, JPMorgan Chase, Bank of America, Barclays, etc -- then they should liquidate government assets [National Forests, parks, roads, everything basically] to satisfy the claims of the remaining bondholders.

Originally posted by Rockdisjoint
A simple solution would be to default.

Default on all debt being held by sovereigns, including the Fed, JPMorgan Chase, Bank of America, Barclays, etc -- then they should liquidate government assets [National Forests, parks, roads, everything basically] to satisfy the claims of the remaining bondholders.

edit on 20-7-2011 by Rockdisjoint because: (no reason given)

I have to agree with this. I have been telling my friends this forever!!!! And on top of that there would be plenty of land for real citizens to get a nice chunk and settle down (depending on the price I guess, but there always are investors right?). I think they should default though. Really to build first you have to destroy, right? It may hurt in the short term but in the long run it will help us to rebuild our economy.

It is good to see more people thinking about this as it is complex important stuff. The federal reserve is a big problem as it is just a corporate middle man between the US treasury and the public skimming of profits. A lot of currency transactions are also digital these days, very little of what actually goes around is in cash these days.

The purpose of the economy is to manage supply and demand and we need to get back to this. The difficulty is the way power and greed has got into the system and has altered this balance. Now millions of people starve so some wall street broker can make a few more personal dollars. The resources are there and the need is there, how can we get a more reasonable distribution into the system?

reply to post by ldyserenity

It may hurt in the short term but in the long run it will help us to rebuild our economy.

Fine but how long are you willing to go without a job?
How long can you go without city services?
The list goes on and on.