CEO Asks during media tour: Should the US Simply Mint a Trillion-dollar Platinum Coin to solve the Debt-ceiling Crisis?

LOS ANGELES, Oct. 07, 2021 /PRNewswire-PRWeb/ -- Patriot Gold Group CEO Jack Hanney is conducting a media tour, setting the record straight in his quest to see the United States return to fiscal moral sanity.

Hanney lets Americans know that according to Philip Diehl, former director of the United States Mint, a trillion-dollar platinum coin could be minted within hours of the Treasury Secretary's decision to do so.

"Think about it. In one fell swoop, Congress can get rid of its debt-ceiling problem once and for all. And if the pesky debt-ceiling rears its ugly head again, we can bop it on the head with another Trillion-dollar platinum coin. And if inflation sets in and we need another, we can rinse and repeat," said Hanney.

According to the Patriot Gold Group CEO, the only problem with the platinum coin scenario is that eventually, it becomes like the popular carnival game, Whack-a-Mole. You can never bop those moles fast enough. The faster you bop, the quicker their boney heads pop up again.

Hanney explains that eventually, you have to mint a quadrillion-dollar coin, then a quintillion-dollar coin. And if the debt ceiling descends upon you too quickly, give 'em a vigintillion dollar coin, or even a Googol dollar coin or a Googolplex dollar coin. Never mind the warning of Everett Dirksen, the late great US Senator from Illinois who said, "A billion here, a billion there, and pretty soon you're talking real money." If we get to the point of needing more money than we have names of large numbers for, that won't stop us. We'll keep adding zeros. As a note of trivia, a googol is a '1' followed by 100 zeros. And googolplex is a '1' followed by google zeros. And just who invested those two astronomically high numbers? In 1920 by an intelligent 9-year-old, Milton Sirotta, whose uncle was prominent American mathematician Edward Kasner, but I digress.

During his media tour that is scheduled to continue through the end of October, Jack explains that the Weimar Republic of Germany did something similar until people had to bring a wheelbarrow full of German Marks yet still could not buy a loaf of bread. But that was if you were in front of the line. Heaven help the poor soul who was in the back of the line since by the time they reached the front, the price may have doubled to two wheelbarrows.

This is not the path we should choose, Hanney contends, asking "But what's the alternative? Leaving it up to a bipartisan Congress? That could take weeks, particularly if they use the reconciliation process. And worse still, we might have to cut some partisan pork out of the proposed bills. Oh, my, we couldn't possibly make that sacrifice, could we?"

"We can, and we should. Otherwise, mischief will eclipse all logic before you know it, we'll find ourselves off the gold standard. Oh, that's actually already happened. President Nixon saw to that.

"So, what's the solution. Simple. We need to go back on to a gold standard, or even a platinum standard, but not with a make-believe platinum trillion-dollar coin backed by nothing. Instead, let's make our money out of real gold and real platinum."

Immediately after proposing such an 'archaic' idea, people snap back and say, "But if you had real gold in your pocket, people might rob you."

That statement makes Hanney's point. People instinctively know that a real gold coin is worth more than an inflationary fiat hundred-dollar bill that isn't worth the paper it's printed on. Gold reserves do not back it in Fort Knox as in the old days. Heck, it's not even backed by tin or zinc, or copper. It's a bit like Bitcoin, Its worth is whatever people think it's worth—until the bubble bursts. And then, it's worthless, and eventually, perhaps, worthless.

Hanny concludes, "Let's insist that our politicians stop printing money as if it's endless. Let's either revert to honest money, backed by precious metals. Better still, let's pay our bills with real gold, real silver, or with other tangible assets that have withstood the test of time for millennia. At a bare minimum, lets' stop spending money like drunken politicians, who are wined and dined by high-paid lobbyists for every cause under the sun—other than for 'We the People'."

Jack Haney is the CEO and senior partner at Patriot Gold Group. http://www.patriotgoldgroup.com

Media Contact

Jack Hanney, Patriot Gold Group, (424) 277-0323, [email protected]

SOURCE Patriot Gold Group