The Platinum Debt Ceiling Solution

  • Aired:  01/07/13
  •  | Views: 19,820

Minting trillion dollar platinum coins to pay off America's debt is legal in that it is not technically illegal. (3:34)

LOOK FOR OUR CAR AT DAYTONA AND OUR UPCOMING HOLLYWOOD HIT "DRINK LIKE A FISH."

FISCAL CONSERVATIVES MAY HAVE LOST THIS ROUND AND GOD KNOWS HOW LONG IT'S GOING TO BE BEFORE

THERE'S A CLASH LIKE THIS OVER THE BUDGET.

>> GOODBYE FISCAL CLIFF HELLO DEBT CEILING.

>> THE FISCAL CLIFF FIGHT WAS UGLY BUT WILL THE DEBT CEILING STRUGGLE BE EVENINGING UGLIER.

>> HARD TO BELIEVE BUT THIS COULD GET UGLIER.

[ LAUGHTER ]

THE GOVERNMENT IS AETCH PERFECTING THE LEGAL LIMIT FOR HOW MUCH KIT BORROW ALSO KNOWN

AS THE DEBT CEILING.

REPUBLICANS CAN DEMAND THAT THE PRESIDENT MAKE SPENDING CUTS OR WE'LL HIT THE DEBT CEILING AND

GO THROUGH IT.

[ LAUGHTER ]

OR GET CRUSHED BY IT OR YOU KNOW WHAT?

WE MIGHT HAVE TO MAKE A SKYLIGHT IN IT.

SOUNDS NICE.

IT'S PRETTY BUT THEY RARELY GET CAULKED PROPERLY AND WHEN IT RAINS, IT DRIPS AND RUINS YOUR

SISAL CARPET.

THE REPUBLICANS ARE CLEARLY IN A STRONG POSITION BUT THE PRESIDENT MIGHT HAVE A TRICK UP

HIS SLEEVE.

>> IS THERE A MAGIC BULLET TO SOLVE THE CRISIS?

TRY A MAGIC COIN.

SOME ECONOMISTS, LEGAL SCHOLARS AND A CONGRESSMAN ARE SUGGEST A $1 TRILLION PLATINUM COIN COULD

BE MINTED AND THE GOVERNMENT COULD USE IT TO PAY THE DEBT, AVOID DEFAULT AND PREEMPT THE

DEBT CEILING CRISIS.

>> Stephen: WE SHOULD HAVE KNOWN THAT A COIN WAS OBAMA'S SOLUTION TO EVERYTHING.

IT WAS RIGHT IN HIS SLOGAN.

CHANGE.

IT'S LEGAL IN THAT IT IS NOT TECHNICALLY ILLEGAL.

[ LAUGHTER ]

LET ME EXPLAIN WITH SOMEONE ELSE'S MOUTH.

>> TECHNICALLY IT DOES APPEAR TO BE LEGAL.

HERE IS HOW.

>> THE U.S. GOVERNMENT CAN PRINT NEW MONEY BUT THERE'S A LIMIT TO HOW MUCH PAPER MONEY CAN BE

UNTIL CIRCULATION AT ANY ONE TIME.

THERE ARE RULES THAT LIMIT THE DENOMINATIONS THAT GOLD, SILVER AND COPPER COINS CAN BE BUT

THERE'S NO LIMIT ON PLATINUM COINS.

THE PRESIDENT CAN ISSUE A PLATINUM COIN IN ANY DENOMINATION.

THE TREASURY CAN MINT IT AND PRINT ON IT $1 TRILLION.

IT PRESIDENT CAN ORDER IT TO BE DEPOSITED AT THE FEDERAL RESERVE.

>> Stephen: THEN BEN BERNANKE GOES TO THE FED BREAK ROOM VENDING MACHINE, INSERTS THE

COUNT AND PICKS EITHER CHEESE NIPS OR SAVE THE WORLD ECONOMY.

[CHEERS AND APPLAUSE]

FOLKS -- FRANKLY, I DO NOT THINK THIS WILL EVER HASM FIRST OF ALL, WHEN -- EVER HAPPEN.

FIRST OF ALL, WHAT DO YOU PUT ON A TRILLION DOLLAR COIN SNON THE TAIL SIDE A BALD EAGLE BREATHING

FIRE WHILE MAKING LOVE TO THEN AMERICAN FLAG.

WHAT IS ON THE SNEAD OBAMA?

BOEHNER?

I'LL TELL WHAT YOU IT SHOULD BE THE CHARMIN BEARS BECAUSE WHEN YOU PULL AN IDEA LIKE THIS OUT

OF YOUR ASS, YOU'RE GOING TO NEED SOMETHING SOFT.

[ LAUGHTER ]

BESIDES, IT DOESN'T MATTER, ALL OF THIS MEANS NOTHING BECAUSE A ONE TRILLION DOLLAR COIN DOESN'T

SOLVE ANYTHING.

OUR NATION'S DEBT IS $16 TRILLION.

WE CAN'T MAKE A $16 TRILLION COIN.

THAT'