Magic Coin News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Who needs congress? >> that is the thing. congress is not that popular. but we do have have in our constitution the separation of powers. i am a supporter of gun control i am nervous about an effort to bypass the congress. >>gregg: i am not sure anyone in the white house has read the constitution. >> we had a discussion of the $1 translate platinum coin to make a magic coin and make the deficit go away and the white house was seriously considering that. but now treasury says they are now doing that. this is madness what we have going on. today, some are saying the president should ignore the l...

Right now, my story of the week. the magic coin. odds are by now you heard something about the trillion dollar coin ideas that thanks in part to others has managed to catapult from the margins of the internet to the center of beltway conversation. the idea first proposed in 2010 by a george jrnlg lawyer commenting on a blog under the screen name beta wolf has received endorsements from a number of members of congress. on wednesday white house spokesperson jay carney fielded a question about the proposal from our own chuck todd. >> follow up on debt ceiling. i know your position hasn't changed....

Interesting that he refused to say we're not doing that and now the argument is, looks the republicans refuse to let anything get done and the nation go over the debt ceiling and wouldn't raise it so president obama has to do what he's got to do to get around the house republicans. >> the reality is, we have a spending problem and i agree with him. the reason it's catching on so much, a sign of how much the leverage from the g.o.p. from president obama. with the fiscal cliff, president obama had the leverage and willing to go over the fiscal cliff, he can't default on the debt so the g.o.p. ha...

Was a joke. the idea being we are never going to be up against the brink if we have a magic coin that the fed has ready. this is almost like lucky charm, the magical leprachan creating stuff from thin air. >>guest: but we are not too far from that. that is why i love the story, we are close to this as a reality. the fed prints money. they give it to treasury. treasury pays interest. the fed takes a profit from the interest and gives it back to the treasury and this keeps going on and on and on and it is bigger and bigger and maybe it will be one giant coin that collapses on all of us. >>neil: ...

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