Ode and comment supporting S. 2049, to replace all $1 Fed notes with $1 U.S. coins

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Ode to S.2049

Don't just rage.

Life's a stage.

Act your age!

Turn the page!!

Timely gauge.

Doubts assuage!

New coinage!!

Seigniorage!!!

S. 2049 was introduced on January 31, 2012.   It proposes to mandate not only the replacement of all $1 Federal Reserve notes with United States $1 coins within five years, but also immediate installation of a clarifying coinage seigniorage gauge:

Sec. 2(d) C LARIFICATION W ITH R ESPECT TO S EIGNIORAGE .--The ninth proviso of section 5136 of title 31, United States Code, is amended by inserting after ""miscellaneous receipts'' the following:   "", and such amount shall be included as an estimated receipt of the Government and a receipt of the Government under paragraphs (6) and (7), respectively, of section 1105(a) in any budget submitted under such section''.

Ode to S. 2049 is the second of two comments that I have posted to the POPVOX.com public forum, supporting S. 2049.   Here is the first:

The change to U.S. currency will restore to the government seigniorage tax vastly in excess of the amount that GAO has been reporting for the last 21 years. I wrote an Op Ed article showing this, "To Free A Lender-Owned Nation." You can download it from my website commondada.com, from the "Treasury" submenu.

To summarize. The General Accounting Office last year estimated that using coins instead of dollar bills will save the government $5.6 billion over 30 years, after five years of initial losses.

In fact, merely because coins are true United States currency, the government will also benefit from: (a) an early reduction of $13.75 billion in debt held by the public, from replacing the present 9.5 billion dollar bills with 150% as many coins; (b) a further reduction in excess of $30 billion from coins added over the 30 years; and (c) a further $14.5 billion reduction from 81.5% of the interest relief per note replaced by a coin. Hence, the net benefit after 30 years would exceed $58 billion.

Authors Website: commondada.com

Authors Bio:
Clifford Johnson is a semi-academic naturalized Brit. He first entered the U.S. as a rah-rah Harkness Fellow. For theater, language, and also as a questionable ex-Brit, Johnson adopts a Tom Paine II persona. His activist credentials comprise serial terminations of employment and pro se litigations raising public policy questions.

Johnson claims to be the only person who has sued the Comptroller of the Currency for a failure to regulate a national bank -- the Bank of America -- which he did in the early 1980s.

Johnson's 15-minutes of fame came in the mid-1980s. Then a manager of computing at Stanford University, he sued the Pentagon, challenging the constitutionality of its nuclear hair-trigger "launch on warning" posture, for riskily and unconstitutionally delegating the decision to initiate nuclear Armageddon to a 3-minute computer-governed military drill.

Johnson is currently challenging the Treasury and GAO in federal court, for misrepresentations as to Federal Reserve versus United States currency. The case raises novel issues of law re the government's right to lie.