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moneybox The $5 Trillion Coin Gimmicks the government could use to resolve the debt-ceiling debacle. Posted Friday, July 29, 2011, at 4:48 PM ET
One option is coin seigniorage--aka, the "really-huge-coin workaround." The United States has a statutory limit on the amount of paper money in circulation, but no such limit on coins. The Treasury secretary has the authority to mint certain coins of any denomination, with no need for the value of the metal to equal the value of the coin. (It gets a bit technical.) But the idea is that Secretary Timothy Geithner could order the Mint to make a, say, $5 trillion coin. It could then use the coin to buy back and extinguish debt from the Fed, pushing the country back under the ceiling. Or it could deposit it, and the Fed could counteract the inflation by selling government debt. To continue reading, click here. Annie Lowrey reports on economics and business for Slate. Previously, she worked as a staff writer for the Washington Independent and on the editorial staffs of Foreign Policy and The New Yorker. Her e-mail is annie.lowrey@slate.com.Join the Fray: our reader discussion forum What did you think of this article? POST A MESSAGE | READ MESSAGES Also In Slate How Boehner Is Using the Balanced-Budget Amendment To Save His Debt Plan Is It Really Possible To Die From "Alcohol Withdrawal"? Apple Is Destroying the Nintendo 3DS the Same Way Nintendo Destroyed PlayStation 3 | Advertisement |
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| By Adam Dachis What You Need to Know About the Internet Snooping Bill (and How You Can Protect Yourself)
What Is This Internet Snooping Bill, Exactly, and Why Is It Bad?The lovingly titled Protecting Children From Internet Pornographers Act of 2011 (PCFIPA of 2011) requires ISPs to retain customer names, addresses, phone numbers, credit card numbers, bank account numbers, and dynamic IP addresses. It's a record of your personal information plus the web sites you visit. It's like handing over a year's worth of browser history plus the contents of your wallet to the police. The thing is, you're not really handing it over so much as your ISP is—without your consent.  You might be wondering what this has to do with child pornography and protecting children, as the bill claims to exist for those reasons. The idea is that child pornographers will be easier to catch if these records are available, and that, in turn, will protect children. According to the Denver Post, child pornography cases have been on the rise and there have been over 10,000 arrests since 1996. While the police should be prosecuting child pornographers and consumers, the problem isn't so out of control that these extreme measures are necessary. Internet World Stats reports that there are currently 272.1 million Americans connected to the internet. The 10,000 known child pornography consumers make up a tiny fraction of a percent of Americans online. Even if the number of child pornography consumers were as much as 1,000,000, it still wouldn't make up a single percent. That's not to say that we wouldn't want to prosecute them and get them to stop, or that even 10,000 is a small number when it comes to a crime like this, but making a year's worth of records doesn't solve the problem.
Essentially, this bill does nothing more than make the browsing histories of approximately 272.1 million Americans readily available to the police. And that information comes with credit card numbers, addresses, and more. It not only encroaches upon personal privacy but is a complete waste of resources. How You Can Block Snooping ISPs and Protect Your Privacy
Your best bet is to find yourself a good VPN provider and hook it up to a good VPN tool to encrypt and route all your internet traffic through a third-party that isn't your ISP. Virtual Private Networks creates secure, encrypted connections between your computer and a server on the internet, then routes all your internet activity through that server. Your ISP would only really be logging the IP address of your VPN server, which doesn't give them much of your private info.
Got any suggestions of your own? Share your privacy-protecting strategies in the comments.
| From Our SponsorJuly 29th, 2011 Top Stories |
On Thursday, the US House of Representatives 
Consider the browser history of a single person over the course of a year, and then multiply that by 272,100,000. Then try to find 10,000 people in that data that have, at some point during that year, downloaded at least a single piece of child pornography. Finding a needle in a haystack is hard, but it gets to be pretty close to impossible when that haystack is the size of a country. There are too many people not downloading child porn to easily locate an offender and too few policemen to thoroughly look through the information. Like we've seen when the 
It could be worse. One nice feature of the PCFIPA of 2011 bill is that it doesn't include cellular data, so if you've 
