Replies to Msg. #773028
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 Msg. #  Subject Posted by    Board    Date   
12112 Re: debt ceiling, meet platinum coin
   Sure,every sovereign government should follow suit,why stop at just c...
faul   ALEA   06 Dec 2012
8:06 AM
12099 Re: debt ceiling, meet platinum coin
   About the debt ceiling.... Their problem is once they have passed b...
clo   ALEA   05 Dec 2012
8:41 PM

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debt ceiling, meet platinum coin

By: Cactus Flower in ALEA
Wed, 05 Dec 12 8:10 PM
Msg. 12097 of 54959
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http://www.cnn.com/2011/OPINION/07/28/balkin.obama.options/index.html?hpt=hp_c1

"Are there other ways for the president to raise money besides borrowing?

Sovereign governments such as the United States can print new money. However, there's a statutory limit to the amount of paper currency that can be in circulation at any one time.

Ironically, there's no similar limit on the amount of coinage. A little-known statute gives the secretary of the Treasury the authority to issue platinum coins in any denomination. So some commentators have suggested that the Treasury create two $1 trillion coins, deposit them in its account in the Federal Reserve and write checks on the proceeds."