Should Congress fail to extend the U.S. debt limit — reached again on Dec. 31 — the president could ask the Treasury to begin printing trillion dollar coins (in a process explained mostly seriously by Jim Pethokoukis on his American Enterprise Institute blog), a number of which could then be put toward fulfilling debt obligations in the event new legislation stalls in Congress.Brother, can you spare a trillion?
While there are laws in place to regulate how much paper, gold, silver or copper currency can be circulated by the government, there is nothing so clearly stated when it comes to platinum. That door open, the Treasury could have the U.S. Mint melt and mold a few trillion dollars of it, then ship the goods over to the Federal Reserve for safekeeping until the time comes to pay the bills.
Friday, January 04, 2013
Is America ready for the ultimate coin?
This is not the plan they thought it was:
The regulators are still at it: Using the "altFEC" twitter account, one of several "alt" sites set up by government work...
Were they the ancestors of piano players? The brain circuits that led to two-sided tools and weapons such as hand-axes and cleavers are the ...
They really are after everyone's job: The study found that 42 percent of UK consumers believe their job is likely to be replaced by a ro...