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Insane: Liberals Contemplate $1 Trillion Platinum Coin to "Solve" Debt Limit Issue

SCLiberal Wrote: Dec 08, 2012 4:33 PM
It can create both per the Federal Reseve Act of 1913.
SCLiberal Wrote: Dec 08, 2012 4:59 PM
it was better than what we had before, a boom and bust economy of one depression after another. The Fed has moderated the boom and bust cycle and made our country the banking system of the world, the reseve currency of the world, and moderated volatility enough to ensure we borrow at rates cheapest we've ever seen. If we can borrow currency at almost nothing, and invest it into the economy in the form of R&D, education, infrastructure that generates returns at 1-2% GDP growth a year over the long term, then it always makes sense to borrow. And the Fed has given us a world where we can borrow that cheap.
Henry VIII Wrote: Dec 08, 2012 4:36 PM
Another big government mistake....just because the Fed was created, doesn't mean it was a good idea.

Welcome to Zimbabwe.  This is not a parody -- it is an actual report from the Washington Post:

Some economists and legal scholars have suggested that the “platinum coin option” is one way to defuse a crisis if Congress can’t or won’t lift the debt ceiling soon. At least in theory. The U.S. government is, after all, facing a real problem. The Treasury Department will hit its $16.4 trillion borrowing limit by next February at the latest. Unless Congress reaches an agreement to raise that borrowing limit, the government will no longer be able...

Related Tags: Debt Limit Inflation