Skip to main content

View Diary: Economics Daily Digest: Learning to love the platinum coin (26 comments)

Comment Preferences

  •  Can we use Platinum coins to fully fund things? (1+ / 0-)
    Recommended by:
    Words In Action

    Especially when the Congress fails to?

    Happy little moron, Lucky little man.
    I wish I was a moron, MY GOD, Perhaps I am!
    —Spike Milligan

    by polecat on Tue Jan 08, 2013 at 07:57:40 AM PST

    •  No - that's not the point (2+ / 0-)
      Recommended by:
      glorificus, DRo

      The point is that through a fully Constitutional process, the Congress (as elected) has agreed to fund/pay for programs at the levels it voted for them -

      the 14th Amendment compels the Executive Branch to make good on the debts and obligations of the U.S.

      Hence, the Executive can coin money to pay what Congress has already agreed to pay for.  It can't go back and add money to programs not fully funded by Congress.

      The object of persecution is persecution. The object of torture is torture. The object of power is power. --George Orwell

      by jgkojak on Tue Jan 08, 2013 at 11:46:44 AM PST

      [ Parent ]

    •  all coins are currency by fiat (1+ / 0-)
      Recommended by:
      DRo

      they do not have inherent value.

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site