Cullen Roche: Pragmatic Capitalist
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Submitted by lambert on Sun, 01/06/2013 - 12:09am
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Incident time:
Friday, December 7, 2012
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United States
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"[T]he US Treasury could order the US Mint to create a platinum coin of any denomination, deposit it in the Fed’s account and the Fed could then retire some portion of the national debt in what is essentially an exchange of the bonds they hold for the coin. Then the government spends the money they were already told (by themselves) to spend and we don’t get held hostage by the very same government" (original).
