The birth, and the apparent death, of the trillion dollar platinum
coin idea may one day be recalled as a mere footnote in the current debt
crisis drama. The ultimate rejection of the idea (which was to use a
loophole in commemorative coinage law to mint a platinum coin of any
denomination) by both the the President and the Federal Reserve seems to
offer some relief that our economic policy is not being run by
out-of-touch academics and irresponsible congressmen.
In reality, our government has been creating more than one trillion dollars out of thin air every year for the past five. The only difference is that the blatant dishonesty of a trillion-dollar platinum coin is so easy to understand that the public simply couldn't be expected to swallow it. The American people are more than willing to be fooled, but they won't tolerate so simple a ruse.
Read more: http://finance.townhall.com/columnists/peterschiff/2013/01/16/the-trillion-dollar-trick-n1490360/page/full/
In reality, our government has been creating more than one trillion dollars out of thin air every year for the past five. The only difference is that the blatant dishonesty of a trillion-dollar platinum coin is so easy to understand that the public simply couldn't be expected to swallow it. The American people are more than willing to be fooled, but they won't tolerate so simple a ruse.
Read more: http://finance.townhall.com/columnists/peterschiff/2013/01/16/the-trillion-dollar-trick-n1490360/page/full/
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