The Treasury will not produce a $1T platinum coin as a way of bypassing the problem of the debt...

The Treasury will not produce a $1T platinum coin as a way of bypassing the problem of the debt ceiling, quashing an idea that has gained currency with Democrats and various high-profile economists and commentators. Neither the Treasury nor the Fed "believe that the law can or should be used to facilitate the production of platinum coins for the purpose of avoiding an increase in the debt limit," the Treasury said yesterday.

Comments (9)
  • schatzl
    , contributor
    Comments (391) | Send Message
    Who would have thought the government would not spend the last credibility they had on misusing a legal loophole to arbitrarily assign the whole deficit on to a coin. The offered solutions are becoming more bizarre for each trillion in debt piled up.


    How about implementing the most fundamental of all budgetary rules?


    Balancing the budget?
    13 Jan 2013, 06:43 AM Reply Like
  • bbrady413
    , contributor
    Comments (770) | Send Message
    How dare you suggest such radical measures! You must be some kind of domestic terrorist!
    13 Jan 2013, 07:52 AM Reply Like
  • schatzl
    , contributor
    Comments (391) | Send Message
    *cautiously eyeing the sky*
    13 Jan 2013, 07:57 AM Reply Like
  • divinecomedy
    , contributor
    Comments (465) | Send Message
    Nah the best solution I've seen belong to the Modern Monkey Theory theorists. According to them, there's not even a problem since constant burgeoning deficits is just how government's supposed to operate. Why do you need a solution if you don't even have a problem?
    13 Jan 2013, 08:01 AM Reply Like
  • Venerability
    , contributor
    Comments (3043) | Send Message
    The ENTIRE purpose of the Platinum Godzilla Coin tall tale - closely following the artificial and absurdly idiotic No More QE Ever tall tale a few days previous - was to boost the Platinum to Gold Ratio to levels not seen for years.


    There is a major entity in trouble - again! - with its Gold position. Maybe a couple or three major entities.


    So what else is new?


    I would bet we get some sort of announcement about a Rogue somewhere in the system - not necessarily in either the US or Europe this time - within the next few days. The news out, maybe we can get back to normal again, at least on the Propaganda front.
    13 Jan 2013, 09:29 AM Reply Like
  • DaleW
    , contributor
    Comments (70) | Send Message
    The real problem was changing all the the vending machines would cost more than the coins were worth.
    13 Jan 2013, 11:37 AM Reply Like
  • haruglory12
    , contributor
    Comments (54) | Send Message
    This just goes to show how imperial minds think. The Democrat party is now the statist party of America. They openly hate the constitution and the rule of law and reject the civil society.
    13 Jan 2013, 02:56 PM Reply Like
  • Tommy_Finger
    , contributor
    Comments (316) | Send Message
    These will be collector items, for sure. I'll take a dozen, please.


    And I can't wait for the $10T coin to come out too!
    13 Jan 2013, 07:09 PM Reply Like
  • Exquisite Decay
    , contributor
    Comments (289) | Send Message
    Awe, now we will not have the opportunity to have Timmy Geithner put it in his pocket as he walks over to the White House and realize that he had a hole in his pocket and lost the damn coin. "Really Barry, it was right here in my pocket, honest! It must have fallen out through this hole."


    Meanwhile, some homeless person finds the coin and not realizing what it is, but liking shiny things, stuffs it in his coat next to his collection of string, a dead finch and a week-old half-eaten donut.
    13 Jan 2013, 10:28 PM Reply Like
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