Yale law prof Jack Balkin says the statutory limit on paper currency does not apply to coinage,...

|By:, SA News Editor

Yale law prof Jack Balkin says the statutory limit on paper currency does not apply to coinage, where a little-known rule gives the Treasury Sec. the authority to issue platinum coins in any denomination. What's to stop Mr. Geithner from creating 2 $1T coins, depositing them in Treasury's account at the Fed, and writing checks against them?