Daily Archives: February 3, 2013

Framing Platinum Coin Seigniorage: Part Five, Institutional Objections

By Joe Firestone

This series provides a framing document for Platinum Coin Seigniorage (PCS). In the four previous parts of the series, I pointed out that there are three classes of opponents of High Value Platinum Coin Seigniorage (HVPCS, $30 T and above). The first and largest group opposes all Platinum Coin Seigniorage (PCS) of whatever type. The second, opposes HVPCS, but favors using the Trillion Dollar Coin (TDC) for the limited purpose of avoiding the debt ceiling. The third, opposes HVPCS, and doesn’t really favor using the TDC either, except, perhaps, as a last resort to avoid the debt ceiling. It favors an incremental approach to PCS beginning perhaps in the millions or billions in face value, and over a long period of time, after giving people years to adjust to Treasury using platinum coins with unusual, and unprecedented, face values, eventually building up to a TDC.

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The Quiet Coup

By Jon Denn*

No Budget No Pay means “Only Rich May Govern.” Could you afford to work for two or six years without pay? I think there’s a name for that. What is it, again? I can’t quite remember.

But if the broken Congress you’re a member of, can’t pass a budget that’s what’s going to happen. A block of rich members can simply filibuster the budget, as they almost always do every bill now. Even silently, which is really cowardly. And you go broke.

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