Tag Archives: Joe Wiesenthal

The Small Ball Trillion Dollar Coin Seigniorage Exception

Posted on January 8, 2013 by Devin Smith | 22 comments

The exception to the general pattern focusing on the Trillion Dollar Coin (TDC) as the solution to the debt ceiling problem I outlined and critiqued in my last post, is in Joe Wiesenthal ‘s posts here and here. Wiesenthal alone criticizes, rather than ignores, other options than the TDC, namely the $16 T and $100 T options, on grounds that they are no more effective at meeting the debt ceiling crisis than the TDC. He says that the issue is not a lack money but the debt ceiling law, and also that if a coin that large were minted and used to pay back the debt, then the result would be inflation or hyperinflation because of the flow of the large quantity of reserves into the economy, and the ensuing great expansion in the money supply. Continue reading →

22 Comments

Posted in Joe Firestone

Tagged #60Tcoin, #PCS, #TDC, debt ceiling, debt-subject-to-the-limit, Fed, game-changing PCS, inflation, Joe Wiesenthal, MMT, Modern Monetary Theory, platinum coin seigniorage, Scott Fullwiler, small ball PCS, Trillion Dollar Coin

Wake Up Progressives: The Bad Guys Are Trying To Steal the Trillion Dollar Coin to Save the Financial Status Quo!

Posted on January 7, 2013 by Devin Smith | 29 comments

By Joe Firestone

Among the many posts on the Trillion Dollar Coin (TDC) and Platinum Coin Seigniorage (PCS) we’re seeing this week, is a category of posts favoring using PCS in a limited way to avoid the debt ceiling crisis, rather than using it in a much more robust way, that would change the procedures underlying Federal spending, so that fiscal policies advocating austerity no longer have a political foundation in a visible and rising national debt that austerity advocates can constantly talk about fixing through “shared sacrifice.” Continue reading →

29 Comments

Posted in Joe Firestone

Tagged #60Tcoin, #PCS, #TDC, debt ceiling, debt-subject-to-the-limit, default, Fed, fiscal cliff, game-changing PCS, Jerrold Nadler, Joe Wiesenthal, Josh Barro, krugman, MMT, Modern Monetary Theory, platinum coin seigniorage, small ball PCS, TDC swap, Trillion Dollar Coin

New MSM Trillion Dollar Coin Wave Misses the Big Story: Pethokoukis and Wiesenthal

Posted on December 12, 2012 by Devin Smith | 6 comments

By Joe Firestone

In this post I said I would blog about the likely expected relationship between the different PCS options and inflation using the framework laid out by Scott Fullwiler! But, after reconsidering, I thought I’d hold off until later, and, instead, first provide a discussion of the “new wave” of MSM-based blog posts on the Trillion Dollar Coin (TDC) “solution” to the upcoming debt ceiling conflict. As it turns out that will take a number of posts in itself. Continue reading →