Post by peterv on Jan 8, 2013 11:26:32 GMT
This is doing the rounds of the blogosphere. It is (presumably) a spoof but it raises some interesting questions.
www.correntewire.com/the_presidents_leverage_he_can_go_platinum
Creating a $1tn coin would create debt-free seigniorage for the US government. If the US economy needs an extra $tn to oil its wheels, then surely this a much better way of doing it than 'borrowing' $1tn which just increases the national debt.
Of course it doesn't need to be a minted coin at all, it just needs to be digital money. I guess this is a restriction of the US constitution??
www.correntewire.com/the_presidents_leverage_he_can_go_platinum
Creating a $1tn coin would create debt-free seigniorage for the US government. If the US economy needs an extra $tn to oil its wheels, then surely this a much better way of doing it than 'borrowing' $1tn which just increases the national debt.
Of course it doesn't need to be a minted coin at all, it just needs to be digital money. I guess this is a restriction of the US constitution??
